Merrill Lynch brokerage boss John Thiel is firmly committed to cross-selling products from parent Bank of America to investors, something he says clients want and that will help advisers make more money.
Thiel's views come after his predecessor Lyle LaMothe told Reuters he quit last year because he had concerns with the bank's approach to wealth management, where selling an array of products and services distracted advisers from their central role of managing client finances and investments.
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