Wells Fargo issued the following announcement on Dec. 11.
Wells Fargo Advisors today announced $0 trades on the WellsTrade® self-directed trading platform for stocks and exchange traded funds (ETFs).
“WellsTrade offers investors an online solution to make independent investment decisions. We know do-it-yourself trading is one of several ways investors manage their money,” said Jim Hays, president of Wells Fargo Advisors. “We believe Wells Fargo Advisors is well positioned to serve clients who value the convenience of online investing, or a full-service relationship with a financial advisor, or who a desire a holistic relationship that offers both.”
WellsTrade enables investors to obtain real-time quotes, screen investments and review interactive charting and research from Wells Fargo Investment Institute, the company’s investment strategy and research arm, as they buy and sell stocks directly. Clients can trade stocks, ETFs, mutual funds and options. The new commission applies to trades placed online in stocks and ETFs, excluding penny stocks.
“We recognize many factors encouraging change in the industry. Investor demographics are shifting along with their digital expectations,” said Joe Nadreau, head of Independent Brokerage and Platform Services at Wells Fargo Advisors. “After thoughtful review, we realized changing our commission structure was right for our clients and business.”
For more information, visit wellsfargoadvisors.com/wellstrade.
Original source can be found here.
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