BofA sees a 28% increase in new retirement-plan assets

02/19/2013 | Bloomberg

Bank of America is winning more 401(k) business, largely because of successful cross-selling to clients of its commercial bank. BofA saw new retirement-plan assets rise 28% to $24.3 billion last year. Banks are aggressively cross-selling retirement services, competing against 401(k) behemoths such as Vanguard Group and Fidelity Investments, as they seek new sources of revenue.

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