Wells Fargo & Co has hired financial adviser J.D. Joyce from rival brokerage firm UBS Wealth Management Americas to expand its independent adviser division in Texas.
According to Reuters, Joyce moved to Wells after two decades at UBS, where he managed $306 million in client assets.
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He joined Wells Fargo Advisors Financial Network, or FiNet, the company’s independent broker-dealer for advisers who also function as business owners.
"I loved the concept of having my own business," Reuters quoted Joyce as saying, noting that owning his own practice has allowed him to understand better the needs of some of clients who are also business owners and deal with issues such as overhead costs.
"Now I get it because I’m out there shopping for healthcare benefits, lease negotiations and telephone systems," he said.
Joyce, based in Houston, formed the J.D. Joyce Investment Management Group at Wells. He was joined by senior registered operations manager Katie Letsos and senior portfolio administrator Dell Thomason.
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By GlobalDataJoyce started his advising career in the training program at the former PaineWebber brokerage.
