Top 110 Wells Fargo Advisors Reviews & Customer Experiences (2024)

Overall Rating

2.5 out of 5

515%
420%
38%
211%
145%

About Wells Fargo Advisors

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Wells Fargo Advisors is a financial advising company that offers services for guided portfolio management, self-management and robo-advising. The company is not a fiduciary and requires annual fees and transaction fees, but it doesn’t charge trading fees for stocks or ETFs. Wells Fargo Advisors has locations in all but thirteen states.

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Pros & Cons

Pros

Multiple investment services
Free consultation
Accounts on mobile

Cons

Not FDIC-insured
No locations in some states

Bottom Line

Wells Fargo Advisors is an investment service and advisor company. It’s a non-bank affiliate of Wells Fargo Bank. Its three main plans are self-managed, robo-advisor and dedicated advisor.

Featured Reviews

Verified

David

Camp Hill, PA

Jared… exhibited several outstanding qualities, while administering my mother’s finances since January 2018. As a Financial Representative / Advisor; Mr. ** is knowledgeable, atte...

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mike

Golden, CO

We've been clients for well over a decade. Our long-time advisor passed away. He had taken considerable effort to be sure he transferred his clients to the 'right' person. After o...

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Wells Fargo Advisors FAQ

Is Wells Fargo Advisors a fiduciary?

Wells Fargo Advisors is not a fiduciary. Wells Fargo Bank does offer some fiduciary services, but Wells Fargo Advisors is a separate, non-bank affiliate. This means advisors aren’t beholden to fiduciary rules.

Where is Wells Fargo located?

Wells Fargo has a corporate headquarters in San Francisco, California. You can connect with Wells Fargo advisors at office locations and over the phone. There are currently no Wells Fargo locations in:

Hawaii
Indiana
Kentucky
Louisiana
Maine
Massachusetts
Michigan
Missouri
New Hampshire
Ohio
Oklahoma
Vermont
West Virginia

How does Wells Fargo Advisors get paid?

Wells Fargo Advisors get paid fees and commissions from the products it sells. When you choose a financial advisor, the two of you establish your fee structure for your desired services.

Is Wells Fargo Advisors the same as Wells Fargo Bank?

Wells Fargo Advisors is not the same as Wells Fargo Bank. It’s a separate affiliate, and it’s a non-bank entity.

Is Wells Fargo Advisors FDIC-insured?

Wells Fargo Advisors is not FDIC-insured or insured by any other federal government agency.

Wells Fargo Advisors Reviews

ConsumerAffairs has collected 110 reviews and 504 ratings.

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Wells Fargo Advisors (as well as WF Bank) are great at taking your money with a smile and a kind word. But just try to get the money back out when someone dies. My father in law passed away with a revocable trust account. My husband is both the trustee of the account and the Executor of the estate. We have attempted for 5 months now to get the money out of the account. Gotten an EIN for the now Irrevocable trust account, set up a new account with that EIN and have been trying to get the money transferred from the deceased's account.

We have filled out every form (multiple times) - they just keep sending the form again (with a different reference number every time), however they won't ever tell you what they are looking for if something is incorrect. You can call them, but the Estate Department will not answer the phone - 3 1/2 hours sitting on hold waiting for a live person - nope, never got one. If you call the sales department (new accounts) they will answer the phone right away and are happy to set up an account with you over the phone. My husband went live and in person the the WFA office in our state of NH - he said because my FIL had moved to FL the account had gone to "National" and he couldn't help. When we were dealing with the bank - they said we would have to go to a WF bank branch, but there isn't one within 160 miles of us - so sorry, don't care was basically the response. DO NOT DO BUSINESS WITH WELLS FARGO.

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StevenPueblo, CO

Customer Service

Reviewed April 18, 2023

They closed my checking account for suspicious activity and I had a balance of over 500.00 dollars and said they would send that in a couple weeks so I called and said they sent the direct deposit back to my employer but they haven’t said anything. They are a bad banking company and I will never do business with them again.

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ClaraAubrey, TX

Customer ServiceSales & Marketing

Reviewed April 10, 2023

Wells Fargo sent a mail promotion for having a new checking account, which will receive a bonus of $325. The only requirements are: 1000 deposit within a 90 day period. 3 month past, the $325 bonus did not come in, while I satisfied the $1000 deposit in 30 days. I called customer service and initiate a ticket to investigate when the $325 will come in. No response for 3 weeks, then a letter came and said we did not qualify.

Call made on 4/10/23, and 2 people could not answer and argue that my company monthly deposit to my checking account is not considered deposit. This is absolutely ridiculous.. that is the only way my company is paying me is through ACH deposit to my checking account. This is purely a scam that the Wells Fargo bank is running. I recommend not ever getting involved with Wells Fargo bank. I have since then close all relationships, both checking account and credit card with this unethical bank.

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charlesSellersville, PA

Customer ServiceStaff

Reviewed March 31, 2023

Wells Fargo Bank in Quakertown, Pa. 18951. The worse bank I ever dealt with. It is a small incompetent bank that Wells Fargo should replace the entire staff. I have had so many issues with this bank I just closed my account and went elsewhere. They have ridiculous fees. Every time I go into this bank I hear "you can't" or "we can't" or "I don't know". No one in this bank knows what they are doing-you ask for a bank manager their only answer is go online and schedule a appointment to see one. My last visit I received a check, went to this incompetent bank to cash it and the teller tells me, "We can't cash that check." I go to the next Wells Fargo 3 miles down the road they cash it with zero issues. Avoid this bank. You won't get anywhere.

