Bank of America
Bank of America Corp. is seeking to become a one-stop shop for employee benefits.
Craig Young, who has been running branch complexes in California and New York, takes new “national business development” role promoting book-growth incentive programs.
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.
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.
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.
Wealth Management President Andy Sieg says experienced advisors averaged 5.5 net new households in 2019, helping to produce record profit.
Brokers who now conduct customer business through a Blackberry app on their personal phone will have to carry a second device.
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.
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.”
Bank of America’s corporate clients want to make payments the same way they handle their personal money — by mobile phone.