Bank of America Wealth Management Sees Growth in Fee-Based Assets

Bank of America’s wealth management division has reported a significant increase in new fee-based assets, reflecting strong demand for advisory services and strategic portfolio management. The growth highlights the company’s continued success in attracting clients seeking comprehensive wealth management solutions.

In its latest earnings report, Bank of America revealed that its wealth management unit added $18 billion in net new fee-based assets during the quarter. This uptick underscores the appeal of its advisory offerings, which cater to high-net-worth individuals and families looking for tailored investment strategies and financial planning services.

The boost in fee-based assets is part of a broader trend in the wealth management industry, as clients increasingly shift away from transactional models to fee-based advisory relationships. This approach aligns with growing client demand for personalized, long-term financial guidance and transparent pricing structures.

Bank of America’s wealth management business, which operates under Merrill and Bank of America Private Bank, continues to leverage its integrated approach to deliver value to clients. By combining banking and investment services, the company has positioned itself to capture a larger share of the growing wealth management market.

Executives attribute the growth in assets to a mix of market performance, new client acquisitions, and a focus on expanding digital tools that enhance the client experience. With ongoing investments in technology and a robust team of financial advisors, Bank of America aims to build on this momentum in the coming quarters.

As fee-based advisory models gain traction, Bank of America’s latest results underscore the company’s strong position in the competitive wealth management landscape, signaling steady growth as clients prioritize holistic financial solutions.