MBL Advisors Holdings LLC bought most of the assets of Barry, Evans, Josephs & Snipes Inc., an insurance advisory firm that provides large-scale wealth transfer plans for high-net-worth individuals and corporate and executive benefit plans, from Wells Fargo & Co.

MBL changed the advisory firm's name to Wachau Insurance Advisors Inc. when the acquisition closed Wednesday. MBL bought the corporate charter, administrative systems, database, carrier relationships and most of the long-term client relationships.

Wachovia Corp. bought the advisory firm in 1999 and sold the Barry, Evans name and a limited number of client relationships last year to the son of one of the founders who was active in the business. (Wells bought Wachovia at yearend.)

Wells will retain a small number of client relationships, and MBL will provide administrative services to Wells Fargo Insurance Services in those situations.

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