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Wells Fargo Completes Conversion of Investment Businesses

ST. LOUIS, January 27, 2011 – Wells Fargo Advisors, one of the nation’s largest investment brokerage firms, has successfully completed the conversion of Wells Fargo Investments, WellsTrade and H.D. Vest onto its brokerage technology platform. This conversion includes 1.9 million clients with $131 billion in assets and marks a significant milestone in the overall Wells Fargo and Wachovia integration. “The brokerage conversion has gone extremely well,” said David Carroll, head of Wells Fargo’s Wealth, Brokerage and Retirement (WBR) division. “With brokerage clients across all of our channels on a single operating platform, we can provide a consistent experience and common products and services.” Clients will continue to work with their same Financial Advisor, but now will have access to additional products and services, including sophisticated investment planning resources. Financial Advisors also will benefit from an enhanced front-end system and a common platform for trading and brokerage activities. Wells Fargo Investments, WellsTrade and H.D. Vest were part of legacy Wells Fargo’s brokerage operations. Wells Fargo Investments now operates under the Wells Fargo Advisors name and includes Financial Advisors who are based in bank stores. WellsTrade is the online and discount brokerage service, and H.D. Vest works with independent tax and accounting professionals to integrate financial services into their practices. Carroll attributed the conversion’s success – completed on target and as designed – to careful planning and partnership across Wells Fargo. The brokerage integration team, he said, has significant integration experience that includes successfully completing 10 conversions over the past 13 years. Wealth, Brokerage and Retirement is a growing part of Wells Fargo with significant market share in all of its businesses and a key component of Wells Fargo’s strategy to provide for all of customers’ financial needs. WBR has more than 25 years of experience operating a successful banking and brokerage model. “We work closely with other parts of the company, including Community Banking and Commercial Banking, to help customers succeed financially,” Carroll said. “Our multi-channel business model enables clients to choose how they want to do business with us and provides a competitive advantage.” About Wells Fargo Advisors St. Louis-based Wells Fargo Advisors is one of the nation’s top brokerage firms with nearly 15,200 Financials Advisors and $1.2 trillion in assets. This vast network of advisors serves clients through offices in all 50 states and the District of Columbia. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC (members SIPC). Statistics include other broker-dealers of Wells Fargo & Company. www.wellsfargoadvisors.com About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America.  Wells Fargo & Company was ranked No. 19 on Fortune’s 2009 rankings of America’s largest corporations.

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