BofA consumer investments surpass $500 billion as it eyes $1 trillion Investments from Bank of America's retail consumers have swelled to more than $500 billion in assets this year, and the company aspires to cross $1 trillion in five years. "If you look at our results, we have doubled every five years, so I'd like to think that we could do that again and achieve this within a five-year time period," Aron Levine, BofA's president of preferred banking, told Reuters. The second largest U.S. lender launched its consumer investment business in 2010.
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Bank of America (BofA) has reported that its retail consumer investments have exceeded $500 billion this year, with a goal to reach $1 trillion in five years. BofA's president of preferred banking, Aron Levine, noted the company's history of doubling investments every five years. The consumer investment business, launched in 2010, allows clients to manage their investments with online tools and advisor support. BofA plans to open 165 branches by 2026, and nearly 33% of its investment accounts are held by Gen Z and millennials.
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