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

[quote=YTB]I believe Wachovia uses First Clearing Corp (FCC)[/quote]

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