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How Bank of America is Expanding Its Wealth Division

Robert Karr
How Bank of America is Expanding Its Wealth Division

Asset managers and bankers with asset management segments (XLF) had a great ride in 2017, helped by broader markets. Asset managers are expected to continue to see strong flow in the second quarter in the United States, mainly due to marginal wage growth and lower corporate tax and unemployment. Bank of America’s (BAC) wealth management segment manages $2.7 trillion across products and regions.