Prudential Financial
Wachovia Securities and the Prudential Securities Division of Prudential Financial combined on July 1, 2003. Wachovia owned 62% of this entity, while Prudential Financial owned 38%. At the time, the new firm had client assets of $532.1 billion, making it the nation's third largest full service retail brokerage firm based on assets. Much of the retail brokerage came from Prudential's previous acquisition of Bache &amp; Co.