According to the most recent Merrill Edge Report, emerging technologies are drastically shaping where, how and when investors seek financial guidance. The company's total assets under management (AUM) currently exceed $1.57 trillion. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). With unique attributes that distinguish them from other asset classes, nonfinancial assets may offer you valuable financial benefits while often providing personal benefits as well. Cash equivalents -- including deposits at other banks -- come next, followed by fixed-income securities held by JPMorgan Chase. We can help enhance the value of farms and ranches held outright or in a trust. Company goals are aspirational and not guarantees or promises that all goals will be met. With about 208,000 employees, it serves approximately 67 million consumer and small business customers through over 4,000 retail branches and financial centers, and about 15,900 branded ATMs. Merrill's . and its agents.. 2 Note: Oil, gas and mineral interests are not available for direct investment through Bank of America Private Bank.. 3 As of 9/30/2021. If you're . 1 The Specialty Asset Management team includes employees of Bank of America, N.A. ET, Citigroup's Latest Rebuke Is Also Not a Huge Surprise. 77% of the Global Fortune 500 companies. Bank of America's Global Wealth and Investment Management division proved to be the largest wealth manager in terms of value of managed assets in 2020, with managed assets reaching 1.35 trillion U.S. The company serves clients through operations across the United States, its territories and more than 35 countries. September 11, 2018 at 9:00 AM Eastern. Global Banking & Global Markets works with: 95% of the U.S. Fortune 1,000 companies. Wells Fargo's $1.9 trillion balance sheet is boosted by $496 billion in assets under management. TD Bank View Total Assets Bank North America 14. Wealth Management Banking Specialists partner with our Merrill Financial Advisors to provide comprehensive financial solutions to individual wealth management clients with assets generally in the range of $1-10 million. Take JPMorgan Chase, as an example. Certain links may direct you away from Bank of America to an unaffiliated site. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. BNY . The team offers strategic evaluation and management of closely held business interests for owners and heirs.. Customized to help meet your goals, these services range from investment return management to recreational, preservation and amenity management. Bank of America, N.A., Member FDIC. If you opt out, though, you may still receive generic advertising. Merrill Edge is a streamlined financial platform that offers access to . Merrill Edge is available through Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), and consists of the Merrill Edge Advisory Center (investment guidance) and self-directed online investing. The largest share of these are loans, which account for about $900 billion. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. If JPMorgan Chase reported under the IFRS, it would be ranked 4th on the list as of 2022 . OUR PRIVATE BUSINESS PROFESSIONALS PROVIDE: 1 The Specialty Asset Management team includes employees of Bank of America, N.A. Bank of America Corporation (or BofA) is the second largest credit lender in the United States in terms of consolidated assets. The Chase Tower in Phoenix, Arizona. Strong local relationships, combined . Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. As part of Bank of America which serves 66 million consumers and small businesses, in addition to companies and institutions we have deep roots in thousands of communities. The expansion effort is part of Bank of Americas broader strategy to invest in both its physical and digital presence across the United States, entering new markets and redesigning more than a third of its existing financial centers. At Bank of America, asset management fees last year rose nearly 19% to $12.7 billion. Please read important information at the end of this program. With DeFi, there is an opportunity to provide . Citigroup's Investment Banking Business Is Struggling More Than Its Peers -- Should Investors Be Worried? Our specialty asset management team has deep experience managing real assets like timberland. To be included, firms had to offer online stock trading, ETFs, funds and individual bonds. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. Bank of America, N.A., and U.S. Trust Company of Delaware (collectively the Bank) do not serve in a fiduciary capacity with respect to all products or services.Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank. Brian T. Moynihan. UBS Group AG View Total Assets Bank Europe 16. The largest private bank worldwide with highest amount of assets under management in 2019 was UBS. The average asset size is $4 billion, largely driven up by the biggest four. As our Chief Executive Officer, Mr. Moynihan conceived of and leads our approach to Responsible Growth, based on driving a straightforward business model serving three client groups with core financial services, which has delivered record earnings and significant capital return to shareholders. Programs, rates, terms and conditions subject to change without notice. Diversifying your wealth with nonfinancial assets. 1 The Specialty Asset Management team includes employees of Bank of America, N.A. To make the world smarter, happier, and richer. Merrill Edge will also have more than 4,000 Financial Solutions Advisors across the country by year-end to meet the growing demand for investment services. 12. Managing other people's money is what banks do, but this task extends beyond just overseeing deposits and making loans. The fundamental analysis module provides a way to measure Bank Of America's intrinsic valueBank Of America's intrinsic value September 11, 2018 09:00 AM Eastern Daylight Time. and its agents. Equal Housing Lender. