Bank of America Merrill Lynch

While the bank’s second-quarter earnings disappointed, wealth management services, driven by Merrill Lynch, were a bright spot.

The program has historically been high-stakes and cold-calling friendly. Novice advisors can expect something different now.

The wirehouse is also tweaking pay related to cash solutions for clients.

Steve Alch, a U.S. Army veteran, has been with the company since 2001 and has overseen the wirehouse’s operations in Orlando.

“We’ve said no layoffs for this year and we’ll stick by that,” Chief Executive Officer Brian Moynihan said Thursday.

The company is turning to what it sees as a talent pool with proven success rates.

As millennial and Gen-Z women take more control of their own finances and those of their families, they’re becoming less tolerant of bias, research found.

The new information sheds light on how an industry leader is grappling with one of the profession’s most pressing issues.

The initiative is intended to help advisors manage increasingly large and complex teams.

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