New Merrill Portfolios Designed to Provide BofA Clients Predictable Income in Retirement
March 25, 2024 at 9:04 AM Eastern
CHARLOTTE, NC – Bank of America today announced Merrill is offering new income-focused portfolios designed to deliver predictable income for retirees over a 25-year period.
“For many, the fear of outliving retirement assets can be overwhelming,” said Matt Gellene, Head of Consumer Investments and Employee Banking & Investments at Bank of America. “Having a predictable monthly income replacement vehicle helps retirees enjoy this phase of life with greater confidence in their long-term financial security.”
Now available for Merrill Guided Investing and Merrill Guided Investing with Advisor clients, key features of the income-focused portfolios include:
According to the 2023 Bank of America Workplace Benefits Report (PDF), already low confidence among employees in their ability to manage retirement income needs has gotten lower over the last two years (2021 vs. 2023), including the ability to:
“The new income-focused portfolios are designed to help with concerns over outliving retirement savings by giving retirees the ability to control their income, while allowing for flexibility as life changes inevitably occur,” said Mark Granshaw, Head of Consumer Investments Product for Bank of America.
The new income-focused portfolio capabilities are part of Merrill’s latest enhancements to personalize the investing experience and help clients make more informed and confident investing decisions throughout their financial journey. Merrill Guided Investing is an online investment advisory program that combines online investing with a professionally managed portfolio. Merrill Guided Investing with Advisor offers access to the platform and additional one-on-one guidance from a Merrill Financial Solutions Advisor.
Bank of America is one of the world’s leading 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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, 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 households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
March 25, 2024 at 9:04 AM Eastern
New Merrill Portfolios Designed to Provide BofA Clients Predictable Income in Retirement
CHARLOTTE, NC – Bank of America today announced Merrill is offering new income-focused portfolios designed to deliver predictable income for retirees over a 25-year period.
“For many, the fear of outliving retirement assets can be overwhelming,” said Matt Gellene, Head of Consumer Investments and Employee Banking & Investments at Bank of America. “Having a predictable monthly income replacement vehicle helps retirees enjoy this phase of life with greater confidence in their long-term financial security.”
Now available for Merrill Guided Investing and Merrill Guided Investing with Advisor clients, key features of the income-focused portfolios include:
According to the 2023 Bank of America Workplace Benefits Report (PDF), already low confidence among employees in their ability to manage retirement income needs has gotten lower over the last two years (2021 vs. 2023), including the ability to:
“The new income-focused portfolios are designed to help with concerns over outliving retirement savings by giving retirees the ability to control their income, while allowing for flexibility as life changes inevitably occur,” said Mark Granshaw, Head of Consumer Investments Product for Bank of America.
The new income-focused portfolio capabilities are part of Merrill’s latest enhancements to personalize the investing experience and help clients make more informed and confident investing decisions throughout their financial journey. Merrill Guided Investing is an online investment advisory program that combines online investing with a professionally managed portfolio. Merrill Guided Investing with Advisor offers access to the platform and additional one-on-one guidance from a Merrill Financial Solutions Advisor.
Bank of America is one of the world’s leading 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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, 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 households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com