Bank of America Shuffles Money Managers

We had one pressing question when we heard Bank of America Investments no longer has any advisers in Northwest Arkansas: Who’s taking care of the investors’ money?

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Turns out the money is being managed by advisers in the company’s Little Rock and Hot Springs offices. We also were told those advisers travel to Northwest Arkansas on a regular basis.

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That setup could change this fall, when Bank of America Investment’s merger with Merrill Lynch is expected to be complete. Merrill Lynch has an office in Rogers, but Doug Revere, who is responsible for all six of the company’s offices in Arkansas, said the accounts of Northwest Arkansas clients won’t automatically be switched to that branch. Such a shift is available at a client’s request, Revere added, but the focus is on providing the best possible service regardless of location.

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According to a spokesperson, Merrill Lynch Global Wealth Management’s 2009 annualized revenue is $44.5 million. That total does not include Bank of America Investments.