Personal Investments • Ditch Wells Fargo Advisors

Not to defend Wells but it's not like you can't self-manage your portfolio and keep it at Wells. I have an old rollover IRA at Wells and the only reason I have it there is because it's to my advantage; we do our checking/savings at Wells and my IRA balance qualifies us for their top-tier Premier banking status (waives a bunch of fees, free wires, better customer support, etc.) Their brokerage interface is just "OK" - not at the same level as Schwab/Fidelity but if you don't need to use them for research, etc. and just want to work with your portfolio doing normal portfolio things it's perfectly serviceable IMHO.

Similar view here. My Wells Fargo brokerage account is, and always has been, self-directed. It has also always been Wells Fargo Advisors - that is the name of the brokerage, and WellsTrade is a product offering. I agree on the “OK” in comparison to the more sophisticated interfaces I have at Fidelity and Schwab. But I like having a secondary brokerage account sitting alongside my banking and credit card accounts when I log in to wellsfargo.com, partly for tier status.

But back to the OP, you don’t necessarily need to “ditch” WFA. You need to convert it to a WellsTrade account. As noted, we would need to know what the securities are - hopefully not a lot of restricted, proprietary stuff. This will also matter if you decide to transfer to another brokerage via ACATS.

Statistics: Posted by Nadir — Mon Feb 26, 2024 3:19 pm — Replies 19 — Views 1600