Separate BofA Retention Package Targets Top Half of BofA force

Published Monday, October 27, 2008

Bank of America and Merrill Lynch released retention bonus plans for their financial advisors on Friday and both send a consistent message to financial advisors: If you’re a top producer, we want you to stay. (Click here for the Merrill retention package.) If you’re not, see ya. If Merrill Lynch’s plan focused on its top FAs, Bank of America’s package, for its own advisors, does so even more. Only 50 percent, or roughly 1,000 of the 2,000 Banc of America Investment Services FAs, will see a retention bonus, according to firm spokesman Jerry Dubrowsk. “A lot ...

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