Bank of America's (NYSE: BAC ) first-quarter results were pretty ugly. However, the bank's wealth management business, primarily the network of advisors the bank acquired via the Merrill Lynch purchase, seems to thriving. While many members of the "Thundering Herd" reportedly expressed displeasure over joining the Bank of America family initially, the unit appears to be well positioned to produce solid earnings and cross-selling opportunities.
In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer give their opinions on what the unit means to the bank and why investors should be pleased with its performance.
Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.