The bank said the platform offers resources, financial insights, access to banking and investing accounts through its network of ATMs, banking centers, and online, mobile and text banking services.
The Merrill Edge platform integrates Banc of America Investment Services self-directed accounts, Merrill Lynch Direct and Merrill Lynch Financial Advisory Center investment accounts onto one product and opens it to new clients.
Bank of America Consumer and Small Business Banking president Joe Price said by bringing together the banking strength of Bank of America with the investment insights of Merrill Lynch, Merrill Edge can now offer customers a way to view and access their banking and investing accounts online – any way they want – with access to a full array of solutions.
In addition, Merrill Edge clients can choose a self-directed investing account or an account through the Merrill Edge Advisory Center for financial guidance.
According to the bank, Merrill Edge offers one comprehensive view of accounts online (including 401(k) and brokerage from Merrill Lynch, and checking, savings, and credit cards from Bank of America) and the ability to move money between accounts in real-time.
Insights on BofA Merrill Lynch Global Research, third-party commentary, and market news and financial solutions including banking and credit from Bank of America, and retirement and investment solutions from Merrill Lynch.
Bank of America Mass Affluent and Small Business Segment executive Dean Athanasia said that the mass affluent are under pressure to meet the short-term responsibilities they face every day and at the same time invest in their long-term goals. This group wants to feel more in control and have told us that they want to call the shots, but at times need a sounding board.
"Merrill Edge Advisory Center clients can seek financial advice when and where they need it, and they’ll have the security of knowing they can see and access their banking and investing accounts in one place, online, anytime, any way they want," Athanasia said.
