Wachovia Corporation has announced that it has completed the conversion of SouthTrust Securities brokerage systems and client accounts to the Wachovia Securities system. The brokerage conversion included 59,000 client accounts and $3.1 billion in client assets.
With the completion of the brokerage conversion, SouthTrust Securities financial advisors are now serving clients as part of the Investment Services Group of Wachovia Securities and SouthTrust Securities online brokerage clients can now use the online services of Wachovia Securities.
As of March 30, 2005, Wachovia Securities had 5.9 million active client accounts and clients assets totaling $644 billion. The firm’s 10,500 registered representatives serve clients through some 700 stand-alone Wachovia Securities brokerage offices in 49 states, as well as through 3,300 Wachovia Bank financial centers.
The merger of Wachovia Corporation and SouthTrust Corporation was announced June 21, 2004, and consummated November 1, 2004, and the conversion of retail and wholesale banking systems and accounts will occur in two phases during the summer and fall.