1. Bank of America Corp., the second- biggest U.S. bank, will retain the U.S. Trust name for its private wealth-management business when it buys the business from Charles Schwab Corp for $3.3 billion.
2. It will add about $100 billion in assets under management, bringing the total to about $270 billion. 3. The new unit will serve clients with more than $3 million in assets to invest.
You get more revenue from:
1. Using a business name that has ‘a name’
2. More active assets
3. Wealthier customers
[Click here for full story at: BLOOMBERG.COM]
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