Wells Fargo is one of the largest commercial banks in the United States.

Wells Fargo is one of the largest commercial banks in the United States. Though it originally focused its operations on commercial banking, it has since expanded its operations into nonbank services, such as, mortgages, small business loans, consumer loans, real estate, brokerage services, investment banking, online financial services and insurance. In a recent annual report, Wells Fargo wrote: “Our diversity in businesses makes us much more than a bank. We’re a diversified financial services company. We’re competing in a highly fragmented and fast growing industry: Financial Services. This helps us weather downturns that inevitably affect any one segment of our industry.” It is often stated that all types of financial institutions have begun to offer services that were previously offered only by certain types. Consequently, many financial institutions are becoming financial supermarkets like Wells Fargo. Is this a good or bad trend in the finance industry and why? please only use as reference the book Financial Markets & Institutions, Anthony Saunders, 8th edition. this is the book we’re using in the class. Let me know if you have any way of accessing it if not I can send pictures of the first chapter.

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