Wach and Wells custodians

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Nov 23, 2008 5:58 pm

Anyone know who the custodian is for Wach and Wells bank brokerage accounts? Are Wach guys going to have to port all their accounts to a new platform or do they both use NFS or similar?

Nov 23, 2008 6:43 pm

I think Wacovia is self-clearing....consolidated on the WachEdwards platform.

Nov 23, 2008 7:11 pm

I believe Wachovia uses First Clearing Corp (FCC)

Nov 23, 2008 7:41 pm

I believe Wachovia uses First Clearing Corp (FCC)

Yes WacSec clears via First Clearing. Wells brokerage will switch to the WacSec platform, 1300 vs 15000, makes sense. Will be part of ISG i would guess.

Nov 23, 2008 7:49 pm

Wach owns First Clearing which is who they clear through