Bank of America Grows Its Wealth Business

Bank of America remains positive about their business model due to the increased growth in its wealth management division. According to BofA Remains Confident in Wealth Businesses As Assets Sink, Matt Ackermann states,

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Financial Planners Still in Demand

With the constant market volatility in today’s economy, investors rely on their financial planners more than ever. They still need plenty of advisement on where it is safe to invest their money and how to protect the assets they have left.

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Super OSJ Firms Benefit Breakaway Advisors

One of the primary focuses financial advisors have is taking care of their existing clients while developing new clients and growing their business. The time spent focusing on compliance and paperwork is not a beneficial use of their time.

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Fifth Third Securities Increases its Sales Team

Fifth Third Securities has been aggressively recruiting candidates for its investment sales team. They just hired a sales person to run the eastern territory and a sales manager for Tennessee and Georgia.

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Growth Opportunities for Global Wealth Management Industry

…there is $10 trillion in high-net worth bankable assets that haven’t been tapped.

There has been a significant decrease in assets under management in the global wealth management industry since 2008. High-net worth clients have lost confidence with their bank and fled to other firms.

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