Global Wealth and Investment Management

5/13/19 10:00 am EDT

Bank of America announced that it has opened its first full-service financial center in Salt Lake City, bringing banking, investing, lending and small business services to new and existing clients in the area. The Draper financial center serves as a destination to provide clients easy access to expert advice for all their financial needs.

The new financial center, located at 1222 E. Draper Parkway, is state-of-the-art and showcases the newest technology including advanced ATMs; private offices for one-on-one client assistance; on-site specialists, including Merrill financial more...

4/25/19 10:00 am EDT

Bank of America today announced the launch of a digital platform for health savings accounts (HSA) to make the tax-advantaged savings vehicle more accessible and easier to use. The new digital platform offers seamless integration between online and mobile channels, as well as:

  • A bar code scanner to validate qualified medical expenses via mobile devices.

  • Customized participant experience through more...

4/18/19 8:00 am EDT

A new study by Merrill conducted in partnership with Age Wave finds that financial independence defines adulthood today (75 percent) – more so than the traditional milestones of employment (61 percent), homeownership (30 percent) or starting a family (20 percent). However, due to mounting debt, higher costs of living and other hurdles, 80 percent of early adults (ages 18-34) say it is harder to become financially independent than it was for previous generations. Seventy percent of baby boomers, the parents of most of today’s early adults, agree. more...

2/25/19 11:34 am EST

Bank of America today shared additional updates to its brand positioning and logos that represent continued evolution of the brand that began in November 2018

The company, which reported record 2018 earnings and was named Euromoney’s 2018 World’s Best Bank and the only bank on the 2019 Fortune Best Large Companies to Work For, introduced the question “What would you like the power to do?” as the centerpiece of its repositioning in 2018. This reflects the more...

2/7/19 9:00 am EST

A new study by Merrill Lynch conducted in partnership with Age Wave finds nearly half of Americans ages 55 and older do not have a will, despite the widely held belief that people should have their end-of-life affairs in order before they turn 50. Furthermore, only 18 percent of people over the age of 55 have all three expert-recommended legacy plan essentials, which include:

2/5/19 5:45 pm EST

In memory of Terry Laughlin, vice chairman of Bank of America’s wealth management businesses, who passed away in October 2018, Bank of America announced $2.5 million in gifts to the University of Pittsburgh and St. Francis University:

  • A $2 million gift by the Bank of America Charitable Foundation to the University of Pittsburgh, establishing the Terrence Laughlin Chair in Finance. Laughlin earned his MBA from the University of Pittsburgh Joseph M. Katz Graduate School of Business. For more than 10 years, he was a member of the university’s board of trustees.

  • more...
10/26/18 8:19 am EDT

Bank of America today announced the death of Terrence P. Laughlin, vice chairman and head of Global Wealth and Investment Management. He was 63 years old.

“Terry was a builder and a problem solver, and one of the finest individuals I’ve had the privilege to know and work alongside,” said Chief Executive Officer Brian Moynihan. “His leadership on Global Wealth and Investment Management, helping to build a consolidated banking and wealth management business, is without a peer in our industry. Recently, he helped expand our company’s presence in Pittsburgh, his beloved city where he more...

10/24/18 9:00 am EDT

The 2018 U.S. Trust Study of High Net Worth Philanthropy, published today in partnership with the Indiana University Lilly Family School of Philanthropy, finds that wealthy Americans continue to be generous with more...

10/18/18 9:00 am EDT

Bank of America Merrill Lynch today announced innovations to its retirement client experience to help companies address the wide-ranging financial needs of their employees. The enhancements, which span multiple touch points including online, mobile and one-on-one support, are designed to help meet employees’ growing need for holistic and personalized guidance on their path to financial wellness.

Financial wellness programs deliver tangible benefits for employees and employers alike, which may result in more...

10/2/18 10:00 am EDT

Parents in the U.S. now spend $500 billion annually on their 18- to 34-year-old adult children – twice the amount they contribute each year to their retirement accounts ($250 billion)1, according to a new Merrill Lynch study conducted in partnership with Age Wave. The study also found that nearly two-thirds of parents report having sacrificed their own financial security for the sake of their children. Even with the financial challenges and sacrifices, over 90 percent of parents say that parenting is the most rewarding aspect of their lives.

more...
8/1/18 9:00 am EDT

Released today, a new study finds the vast majority of employers and employees1 agree that financial wellness programs offered in the workplace are effective. However, participation may be hindered by a disconnect between employers and employees on what matters most to support financial wellness. About one-third (31 percent) of employees participate in these programs, despite the fact that many report struggling financially. The 2018 Bank of America Merrill more...

6/26/18 9:00 am EDT

Business success typically is measured in financial terms, but more business owners lie awake at night worrying about people-related issues than about money, according to a new nationwide survey of business owners by U.S. Trust, Bank of America Private Wealth Management. The ability to attract top talent, the complexities of family member involvement in a business, and sense of personal responsibility for the livelihood of other people are more...

6/26/18 9:00 am EDT

Financial success ought to come with some measure of freedom – to take risks, pursue passions, give back and make a bigger impact. Yet life and wealth are complicated, and the 2018 U.S. Trust Insights on Wealth and Worth® survey finds that the top reason best intentions fall short is competing priorities. While increased wealth provides the opportunity to do more, it also means juggling increased obligations, expectations and demands. The study more...

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 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. To meet growing client demand for investment services, Merrill Edge also expects to add 300 new Financial more...

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 “ 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.

The report, which surveyed 23- to 37-year- more...

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).

The report, which surveyed 23- to 37-year-olds, found that compared to their peers 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.

The report, which surveyed 23- to 37-year-olds found that 33 percent of millennials here say that they often worry about their financial situation, compared to 25 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 more...