Bank of America
Bank of America Eyes Growth in Employee Benefits as Morgan Stanley Ramps Up
Bank of America Corp. is seeking to become a one-stop shop for employee benefits.
Merrill Elevates Market Manager to Sieg’s Inner Circle
Craig Young, who has been running branch complexes in California and New York, takes new “national business development” role promoting book-growth incentive programs.
Schwab to Pay for New Accounts, Customize Asset Management Products
To counter competitors, Schwab will offer premium rates on cash and develop “direct” indexing products and special programs for high-net-worth clients, CEO says.
Fieldpoint Hires $1.2-Billion-Asset BofA Private Bank Team in Florida
Wealth Management boutique short-stopped a plan by a team of former U.S. Trust bankers to form their own RIA, convincing them to join its ranks on Tuesday.
Merrill Brokers Added More than 40,000 New Accounts in 2019
Fourth-quarter net income at Bank of America’s global wealth and investment management division fell, but client assets rose to a record $4 billion.
Merrill Survives Former Wealth Exec Sepe’s Racketeering Claims
Brian Sepe, a former divisional and Latin American wealth head at Merrill, argued that firm’s mortgage fraud during the financial crisis eviscerated the worth of his company stock and options.
Merrill’s Sieg: $1-Million and $5-Mln-Plus Advisors at Record Levels
Wealth Management President Andy Sieg says experienced advisors averaged 5.5 net new households in 2019, helping to produce record profit.
Merrill/BofA to Issue New Phones to Advisors, Other Employees
Brokers who now conduct customer business through a Blackberry app on their personal phone will have to carry a second device.
Rockefeller Hires 45-Year Merrill Broker in Dallas, NY/Cleveland Team from Morgan Stanley
Teams that were jointly producing about $8 million of fees and commissions on about $950 million of client assets jump to the wealth boutique run by former wirehouse execs.
Merrill Ousts Three Southwest Brokers over Cold-Calling
A producing manager in Arizona and a Forbes-ranked team in Scottsdale and Dallas that won internal recognition for their account growth metrics left over solicitation practices “inconsistent with Firm standards.”
Need to Move $1.6 Billion? Bank of America Has an App for That
Bank of America’s corporate clients want to make payments the same way they handle their personal money — by mobile phone.
