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Wells Fargo Veteran Leaves for Growing Rival

By Alex Padalka January 8, 2019

A veteran Wells Fargo financial advisor has left the firm to affiliate with Carson Wealth, which is part of Carson Group Partners, according to Carson.

Joel Worsfold and his team at Worsfold Wealth Management join Carson Wealth in order to expand their access to financial planners, legal and tax advisors and back-office support, Carson Wealth says in a press release.

As part of Carson Wealth, Worsfold will keep active majority ownership of his firm as well as continue handling all business decisions and operations in the firm’s Des Moines, Iowa, office, according to Carson Wealth.

Worsfold has been in the financial services industry since 1988 and came to Wells Fargo in 1994, according to his BrokerCheck profile.

He left Wells Fargo “to join a like-minded group of progressive advisors who are leveraging the latest in technology and to offer Worsfold Wealth’s clients a more compelling and responsive experience,” according to the press release.

"Carson Wealth was really the only firm that culturally aligned with our mission and purpose for putting our clients at the center of everything we do," Worsfold says in the press release. "This decision represents a monumental move to not only improve the financial health and stability of our business but the actual physical health of our team, including myself. We needed a trusted partner that could support us with better technology and a seamless experience, so we could serve our clients in the way we’ve always wanted."

(Getty)

Wells Fargo has lost more than 1,000 financial advisors since the 2016 revelations that employees in its retail banking unit opened millions of accounts without client authorization.

And the sales practices at the company’s wealth management unit are currently under investigation by the SEC and the Justice Department.