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BofA consumer investments surpass $500 billion as it eyes $1 trillion

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Investments from Bank of America's retail consumers have swelled to more than $500 billion in assets this year, and the company aspires to cross $1 trillion in five years.
Bank of America Corp (BofA) has seen its consumer investments exceed $500 billion, with plans to reach $1 trillion by 2025, as reported by Reuters on January 10, 2023. This growth is attributed to an increase in client assets, particularly in its Merrill and private banking sectors, which have benefited from a surge in new money from clients. The bank's strategy includes enhancing its digital platforms to attract and retain clients, alongside a focus on personalized financial advice. BofA's CEO, Brian Moynihan, highlighted the importance of this milestone in the context of the bank's broader goal to expand its wealth management services, aiming to leverage the trend of clients seeking more investment options amidst economic recovery and market volatility.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bofa-consumer-investments-surpass-500-billion-it-eyes-1-trillion-2025-01-10/ ]