Bank of America announced that Merrill Edge® will open 600 new investment centres within its expanding coast-to-coast financial center footprint, bringing its total to 2,800 by 2020. The effort is part of Bank of America’s previously mentioned plan to invest heavily in both its physical and digital presence across the United States, entering new markets and redesigning more than a third of its existing financial centers. To meet growing client demand for investment services, Merrill Edge also expects to add 300 new Financial Solutions Advisors™ for a total of 4,000 representatives by year-end.
The 600 new Merrill Edge investment centers will be added to new and existing Bank of America financial center locations. Merrill Edge investment centers will be built within new financial centers opening in Cleveland; Cincinnati; Columbus; Indianapolis; Lexington, KY; Pittsburgh; and Salt Lake City. Merrill Edge investment centers will also be added to existing financial center locations in Chicago; Houston; Kansas City, Kan.; Los Angeles; Miami; Minneapolis; New York; Philadelphia; San Francisco; and San Jose. Bank of America currently has 4,500 financial centers across the United States, including 2,200 with dedicated, on-site Merrill Edge Financial Solutions Advisors and another 770 through video conferencing.
Merrill Edge is a streamlined financial platform that offers access to online and advised investing, trading, brokerage and banking services. Clients can be self-directed; work with a Financial Solutions Advisor; or access Merrill Edge Guided Investing, an online advisory program that offers Global Wealth & Investment Management CIO-directed portfolio management strategies. Since its creation in 2010, Merrill Edge has grown steadily to $184.5 billion in assets and more than 2.4 million accounts. Merrill Edge also works with Merrill Lynch and U.S. Trust to support clients’ needs as they become more complex – giving clients access to our full wealth management offering.
“Our goal is to serve our clients in ways most convenient to them, and we have both the brick and mortar and the digital presence to do just that,” said Aron Levine, head of Merrill Edge at Bank of America. “Our clients have asked for seamless integration of their Bank of America banking and Merrill Edge investing, and appreciate being recognized and rewarded for their relationship. We continue to listen and deliver, enabling us to grow responsibly and meet our clients’ evolving needs.”
Re-disseminated by The Asian Banker