Even salaries, which are typically seen as private, were up for conversation among those in the cohort, a survey found.

Selective bets on undervalued stocks are paying off as unloved value and cyclical strategies fall into favor.

Virtual training and orientation, including any licensing needed, will begin in July.

Advisors can use Digital Wealth Overview to send an automatically-produced animation that gives a comprehensive look at financial accounts.

For just $1,000, clients can sign up for the firm’s purely digital automated advice service.

“I respect every competitor, I don’t fear any competitor,” CEO Brian Moynihan said.

The margin requirements apply to Merrill Lynch wealth management clients and individual traders using the Merrill Edge platform.

Client acquisition was down compared to 2019, but still higher than in years past.

Policy changes could deprive some politicians of significant campaign funds.

While Trump’s administration could slow down transition efforts by disputing election results, big U.S. companies are moving on.

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

While some big Wall Street firms are seeking to get staff back to the office, there are already signs of how challenging that could be.

Of the 330,000 new accounts opened this year, about a third were for clients 35 or younger.

The hires might be short-lived as job-cut moratoria end in the third and fourth quarters.

The pandemic and work-from-home arrangements are probably spurring larger budgets.

The company allocated $5.1 billion for loan losses in the second quarter, the most since 2010.

"We have to redouble our efforts to make progress," Brian Moynihan said a day after the bank pledged $1 billion over four years to try to address racial and economic inequality.

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.

AUM is down 7% for the wirehouse, which now has 20,000 financial advisors and associated staff working remotely.

BofA joins rival banks in setting aside billions for loan losses