Wealth Management Consolidation Continues Apace

The US's wealth management sector has seen a high level of consolidation since the start of the financial crisis with Bank of America (BofA) acquiring Merrill Lynch and Wells Fargo buying Wachovia to name but a few. Most recently, CFW reported on the acquisition of branches of UBS's Wealth Management Americas division by Stifel Financial, and in keeping with this trend, Evercore Partners agreed on April 29 to acquire a unit of BofA's wealth management division.

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