Krawcheck says BofA will invest in advisers

10/12/2009 | InvestmentNews (free registration)

The president of Bank of America's wealth-management unit, Sallie Krawcheck, said in an interview published Friday that she was retaining good advisers by investing in the business. "We have already brought the capabilities of Bank of America to Merrill Lynch with very good success," Ms. Krawcheck said. "And we've made investments in stand-alone technology, performance reporting and a new Web site, which clients tell us they highly value. When financial advisers across the industry catch their breath, I think they're going to see that Merrill clients are the ones who are better off."

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