John Tyers, the new head of Wells Fargo’s independent advisor business, has a big job. Many in the industry would say it’s a tough job. Some might even say he’s got an impossible job.
It doesn’t matter what people say — Wells has made a big bet on John to turn around the firm’s FiNet advisor business, as well as their First Trust clearing division. They’ve even asked to put his 30 years of experience in the RIA and custody industry to use and build out a Hybrid RIA custody platform. John is up to the task, and not just because he speaks the languages of RIA custody and advisor technology as well as anyone in the industry. He’s told us that he also has the one thing that has alluded many others in the past who have tried to make full-fledged RIA custodians out of the wire houses, and that is full support of the people he reports to — the senior management team of the massive and powerful organization that is Wells Fargo.
I’m excited to have John on the show to talk about why he took this big job, his initial plans to change and improve the landscape of the FiNet and First Clearing businesses, and why he thinks Hybrid RIAs will view Wells as a key partner for growth.