Bank of America today announced the launch of Merrill
Edge® Select Portfolios™, a new investment
offering that provides everyday investors with access to actively
managed, diversified portfolios through a lower balance requirement.
"Merrill Edge® Select Portfolios™ was specifically
designed with the middle class and emerging affluent investor in mind,"
said Alok Prasad, Merrill Edge executive. "We are lowering the balance
requirements and providing a simple, straightforward way for a broader
range of investors to access professionally managed investments."
Merrill Edge® Select Portfolios™ offers customers
the choice of 10 diversified portfolios, ranging from conservative to
aggressive, to align with their risk tolerance, investment time horizon,
liquidity needs and goals of the individual investor. Investments are
allocated among mutual funds and exchange-traded funds (ETFs) generally
invested in stocks, bonds and international investment products.
Customers can get started with a minimum $20,000 investment, and pay a
low, annualized one percent management fee.
The portfolios are managed by Merrill Lynch Investment professionals who
actively monitor and rebalance the portfolios based on changing market
conditions. In addition, customers can monitor their portfolio
performance in real-time via Merrill Edge.
"This is outstanding opportunity for emerging investors to gain access
to a portfolio managed by Merrill Lynch investment professionals," said
Tom Halloran, Merrill Edge product executive. "Customers will have
choices in how they invest depending on their individual goals, and the
account opening process makes it very easy to get started."
Merrill Edge provides mass affluent customers access to professional
investment guidance through Merrill Edge Financial Solutions Advisors™
in the Merrill Edge Advisory Center™ or in-person at select banking
centers. For customers who prefer to invest on their own, Merrill Edge
provides an online self-directed investing platform, with robust tools
and resources to help them make informed investment decisions.
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 57 million consumer and small business
relationships with approximately 5,700 retail banking offices and
approximately 17,750 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
customers 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.
For more Bank of America news, visit the Bank
of America newsroom.
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, 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
Investing in securities involves risks, and there is always the
potential of losing money when you invest in securities.
Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
© 2012 Bank of America Corporation. All rights reserved.