Bank of America has hired more than 80 financial advisors for its Merrill Edge unit in the Northwest region which includes San Francisco, San Jose, Sacramento and Las Vegas.
Company officials said the new hires brings the region’s headcount to almost 120 advisors serving so-called “preferred” customers with investable assets of between $50,000 and $250,000. BofA said it’s still on track to almost double its advisor ranks to more than 1,000 advisors by year’s end.
“ These FSAs will provide financial solutions and guidance to help customers manage their banking and investment needs and stay in better control of their finances,” it said in a statement.
BofA officials said it already serves more than 8 million preferred customers.
“Preferred customers have a unique set of financial needs that often go beyond the typical retail offering,” said Linda Shelby, West Coast Division executive, in a statement. “By placing more Merrill Edge FSAs in banking centers throughout the country, we are better equipped to serve our preferred customers. They have the benefit of personal attention from a specialist who can recommend solutions tailored to meet their specific financial needs.”