Wells Fargo Advisors has mandated that producing managers in major markets choose between managing client assets or overseeing branch offices. The firm told AdvisorHub that it aims to focus its leadership on growth in strategic areas, requiring full-time commitment to either branch management or client service. Producing managers in smaller, rural branches may continue in dual roles, but those in markets where Wells seeks growth must now specialize, according to Sol Gindi, head of Wells Fargo Advisors.

The shift reflects industry trends, with complex management demands and potential conflicts inherent in dual roles. AdvisorHub reports that some firms, such as Merrill Lynch and Morgan Stanley, still maintain producing manager roles in select offices, while regional firms like Raymond James Financial remain open to dual responsibilities.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.