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Wells Fargo Clearing Services

SEC-registered adviser since 1990ST. Louis, MOCRD 19616

$671.4B
AUM
1,324,168
Clients
See fees
Fee
7,957
Advisory staff

From Form ADV filed 1 October 2026 · data retrieved 15 October 2026SEC record

Wells Fargo Clearing Services is an investment adviser headquartered in ST. Louis, Missouri, and registered with the SEC since 1990. Its clients include high-net-worth individuals, other individuals, and corporations and other businesses. High-net-worth individuals account for 74% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Fee arrangements include a percentage of assets under management, fixed fees and commissions. Wachovia Securities Financial Holdings, LLC owns 75% or more of Wells Fargo Clearing Services, and Barry Sommers is its CEO.

Clients

Wells Fargo Clearing Services serves 1,324,168 clients, 654,519 of them high-net-worth individuals. The average client has about $507,000 with the firm, and high-net-worth clients hold 74% of its $671.4 billion in assets.

Regulatory assets by client type
  • Individuals644,097 clients18%
  • High-net-worth individuals654,519 clients74%
  • Charitable organizations5,564 clients2%
  • Corporations and other businesses10,435 clients4%
  • OtherBanking or thrift institutions, Pension and profit-sharing plans, State or municipal government entities, Insurance companies, Other1%
Show client breakdown
Individuals (other than HNW)
Clients
644,097
Regulatory AUM
$122,514,556,616
Share
18.2%
Avg. per client
$190K
High-net-worth individuals
Clients
654,519
Regulatory AUM
$495,074,796,828
Share
73.7%
Avg. per client
$756K
Banking or thrift institutions
Clients
10
Regulatory AUM
$13,931,688
Share
0.0%
Avg. per client
$1.39M
Pension and profit-sharing plans
Clients
9,346
Regulatory AUM
$8,702,088,459
Share
1.3%
Avg. per client
$931K
Charitable organizations
Clients
5,564
Regulatory AUM
$14,669,916,487
Share
2.2%
Avg. per client
$2.64M
State or municipal government entities
Clients
64
Regulatory AUM
$823,111,400
Share
0.1%
Avg. per client
$12.9M
Insurance companies
Clients
23
Regulatory AUM
$392,769,566
Share
0.1%
Avg. per client
$17.1M
Corporations and other businesses
Clients
10,435
Regulatory AUM
$29,134,401,850
Share
4.3%
Avg. per client
$2.79M
Other
Clients
110
Regulatory AUM
$96,269,805
Share
0.0%
Avg. per client
$875K

Total

Clients
1,324,168
Regulatory AUM
$671,421,842,699
Share
100%
Avg. per client
$507K

What it does

Wells Fargo Clearing Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and other activities. It is paid through a percentage of assets, fixed fees and commissions.

Wells Fargo Clearing Services provided financial planning to 51–100 clients last fiscal year and advises no private funds.

71.3% of assets ($478.83B across 987,321 accounts) are managed with discretion; $192.59B across 336,847 accounts are not. $671.42B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 5,302 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks37%
    • Exchange-traded equities36%
    • Non-exchange-traded equities1%
  • Funds53%
  • Bonds8%
    • State and local bonds4%
    • U.S. government and agency bonds2%
    • High-yield corporate bonds2%
  • Cash2%

Custodians

Wells Fargo Clearing Services has custody of $665.67B for 1,306,709 clients.

Managed account assets by custodian
  • All other custodians$671.42B100%

Ownership and leadership

Wachovia Securities Financial Holdings, LLC owns 75% or more of Wells Fargo Clearing Services, and Barry Sommers is its CEO.

Who owns the firm
Wells Fargo Clearing Services, LLC· the adviser

  • Wachovia Securities Financial Holdings, LLC

    Control person · since December 2003

    Owns 75% or more of Wells Fargo Clearing Services, LLC

Leadership

  • Barry Sommers
    Chief Executive Officer / Board of Managers
  • Sol Gindi
    President / Head of Wim Distribution / Board of Managers / Control Principal
  • Rakesh Patel
    Chief Financial Officer / Board of Managers
  • Christos G Tsamadias
    Chief Compliance Officer
  • Darrell Cronk
    Head of Investment Solutions / Wim Chief Investment Officer / Board of Managers / Control Principal
  • Erik Anthony Karanik
    Board of Managers
  • Paul Lacey
    Principal Operations Officer / Control Principal
  • David Ward Saunders
    Designated State Principal
  • Prasanna Someshwar
    Head of Banking, Lending & Trust / Control Principal
  • Kimberly Crowder Ta
    Wealth Client Management Senior Executive/Control Principal

Staff

  • 18,895 employees
  • 7,957 in advisory functions
  • 15,038 state-registered reps
  • 18,895 broker-dealer reps
  • 13,779 insurance agents
  • 155 soliciting firms

Fees

Wells Fargo Clearing Services is paid through a percentage of assets under management, fixed fees (other than subscription fees) and commissions.

Wells Fargo Clearing Services’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Wells Fargo Clearing Services has 5,038 offices, with 26 listed addresses across 13 states.

Listed office addresses by state

Missouri · 2 listed addresses

  • One North Jefferson Avenue, Mail Code: H0004-05e, ST. LouisHQ
  • One N Jefferson Ave, ST. Louis

Other business names

Wells Fargo Clearing Services has reported 1 other business name to the SEC.

  • Wells Fargo Advisors

Registration details

Legal name
Wells Fargo Clearing Services, LLC
Headquarters
One North Jefferson Avenue, Mail Code: H0004-05e, ST. Louis, MO 63103-2205
Phone
314-875-3000
Website
www.wellsfargoclearingservicesllc.com
SEC file
801-37967
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Wells Fargo Clearing Services have?

Wells Fargo Clearing Services has 1,324,168 clients and manages $671.4 billion for them, as of October 2026. They include 654,519 high-net-worth individuals, 644,097 other individuals and 10,435 corporations and other businesses.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 October 2026

What services does Wells Fargo Clearing Services offer?

Wells Fargo Clearing Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and other activities.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Wells Fargo Clearing Services have?

Wells Fargo Clearing Services has 15,038 investment adviser representatives registered with state securities authorities, out of 18,895 employees, and 7,957 perform investment advisory functions. 18,895 are registered representatives of a broker-dealer and 13,779 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Wells Fargo Clearing Services invest in?

At the end of its last fiscal year, Wells Fargo Clearing Services’ separately managed accounts held 53% registered funds (mutual funds, ETFs, BDCs), 36% exchange-traded equities, 4% state and local bonds, 2% U.S. government and agency bonds, 2% high-yield corporate bonds, 2% cash and equivalents and 1% non-exchange-traded equities. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Wells Fargo Clearing Services?

Wells Fargo Clearing Services is owned through a chain of holding companies by Wells Fargo & Company. Its direct owner is Wachovia Securities Financial Holdings, LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 1 October 2026

How does Wells Fargo Clearing Services get paid?

Wells Fargo Clearing Services is paid through a percentage of assets under management, fixed fees and commissions. Its Form ADV lists no performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 1 October 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 19616.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Wells Fargo Clearing Services, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.