Bank of America Enhances Online Investing Service
Bank of America announced the launch of Merrill Guided Investing with an advisor, a new offering that will deliver advice and guidance to clients through a Merrill Financial Solutions Advisor (FSA) and an enhanced digital platform.
Launched in 2017, Merrill Guided Investing is a robo-advisory service that allows investors to open an account with as little as $5k. The expansion of the service to include the option to work with an advisor requires a minimum of $20k to open an account, and enables clients to work with a Merrill Financial Solutions Advisor (FSA) to identify their life priorities, chart a course toward pursuing their financial goals, and track progress toward those goals.
“This offering completes a powerful continuum of wealth management capabilities virtually unmatched in the industry. This new high-tech and high-touch offering is designed to serve clients who want both a ‘do it yourself’ experience together with help from an advisor.” – Aron Levine, head of Consumer Banking and Investments for Bank of America.
“Over the past few years, we’ve continued to enhance the client experience by investing in new digital capabilities and in our investment advisory platform. This offering gives clients and prospects the opportunity to seamlessly move from a digital offering to a full-service advisory relationship when the time is right, connecting them to everything they need.” – Andy Sieg, president of Merrill Lynch Wealth Management.
Bottom Line: Insurance and annuity products are offered through Merrill Lynch Life Agency.