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Rating:Wells Fargo Allies With AmEx Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, April 20, 2000

Wells Fargo Allies With AmEx

Reported by Jason Shank

American Express Financial Advisors (AEFA), a division of American Express and Well Fargo today announced an alliance to sell certain investment products via each other's distribution networks.
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The firms also announced The two companies also announced the pending introduction of two new annuities, the Wells Fargo Advantage Variable Annuity and the Wells Fargo Advantage Builder Variable Annuity issued by American Enterprise Life Insurance Company, another division of AmEx.

Wells Fargo currently distributes its products through its 850 affiliated "financial consultants" and AEF through its 11,300 financial advisors. Under the new agreement, all of the intermediaries involved would sell both Wells and AEF mutual funds, as well as the two new variable annuities. The two firms may also look into ventures in "trust, insurance and "other investment services," according to a statement.  

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