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Jan. 6, 2005 / 1:49 PM

Advanced Equities buys Wells Fargo units

CHICAGO, Jan. 6 (UPI) -- Advanced Equities Financial of Chicago said Thursday it has acquired FAS Holdings Inc. and First Allied Securities from Wells Fargo & Co. of San Francisco.

Advanced Equities is an investment firm.

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Terms of the deal, which is expected to close by April 1, were not disclosed.

First Allied has 92 team members and 465 contracted representatives operating in all 50 states.

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