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Global Wealth and Investment Management

4/19/18 9:00 am EDT

A new Merrill Lynch study conducted in partnership with Age Wave, “Women and Financial Wellness: Beyond the Bottom Line,” celebrates the progress made by women while examining the financial challenges women still face throughout their lives, and offers potential solutions. The study finds that 70 percent of women believe that men and women have a fundamentally different life journey, reinforcing the need to better understand women’s financial more...

3/29/18 9:00 am EDT

Bank of America announced today that Merrill Edge® will open 600 new investment centers 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.

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2/27/18 9:00 am EST

A growing number of companies founded and led by women has fueled interest in how women approach entrepreneurism and what it means for a rising generation of female entrepreneurs. U.S. Trust, Bank of America Private Wealth Management, today published “Women’s Entrepreneurial Journey: Profiles of leadership in an era of new opportunities,” a new paper revealing the personal stories of eight women entrepreneurs and five common themes that more...

1/30/18 9:00 am EST

The booming local job market is drawing millennials to Austin more so than any other factor, according to the new Better Money Habits® Millennial Report released by Bank of America today. The report, which surveyed 23- to 37-year-olds, found that 55 percent of millennials in Austin say that employment opportunities are a top benefit to living in the city, while only 39 percent of millennials nationally say the same about the place where they live. more...

1/30/18 9:00 am EST

Denver is a hot market for millennials who are attracted to the city’s job prospects, according to the new Better Money Habits® Millennial Report released today by Bank of America. The report, which surveyed 23- to 37-year-olds, found that 58 percent of millennials in Denver say that employment opportunities are a major benefit to living in the area, while only 39 percent of millennials nationally say the same about where they live. Additionally: more...

1/30/18 9:00 am EST

The gig economy is thriving for millennials in Pittsburgh, according to the new Better Money Habits® Millennial Report released today by Bank of America. Thirty-seven percent of millennials here consider themselves to be part of the gig economy (meaning they take on short-term contracts or freelance work) – more than the national average of 26 percent. The report, which surveyed 23- to 37-year-olds, also found that one in five millennials in Pittsburgh expects to have eight or more jobs in more...

1/30/18 9:00 am EST

Millennials in the Raleigh-Durham area are more likely to stress about finances than their peers nationwide but are still practicing smart financial habits like saving and budgeting, according to the new Better Money Habits® Millennial Report released today by Bank of America.

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1/30/18 9:00 am EST

As local housing costs continue to rise, millennials in San Diego are feeling the pressure. According to the new Better Money Habits® Millennial Report released today by Bank of America, 68 percent of San Diego millennials say housing costs are their top obstacle to financial freedom, followed by day-to-day living expenses (61 percent). more...

1/30/18 9:00 am EST

Nearly three-quarters of Seattle millennials believe passion is more important than salary in their career, according to the new Better Money Habits® Millennial Report released by Bank of America today. Seventy-two percent of Seattle millennials say that personal interest or passion is more important than the size of their paycheck, compared to 56 percent of millennials nationally. more...

1/23/18 9:00 am EST

Millennials are proving that they are just as good as or better than older generations when it comes to money management habits like saving and budgeting, according to the Better Money Habits® Millennial Report released today. Millennials (ages 23 to 37) are saving (63 percent), and they are more likely to say they have a savings goal (57 percent) than members of Gen X (42 percent) and baby boomers (42 percent). It’s not all talk, either: the more...

11/1/17 1:00 pm EDT

A Merrill Lynch study, conducted in partnership with Age Wave, finds that the 40 million1 family caregivers in the U.S. spend $190 billion per year on their adult care recipients. Despite the financial, emotional and functional challenges in this life stage, preserving the dignity of their loved one is their primary goal. The vast majority of caregivers (91 percent) are grateful they could be there to provide care, and 77 percent say they “would more...

6/13/17 9:00 am EDT

The 2017 U.S. Trust Insights on Wealth and Worth® survey released today found that generational diversity is a source of both tension and innovation in families and businesses. Millennials are challenging traditional approaches to investing, philanthropy and pursuit of life and career goals, but family traditions and financial support are the foundations of success and multi-generational family wealth planning. more...

6/1/17 9:00 am EDT

Released today, a new study finds that 56 percent of employees are stressed about their financial situation. The latest Bank of America Merrill Lynch Workplace Benefits Report reveals that among those who are stressed, 53 percent say it interferes with their ability to focus and be productive at work. The study also found that employers can play an important role in improving the financial lives of their employees. more...

