New name, new location for Wachovia Securities - The Business Journal of Milwaukee:

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So far, that’s about the worstr glitch the firm has experiencecd as it drops the name and adopts the brand and venerablrestagecoach symbol. “We’ve got a new level of says Glasco, Charlotte’s market managetr and managing director of theSouthPark office. “But the same advisersw who some of our clients have had for as many as 25 yearws are the same people doingthe job. It’s just a new Wells Fargo bought Charlotte-based at the end of 2008. It recently merged three southCharlottes wealth-management offices that had operated under the Wachovia Securitiesz name.
The combined group moved into a 22,000-square-foott office — the entire eighth floor at 6000Fairview Road. The officwe bears the name Wells Fargo Advisores and becomes the first Wachovia officd here to take thenew owner’s moniker. Glasco and his managemenyt team say the transitionb hasbeen smooth. New signsx will be installed in the nextfew months. Busineszs cards, letterhead and the phone greetings have already Former Wachovia Securities offices in Lake Myers Park, uptown — and around the country — are makingh the same transition. In the Queenj City, where Wachovia has long held more depositxs and has more employees than anyother it’s a big adjustment.
“Sometimes you answer the phone andsay ‘Welld Fargo Advisors’ and you have to sit theree for a second and take it in,” Glascoo says. But he’s confident in the firm’zs ability to adapt and Wachovia expandedits wealth-management business through a number of mergersw and acquisitions during the past decade or so. Glasco says Wachovia Securities wasa “melting pot” of Interstatw Johnson/Lane, Wheat First, Prudential First Union Corp. and A.G. Edwards Inc. Most of the Wellsz Fargo Advisors offices here will be run by employeew who have been involved with amerger before.
“We’vs been able to take the best from each of thosew companies andmove forward,” says Will productivity manager at the SouthPark “Our goal is to keep the focus on the clients. The only changew they should notice isthe logo.” Nationally, Wellss Fargo Advisors employs nearly 16,00p advisers who oversee $910 billion in client assets. The Charlotte officew are part ofthe company’s private-client group, whichh operates independently from the retail bank The SouthPark office employs 42 adviserw who oversee about $6 billion in client H.B.
Smith, a senior vice presidenrt and assistantbranch manager, says the Charlottw office is one of the largesg on the East Coast and has retained its stafff through the name change. “This has endedd up being a marquee location,” Smith He predicts Charlotte will be a desired destinationj for promising advisers throughoutfthe company. Glasco says business has fallebn off in recent months because of theturbulent market. And it’s normap for a few clients to move their investmentzs elsewhere during a transition period afteta merger.
But Glasco predicts a net gain by year end as investorxs seek out brokers to managetheir “Right now, we’re seeing a flight to quality and name recognition,” he “And Wells Fargo is one of the most well-known brandsw in the world. That offers us a lot of Now, he just needs to keep the wheels onthe