Merrill Lynch Boosts Client Minimum, Earns Expert’s Kudos
The move to raise the minimum household asset level to $250,000 comes as the Bank of America unit seeks further ways of increasing profits for its high-net-worth and mass-affluent operations.
Raymond James Adds 5 Advisors From Wells, UBS
Five reps join Raymond James as employee advisors in the Southeast with about $4 million in yearly fees and commissions and close to $700 million in combined assets.
BofA to Add 160 Merrill Edge Advisors in Southwest
Bank of America said Monday that it planned to add 160 Merrill Edge Financial Solutions Advisors in the Southwest by the end of March 2012 and named several managers to help it grow the business in this market.
Most Earnings Top Estimates on Mixed Advisor-Headcount News
Bank of America reported net income of $6.2 billion, or $0.56 per share, for the third quarter vs. a net loss of $7.3 billion, or $0.77 per share, last year — topping analysts’ estimates by a wide margin. Revenue, net of interest expense (and calculated on a fully taxable-equivalent basis)...
Q3 Earnings: BofA Tops Estimates as Merrill Boosts Advisor Count
Net inflows of client assets were nearly $2 billion in the third quarter for the wealth-management unit vs. outflows of about $2.5 billion last year.
BofA Adds 38 Advisors to Merrill Edge
Bank of America has hired 38 Merrill Edge advisors serving mass-affluent clients in and around Washington, D.C., Baltimore and Philadelphia. The hiring is part of BofA-Merrill’s plan to nearly double the number of Financial Solutions Advisors to 1,000-plus by year-end.