Bank of America wealth group sees head count drop as revenues climb
Adviser ranks are falling, but the bank reports 7,800 net new client relationships and a growing thirst for alternative investments.
Bank of America’s global wealth management group reported record revenue of $5.5 billion during the first quarter, reflecting a 10% increase over the same period last year.
The quarterly net income was more than $1.1 billion, average deposits were up 18% to $385 billion, and average loans and l
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