BofA Weighs Allowing Commissions on Merrill Lynch Retirement Accounts
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Bank of America Corp., faced with a lighter regulatory climate in the Trump era, is considering whether to reverse a decision it made two years ago to remove broker commissions from Merrill Lynch retirement accounts.
The firm’s wealth-management unit may allow retirement-account customers flexibility in fee structures after a review is completed in about 60 days, bank spokesman Jerry Dubrowski said. Merrill Lynch’s top executive, Andy Sieg, made the announcement Friday to the firm’s 14,000 financial advisers.