Wells Fargo, a major banking giant, is gearing up for a competition in the wealth management sector following its impressive $1 billion turnaround. The bank is focused on expanding its wealth management division to cater to affluent clients, aiming to capitalize on the growing demand for wealth advisory services. This move comes after Wells Fargo faced regulatory challenges and customer trust issues in recent years. The bank is now seeking to rebuild its reputation and diversify its offerings by investing in wealth management services, aiming to compete with other financial institutions in this lucrative market.