WFAFN helps every practice transition to independence by letting advisors focus on what’s most important—their clients.
André Cantareira manages a team of experienced transition consultants, commonly referred to as practice liaisons, whose responsibilities include guiding advisors through a successful transition to independence, introducing them to the Wells Fargo Advisors Financial Network culture, and providing ongoing, relationship-based, Home Office advocacy and support. When an advisor makes the decision to move to WFAFN, the transition process begins immediately to help ensure a successful replication of that practice’s book of business. André explains, “Our team accepts shared ownership of each practice’s transition process, which ultimately leads up to, and includes, the transfer of their clients.”
Whether an advisor or practice is joining WFAFN from a wirehouse, regional firm, or a different independent model, inherent in the transition is a wide range of details, tasks, and regulatory requirements—the most critical and emotionally charged of which is the way the book of business is transitioned. André says, “We understand the significance of creating an early emotional connection with the advisor based on a mutual understanding and appreciation for what he or she is undertaking. We take time to fully understand the business owner’s book of business, and we anticipate needs and potential obstacles. Also, we ask questions—lots of them. Fewer surprises on the front end equates to fewer surprises on the back end.”
André and his transition team educate and coach advisors throughout the transition process by connecting them to the appropriate resources and information to help ensure success on day one. This includes product, platform, operations, practice management, branding, supervision, and technology conversations. By the time the advisor’s registrations move to WFAFN, he or she is fully prepared to focus solely on clients.
André emphasizes another key factor that contributes to WFAFN’s successful client transition formula. He says, “The average WFAFN business owner has 16 years of industry service. WFAFN is composed of a very tenured, distinguished, and successful group of advisors, and we’ve seen time and time again that after all those years, their clients are truly their clients. The loyalty and relationships are firmly with the advisors.” André continues, “We keep in close contact with each new practice. We want to know how things are going; if our business owners are happy, we are thrilled. If there are frustrations, we are there helping to put them to rest. In the background, we monitor replication rates compared to what experience has shown us to be healthy progress, so we maintain a proactive presence in the critical post-transition weeks.”
So why WFAFN?
WFAFN is a destination that provides freedom and flexibility in how advisors establish, market, and run their businesses. That flexibility, combined with the strength of the Wells Fargo brand and platform, creates an environment that allows advisors to serve their clients with a purposeful and intimate approach. In addition, each WFAFN practice has the opportunity to create its own culture, serve their clients as they see fit, and determine what their legacy will look like.
“By the time the advisor’s registrations move to WFAFN, he or she is fully prepared to focus solely on clients.”
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN). The Cowan Group is a separate entity from WFAFN.
Wells Fargo Advisors Financial Network, LLC, Member SIPC, is a registered broker/dealer and a separate nonbank affiliate of Wells Fargo & Company. © 2018
Wells Fargo Advisors Financial Network, LLC. All rights reserved.