2/15/17 11:00 am EST

Today, Bank of America Merrill Lynch released a breakthrough new study, which revealed major gaps in retirement readiness. Among pre-retirees, the survey discovered that half don’t have any positive financial role models and consider finance topics too taboo to discuss openly. Furthermore, financial decisions are the most second-guessed of any major life decisions, and people are more concerned about their personal economy than the overall more...

2/14/17 9:00 am EST

Bank of America today announced that it is enhancing how it engages with clients interested in pursuing positive environmental and social outcomes through impact investing. For several years, client-facing professionals from the company’s Merrill Lynch Wealth Management, U.S. Trust and Merrill Edge businesses have been winning and deepening relationships through goals-based conversations. During these meaningful discussions, clients are more...

11/17/16 9:00 am EST

As 401(k) plan engagement continues to rise, new data from Bank of America Merrill Lynch shows how plan design can be critical to encouraging positive savings behaviors, especially among millennial participants. According to the latest Plan Wellness Scorecard1, 24 percent more employees are enrolled and contributing to their company’s retirement savings plan in the first half of 2016 compared to last year, and millennial participants (ages 21–34) generated more contribution rate increase more...

10/25/16 9:00 am EDT

Most wealthy individuals believe charitable giving (45 percent) and volunteering (31 percent) have the greatest potential for positive impact on society –far more so than voting for (13 percent) or contributing to (1 percent) a political candidate who shares their ideals on topics important to them – according to the 2016 U.S. Trust® Study of High Net Worth Philanthropy. more...

10/6/16 12:00 pm EDT

Bank of America today announced that John Thiel, current head of Merrill Lynch Wealth Management, has decided to step down from his position and will take on a new role as vice chairman of Global Wealth and Investment Management (GWIM), effective January 1, 2017.

Andy Sieg, current head of the company’s Global Wealth and Retirement Solutions division, will succeed Thiel as head of Merrill Lynch Wealth Management, effective January 1, more...

6/9/16 8:30 am EDT

Companies are embracing and promoting a culture that supports the financial well-being of their workers, as employees responded with increasing enrollment, participation and contributions over the last year, according to data released today from the Bank of America Merrill Lynch Plan Wellness Scorecard.1 Last year, total contributions increased by 14 percent, and the number of employees with balances grew 16 percent. A trend, the number of employees who took a positive savings action, either more...

5/23/16 9:00 am EDT

In its annual survey of high net worth business owners, U.S. Trust found that business ownership can be challenging, but most entrepreneurs wouldn’t consider any other line of work and have personally invested themselves and their families in their businesses. While there are distinct differences between younger and older owners, entrepreneurs of all ages share a strong desire to control their own destiny. more...

5/23/16 9:00 am EDT

The 2016 U.S. Trust Insights on Wealth and Worth® survey released today found 10 common success traits that create a picture of modern day wealth in America. more...

5/12/16 9:00 am EDT

A new Merrill Lynch study finds that as the baby boomer generation retires en masse to enjoy newfound freedom of time and activities, an estimated 2.5 trillion hours1 of leisure time will be created among the 65+ population over the next two decades. For the first time in the U.S., more people are in the “time affluent” stage (age 65+) of their life than the “time constrained” stage (ages 35–44). This “leisure boom” will have an unprecedented more...

4/15/16 9:00 am EDT

Three-quarters of wealthy families fail to discuss money and inheritance in ways that avoid misunderstandings and unintended consequences, according to the findings of a nationwide survey published today by Merrill Lynch’s Private Banking and Investment Group.

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4/13/16 9:00 am EDT

A study released today shows that compared to 2013, American workers’ stress about their finances has increased, while confidence in their financial futures has decreased. The latest Bank of America Merrill Lynch Workplace Benefits Report points to employers’ continued adoption of programs that promote financial wellness as a potential key to turning these negative trends around. Eighty-three percent of employees today cite workplace more...

12/14/15 10:00 am EST

U.S. Trust today launched a new component of its proprietary and customizable Socially Innovative Investing (S2I) strategy. The Carbon Reserve-Free Strategy (CRF) offers investors who want to express their environmental values the opportunity to invest in a portfolio that excludes companies that own, extract, distribute and/or process carbon reserves, as well as first-order users including the utilities and energy sectors.

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