By taking more of a hands off approach with its Merrill Lynch financial advisors, Bank of America Corp. saw “historically” low broker attrition in the fourth quarter and plans to add advisors this year, said Sallie Krawcheck, the president of Bank of America Global Wealth.
“Going into the downturn, I’d have expected advisors would’ve left the business altogether or gone to independent firms, and we’ve seen some of that, but not as much as expected,” she said during a conference call Thursday.
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