HQ Location. Total Raised. Post Valuation. Last Financing Details. The company specializes in personal and commercial banking,. New York, NY. Westlake, TX. Add Comparison. Contact Us info pitchbook. Terms of Use Privacy Policy. Managing Director of Integrated and Digital Marketing. Financial Software. Information Services B2C. Waterhouse Investor Services, Inc. It was the nation's fifth-largest discount brokerage house in Through another wholly owned subsidiary, Waterhouse National Bank, a "virtual" bank with only one office, it electronically offers a variety of financial services and products, primarily to the customer base of Waterhouse Securities.
The company was founded by Lawrence M. Waterhouse, Jr. After the Securities and Exchange Commission ended nearly years of fixed-rate commissions on the stock exchanges in , Waterhouse placed a small advertisement in a newspaper offering his services at a discount from the standard rate.
He did well enough to incorporate in as Waterhouse Securities, Inc. The company reincorporated as Waterhouse Investor Services, Inc. Most of this money was used to open a self-clearing operation in so that the company no longer would have to depend upon an unaffiliated clearing house to execute its transactions. Louis, bringing the total to 13 in 11 states and the District of Columbia, serving about 80, customer accounts. It was reaching potential customers through a combination of referrals and advertisements in newspapers and financial publications.
Its three-part marketing plan consisted of a simple, level-discount commission schedule; services by personal-account officers in regional offices; and free investment and financial-publication information but not investment advice to customers with active accounts. Waterhouse added a Cleveland branch in fiscal , raised the number of its accounts to about ,, and declared its first dividend. It acquired a small brokerage operation in Kansas City, opened a branch in Houston and its second office in New York City, and increased its number of accounts to about , Its customer base expanded to about , accounts and its number of branches to 30 in 20 states and the District of Columbia.
Stockholders who did not tender their shares of TD Waterhouse Group common stock in the tender offer will receive relevant information in the mail on how to receive payment for their shares. Despite concerns around debt and budgeting, most are feeling optimistic about their financial futures. Both housing prices and the number of home sales have grown in the past year.
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