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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Parthenon Capital Partners

Wells Fargo sells H.D. Vest to private equity firm

Posted by RJ and Makay on Jul 11, 2011

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Wells Fargo and Co. announced last week that it will sell its H.D. Vest financial services business to private equity firm Parthenon Capital Partners.  The companies did not disclose the price of the deal. Wells Fargo determined that the retail brokerage unit did not coincide well with its Wells Fargo Advisors retail brokerage that services more affluent and wealthy clients through its force of 15,000 financial advisors.