is cutting the list of investment options its brokers will recommend to high net worth clients, according to a Reuters report
The cuts are made to protect clients from exposure to certain types of investment models, according to reporter Jed Horowitz.
The report notes that huge firms including JP Morgan
] and Legg Mason
] are being impacted by the move.
A total of 633 out of more than 1,000 options are being removed from Wells Fargo's list.
The entire article is lengthy but important for anyone in the distribution game. Check it out here
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