Wells Fargo Acquires Prominent Wealth Management Team from JPMorgan Chase
Wells Fargo has recently made a strategic move by acquiring the Weikes Slattery Group, a prominent wealth management team formerly associated with JPMorgan Chase. The team, led by Elizabeth “Liz” Weikes and John Slattery, brings with them $3.1 billion in client assets under management and $17 million in annual revenue production.
Team Background and Recognition
The Weikes Slattery Group, which also includes Executive Director Joe Gillan, Vice President Kevin Eisenberg, Vice President Bernadette Bucchere, and Associate Clarke Eastman-Pinto, has a strong presence on both coasts, with offices in New York City, San Diego, and Palo Alto, California. The team has received various industry recognitions, including being named one of the top private wealth management teams by Forbes.
Elizabeth Weikes and John Slattery bring a wealth of experience to the team, with Weikes starting her career at JPMorgan in 2009 and Slattery joining JPMorgan in 2018 after working at Merrill, UBS, Smith Barney, and Morgan Stanley. The team’s move to Wells Fargo Advisors is seen as a strategic decision to provide greater flexibility, broader investment solutions, and enhanced support for their clients.
Industry Insights
In January, JPMorgan reported having just over 4,000 private bank advisors and over 10,000 client advisors. On the other hand, Wells Fargo, while not publicly disclosing its advisor headcount, has confirmed that the number is roughly 12,000. This acquisition of the Weikes Slattery Group further strengthens Wells Fargo’s position in the wealth management sector.
Overall, this move highlights Wells Fargo’s commitment to providing top-notch wealth management services and enhancing its offerings to meet the evolving needs of clients. The expertise and track record of the Weikes Slattery Group are expected to further solidify Wells Fargo’s reputation in the industry.
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