Las Vegas (May 30, 2003) -- Broker/dealer H.D. Vest will move its clearing services from National Financial to Wells Fargo as early as November, its president told Vest reps Thursday at the company's annual meeting in Las Vegas.

Vest, which became a non-bank subsidiary of Wells Fargo last year, has set November as the target date to move clients assets to WFI, president Roger Ochs announced Thursday during the opening general session.

Ochs said the move will enable the firm to leverage the Wells Fargo brand, will more closely align the back offices, and will allow the firm more influence over brokerage decisions.

Ochs also noted that the move will offer advantages for clients. The firm will wave the custodial fee for client IRA accounts over $100,000 and will wave the ticket charge for purchases over $10,000. Demos of the WF clearing technology are scheduled during the conference.

-- Melissa Klein

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