Wednesday, 19 April 2017

Billions Burst Into Merrill’s Fee Accounts As Obama-Era Rule Looms

Billions of dollars in new fee-paying assets flowed into Bank of America Corp.’s coffers during Q1, a record high that comes as its Merrill Lynch unit continues its efforts to comply with now-delayed retirement rules. Nearly $30 billion of new fee-paying assets flowed into the Charlotte, N.C., bank’s global wealth unit in the January-March period,

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