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. Merrill Edge is a streamlined financial platform that offers access to online and advised investing, trading, brokerage and banking services. Price as of December 9, 2022, 4:00 p.m. There is always the potential of losing money when you invest in securities. Relationship-based ads and online behavioral advertising help us do that. Neither Bank of America Private Bank nor any of its affiliates or advisors provide legal, tax or accounting advice. A team ofprofessionals directly coordinates the management of over784,000 acres3 of farm and ranch land. Earlier this year, Merrill Edge announced it would add 600 new investment centers to its footprint, bringing its nationwide total to 2,800 by 2020. U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation. Bank of America, N.A. Bank of America is one of the worlds leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. Merrill Edge is a streamlined investment service that provides access to the investment insights of Merrill Lynch and the convenience of Bank of America banking. Is Citigroup Making Progress With Its Multiyear Transformation Plan? REAL ESTATE SPECIALISTS HELP ENHANCE POTENTIAL RETURNS BY PROVIDING: A team of professionals provides forestry and land management for timberland investments held in trust or direct ownership. Bank of America has a presence in over 35 countries and territories around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. Merrill Edge provides access to research from BofA Merrill Lynch Global Research, CFRA (powered by S&P Global), Morningstar and others. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. So when you're ready to think beyond the financial markets, think real assets. Assets under . Bank of America Private Bank is a division of Bank of America, N.A. Although fintech solutions are increasingly used in the financial world, UBS discontinued their . Because these assets don't follow the financial market, they can help to diversify and reduce a portfolio's overall volatility. Our specialized industry knowledge in forestry, agriculture, petroleum engineering, and real estate helps us to effectively manage real assets, which can be an important piece of your overall strategy to grow and preserve wealth for you, your family, and future generations. Nonfinancial assets are not suitable for all investors. Past performance is no guarantee of future results. Merrill Edge Hits $200 Billion in Assets Under Management, https://www.kiplinger.com/slideshow/investing/T052-S002-best-online-brokers-2018/index.html. Bank of America: 3,169.50 8 HSBC: 2,953.64 9 BNP Paribas: 2,905.83 10 Crdit Agricole: Results based on ratings in the following categories: Total Commissions Score, Breadth of Investment Choices, Tools, Research, Ease of Use, Mobile Access, and Advisory Services. Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation ("BofA Corp."), and its agents. Learn more about specialty asset management, Annual reviews of asset performance and market conditions, Soil, water and wildlife conservation programs, Strategic guidance and due diligence for acquisitions, Comprehensive asset management and administration, Conservation and environmental management, Identification of alternative sources of income, Farm-out, unitization agreement and other contract negotiation, Evaluation of and participation in workovers and wildcat and development wells, Comprehensive oil and gas accounting . Merrill Edge Guided Investing is an online investing service that provides access to investment strategies managed by the Global Wealth Management Chief Investment Office, as opposed to an algorithm. 2. It has a large client base and over 39,000 employees. Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (BofA Corp.), and its agents. 67 million(Data as of March 2022), Head office address:100 North Tryon Street Charlotte, NC 28255 United StatesPhone number: 1 704 386 5681Website: www.bankofamerica.com, Regional Headquarters for Latin AmericaGlobal Wealth Management701 Brickell Avenue11th Floor, Miami, Florida 33131Telephone: +1 305 416 6600, Global Wealth Management2 World Financial Center225 Liberty Street, 41st FloorNew York, NY 10281, Merrill Lynch & Co.3455 Peachtree Road, N.E.The Pinnacle, Suite 200Atlanta, GA 30326, 10877 Wilshire BoulevardSuite 1900, Los Angeles, CA 90024Tel: +1 310 209 4000, Popular CenterSuite 1830, 209 Munoz Rivera AvenueSan Juan, Puerto Rico, 00918. What Would It Take for Citigroup's Stock to Double By 2026? Intesa Sanpaolo View Total Assets Bank Europe 21. FARGO BANK LIMIED has ts wn accounts n ts own nme wth a number f diffrnt major banks wher investment funds an b parked anonymously. Fast Facts:Number of branches: 4,056Number of ATMs: 15,959 Number of employees: 208,139Number of customers: approx. 4 Growth Stocks I've Aggressively Bought Before the Next Bull Market Begins, Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, which recently dropped to fourth biggest among banks, Copyright, Trademark and Patent Information. There are special risks associated with an investment in commodities, real estate or certain industry sectors, including market price fluctuations, regulatory changes, interest rate changes, credit risk, economic changes, climate change, the impact of adverse political or financial factors or lack of diversification. We strive to provide you with information about products and services you might find interesting and useful. These figures alone make JPMorgan Chase seem large, but you don't get a true sense for the bank's might until you also consider that it also oversees $2 trillion worth of assets under management, as well as $23 trillion in assets under custody. