Video: Sallie Krawcheck sounds off on RIA model
Sallie Krawcheck, president of Bank of America’s Global Wealth and Investment Management division, during an appearance on Squawk…
Sallie Krawcheck, president of Bank of America’s Global Wealth and Investment Management division, during an appearance on Squawk Box yesterday touted the advantages of the big brokerage industry — despite reports that scores of advisers have been leaving wirehouses and going independent.
The attrition rate at Merrill Lynch & Co. Inc. in the fourth quarter of 2009 reached a record low, Ms. Krawcheck said, after slowing from a higher pace earlier in the year.
Below is her appearance on CNBC. To hear her remarks specifically about the RIA model, head straight to the eight minute mark of the video. Ms. Krawcheck suggested that the attrition rate is slower now because of the stability of the advising relationships and the financial assets behind Bank of America Corp.
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