Yahoo Finance·2026-01-14 19:23Core Insights - Bank of America and Wells Fargo reported revenue growth in their wealth management divisions, driven by increases in net income and fees [1] Group 1: Bank of America Merrill Wealth - Bank of America Merrill Wealth's results indicate a successful strategy to attract affluent clients, with 80% of net new client relationships in 2025 bringing in over $500,000, up from 72% the previous year [2][7] - Merrill Wealth and Private Bank divisions generated fourth quarter revenue of $6.6 billion, with full-year revenue for Merrill in 2025 reaching $20.7 billion, an increase of over $3 billion from two years prior [4] - In the fourth quarter, Merrill's revenue was $5.5 billion, a 10% year-over-year increase, attributed to higher asset management fees and loan net interest income [5] Group 2: Wells Fargo - Wells Fargo reported a 4% year-over-year revenue increase to $21.64 billion, with net income rising 5.5% to $5.36 billion, excluding one-time severance expenses [3] Group 3: Client Relationships and Market Position - Merrill and the Private Bank reported approximately 21,300 net new relationships in 2025, marking the eighth consecutive year of over 20,000 net new relationships, although a decrease from previous years [6] - The firm holds approximately a 16% market share in the ultra-high-net-worth client segment, with growth driven by a 14% increase in households with assets of $10 million or more [7]