BANK OF AMERICA
Hiring Results in Total of 320 FSAs Across State
Bank of America today announced the hiring of 180 Merrill Edge Financial Solutions Advisors (FSAs) throughout New Jersey this year, including 155 FSAs stationed in the Merrill Edge Advisory Center in Hopewell, and 26 in banking centers across northern and central New Jersey. These FSAs provide financial solutions and guidance to help customers manage their banking and investment needs and stay in better control of their finances. The hiring is part of Bank of America's plan to nearly double the number of Financial Solutions Advisors nationally, to more than 1,000, by the end of 2011 as part of its overall commitment to enhance the solutions and guidance it offers to Preferred customers.
Preferred customers - those with investable assets of $50,000 to $250,000 - are among the fastest-growing segments in the financial services industry. Bank of America does business with more than 8 million Preferred customers and has unrivaled insight into their financial needs. According to the Merrill Edge Report, some of the top priorities for Preferred customers include tracking and managing money and budgeting (72 percent), saving for retirement (67 percent) and balancing short- and long-term financial needs (63 percent).
"Preferred customers have a complex set of needs and concerns that go beyond what the standard retail bank can offer, but they don't typically require a full-service financial advisor or a private banker," said Rich Steinmeier, head of the Merrill Edge Advisory Center. "By hiring more Merrill Edge FSAs, we are able to provide these customers with personal attention from a specialist who can recommend solutions tailored to meet their specific financial needs."
In support of its new Preferred service strategy, Bank of America is also working to enhance customer experience and satisfaction by:
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 5,700 retail banking offices, more than 17,800 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.
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Merrill Edge is the marketing name for two businesses: Merrill Edge Advisory Center, which offers team-based advice and guidance brokerage services; and a self-directed online investing platform. Both are made available through Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S).
MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation.
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