Wells Fargo to sell HD Vest, thoughts?

or Register to post new content in the forum

10 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
May 17, 2011 1:27 am

Do you think HDV will be better off if sold to a PE firm as rumored? Do you think the WFC brand has been an advantage or disadvantage?

May 19, 2011 6:05 pm

Just heard from someone outside the company at another firm that LPL and Ameriprise are potential bidders. Wow...one option is ok, one not...

May 19, 2011 6:05 pm

Just heard from someone outside the company at another firm that LPL and Ameriprise are potential bidders. Wow...one option is ok, one not...

Jun 3, 2011 6:14 pm

I'm looking to buy books of business. Email with info of what you have at available at [email protected]

Jun 7, 2011 12:03 pm

Since HDVest is for sale, anyone considering joining them should pause, as being acquired by another BD would definitely mean a painful re-papering of accounts to the new BD (BTW: same for SecAmerica Inc).  Likewise, this is an opportunity for HDV reps to be proactive and find the BD that fits them best, rather than relying on WFC to make this decision.  Imagine having to re-paper all your accounts to the BD they choose, then realizing it's a horrible fit (Ameriprise?).  Better to get out in front of this and avoid this potential disaster. 

Indyguru

Jun 7, 2011 12:13 pm

As to the original question--I think the Wells Fargo name would be a small net positive for HDV reps, as it's more recognizable than HDV, which has little brand value to the general public. So at least they have some brand--but it depends on the clients as well.  I imagine most HDV reps use/share some version of the Tax/CPA firm brand. 

being acquired by a Private Equity (PE) firm is desirable in that they could invest into the BD to possibly improve it, and also could keep it independent--ie no near-term repapering pain.  Not sure if it makes much sense as HDV are mostly lower producing advisors, who's focus is sapped by tax practice, and the firm has very little scale potential or competitive advantage versus others.

Indyguru

Jun 13, 2011 3:01 pm

[quote=mmfw]

I'm looking to buy books of business. Email with info of what you have at available at [email protected]

[/quote]

Do you have any money or are you a subprime credit??

Jun 14, 2011 11:33 am

Ameriprise aquired H&R Block Advisors and I see it could make sense for them to aquire HD Vest. Ameriprise has come a long way in the last 5+ years, especially the franchise advisor platform.

Jun 14, 2011 1:10 pm

The consolidation trend is interesting. HD has been around forever.

Jun 30, 2011 8:49 am

[quote=TimesSeven]

The consolidation trend is interesting. HD has been around forever.

[/quote] So it looks like with senior mgmt (financed by PE) buying HD Vest, that trend is reversed? Perhaps they tired of sending money to papa Wells?