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. and its agents. Bank of America, N.A., and U.S. Trust Company of Delaware (collectively the Bank) do not serve in a fiduciary capacity with respect to all products or services.Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank. The bank had $41.1 trillion in assets under custody as of the end of 2020. Bank of America announced today that Merrill Edge has surpassed $200 billion in investment assets under management and more than 2.5 million accounts. The Motley Fool has a disclosure policy. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill Account Access. This is a major risk that can cost a bank like Bank of America or Wells Fargo billions of dollars in loan losses if proper risk management processes aren't in place. Assuming the Notes are not called prior to maturity, if the Underlying Stock declines by more than 35% from its Starting Value, at maturity your investment will be subject to 1:1 downside exposure to decreases in the value of the Underlying Stock, with up to 100% of the principal at risk; otherwise, at maturity you will receive the principal amount. To learn more about Merrill Edge and these updates, visit merrilledge.com. Earns Five-Star Rating in Both Research and User Experience from Kiplingers Best Online Brokers Survey. Total assets can be defined as the sum of all assets on a company's balance sheet. It also enables traders to predict the movement of BAC-PB Preferred Stock. At Citizens, wealth management fees climbed 18% to $240 million. Bank of America Private Bank is a division of Bank of America, N.A. The level of security for yur money s increased many times ver due t thi distribution a it cannt lead t total loss due t ne individual bank beoming insolvent . Investing involves risk, including the possible loss of principal. You should consult your legal and/or tax advisors before making any financial decisions. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. leading to US banks having fewer derivative assets than comparable non-US banks. Terms and conditions apply. Bank Of America total assets for the quarter ending September 30, 2022 were $3,072.953B, a 0.4% decline year-over-year. If you opt out, though, you may still receive generic advertising. Shares of Brookfield Asset Management Inc. Cl A BAM.A, -1.40% slid 1.40% to C$59.19 Tuesday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX . Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation. Merrill Lynch is a wealth manager owned by Bank of America. They provide complete turnkey services including identifying and purchasing real property and providing ongoing management.. The same is true for other banks, though to a less significant degree. Merrill Edge's growth represents a 54 percent increase over the past three years. Bank of America Private Bank is a division of Bank of America, N.A. Merrill Edges growth represents a 54 percent increase over the past three years. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America Merrill Lynch. If you prefer that we do not use this information, you mayopt out of online behavioral advertising. Nonfinancial assets, such as closely-held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. It is also #1 in Barrons list of the top wealth management firms. If you prefer that we do not use this information, you mayopt out of online behavioral advertising. This includes the identification of investment properties. Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (BofA Corp.), and its agents. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. China Minsheng Banking . Bank of America's $2.3 trillion balance sheet is supplemented by $1 trillion in assets under management. Equal Housing Lender. For more Bank of America news, including dividend announcements and other important information,isit theBank of America newsroomandregister for news email alerts. Invest better with The Motley Fool. Wells Fargo's $1.9 trillion balance sheet is boosted by $496 billion in assets under . With specialized investment and property management services spanning many aspects of real estate ownership,the team will work to help meet your objectives for office, retail, industrial, multifamily and single-family properties, as well as development acreage you may hold directly or in trust. Nonfinancial assets, such as closely-held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Relationship-based ads and online behavioral advertising help us do that. JPMorgan Chase, for instance, saw its fixed-income trading revenues fall 27%, while Citigroup's and Bank of America's were off 16% and 15%, respectively. Bank of America professionals directly coordinates the management of farm and ranch land with a goal of enhancing its value. Bank of America's $2.3 trillion balance sheet is supplemented by $1 trillion in assets under management. The smallest bank on the list is Emigrant Mercantile Bank, with $3.4 million in assets. Past performance is no guarantee of future results. