(Bloomberg) — Bank of America Corp., which has said it will stop offering commission-based retirement accounts as it prepares for new regulations, also plans to more clearly disclose fees that clients pay to the firm's 14,000 financial advisers.
The Merrill Lynch business will break out fees for asset management services and products including mutual funds, alternative investments and commodities when it mails January account statements later this week. Such fees previously were embedded in statements in ways that customers found hard to understand.
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