Wells Fargo Advisors has hired Chase Investment Services financial advisor Thomas Phillips to its Austin, Texas branch office.
Phillips previously had $857,193 in annual fees and commissions and $85 million in assets under management. He has been registered with Wells Fargo since April 29, according to FINRA records, and was previously registered with Chase’s Austin, Texas office since December 2003. Phillips has also held positions with First Avantus Securities and Essex National Securities.
Wells Fargo reported $3.2 billion in revenue for its wealth, brokerage and retirement business in the first quarter, an 8% increase from the previous year as asset-based revenue and net interest income increased. The wealth, brokerage and retirement unit’s net income also rose to $339 million for the first quarter, the firm said in April, up $142 million from the fourth quarter and $57 million from the first quarter of 2010.