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The Motley Fool has no position in any of the stocks mentioned. Foreclosures are real estate owned, REO or bank-owned properties and they have the potential to offer an affordable option to the right buyers. We strive to provide you with information about products and services you might find interesting and useful. We providemanagement services across all types of oil, gas and mineral interests2held in trusts or investment management accounts. *Average returns of all recommendations since inception. Programs, rates, terms and conditions subject to change without notice. Member FDIC. Assets under management may not be a term that the average investor is familiar with. Wells Fargo's $1.9 trillion balance sheet is boosted by $496 billion in assets under . The Specialty Asset Management team1 has extensive experience managing timber, farm and ranch land, oil, gas and mineral interests2, real estate and private businesses, and can work with your Bank of America Private Bank team to integrate them into your overall plan and portfolio., A team of specialists can help you realize your objectives with assets you already own, or help you acquire specific assets to take advantage of their capital growth and diversification potential whether you own these assets outright or they are held in trust. Credit and collateral subject to approval. Merrill Edge has been offering qualified clients access to commission-free online, stock and ETF trades since launching, including up to 100 free trades per month depending on the depth of the relationship. Merrill Edge was one of the first platforms to develop an online investment advisory program that combines the best of online investing with a professionally managed portfolio. You should consult your legal and/or tax advisors before making any financial decisions. Diversification does not ensure a profit or protect against loss in declining markets. MLPF&S is a registered broker-dealer, registered investment advisor, Member SIPC and wholly owned subsidiary of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC, and a wholly owned subsidiary of Bank of America Corporation (BofA Corp.). With all of this in mind, it accordingly makes sense that banks are focused on growing their assets under management. Cost basis and return based on previous market day close. Past performance does not guarantee future results.Asset allocation, rebalancing and diversification do not guarantee against risk in broadly declining markets. Learn More. GWIM includes two primary subsidiaries: Bank of America Private Bank and Merrill Wealth Management. These ads are based on your specific account relationships with us. Credit and collateral subject to approval. The app allows users to trade stocks, ETFs, mutual funds and options all from their mobile device. With offices all around the world, the broker attracts more than just American investors. Image source: Getty Images. As the Bank of America 's investment arm, Bank of America Merrill Lynch connects individuals with experienced financial advisors who help to develop personalised strategies for clients that help them to grow, preserve, transfer and structure their wealth. BofA's shares are traded on the New York Stock Exchange (NYSE), with a market capitalization of $284 billion as of October 25, 2022. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill Account Access. The recognition follows this years launch of two new, patent-pending experiences for self-directed investors, helping them make more informed investing decisions: Merrill Edge also recently redesigned its mobile app to further streamline the investment process based upon clients feedback, including a customizable dashboard and planning tools. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. They also have access to easy-to-use tools, actionable insights, step-by-step guidance and competitive pricing for online trades. Assets under management: $2,402.8bn. Another major source of revenue that universal banks look to comes from wealth management -- i.e., helping people oversee their investments. Additionally, unlike the loans that banks hold on their balance sheets, assets under management don't expose a bank to credit risk -- that is, the risk that a borrower will default. And the $13.2 million that Texas Capital reported in full-year wealth management and trust fees was up nearly 32% from 2020. . This contrasts with trading revenues, which can fluctuate widely, as was the case in the latest quarter. Since 2010, Merrill Edge has offered clients online tools and resources to help them make more informed investment decisions.. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review theBank of America Online Privacy Noticeand ourOnline Privacy FAQs. Bank of America's $2.3 trillion balance sheet is supplemented by $1 trillion in assets under management. 2Note: Oil, gas and mineral interests are not available for direct investment through Bank of America Private Bank. The following numbers reveal the sheer size of the broker-dealer: Merrill Lynch client assets. Additionally, they can help you acquire and manage your agricultural investment. Nonfinancial assets, such as closely-held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. All rights reserved.4711419|4/27/2023. and its agents. This includes all lending, saving, financing and transaction solutions as well as serving as the expert on all our Digital . A Merrill spokesperson said that in the first quarters of 2019, 2020, and 2021, the business oversaw approximately $38 billion, $47 billion, and $51 billion of such assets, respectively. Weve offered commission-free trading since 2006, and our goal is to provide accessibility to all our clients who qualify in Bank of Americas Preferred Rewards program, said Aron Levine, head of Consumer Banking and Merrill Edge. Neither Bank of America Private Bank nor any of its affiliates or advisors provide legal, tax or accounting advice. Wells Fargo's $1.9 . The existing banking system is not only inefficient but also exclusionary. Preferred Rewards recognizes client loyalty through a three-tiered program based on qualifying Bank of America, Merrill Edge, and Merrill Lynch accounts. Merrill Edge recently received five out of five stars from Kiplingers Best Online Brokers survey for its user experience and research. World bank statistics show that more than 1.7B people lack bank accounts. Accounting treatment affects the assets reported: for example, the United . Chart by author. Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. These materials are for informational purposes only. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. ; Bank Of America total assets for 2021 were $3169.495B, a 12.41% increase from 2020.; Bank Of America total assets for 2020 were $2819.627B, a 15 . Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Nonfinancial assets are not in the best interest of all investors. Merrill Edge also works with Merrill Lynch and U.S. Trust to support clients needs as they become more complex giving clients access to our full wealth management offering. Bank of America has 4,400 financial centers across the United States, including 2,200 with dedicated, on-site Merrill Edge Financial Solutions Advisors and another 770 with video conferencing capabilities. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (MLLA), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. 2021 Bank of America Corporation. 1The Specialty Asset Management team includes employees of Bank of America, N.A. The median asset size, by contrast, is $241 million. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Investing in real assets might well be the answer. Benefit from management services for all types of oil, gas and mineral interests held in trusts or investment management accounts focused on optimizing their value. The same is true for other banks, though to a less significant degree. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review theBank of America Online Privacy Noticeand ourOnline Privacy FAQs. This information may be used to deliver advertising on our Sites and offline (for example, by email) that's customized to meet specific interests you may have. Investing involves risk. Learn more at https://www.kiplinger.com/slideshow/investing/T052-S002-best-online-brokers-2018/index.html from Kiplinger's Personal Finance, October 2018 2018 The Kiplinger Washington Editors. Bank of America's <BAC.N> wealth business reported revenue climbed 3 percent to $4.6 billion in the first quarter this year from last year on higher client assets under management and fees, Bank . Farms, timberland and other nonfinancial specialty assets may offer financial benefits, while helping to diversify your overall portfolio. MLPF&S is a registered broker-dealer, registered investment adviser, MemberSIPCand a wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (BofA Corp.). According to data from CryptoMonday.de, DeFi would rank the 31st bank in America by asset under management despite the recent slump in crypto. There is always the potential of losing money when you invest in securities. Bank of America's $2.3 trillion balance sheet is supplemented by $1 trillion in assets under management. Here's the 1 Social Security Change in 2023 That's Going to Hurt the Worst. How do you take advantage of the land of opportunity that lies beyond the financial markets? $2.9 trillion. Royal Bank of Canada View Total Assets Bank North America 13. They can help you integrate these nonfinancial assets into your overall wealth management plan. Making the world smarter, happier, and richer. Terms and conditions apply. Wells Fargo's $1.9 . The company provides unmatched convenience in the United States . Specialized investment and asset management services can help meet your objectives for properties or development acreage you hold directly, in an entity, or in trust.. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. Despite its attrition, the business unit raked in record assets under management, asset management fees and new . Overall, Bank of America's wealth management businesses had US$1.57 trillion in assets under management as of the first quarter, a 7% gain from a year earlier. Used under license. Learn more about the benefits of working with Bank of America Private Bank. Bank of America is one of the 100 Best Companies to Work For according to Fortune as well as Worlds Best Bank and North America's Best Digital Bank according to Euromoney. Professional forestry solutions as well as services for timberland investments customized to help you meet your goals. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Bank of America can help you learn about home foreclosures with helpful tools, resources and mortgage products that can help make the process of buying a bank foreclosure an easier one. This information may be used to deliver advertising on our Sites and offline (for example, by email) that's customized to meet specific interests you may have. WE HELP OPTIMIZE THE VALUE OF THESE ASSETS BY PROVIDING: We provide support to owners in the management of closely held business interests (nonmarketable equity securities), including but not limited to C and S corporations, LLCs and FLPs. Should You Buy the 5 Highest-Paying Dividend Stocks in the S&P 500? These so-called off-balance-sheet assets are particularly attractive to banks, as the revenue and income from them tends to be stable. Bank Of America fundamentals help investors to digest information that contributes to Bank Of America's financial success or failures. Bank of America's wealth management unit lost 423 advisors in the second quarter. All rights reserved. Diversification does not ensure a profit or protect against a loss in declining markets. Bank of America, N.A., Member FDIC. With offices across the country, we have a distinguished history of using a boots on the ground management approach for clients who are interested in adding real assets to their portfolio or who own them today. The Specialty Asset Management team1 has extensive experience managing timber, farm and ranch land, oil, gas and mineral interests, real estate and private businesses. