Bank of America had net income of $340 million, or $0.00 per share, in the third quarter, compared to $6.2 billion, or $0.56 per share, in the year-ago quarter.
What’s Driving Industry Shifts?
The number of wirehouse advisors and their asset base continues to drop, says a report released by Cerulli Associates on Monday.
10 Best Online Brokerage Firms Ranked by Retail Investors: J.D. Power
Overall satisfaction of Web-based investors is up, though their opinion of firms' fees and trading charges has declined in the past 12 months.
Mass Affluent Plagued With Financial Worries: Report
Even with $9 trillion in assets, the mass affluent aren’t happy campers.
Fiduciary Standard Can Serve Middle Class—Look at Accountants and Lawyers
Fiduciary expert Michael Finke insists different compensation schemes could motivate financial professionals to serve clients with fewer assets.
Merrill Edge Rolls Out Portfolio Series
BofA's new mass-affluent products have a 1% yearly fee and a $20,000 minimum balance.
Wirehouses Post Mixed Results for Q4’11
Bank of America said in mid-January that it had net income of $2 billion, or $0.15 per share, for the fourth quarter of 2011 vs. a net loss of $1.2 billion, or $0.16 per share in the same year-ago period, meeting analysts’ expectations.
BofA Back in Black as Merrill Hires More FAs: Q4 Earnings
Bank of America said Thursday that it had net income of $2 billion for the fourth quarter of 2011 vs. a net loss of $1.2 billion in the same year-ago period, meeting analysts’ expectations.
BofA Lowers Fees, Expands Online Platform for Merrill Edge
These changes aim to boost business with Bank of America-Merrill's mass-affluent investors who do most of their trading online.
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.