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Model portfolios, referrals from Merrill Edge and tapping into "overlap" with Bank of America's commercial unit were driving advisor efficiencies and bringing in record numbers of new clients.
Allen Parker, the general counsel who took temporary control of the fourth-largest U.S. bank this year, is signaling willingness and even interest in staying on.
Leon Vaccarelli told clients he would invest their money in interest-earning investments; instead he used it to make tuition and mortgage payments and pay off other investors.