Bank of America today announced that it has hired nearly 40 Merrill Edge Financial Solutions Advisors (FSAs) in the Mid-Atlantic region, including Washington, D.C., Baltimore and Philadelphia, as part of its overall commitment to enhance the solutions and guidance it offers to Preferred customers. These FSAs will 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 to more than 1,000 nationally by the end of 2011.

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 wanting a better retirement than their parents (85 percent), having access to both banking and investing solutions (73 percent) and maintaining the ability to track and manage their money (72 percent).

“The build-up of a dedicated team of Preferred customer specialists is part of a strategy to offer a differentiated experience to our Preferred and small business customers in the Mid-Atlantic region,” said Tony Burns, Merrill Edge Mid-Atlantic regional sales manager. “By adding FSAs in the banking centers, we offer customers the benefit of in-person attention from a specialist who can help them meet their entire financial needs across banking and investing.”

In support of its new Preferred service strategy, Bank of America is also working to enhance customer experience and satisfaction by:

• Introducing specialty stores that provide in-person access to investment, small business and mortgage specialists and use technologies such as video conferencing. Bank of America has already introduced five of these stores in the Washington, D.C., area.
• Continuing to improve the Merrill Edge offering, including the introduction of a mobile application for iPad, iPhone and BlackBerry earlier this year, and the addition of 481 new no-transaction-fee (NTF) mutual funds.
• Piloting Platinum Privileges, which reward customers who maintain $50,000 or more in deposit balances with Bank of America or investment balances with Merrill Edge with higher levels of service and comprehensive benefits across their banking and investing needs.
• Hiring 1,000 small business bankers in local communities to provide small business customers with local specialists to address their complex financial needs. Together with the 1,000 FSAs, this will create a 2,000-plus person team dedicated to the more complex needs of Preferred and small business customers.

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.

www.bankofamerica.com

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.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

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