Wirehouse Wells Fargo continues shedding financial advisors as the company tries to rebuild its reputation in the wake of a series of scandals dating back to the 2016 revelations of its banking employees opening millions of bogus accounts.

In Connecticut, financial advisors Kevin Carroll and Sam Shehu have joined LPL Financial and aligned with Gateway Financial Partners, LPL says in a press release.

The Glastonbury, Conn.-based pair previously oversaw $110 million at Wells Fargo Advisors, LPL says. Carroll joined the financial services industry in 1999 and had been with Wells Fargo for four years, prior to which he was at Merrill Lynch for six years, according to his BrokerCheck profile.

Shehu began his industry career in 1994 and had been with Wells Fargo for four years as well, according to BrokerCheck.

"Joining LPL and aligning with Gateway allows us the flexibility to run our firm the way we want to, which is having the freedom to decide what is best for our clients," Carroll says in the press release. "With Gateway's marketing and team support we are able to launch our new business and be positioned for ongoing growth. And LPL offers us the platform to be more efficient and helps us deliver a better experience to our clients."

Meanwhile, Justin Nichols has joined Robert W. Baird in Houston, ThinkAdvisor writes. He previously managed $240 million at Wells Fargo, according to the publication. Nichols has been in the industry since 1998 and with Wells Fargo since 2011, according to his BrokerCheck profile.

(Getty)
(Getty)

Wells Fargo has lost hundreds of financial advisors in the wake of the 2016 scandal at the bank and ensuing regulatory scrutiny of the entire business, though CEO Tim Sloan recently told the House of Representatives Committee on Financial Services that the wealth management unit follows the rules. Just over the past two weeks, Wells Fargo lost advisors to Stifel, Raymond James and Janney Montgomery Scott.