Customers Are Sticking With Wells Fargo, but So Are the Costs of Its Mistakes
Wide-moat Wells Fargo appears to be managing through the troubles created by widespread fraudulent sales practices. Branch interactions appear to be rebounding, down only 6% during the last 12 months, and customer satisfaction is inching back toward levels experienced last year. Deposits are not fleeing the bank--consumer and small business balances actually grew by an acceptable 7% during the year. New account openings remain well below normal levels (down 40% from a year ago), but we don't exp...Wells Fargo & Company is a financial and a bank holding company. Through its subsidiaries, the company provides banking, investment and mortgage products and services, as well as consumer and commercial finance. The company provides consumer financial products and services including checking and savings accounts, credit and debit cards, and automobile, student, mortgage and home equity and small business lending, as well as financial planning, private banking, investment management, and fiduciary services. The company also provides financial solutions including commercial loans and lines of credit, letters of credit, asset-based lending, trade financing, treasury management, and investment banking services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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