Wells Fargo Funds Management, LLC (San Francisco)

Name: Wells Fargo Funds Management, LLC
Address: 525 Market Street 12 Th Floor, San Francisco, CA, 94105
Telephone: 415-396-8000

Wells Fargo Funds Management, LLC is a large advisory firm based in San Francisco. It manages $203.52 billion of regulatory assets for 18,206,890 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Wells Fargo Funds Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Wells Fargo Funds Management: assets under management

The assets under management (AUM) of Wells Fargo Funds Management, LLC is $203.52 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 187% since the beginning of its operation, and $18.21 million of the total AUM is attributable to clients outside of the United States.

The firm manages $203.52 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $11.18 thousand each.

Wells Fargo Funds Management has custody of $1.16 billion in cash and securities for 1 client in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 52% of the total AUM. The second-largest asset type is state and local bonds, which make up 24% of the firm’s portfolio. Investments in investment and business development companies form 22% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wells Fargo Funds Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Wells Fargo Funds Management serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Wells Fargo Funds Management is investment companies with 128 clients and $194.26 billion of assets under management. Among the 11 most similar advisory firms, Wells Fargo Funds Management has the 3rd highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $202.64 billion for 4,814 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Wells Fargo Funds Management also advises several private funds. Namely, five hedge funds, two liquidity funds, and twenty other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $143,644.

Careers at Wells Fargo Funds Management, LLC

The company employs 459 people that are either part- or full-time employees. 4 percent of the employees work as investment advisers or researchers. 156 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc Wells Fargo Investment Group	Member	1 Dec 2000	75% - 100%	41-1975159
Clark David Messman	Director, senior vice president & secretary	1 Dec 2000	Other	4347204
Inc. Wells Fargo Investment Group	Member	1 Dec 2000	75% - 100%	41-1975159
Michael James Hogan	Director & president	1 Dec 2000	Other	1492040
Karla Marie Rabusch	Director, senior vice president, chief financial officer & chief administrative officer	1 Dec 2000	Other	1624644
Dorothy Ann Peters	Vice president & chief compliance officer	1 Dec 2000	Other	1204046
Catherine M Vacca	Vice president & chief compliance officer	1 Dec 2002	Other	4316814
Catherine Mary Vacca	Vice president & chief compliance officer	1 Dec 2002	Other	4316814
Andrew Nelson Owen	Director, senior vice president	1 Feb 2003	Other	4782698
Karla Marie Rabusch	Director & president	1 Mar 2003	Other	1624644
Stacie Denise Deangelo	Vice president & chief operating officer	1 Mar 2003	Other	2589411
Kenneth Leroy Niewald	Vice president & chief financial officer	1 Mar 2003	Other	3248140
Dorothy Ann Peters	Chief compliance officer	1 Aug 2004	Other	1204046
A Erdem Cimen	Senior vice president, chief financial officer & treasurer	1 Jan 2006	Other	5119808
Debra Ann Early	Chief compliance officer	1 Nov 2007	Other	4895449
William Douglas Munn	Chief operating officer	1 Jan 2009	Other	1990843
Nancy Wiser	Executive vice president & chief operating officer	1 Jun 2011	Other	2575981
Nancy Ann Wiser	Executive vice president & chief operating officer	1 Jun 2011	Other	2575981
Robert Joseph Guerin	Senior vice president & chief compliance officer	1 Nov 2014	Other	1799978
Paul Haast	Director, senior vice president, head of external investments	1 Apr 2015	Other	6485545
Paul John Haast	Director, senior vice president, head of external investments	1 Apr 2015	Other	6485545
Kristi Lynne Mitchem	President, ceo and director	1 Mar 2017	Other	2931323
Andrew Nelson Owen	President, ceo and director	1 May 2017	Other	4782698
Llc Wells Fargo Asset Management Holdings	Direct parent company	1 Jul 2017	75% - 100%	36-4863445
Michelle H Rhee	Secretary	1 Mar 2018	Other	2519781
Molly Festa Mcmillin	Chief financial officer and treasurer	1 Mar 2019	Other	5143419

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Wells Fargo & Company	Shareholder	1 Mar 2000	75% - 100%	41-0449260
Ragen Mackenzie Group Incorporated	Shareholder	1 Jun 2000	75% - 100%	91-1898738
Inc. Ragen Mackenzie Group	Shareholder	1 Jun 2000	75% - 100%	91-1898738
Wells Fargo & Company	Shareholder	1 Dec 2002	75% - 100%	41-0449260
Llc Wells Fargo Investments	Shareholder	1 Dec 2002	75% - 100%	10582
Wells Fargo & Company	Shareholder	1 Jan 2009	75% - 100%	41-0449260
Everen Capital Corporation	Shareholder	1 Jul 2017	75% - 100%	36-4019175
Llc Wfc Holdings	Shareholder	1 Dec 2017	75% - 100%	41-1921346

Based in San Francisco

The principal office where Wells Fargo Funds Management, LLC performs its advisory services is located at 525 Market Street 12 Th Floor, San Francisco, CA 94105, which is also the mailing address of the firm. An additional office of the firm is in Menomonee Falls, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 415-396-8000 or by fax 415-979-0195. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at wellsfargo.com.