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Article: Advanced Equities to Acquire First Allied Securities, Unit of Wells Fargo.
- Article from:
- Business Wire
- Article date:
- January 6, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO & SAN FRANCISCO -- Advanced Equities Financial Corp. ("Advanced Equities") and Wells Fargo & Company (NYSE:WFC) announced today they have signed a definitive agreement for Advanced Equities to acquire FAS Holdings, Inc. and First Allied Securities, Inc. which are currently subsidiaries of Wells Fargo.
First Allied is a leading provider of full-service brokerage and investment services to retail clients through independent-contractor financial consultants and broker/dealers. It has 92 team members and 465 contracted representatives operating in all 50 states. Advanced Equities said that First Allied would be operated as a separate broker-dealer within its ...