Bank of America to expand financial adviser staff
Bank of America to nearly double ranks of financial solutions advisers to more than 1,000
On Tuesday June 21, 2011, 10:25 am EDT
CHARLOTTE, N.C. (AP) -- Bank of America Corp. said on Tuesday that it will nearly double the size of its staff of financial advisers serving its "preferred customers," those with investable assets of $50,000 to $250,000.
By the end of this year, the bank expects its ranks of "Merrill Edge Financial Solutions Advisors" will grow to more than 1,000.
Bank of America has more than 8 million preferred customers.
That group has "a complex set of needs and concerns that go beyond what the standard retail bank can offer, but they don't typically require a full-service financial adviser or a private banker," said Dean Athanasia, preferred and small-business banking executive at Bank of America.
The new advisers will be based in selected banking centers nationwide, including New York, San Francisco, Los Angeles, Dallas, Charlotte and Washington, D.C. Some will serve clients by telephone through an advisory center.