Industry

Independent advisors may enjoy freedom of choice when it comes to all things digital, but giant institutions have a leg up with integration.

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.

The insurer-owned IBD identifies leaders in target markets as it offers independence “with a hug,” according to its head of recruiting.

The new additions include an advisor with five decades of experience in the business, plus his two sons.

“We started with 40 people just marching, and it turned into 15,000," an advisor says.

From fruit baskets to operations, financial advisors can tap into a range of ideas in a time of remote work.

While small deals are likely, CEO James Gorman said he’d be reluctant to take on a large-scale acquisition

Hailing from Merrill Lynch, Edward Jones and Waddell & Reed, the advisors join as both employees and independents

The newly independent advisor oversaw $92 million in client assets.

The 18-month project is part of the $3 billion that Bank of America allocates annually to new technology initiatives.