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Bank Of America Introduces Merrill Edge® Roadmap™

Business Wire

02/14/13 - 09:00 AM EST

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 Center account.

Bank of AmericaBank 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.

www.bankofamerica.com

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.

Investment products:

Are Not FDIC Insured     Are Not Bank Guaranteed     May Lose Value

© 2013 Bank of America Corporation. All rights reserved.


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