But client balances at Bank of America’s global wealth and investment management unit, which also includes Private Bank, rose 16% compared to the year prior, boosted by $88 billion in net inflows in AUM.
January 15, 2020
Retail brokerage and advisory assets posted double-digit growth in the quarter, mainly due to higher market valuations.
The firm’s assets under management grew to $1.3 trillion, a $246 billion increase from the year prior.
Citing an employee agreement, the wirehouse wants a discrimination charge addressed in arbitration instead of in court.
Paul Meyers and Brady Brunsvold managed approximately $140 million.
Employees at the new office will initially serve boutique Latin American wealth managers.
The regulator has clarified what it deems a recommendation and the process for making disclosures, among other issues.
The company has appointed Armand Alaverdian to regional director of advisor acquisition for the Western region.
Dean Harrison Grant faces 23 felony charges and decades in prison.
The combined entity oversees $26 billion.