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members ofSIPC, and, in other jurisdictions, by locally registered entities. Data source: Bank of America. This is big business for banks, as you can see by looking at the assets under management held by the nation's four biggest banks at the end of the third quarter: Source: Third-quarter earnings releases from JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup. As at December 31, 2020, the Institutional Clients Group managed about $24 trillion in assets under custody, and Global Consumer Banking (GCB) had $205 billion in investment assets under management (AUM). The company operates through the following business lines: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. Assets under management at the consumer bank unit rose by $90 billion year-over-year to $353 billion, Bank of America Preferred Banking President Aaron Levine said on Thursday. These ads are based on your specific account relationships with us. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,400 retail financial centers, including more than 1,700 lending centers, more than 1,900 Merrill Edge investment centers and more than 1,300 business centers; approximately 16,100 ATMs; and award-winning digital banking with more than 36 million active users, including 25 million mobile users. BofAs shares are traded on the New York Stock Exchange (NYSE), with a market capitalization of $284 billion as of October 25, 2022. Past performance does not guarantee future results.Asset allocation, rebalancing and diversification do not guarantee against risk in broadly declining markets. Citigroup's branded cards generated annual purchase sales of nearly $430 billion in 2020. Special risk considerations include natural . These rankings or ratings are not indicative of any future performance or investment outcome. Investing involves risk. Bank of America's $2.3 trillion balance sheet is supplemented by $1 trillion in assets under management. 1. Assets under . The company's total assets under management (AUM) currently exceed $1.57 trillion. The team can help you realize your objectives with assets you already own or seek to acquire, and can provide a wide range of services in managing these complex assets. . Nonfinancial assets are not in the best interest of all investors. Merrill Edge was ranked five out of eight online brokers by Kiplingers Personal Finances Best Online Brokers survey, October 2018. It ended the year with $2.7 billion of assets under management . With Merrill Edge, clients can view their Merrill Edge investment and Bank of America bank accounts on one page online. Bank Of America total assets from 2010 to 2022. Bank of America has a presence in over 35 countries and territories around the world. Nonfinancial assets, such as closely-held businesses, real estate, fine art, oil, gas and mineral properties . John Maxfield owns shares of Bank of America and Wells Fargo. 2022 Bank of America Corporation. Nonfinancial assets, such as closely-held businesses, real estate, fine art, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Bank of New York Mellon generates revenue through investment services, as well as wealth and asset management. Clients can be self-directed; work with a Financial Solutions Advisor; or access Merrill Edge Guided Investing, an online advisory program that offers Global Wealth and Investment Management CIO-directed portfolio management strategies. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. 4 Social Security Changes Joe Biden Wants to Make: Is 2023 the Year They Become Reality? You should consult your legal and/or tax advisors before making any financial decisions. It currently has $2.6 trillion worth of assets on its balance sheet. Equal Housing Lender CHARLOTTE, N.C.-- ( BUSINESS WIRE )--Bank of America announced today that Merrill Edge has surpassed $200 billion in investment assets under . An approach to managing your wealth, tailored to your needs.. The clients own the assets, in other words, but the company administers them on their clients' behalf. Revenue at the combined businesses . Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp.). Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. The company's shares are traded on the New York . (For comparison, the average credit union has an average of $286 million in assets.) One in five respondents report being more likely to rely on digital than in-person advice, and 69 percent believe all financial decisions will be made with the help of technology in their lifetime, further indicating consumers desire for the best of both the digital and physical resources when it comes to financial decision-making. It refers to assets that a bank, or other type of financial-services company, oversees for clients, as opposed to itself. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. Chair and CEO, Bank of America Corporation. Lloyds Banking Group View Total Assets Bank Europe 15. Assets Under Management - AUM: Assets under management (AUM) is the total market value of assets that an investment company or financial institution manages on behalf of investors. Trust and fiduciary services, including assets managed by the Specialty Asset Management team, and other banking products are provided by wholly-owned banking affiliates of BofA Corp., including Bank of America, N.A. Bank of America's <BAC.N> wealth business reported revenue climbed 3 percent to $4.6 billion in the first quarter this year from last year on higher client assets under management and fees, Bank . Bank of America announced today that Merrill Edge has surpassed $200 billion in investment assets under management and more than 2.5 million accounts. Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value. The same is true for other banks, though to a less significant degree. 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