Wachovia Corp. and Prudential Financial have completed the merger of their brokerage units into Wachovia Securities. The resulting organization is owned 62% by Wachovia and 38% by Prudential.

Wachovia Securities is the third-largest full service retail brokerage by assets, with $532.1 billion at the end of March. The new company has 3,400 retail outlets, including 2,700 Wachovia bank branches.

Prudential will adopt the Wachovia brand by the end of the year but will operate as the "Prudential Securities Division of Wachovia Securities" until then.

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