Bank of America Eases Sales Targets for Merrill Advisers During Pandemic

Bank of America Corp. has lowered some sales targets imposed on Merrill Lynch financial advisers who have struggled to grow their businesses, acknowledging the continuing impact the coronavirus pandemic has had on its wealth-management unit. The bank said it would pare back some of the thresholds affecting advisers’ pay that were instituted in 2018 to cajole Merrill into growing more aggressively, according to a memo sent to employees Monday afternoon and reviewed by The Wall Street Journal….

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