CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America announced today that Merrill Edge® has surpassed $200 billion in investment assets under management and more than 2.5 million accounts. Merrill Edge’s growth represents a 54 percent increase over the past three years.
Merrill Edge is a streamlined financial platform that offers access to online and advised investing, trading, brokerage and banking services. Clients can be self-directed; work with a Financial Solutions Advisor™; or access Merrill Edge Guided Investing, an online advisory program that offers Global Wealth and Investment Management CIO-directed portfolio management strategies. Merrill Edge also works with Merrill Lynch and U.S. Trust to support clients’ needs as they become more complex – giving clients access to our full wealth management offering.
Merrill Edge has been offering qualified clients access to commission-free online, stock and ETF trades since launching, including up to 100 free trades per month depending on the depth of the relationship.
“We’ve offered commission-free trading since 2006, and our goal is to provide accessibility to all our clients who qualify in Bank of America’s Preferred Rewards program,” said Aron Levine, head of Consumer Banking and Merrill Edge. “Since 2010, Merrill Edge has offered clients online tools and resources to help them make more informed investment decisions.”
Preferred Rewards recognizes client loyalty through a three-tiered program based on qualifying Bank of America, Merrill Edge, and Merrill Lynch accounts.
Leading digital innovation and research
Merrill Edge recently received five out of five stars from Kiplinger’s “Best Online Brokers” survey for its user experience and research. The recognition follows this year’s launch of two new, patent-pending experiences for self-directed investors, helping them make more informed investing decisions:
- Stock Story helps clients discover critical information about companies in a new, innovative way without complex investment jargon.
- Portfolio Story provides step-by-step guidance to key elements of clients’ accounts, helping them seamlessly find answers to critical investment questions.
Merrill Edge also recently redesigned its mobile app to further streamline the investment process based upon clients’ feedback, including a customizable dashboard and planning tools. The app allows users to trade stocks, ETFs, mutual funds and options ‒ all from their mobile device.
Expanding advice access and specialty centers
Earlier this year, Merrill Edge announced it would add 600 new investment centers to its footprint, bringing its nationwide total to 2,800 by 2020. Merrill Edge will also have more than 4,000 Financial Solutions Advisors across the country by year-end to meet the growing demand for investment services.
The expansion effort is part of Bank of America’s broader strategy to invest 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. Bank of America has 4,400 financial centers across the United States, including 2,200 with dedicated, on-site Merrill Edge Financial Solutions Advisors and another 770 with video conferencing capabilities.
Transforming the investment landscape
Merrill Edge was one of the first platforms to develop an online investment advisory program that combines the best of online investing with a professionally managed portfolio. Merrill Edge Guided Investing is an online investing service that provides access to investment strategies managed by the Global Wealth Management Chief Investment Office, as opposed to an algorithm.
According to the most recent Merrill Edge Report, emerging technologies are drastically shaping where, how and when investors seek financial guidance. One in five respondents report being more likely to rely on digital than in-person advice, and 69 percent believe all financial decisions will be made with the help of technology in their lifetime, further indicating consumers’ desire for the best of both the digital and physical resources when it comes to financial decision-making.
To learn more about Merrill Edge and these updates, visit merrilledge.com.
Merrill Edge is a streamlined investment service that provides access to the investment insights of Merrill Lynch and the convenience of Bank of America banking. With Merrill Edge, clients can view their Merrill Edge investment and Bank of America bank accounts on one page online. They also have access to easy-to-use tools, actionable insights, step-by-step guidance and competitive pricing for online trades.
Bank of America
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 67 million consumer and small business clients with approximately 4,400 retail financial centers, including more than 1,700 lending centers, more than 1,900 Merrill Edge investment centers and more than 1,300 business centers; approximately 16,100 ATMs; and award-winning digital banking with more than 36 million active users, including 25 million mobile 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 3 million small business owners 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 (NYSE: BAC) is listed on the New York Stock Exchange.
1 Merrill Edge was ranked five out of eight online brokers by Kiplinger’s Personal Finance’s “Best Online Brokers” survey, October 2018. To be included, firms had to offer online stock trading, ETFs, funds and individual bonds. Results based on ratings in the following categories: Total Commissions Score, Breadth of Investment Choices, Tools, Research, Ease of Use, Mobile Access, and Advisory Services. Learn more at https://www.kiplinger.com/slideshow/investing/T052-S002-best-online-brokers-2018/index.html from Kiplinger's Personal Finance, October 2018 © 2018 The Kiplinger Washington Editors. Used under license. Merrill Edge provides access to research from BofA Merrill Lynch Global Research, CFRA (powered by S&P Global), Morningstar and others. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.
Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
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, registered investment advisor, Member SIPC and wholly owned subsidiary of Bank of America Corporation.
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© 2018 Bank of America Corporation.