JPMorgan Chase & Co. (JPM), Wells Fargo & Co (WFC): A Very Savvy Move by Bank of America Corp (BAC)

Happier brokers will likely participate more in the big bank’s cross-selling effort, as well. Though Bank of America has been pushing this concept since 2011, Merrill advisors have been resistant. But, knowing how successful Wells Fargo & Co (NYSE:WFC) has been with the model — Wells Fargo & Co (NYSE:WFC) even has a page on its website dedicated to the strategy — B of A has persisted, even hiring two of Wells Fargo & Co (NYSE:WFC)’ cross-selling wunderkinds.

B of A can learn a thing or two from the Merrill crowd
Both sides working more closely won’t happen overnight, but it will eventually become the norm at Bank of America. Will some of Merrill Lynch’s prowess at making profits and satisfying customers rub off on the rest of the  Bank of America Corp (NYSE:BAC) crew? I think it will, as long as the rest of the company is amenable.

I think the fact that the big bank is keeping the Merrill name indicates an acknowledgement of the importance of the brand. I hope it also means B of A will be receptive to learning how that regard was earned, and apply those lessons to its own tarnished name.

The article A Very Savvy Move by Bank of America originally appeared on Fool.com and is written by Amanda Alix.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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