As reported by AdvisorHub, Wells Fargo Advisors' employee division has kept a steady recruiting tab of over $2 billion in forgivable loans, signaling its ongoing efforts to attract new talent with high-end offers. According to an annual broker-dealer report filed with the SEC, the balance for these loans saw a slight decrease from the prior year, falling by about 1.5 percent to $2.162 billion in 2023 from $2.196 billion in 2022.

Wells Fargo has been aggressive with its recruiting offers, known as "forgivable loans." Barry Sommers, leader of Wells Fargo's Wealth and Investment Management division, stated that the up-front and back-end components of the payouts can reach up to 400 percent of advisors' trailing 12-month production ("T-12").

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