Over 100 financial advisors are set to be added to Bank of America's US Trust in an effort to grow wealth-management revenue while placing little capital at risk. The Trust will also hire additional trust officers and portfolio managers to support advisors through the banks internal training program and new hires. Bank of America generated $$2.5 trillion of wealth and investment management revenue in the first quarter of 2016 with competitors including Wells Fargo, UBS and Morgan Stanley.
Over 100 financial advisors are set to be added to Bank of America's US Trust in an effort to grow wealth-management revenue while placing little capital at risk. The Trust will also hire additional trust officers and portfolio managers to support advisors through the banks internal training program and new hires. Bank of America generated $4.4bn of wealth and investment management revenue in the first quarter of 2016 with competitors including Wells Fargo, UBS and Morgan Stanley.