SAN FRANCISCO Wells Fargo & Co. has completed its acquisition of H.D. Vest Inc., an Irving, Tex., tax and financial advisory firm.
The San Francisco banking company said Tuesday that it had paid $21.03 in cash per share, or $127.5 million, the same price as when it announced the deal in March. The price was a 0.6% premium to H.D. Vests Friday closing price.
H.D. Vest uses 6,000 independent contractors to provide financial planning and tax advice to 1.8 million customers. Wells Fargo plans to cross-sell its banking services, including personal trust, mortgage, and insurance, to these clients.