Bank of America Continues to Rebrand Merrill Lynch
From the Desk of Jim Eccleston at Eccleston Law LLC:
Bank of America, which bought the wirehouse, Merrill Lynch during the financial crisis of 2008, has announced that it has plans to rebrand its wealth management operations by dropping “Lynch” out of its name.
More specifically, “Merrill” will serve as the name for the company’s wealth management unit, encompassing its self-directed offering (Merrill Edge), robo advisor (Merrill Guided Investing), wirehouse (Merrill Lynch Wealth Management), and for its ultrawealthy clients (Merrill Private Wealth Management).
However, despite the official name change for its wealth management unit, Bank of America stated that it has no plans to change the firm’s iconic bull logo.
In addition to the name change, Bank of America recently has made substantive changes to its Merrill’s wealth management unit, which included compensation plan tweaks, cross-selling initiatives, a renewed emphasis on goals-based planning, and technology updates.
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Related Attorneys: James J. Eccleston
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