Wachovia, A.G. Edwards merger will put firm at top of Wichita brokerage list - Atlanta Business Chronicle:

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's $6.9 billion acquisition last yearof St. Louis-base gives the combined financial planning firm 46 Series 7 registered securities brokerszin Wichita, according to the Wichitas Business Journal's list of securitieds firms, on page 13. But the companies slowluy are merging their functionsand don'tf expect totally to be combined and rebrande until 2009. So they appear separatelt in the WBJ's list. Together, they would have been No. 1. The top firm remaines , which reports 40 Serieds 7 brokers. "I figured they'd be No. 1 with theirr merger," says Edward Jones' Kevin Lewis, who leadsw the firm in the Wichita area.
"oI think the environment in general -- regardless of Wachoviq and A.G. Edwards -- has continued to get more A.G. Edwards employees in Wichita will begin answering phones as Wachovia representativesMarch 1. They'l l combine their payroll and employee benefitas onJuly 1. And they'll completew their final back officr consolidation inFebruary 2009. "We're brotherd now, just not under the same roof," says Mark a Wichita manager for Wachovia, which leasea space at the Premier Office Buildingb near 37th Street North andRock A.G. Edwards owns its building at 300 S.
The two firms likely will keep both offices in part because neither facility could housre theentire firm, Douglas this year reported having 33 Series 7 financial advisors, makinhg it the No. 2 firm on the Wachovia Securities was 11th with 13registered brokers. "It creates a lot more visibilitt forthe brand, which in turn helps all the advisorsw as they try to gain new Douglas says. Competitors are watching the changingh dynamic. "They have now, by far, more client-faciny advisors than anyone else saysChris Watkins, at , whichg has 19 Series 7 advisors. UBS was seventhy on this year's list, reporting 12 fewer brokersw thanlast year.
But Watkins says the firm this year onlyreporteed client-facing advisors rather than all of its Seriex 7 staff, some in suppor t roles. moved from 11th to sixth durint thepast year, adding seven brokersa at its bank branches. They recruit business from bank customers. "That model's worked well for us," says Rod Pitts, executivre vice president for . Lewis, at Edward says his firm won'tg easily give up the No. 1 spot, which he says is "important from a brand recognition and marketpresence standpoint." The firm plands to add four advisor s this year in the Wichita metro, he says. A.G. Edwarde & Sons Inc. Address: 300 S. Wichita, Kan., 67202.
Phone: (316) 267-0300. Top Wichita Roger Buller. Address: 8300 E. Thorjn Dr., Suite 250, Wichita, Kan., 67226. Phone: (800) Top Wichita executive: Mark