It’s vital to recognize that Investment and Insurance Products:
- Are Not FDIC Insured or Insured by Any Federal Government Agency
- Are Not Deposits or Obligations of, nor Guaranteed by, Wells Fargo Bank or Any Affiliate
- Are Subject to Investment Risks, Including Potential Loss of Principal.
Within WIM, clients gain access to financial products and services through Wells Fargo & Company affiliates. Banking products and services are specifically channeled through Wells Fargo Bank, N.A., Member FDIC, ensuring the security and reliability associated with FDIC-insured deposits for those particular offerings. For brokerage needs, Wells Fargo Advisors steps in, operating under the trade name encompassing Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, both members of SIPC and separate registered broker-dealers, distinct from bank affiliates.
Wells Fargo Bank, N.A. (“the Bank”) is the entity providing a range of banking, advisory, fiduciary, and custody services, which includes discretionary portfolio management. It is important to note that Wells Fargo affiliates, such as Financial Advisors of Wells Fargo Advisors, may receive referral fees for connecting clients with the Bank’s services. In such cases, the Bank assumes responsibility for the ongoing management of the referred accounts.
Clients should be aware that Wells Fargo & Company and its affiliates do not offer tax or legal advice. It’s imperative for individuals to consult with their own tax and legal advisors to understand how any financial information or strategies may apply to their unique circumstances. The realization of any anticipated tax outcomes is dependent on the specific facts of a client’s situation at the time of tax filing.
Understanding these distinctions is key to navigating the comprehensive financial services offered by Wells Fargo and its affiliates, ensuring clients are well-informed about where they are receiving services and the nature of the products involved, particularly within the context of Wells Fargo Private Bank’s offerings.