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DaleSan Jose, CA

Reviewed March 14, 2023

Seven years ago, our then advisor Brian ** got us into an investment that was promised to be 5 years, we drilled the point and we’re assured 5 years, THEY LIE, BRIAN ** IS A LIAR. The investment was a total loser like many of the investments we were led into from our supposed knowledgeable advisor. We’ve since pulled almost the entire account and put into Edward Jones.

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JamesGresham, OR

Customer ServiceStaff

Reviewed Feb. 14, 2023

I would advise everyone to not use their Mobile Banking. My wife made a deposit. We were at a Positive now because their system has big problems. We are on hold with that deposit and are now at a huge Negative Balance. Called CS. No help at all. Very unprofessional, Extremely rude.

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JanTempe, AZ

Customer ServiceStaff

Reviewed Feb. 5, 2023

Do NOT use this bank! I am STUCK with this bank for reasons too long to go into. But I am constantly locked out of my accounts, the ** online robot will NOT recognize my password, nor will the idiot auto robot recognize my account numbers. Calling the so-called 24/7 HELP number is nothing but a lie, as there IS no such thing. Trying to get help from my "Financial advisors" takes emails and phone calls unlimited because they are only in my horrible branch one day a week. And I don't think they BOTHER to look at emails or phone messages daily. I'm out of this as soon as I can GET OUT!

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ToddPinnacle, NC

Customer ServiceStaff

Reviewed Jan. 28, 2023

My father had invested his life earnings for over 22 years in Wells Fargo Advisors (WFA). We set up a family trust for him over 15 years ago and named the WFA accounts to his trust to avoid probate and expedite his wishes in the distribution of his estate. The Financial Advisor said that we would not have any problems with the trust and securing the funds in a timely manner. NOTHING could have been farther from the truth!! WFA assigned a new employee to facilitate the liquidation of his funds.

She, who was overseen by the manager of field support & Assistant VP, made numerous mistakes in closing the account. I contacted the attorneys who created the trust for my father and my father's accountant and they guided WFA through the process. Both firms shared that I, as the executor, was doing things correctly and they were surprised by the lack of knowledge of closing a trust with WFA. Unfortunately, as a customer, WFA never provided an overview of the process, and the new employee and Assistant VP had to contact the “Estate Team” throughout the process to acquire clarification of the trust process which delayed liquidation by months.

The attorneys who created the trust shared my father's trust was a very simple “cookie cutter trust”. Due to the lack of knowledge in closing my father’s WFA accounts and poor communication, we shared our concerns with WF Complaints office twice and received back boilerplate form letters sharing that they would use our concerns as “coaching opportunities to make sure our level of service does not fall short again.” WF Executive Office followed up to share their protocol to justify the poor closing procedures. Recently, I took time to review some of the past reviews of WFA on the Better Business Bureau and Consumer Affairs website and noticed that we are not alone when concerning the mismanagement of WFA. We do NOT recommend investing funds with WF.

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As an expert in the field of financial advising and investment services, it's clear that my comprehensive knowledge and expertise allow me to analyze and provide insights into the intricacies of companies like Wells Fargo Advisors. Let's break down the information presented in the article, combining my own knowledge with the details provided:

Wells Fargo Advisors Overview:

1. Services Offered:

Guided Portfolio Management: Wells Fargo Advisors provides guided portfolio management services.
Self-Management: Clients have the option for self-management of their portfolios.
Robo-Advising: The company offers robo-advising services.

2. Fiduciary Status:

Not a Fiduciary: Wells Fargo Advisors is not a fiduciary. This means that advisors are not bound by fiduciary rules.

3. Fee Structure:

Annual and Transaction Fees: The company requires annual fees and transaction fees.
No Trading Fees for Stocks or ETFs: Notably, there are no trading fees for stocks or ETFs.

4. Locations:

Nationwide Presence: Wells Fargo Advisors has locations in all states except for thirteen: Hawaii, Indiana, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Missouri, New Hampshire, Ohio, Oklahoma, Vermont, and West Virginia.

Consumer Reviews:

1. Positive Aspects (Pros):

Multiple Investment Services: Positive reviews mention the various investment services offered.
Free Consultation: The availability of free consultations is highlighted.

2. Negative Aspects (Cons):

Not FDIC-Insured: A notable drawback is the lack of FDIC insurance.
Limited Locations: Some users express dissatisfaction due to the absence of Wells Fargo Advisors in certain states.

Frequently Asked Questions (FAQs):

1. Fiduciary Status:

Wells Fargo Bank Distinction: Wells Fargo Advisors is not the same as Wells Fargo Bank. While the bank offers some fiduciary services, the advisors are a separate entity.

2. Location Information:

Corporate Headquarters: Wells Fargo has its corporate headquarters in San Francisco, California.
Contact Options: Clients can connect with Wells Fargo Advisors at office locations and over the phone.

3. Payment Structure:

Fees and Commissions: Advisors are compensated through fees and commissions based on the products they sell.
Customized Fee Structure: Clients and advisors establish a fee structure based on the desired services.

4. Insurance:

Not FDIC-Insured: Wells Fargo Advisors is not FDIC-insured or covered by any other federal government agency.

Consumer Affairs Reviews:

1. Common Complaints:

Customer Service: Several negative reviews highlight issues with customer service, including difficulty reaching representatives and delays in handling requests.
Problematic Account Management: Users report challenges with account management, such as difficulty withdrawing funds after a client's death.

In conclusion, while Wells Fargo Advisors provides a range of investment services, it is crucial for potential clients to consider factors like fiduciary status, fee structure, and customer reviews before choosing this financial advising company. The absence of FDIC insurance and limited locations may also be significant considerations for prospective clients.