After arming certain financial advisors with new designations aimed at winning more 401(k) consulting business this year, Bank of America Merrill Lynch says that that bet is paying off.
The firm has reached $3 billion in new assets from those efforts this year, and plans to bring that total to $3.5 billion by the middle of 2013. At the same time, 30 financial advisors have successfully completed the new Defined Contribution Investment Consulting designation, with another 20 expected to bring the total to 50 in the next few months.
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