BofA (BAC) Turns Corner in Recruiting, Draws Top U.S. Female Advisor
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Bank of America (NYSE: BAC) is doing the opposite of what happened following the financial mess of 2008 into 2009: recruiting.
Not just recruiting, but recruiting top-quality advisors. According to Bloomberg, BofA recently landed an advisor who oversees about $2.5 billion in assets.
The advisor, Rebecca Rothstein, is based out of Beverly Hills, CA. She and her team were said to join BofA's Merrill Lynch unit on October 19th. Barron's recently ranked Rothstein as the number two female advisor in the U.S.
BofA took over Merrill Lynch shortly after the financial crisis a few years back, with the biggest concern at the time poaching of advisors by smaller outfits. Last year, BofA made an effort to curb advisors defecting via new employment terms.
Shares of BofA are up 0.7 percent on the session Monday, just off of session highs.
Not just recruiting, but recruiting top-quality advisors. According to Bloomberg, BofA recently landed an advisor who oversees about $2.5 billion in assets.
The advisor, Rebecca Rothstein, is based out of Beverly Hills, CA. She and her team were said to join BofA's Merrill Lynch unit on October 19th. Barron's recently ranked Rothstein as the number two female advisor in the U.S.
BofA took over Merrill Lynch shortly after the financial crisis a few years back, with the biggest concern at the time poaching of advisors by smaller outfits. Last year, BofA made an effort to curb advisors defecting via new employment terms.
Shares of BofA are up 0.7 percent on the session Monday, just off of session highs.
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