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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> John Stumpf

Wells Fargo sells H.D. Vest to private equity firm

Posted by RJ and Makay on Jul 11, 2011

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Wells Fargo and Co. announced last week that it will sell its H.D. Vest financial services business to private equity firm Parthenon Capital Partners.  The companies did not disclose the price of the deal. Wells Fargo determined that the retail brokerage unit did not coincide well with its Wells Fargo Advisors retail brokerage that services more affluent and wealthy clients through its force of 15,000 financial advisors.

Richest Wall Street execs are worth a combined $2.1 billion, present lucrative opportunity for advisors

Posted by RJ and Makay on Jan 18, 2011

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Richest ExecutivesThe top 10 wealthiest Wall Street executives are financial powerhouses. As a group, they have an average net worth of $210 million, an average liquid net worth of about $75 million, and together are worth about $2.1 billion, shows a new study by Wealth-X, a firm that collects and analyzes information on high-net-worth individuals.

Those numbers could soon be even larger as the economy revs up, taking financial stocks and executive compensation and bonuses along with it. Financial company executives with out-of-the-money call options on employer stock could do very nicely, for example, as financial stocks climb and bring the options into profitable territory.