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Merrill Lynch's "Thundering Herd" Returns to Glory

By David Hanson and Matt Koppenheffer - Apr 17, 2013 at 3:01PM

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Despite sluggish growth in its other segments, Bank of America's wealth management business seems to be thriving.

Bank of America's (BAC 0.95%) 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. 

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