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 On July 2, 2001 Wells Fargo Co. (NYSE: WFC) announced that it had completed its acquisition of H.D. Vest, Inc., the nation's largest provider of financial services delivered through tax professionals. The acquisition is believed to be the first of its kind in the banking industry. "H.D. Vest's network of tax professionals and the client relationships they manage will benefit from the broad array of Wells Fargo capabilities, including personal trust services, mortgages, and insurance," Dennis Mooradian, president of Wells Fargo Private Client Services, said at the time. "We are very excited about the strategic advantages of this partnership." "Our clients will benefit from Wells Fargo's capabilities as a nationwide financial services company," said Herb D. Vest at the time. "In addition to our existing products and services, our Advisors will now be able to offer their valued clients an expanded array of financial solutions." HD Vest is now owned and operated exclusively by Wells Fargo.
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