Bank of America Introduces Merrill Edge® Roadmap™
Simplified Experience Helps Mass Affluent Achieve Their Financial Goals
NEW YORK -- February 14, 2013
Bank of America today introduced Merrill Edge^® Roadmap™^1, a new way to help
mass affluent clients pursue their financial goals through personalized advice
and guidance from a licensed Merrill Edge Financial Solutions Advisor™.
Merrill Edge Roadmap provides a simple way for clients to understand their
current financial situation, document their financial goals, and create an
action plan to help them pursue those goals. To ensure that clients stay on
track, Merrill Edge Roadmap includes a complimentary review of their progress
at least twice a year.
“Mass affluent clients are focused on meeting their individual and family life
goals, such as having a comfortable retirement or sending their children to
college,” said Alok Prasad, head of Merrill Edge. “Merrill Edge Roadmap looks
at their financial goals and provides specific steps that they can act on by
working with a Merrill Edge Financial Solutions Advisor.”
According to the fall 2012 Merrill Edge Report, three-quarters (73 percent) of
mass affluent Americans are concerned that their retirement assets won’t last
throughout their lifetime, and 67 percent are concerned they won’t be able to
afford the lifestyle they desire in retirement. The cost of college is also a
concern, with nearly three-in-five (58 percent) dipping into their own
personal savings to fund their children’s education. As a result, 76 percent
of mass affluent Americans are seeking some kind of guidance to help them
manage important financial tasks.
The Merrill Edge Roadmap experience starts with a one-on-one conversation with
a licensed Merrill Edge Financial Solutions Advisor. The conversation focuses
on clearly laying out the client’s current financial situation – including
savings, income and expenses. This is followed by a detailed discussion of the
goals for the client and their families, which may include retirement, college
savings, emergency funds, saving for a large purchase, or accumulating wealth.
From there, a client receives a free financial assessment and action plan,
including specific investment recommendations tailored to their needs. Moving
forward, a client will receive reports detailing the progress they are making
towards their specific goals. They will also have the opportunity to meet with
a Financial Solutions Advisor every six months or as needed to review their
advancement toward their goals and make adjustments if necessary.
“We understand that our clients have unique financial situations and personal
goals that evolve with time,” said Prasad. “Merrill Edge Roadmap will help
them to identify and pursue these evolving goals throughout their lifetime –
from entering the workforce to preparing for retirement.”
Bank of America and Merrill Edge are committed to simplifying the financial
lives of the mass affluent. Clients can seamlessly manage all of their Bank of
America bank accounts and Merrill Edge investment accounts in one place.
^1Merrill Edge Roadmap is available with a Merrill Edge Advisory
Bank of America
Bank of America is one of the world's largest financial institutions, serving
individual consumers, small- and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving approximately 53
million consumer and small business relationships with approximately 5,500
retail banking offices and approximately 16,300 ATMs and award-winning online
banking with 30 million active users. Bank of America is among the world's
leading wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE: BAC) is a component of the
Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank of America news.
Banking products are provided by Bank of America, N.A., and affiliated banks,
Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
Merrill Edge is available through Merrill Lynch, Pierce, Fenner & Smith
Incorporated (MLPF&S), and consists of the Merrill Edge Advisory Center
(investment guidance) and self-directed online investing.
MLPF&S is a registered broker-dealer, Member SIPC and wholly owned subsidiary
of Bank of America Corporation.
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
© 2013 Bank of America Corporation. All rights reserved.
Reporters May Contact:
Don Vecchiarello, Bank of America, 1.980.387.4899
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