More of the same old stuff.
“Advisers Blew Whistle on Wells Fargo Wealth Unit,” The Wall Street Journal, July 28 2018 B1. Sales incentives drive improper behavior at Wells Fargo. Again.
The good news is that four Wells Fargo financial advisers tipped off the DOJ and the SEC to what was happening. High-wealth investors were steered to investments that would result in higher fees paid to Wells Fargo.
So the culture wasn’t entirely corrupt. There’s hope.