U.S. Markets closed

Wells Fargo Advisors seeks "hybrid" advisers, Reuters reports

Wells Fargo Advisors Financial Network is setting up a new business to attract "hybrid" advisers, a response to the growing allure of independence to brokers who manage money for wealthy individual investors, reports Reuters. The program has not been publicly announced, It will provide back-office, trading, regulatory and other business-management services to independent advisers who manage money for a fee but want to collect commissions from past or future sales of annuities, mutual funds and other products.