Wachovia Takes Over A. G. Edwards

Wow! Hard on the heels of Bank of America gobbling up U.S. Trust, Wachovia announces the acquisition of St. Louis brokerage A. G. Edwards. The venerable firm will be folded into Wachovia Securities.

A recent Bloomberg report explains why regional brokers like A. G. Edwards were ripe for the picking.

For a healthy dose of comparative statistics on the major wire houses and other data, see Retail Brokerage– Defining the End Game, Wachovia's presentation to investors.