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Wells Fargo
Wells Fargo brings its stage coach to the investing arena with a mid-priced online brokerage offering.
Wells Fargo (San Francisco, CA; $101 billion; 10 million ATM
cards) added WellsTrade, a discount brokerage service, to its Web
offerings. By Internet standards, the service is premium priced at $29.95
plus $0.03 per share after the first 1,000. But less-frequent traders likely
to use a bank offering, aren’t likely to care about paying an extra $15 for
a couple trades per year. Especially if the program is integrated with their
bank account through online funds transfer. The company worked with
Philadelphia-based BHC Securities to develop the online program.
Contacts: At Wells, Cliff Gerrish is Mkt. Mgr. Private Client Services;
Dudley Nigg is EVP, (415) 477-1000.
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