Jim Cramer: If You Want a Broker, Buy Bank of America

If you are looking for a brokerage stock to buy, then Bank of America (BAC) - Get Report is a smart choice, said TheStreet's Jim Cramer. He said there is no need to own shares of Cowen (COWN) - Get Report when you can own the company behind Merrill Lynch.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.