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How Bank of America Is Winning the Wealth Management Race
Lucas and Luna dig into Bank of America's recent performance, focusing on its wealth management division as the key differentiator. With the stock up 3% in the past five days while megacap tech stumbles, they explore how BofA's reach among affluent clients, its merger with Merrill Lynch, and its digital tools create sticky revenue. Lucas breaks down the numbers: wealth management now contributes over a third of the bank's pre-tax profit, with fee-based assets under management growing 12% year-over-year. They contrast BofA's strategy with JPMorgan's and regional banks…
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