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Wells Fargo $1.7 billion 'Profit-Formula' group executes breakaway with help and of ... Wells Fargo

Cooke Financial Group of Indianapolis left the wirehouse in a broad daylight, front door exit with some diligent help of from their bosses

Author Janice Kirkel December 2, 2016 at 12:19 AM
no description available
Brian Cooke with brother Chris: Normally when you leave it’s in the middle of the night and not out the front door.

Breakaway Stories



December 3, 2016 — 12:40 AM
There you have it...that's the future. Smart, well capitalized and branded firms pivot- one dimensional platforms expecting mana from heaven are stuck Maybe that is why they are so slow growing
Stephen Winks

Stephen Winks

December 3, 2016 — 10:17 PM
Advisors are increasingly finding themselves at odds with their w-2 employers who oppose fiduciary duty and professional standing of those who render advice. Evolving data standards inevitably streamline cost and change our conception of products, technology and advice. Modernity in the client's best interest will prevail sooner than we all think. SCW
Big Bopper

Big Bopper

December 5, 2016 — 5:49 PM
So you didn't do your fiduciary duty by choosing the best custodian for your clients... you did what Well Fargo wouldn't sue you for? Hope you mention that to your clients.
Stephen Winks

Stephen Winks

December 5, 2016 — 6:19 PM
Big Bopper, Custodians do not support fiduciary duty for fear they would be deemed being prescriptive thus triggering fiduciary liability. So, it is not a matter of choosing the "best custodian", it is a matter of choosing the "best RIA" around which to build your business. SCW


December 6, 2016 — 12:57 AM
Big Booper or Blooper- You are entering into a whole new world.

Related Moves

July 16, 2022 at 1:35 AM

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 at 1:06 AM

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Diamond Consultants
Top Executive: Mindy Diamond

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