Wells Fargo has announced that Wachovia Exchange Services (WES) will now operate as Wells Fargo 1031 Exchange Services. As a result, WES, which has been providing 1031 exchange services for individual taxpayers and corporations, will now do so under the Wells Fargo name. Reportedly, it will also continue to host its annual 1031 Like-Kind Exchange Seminar, now in its 11th year, to be held on May 13 to 14, 2010, at the InterContinental Buckhead Hotel in Atlanta, Georgia.
It has been reported that WES’ 1031 staff is now part of Wells Fargo’s Corporate Trust Services team. For 75 years, Wells Fargo has provided its clients with fiduciary, trustee and agency services. Wells Fargo 1031 Exchange Services clients are expected to benefit from Wells Fargo’s product offerings, including qualified trusts for clients seeking security for their exchange proceeds.
Kristine Coates, national 1031 product manager, said: “We are excited about joining the Wells Fargo team. As part of one of the world’s largest, most diversified and most respected financial services companies, we can provide outstanding security for taxpayer’s 1031 funds. The combination of Wachovia and Wells Fargo will allow us to serve clients from coast-to-coast and enhances our position as a premier national qualified intermediary provider.”
