BofA Hires Nearly 300 Advisers

New hires in Texas and Florida have made Bank of America reach its goal of having more than 1,000 Merrill Edge Financial Solutions Advisors (FSAs) nationwide by the end of 2011.  

Nearly 65 FSAs added to Florida banks will serve customers in Boca Raton, Ft. Lauderdale and Sarasota. In addition, approximately 155 FSAs were hired in the Merrill Edge Advisory Center in Jacksonville, bringing the FSA statewide total to more than 350.

In Texas, more than 60 FSAs have been added to banking centers in 20 cities, including Austin, Dallas, Houston and San Antonio.

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The hires are part of Bank of America’s strategy to cater to Preferred customers – those with investable assets of $50,000 to $250,000. BofA says Preferred customers are one of the fastest-growing segments in the financial services industry. According to a Merrill Edge Report, priorities for Preferred customers include wanting a better retirement than their parents (85%), having access to both banking and investing solutions (73%) and maintaining the ability to track and manage their money (72%).   

BofA now has more than 1,200 FSAs working in banking centers throughout the United States or in Merrill Edge Advisory Centers.  Other 2011 hires were made in the Northwest region, Mid-Atlantic region and Southeast region.

MassMutual Launches RetireSmart TV

MassMutual Retirement Services launched RetireSmart TV, a series of online videos covering a range of financial topics, featuring Farnoosh Torabi.

The first ten videos, each approximately two minutes in length, feature Farnoosh Torabi, an independent Gen Y money coach, author and personal finance journalist, having conversations with Americans at different stages in life.  Topics include:

  • Keeping tabs on credit  
  • Staying on track to reach retirement goals  
  • Assessing their current retirement strategy  
  • Getting an early start to saving for retirement  
  • Ways to pay for college  
  • Envisioning their retirement future and important lifestyle considerations  
  • Getting help with retirement planning  
  • Affording health care  
  • Reaching their retirement goal  
  • Understanding mutual funds 

“We look forward to integrating RetireSmart TV into our on-site educational meetings to show that our participants, along with most Americans, are all in the same boat when it comes to understanding these complex topics, and that MassMutual is here to help them prepare for a strong financial future,” says Hugh O’Toole, senior vice president of sales and client management for MassMutual’s Retirement Services Division.  

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The RetireSmart TV videos can be accessed by visiting www.retiresmart.com, www.facebook.com/retiresmart, www.massmutual.com/financetips or the MassMutual YouTube channel at www.youtube.com/user/MassMutual.  

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