It appears that Merrill Lynch, now ensconced in Bank of America, has realized the importance of retirement planning to its clients and potential clients, and the complexities that go along with retirement planning, and is moving to better position its army of financial advisors to compete in the space.
Speaking to reporters on January 14, Sallie Krawcheck, president of Bank of America Global Wealth and Investment Management, lauded the broker force at Merrill, noting the long average tenure of its brokers and the high investments the firm makes in training and technology. On retirement specifically, she noted that 20% of the Merrill broker force already had accreditation in retirement–that is, have the CRPC designation, or Chartered Retirement Planning Counselor, a designation awarded by the College for Financial Planning.