John Thain, chief executive officer of Merrill Lynch, said the reaction of his firm’s “thundering herd” of more than 16,000 financial advisers to the Bank of America sale has been almost 100% positive.

Speaking at a press conference at Bank of America's headquarters in New York City Monday morning, Thain said the deal provided Merrill brokers with access to Bank of America’s customer base, particularly the “sweet spot” of investors with net worths of between $500,000 and $5 million.

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