Two financial practices based in Connecticut and Utah have joined Wells Fargo Advisors Financial Network, Wells Fargo's independent retail brokerage arm, with a combined $225 million in assets under management.
The JayPex Financial group in Uncasville, CT, is comprised of financial advisors Jayme Lemaire and Jamie Nowakowski, with $1.1 million in production and over $96 million in AuM.
Between them, Lemaire and Nowakowski have 18 years of experience in the financial services industry and join Wells from Citizens Bank.
Meanwhile, in St George, UT, the Schofield group investment management team consists of father and son Richard and Dustin Schofield, who were most recently with Morgan Stanley Smith Barney. Together, they manage $128 million in assets, with 35 years of experience in the financial services industry.
“Starting our own practice and knowing that we have the support of such a large and recognizable broker-dealer was also important for us in transitioning to the independent channel,” said Dustin Schofield, vice president at the practice.
In 2011, client AuM within Wells’ financial network grew 18 per cent to reach $52.7 billion. The network encompasses almost 550 practices, managing $56 billion in AuM in total.