was adapted to "We measure success one investor at a time" and was used by Dean Witter and later Morgan Stanley.

Willard & Co.[7] With the acquisition, Reynolds tripled its sales and shifted its emphasis toward underwritings.

[8] In 1958, Reynolds passed its leadership to the next generation with Thomas F. Staley departing and naming Robert M. Gardiner to head the firm.

Meanwhile, the firm was continuing its expansion, acquiring its first international offices in Lugano and Lausanne, Switzerland.

[10] At the time of its merger with Dean Witter & Co. in 1978, Reynolds Securities had over 3,100 employees in 72 offices producing gross revenues of nearly $120 million.