Wells Fargo’s wealth, brokerage and retirement (WBR) unit has launched a new investment unit, called Wells Fargo Investment Institute (WFII).
Managed by Darrell Cronk, WBR’s CIO and president of WFII, the new unit will provide advice to the company’s financial and wealth advisors and clients.
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It will also collate the investment research, strategy, manager research and publications teams from WBR’s four lines of business.
The WFII team will also provide superior economic and market research and advice to allow its advisors strengthen client relationships and better achieve clients’ investment goals.
Wells Fargo said that the investment unit will initially include the manager research, alternative investments and national investment strategy teams that were formerly part of Abbot Downing, Institutional Retirement and Trust, Wells Fargo Advisors and Wells Fargo Private Bank.
David Carroll, head of Wells Fargo WBR, said: "Darrell brings a well-rounded understanding of the investment business and a thoughtful approach to management."
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By GlobalDataCronk said: "I’m excited to lead this new group and enhance our efforts to deliver a consistent experience and our best solutions to our clients."
