Bank of America 1998 Annual Report Download - page 20

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through our comprehensive wealth
management business. No matter what
kind of investment expertise a customer
needs, we can provide it. We have been
preparing for this market change for
a number of years, building a strong
mutual fund and brokerage operation
to earn the right to serve our customer’s
investment needs.
Customers of all sizes invest in our
mutual funds, making our fund complex
one of the largest bank-advised fund
families, with about $60 billion in assets.
Among all mutual fund complexes ours
ranks among the top 25. Our retail
brokerage business provides customers
with easy access to a full range of
investment expertise, whether they need
financial advice and planning or conve-
nient execution of an investment trade.
Our private bank serves clients
through more than 100 offices in the
U.S. and a number of other countries.
Our success comes from offering
clients solutions they do not get any-
where else. We take time to understand
each client’s entire financial picture and
respond with new and creative ideas on
a regular basis. It’s one of the reasons
our average client has been with us
more than a decade. Some families have
been with us for generations.
1998 Bank of America Summary Annual Report
The U.S. Postal Service has been
working to consolidate its banking
relationships nationwide for
deposit collections and other cash
management services. While both
Bank of America and NationsBank
had significant relationships with
the Postal Service before the
merger, our company’s broader
ability to handle a significant
portion of the Postal Service’s
business nationwide makes us
an even more efficient partner.
We coordinate all aspects of our
clients’ finances. Products and services
are focused on building wealth through
customized investment management,
transferring wealth through estate plan-
ning and personal trust services, and
leveraging wealth by providing credit
for asset purchases and liquidity needs.
Clients receive more than just
standardized or personalized solutions.
Many solutions are fully customized.
We routinely save clients and their
families millions of dollars by develop-
ing strategies that combine new ideas
about minimizing taxes with investing,
borrowing and trust services. Our
cutting-edge thinking has surprised
and delighted clients, their law firms
and their accountants.
Our wealth management business
serves more than just individuals.
Through four wholly owned investment
advisers we provide creative investment
solutions for corporations, public
entities, pension plans, endowments and
foundations. Our clients’ investment
needs are met through a wide selection
of equity, fixed income and cash
management services.