Wells Fargo & Co.'s wealth and investment management division is strengthening its support for registered investment advisors (RIAs) with the addition of Megan Hausmann as a lead recruiter for its RIA Solutions group.

Unlike its wirehouse competitors- Merrill Lynch, Morgan Stanley, and UBS- Wells Fargo has taken a more flexible approach for its approximately 12,000 financial advisors. InvestmentNews reports that the firm has simplified the transition process for advisors moving to its independent broker-dealer platform, Wells Fargo Advisors Financial Network (FiNet), thereby expanding career options within the firm.

Wells Fargo has been steadily growing its presence in the RIA space. In November, the firm hired another former Apex Clearing executive, George Tamer, for a senior role within the RIA Solutions group. Additionally, Wells Fargo offers clearing and custody services for unaffiliated broker-dealers through its First Clearing unit.

According to InvestmentNews, industry experts have long speculated on Wells Fargo's commitment to the independent RIA sector, with some questioning whether a stronger focus on this area could undermine its wirehouse and employee wealth management franchise.

However, firms such as Raymond James Financial Inc. and LPL Financial have successfully integrated multiple advisor models, offering employee, independent contractor, and RIA channels.

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