BANK OF AMERICA
Enhancements Provide Clients With More Investment Choices, Simplified Pricing and Convenience When Managing Their Investments
NEW YORK--(BUSINESS WIRE)--Bank of America today announced new enhancements to the Merrill Edge® self-directed investing platform, including a simplified pricing structure for self-directed clients, a new streaming trading platform called Merrill Edge Market Pro™, and additional online investment choices on merrilledge.com.
“The expansion of the Merrill Edge platform is just another example of how we continue to deliver investment guidance to meet the unique needs of our investment clients,” said Dean Athanasia, Preferred and Small Business executive for Bank of America. “Clients will get more from our platform through enhancements that offer convenient and leading-edge tools they need to help them invest, at a very competitive, simplified pricing structure.”
To continue cultivating a more user-friendly experience, Merrill Edge eliminated its four-tiered pricing structure in favor of a more streamlined, simplified approach for its self-directed clients. All stock and exchange-traded-fund (ETF) trades have moved to a flat fee of $6.95 for self-directed investing. In addition, clients who have more than $25,000 in cash balances with Merrill Edge or Bank of America will continue to receive 30 free trades per month.1 The company has also eliminated account minimums and maintenance fees for self-directed accounts.
“One of our top goals is to listen to our clients and deliver solutions that help them meet their needs in a way that is easy to understand,” said Alok Prasad, head of Merrill Edge. “Simplifying our pricing structure met a key client need, while also allowing us to take an industry-leading position. We expect about 75 percent of Merrill Edge self-directed clients will see lower per trade fees, and no client will see an increase in these fees.”
In addition to simplifying its pricing structure, Merrill Edge has made significant improvements to the online investment experience for clients, including the development of Merrill Edge Market Pro™2.
Merrill Edge Market Pro™ is a new streaming trading platform geared toward sophisticated self-directed investors and active traders. The platform provides clients with real-time market analysis for greater control over every trade, customization and features including integrated trading, account information, in-depth streaming market data and greater access to proprietary research.
“The November Merrill Edge Report indicated that half of mass affluent consumers will consider reallocating their portfolios over the next six months,” said Prasad. “New tools like Merrill Edge Market Pro™ allow our clients to receive up-to-the-minute trading information to help them make decisions on their own, and give clients the choice to help them manage their investments in the way that’s most convenient for them.”
Additional enhancements to the online platform include:
In 2011, Bank of America doubled the number of Merrill Edge Financial Solutions Advisors (FSAs) to more than 1,200 nationwide in banking centers throughout the United States or in the Merrill Edge Advisory Center. These FSAs provide guidance to clients with under $250,000 in investable assets.
1 $0 trades are only available with an individual or joint Merrill Edge self-directed brokerage account. MLPF&S waives its commission fee for as many as 30 monthly online equity trades, including stock and exchange traded funds (ETFs) for customers who meet any one of the following criteria:
This offer does not apply to Business/Corporate Accounts, Investment Club Accounts, Partnership Accounts and certain fiduciary accounts held at MLPF&S.
2 Merrill Edge Market Pro is available to Merrill Edge self-directed only relationships. To qualify, you must have total combined balances of more than $50,000 in your Merrill Lynch investment accounts and Bank of America, N.A. deposit accounts or make greater than 60 self-directed trades a year. For more details on how balance and trading requirements are determined, see merrilledge.com/marketpro. Relationship requirements are subject to change.
The information provided by Merrill Edge Market Pro is not a recommendation of a transaction or investment strategy involving a security or securities. It also is not an offer to sell. The information provided does not take into account your particular investment objectives, financial situation or needs, or tax status and should not be used or construed as an indicator of future performance. Before acting on any of the information, you should consider whether it is appropriate for your particular circumstances and, if necessary, seek professional advice.
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 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 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 4 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.
For more Bank of America news, visit the Bank of America newsroom.
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 a wholly owned subsidiary of Bank of America Corporation.
Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.
|Are Not FDIC Insured||Are Not Bank Guaranteed||May Lose Value|
© 2012 Bank of America Corporation. All rights reserved.