More wealth managers exit Merrill [Seeking Alpha]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Seeking Alpha
More wealth managers exit MerrillFollowing a recent industry trend,a team of wealth managers with $1B in client money left Bank of America's (NYSE:BAC) Merrill Lynch to set up an independent office.Kelly Bouchillon, Melissa Bouchillon, Emerson Ham and Edward Ambrose left Merrill to launch Sound View Wealth Advisors based in Savannah.Changes to the industry are being driven by the need to offer a wider array of products to investors, which is not possible by working for a big brokerage like Merrill Lynch. Being tied to Wall Street names comes with the mandate of cross-selling internal financial products like credit cards, loans and internal investment products.Research firm Cerulli Associates estimates that by 2020 independent advisers will control more assets than Merrill Lynch, Morgan Stanley , UBS, and other major brokerages combined.Click to subscribe to real-time analytics on BACNow read:Bank Of America's Critical Metrics In 2018 »
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BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 5/7/24 - Form 424B2
- 5/7/24 - Form 424B2
- 5/6/24 - Form FWP
- BAC's page on the SEC website