Reply #2: These won't be in the 6000 branches (or "stores" in WF nomenclature) [View All]

[FarCenter]

"The new Abbot Downing brand, set to launch in April, will seek to expand Wells' market share among the 10,000 households with $50 million or more in investable assets, the bank says."

They'll need to set up a few dozen offices to serve the potential market of 10,000 households.

Update: They will have 15 offices to start: San Francisco, Los Angeles, Scottsdale, Denver, Houston, Minneapolis, Chicago, Philadelphia, Charlotte, Winston-Salem, Raleigh, Naples, Jacksonville, Washington, D.C., and Palm Beach.

Nothing on Wall Street. Rich people don't live there.