Kristin Broughton

Andy Sieg, head of Merrill Lynch Wealth Management, will join the management team of the company, reporting directly to CEO Brian Moynihan.

Only 15% of bank customers at Bank of America use its online investment platform, but the company expects that figure to increase as it opens branches in nine major cities.

Amazon's branded checking account plans pose no immediate threat to wealth management. But advisors should pay attention to the people that the e-commerce giant wants to serve.

Big banks north of the border are rapidly expanding their U.S. wealth divisions, competing with their stateside peers for higher-income clientele.

Chatter about bank-nonbank combinations pops up frequently, as it did in a low-profile way this week, but there are reasons you should be skeptical even in these anything-could-happen times.

The $143 billion-asset company has agreed to buy the Retirement Corporation of America, an advisory firm based in Fifth Third’s headquarters city that focuses on the needs of retirees.

Industry experts said the proposal shows that New York, which oversees a number of major Wall Street players, is positioning itself to take a more aggressive approach than its federal counterparts.

The new CEO said the aggressive sales goals – which were ditched earlier this month – served the interests of neither clients nor branch employees.

The No. 3 U.S. bank by assets has made a change at the top after a snowballing scandal involving the creation of fraudulent accounts.

U.S. Bank hired a professional psychologist to help ultrahigh-net-worth families work through financial issues.