Wells Fargo Funds Management, LLC is a large advisory firm based in San Francisco. It manages $203.52 billion of regulatory assets for 18,206,890 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.
Wells Fargo Funds Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Wells Fargo Funds Management, LLC is $203.52 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 187% since the beginning of its operation, and $18.21 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Wells Fargo Funds Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Wells Fargo Funds Management is investment companies with 128 clients and $194.26 billion of assets under management. Among the 11 most similar advisory firms, Wells Fargo Funds Management has the 3rd highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $202.64 billion for 4,814 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Wells Fargo Funds Management also advises several private funds. Namely, five hedge funds, two liquidity funds, and twenty other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $143,644.
The company employs 459 people that are either part- or full-time employees. 4 percent of the employees work as investment advisers or researchers. 156 employees are registered as investment adviser representatives with the state securities authorities.
There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
The principal office where Wells Fargo Funds Management, LLC performs its advisory services is located at 525 Market Street 12 Th Floor, San Francisco, CA 94105, which is also the mailing address of the firm. An additional office of the firm is in Menomonee Falls, WI. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 415-396-8000 or by fax 415-979-0195. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at wellsfargo.com.