Bank of America

Andy Sieg is the head of Retirement Planning and Services for Bank of America Merrill Lynch. Sieg provides his views on retirement planning reform in a recent op-ed piece in Investment Advisor. Among Sieg's points are: Support of the steps recently outlined by the Obama Administration to ancourage and support adequate financial planning for retirement. Specifically, support of incentives such as automatic enrollment for employer-sponsored savings options such as 401ks and IRAs. Support of...

A recent survey conducted by Bank of America indicates that the majority of wealthy Americans are concerned about outliving their savings in retirement. The BofA survey results reveal that 53 percent of respondents are concerned about making their savings last through retirement, and 59 percent cite healthcare costs as a major concern. A surprising 67 percent of BofA survey respondents said that they did not work with a financial advisor for retirement planning . The survey focuses on...

BofA Merrill is focused on recruiting more of its existing corporate customers to its retirement planning business. Reuters reports that the brokerage firm has recently formed three new teams of advisors what will focus on serving the retirement plans of Bank of America's current corporate and investment banking clients. The cross-referrals from the brokerage division to Bank of America have been strong thus far within the newly merged company, with the wealth management division referring 3,...