BofA's Consumer Investments Surpasses $500 Billion in Assets as Clients Choose High-Tech, High Touch Approach to Managing Finances
Bank of America announced its Consumer Investments business has surpassed $500 billion in client assets, marking a more than 10-fold increase over the past decade. The business manages nearly 4 million client accounts through Merrill Edge Self-Directed and Merrill Guided Investing platforms.
The company's high-tech, high-touch approach combines an advanced digital platform with access to over 3,000 financial solutions advisors across 3,700 financial centers. Notably, 33% of all Consumer Investments accounts are held by Gen Z and Millennial clients, who represent 52% of all Merrill Guided Investing accounts.
The platform offers innovative features like Dynamic Insights and Idea Builder, providing AI-driven personalized guidance and investment tools. The service includes both self-directed options and guided investing with advisor support, catering to various investor preferences and experience levels.
Bank of America ha annunciato che la sua divisione Consumer Investments ha superato 500 miliardi di dollari in asset dei clienti, segnando un aumento di oltre 10 volte negli ultimi dieci anni. L'azienda gestisce quasi 4 milioni di conti clienti attraverso le piattaforme Merrill Edge Self-Directed e Merrill Guided Investing.
L'approccio high-tech e high-touch dell'azienda combina una piattaforma digitale avanzata con l'accesso a oltre 3.000 consulenti finanziari distribuiti in 3.700 centri finanziari. È interessante notare che il 33% di tutti i conti Consumer Investments è detenuto da clienti della Gen Z e Millennials, che rappresentano il 52% di tutti i conti Merrill Guided Investing.
La piattaforma offre caratteristiche innovative come Dynamic Insights e Idea Builder, fornendo una guida personalizzata e strumenti d'investimento arricchiti dall'IA. Il servizio include sia opzioni di investimento autonomo che guidato con il supporto di un consulente, soddisfacendo varie preferenze e livelli di esperienza degli investitori.
Bank of America anunció que su negocio de Inversiones para Consumidores ha superado los $500 mil millones en activos de clientes, marcando un aumento de más de 10 veces en la última década. La empresa gestiona cerca de 4 millones de cuentas de clientes a través de las plataformas Merrill Edge Self-Directed y Merrill Guided Investing.
El enfoque de alta tecnología y alta atención de la compañía combina una plataforma digital avanzada con acceso a más de 3,000 asesores de soluciones financieras en 3,700 centros financieros. Cabe destacar que el 33% de todas las cuentas de Inversiones para Consumidores son mantenidas por clientes de la Generación Z y Millennials, que representan el 52% de todas las cuentas de Merrill Guided Investing.
La plataforma ofrece características innovadoras como Dynamic Insights e Idea Builder, proporcionando orientación personalizada impulsada por IA y herramientas de inversión. El servicio incluye opciones tanto autodirigidas como guiadas con apoyo de asesores, atendiendo diversas preferencias y niveles de experiencia de los inversores.
뱅크 오브 아메리카는 자사의 소비자 투자 부문이 고객 자산 5,000억 달러를 초과했다고 발표하며, 이는 지난 10년 동안 10배 이상 증가한 수치입니다. 이 사업부는 Merrill Edge Self-Directed 및 Merrill Guided Investing 플랫폼을 통해 거의 400만 개의 고객 계좌를 관리하고 있습니다.
회사의 첨단 기술과 개인적인 접근 방식은 고급 디지털 플랫폼을 3,000명 이상의 금융 솔루션 자문가에 대한 접근과 함께 결합하여 3,700개의 금융 센터를 통해 제공됩니다. 흥미롭게도, 33%의 모든 소비자 투자 계좌는 Z세대 및 밀레니얼 고객이 보유하고 있으며, 이들은 모든 Merrill Guided Investing 계좌의 52%를 차지합니다.
이 플랫폼은 Dynamic Insights 및 Idea Builder와 같은 혁신적인 기능을 제공하여 AI 기반의 개인화된 안내 및 투자 도구를 제공합니다. 이 서비스는 자문 지원을 받는 자율적 옵션과 가이드 투자 모두를 포함하여 다양한 투자자의 선호도와 경험 수준을 충족합니다.
Bank of America a annoncé que son activité d'Investissements pour les Consommateurs a dépassé 500 milliards de dollars en actifs clients, marquant une augmentation de plus de 10 fois au cours de la dernière décennie. L'entreprise gère près de 4 millions de comptes clients via les plateformes Merrill Edge Self-Directed et Merrill Guided Investing.
La démarche high-tech et personnalisée de l'entreprise combine une plateforme numérique avancée avec l'accès à plus de 3 000 conseillers financiers répartis sur 3 700 centres financiers. Notamment, 33% de tous les comptes d'Investissements pour les Consommateurs sont détenus par des clients de la Génération Z et des Millennials, qui représentent 52% de tous les comptes Merrill Guided Investing.
La plateforme offre des fonctionnalités innovantes telles que Dynamic Insights et Idea Builder, fournissant un accompagnement personnalisé basé sur l'IA ainsi que des outils d'investissement. Le service comprend des options autogérées et des investissements guidés avec soutien d'un conseiller, s'adaptant ainsi à diverses préférences et niveaux d'expérience des investisseurs.
Bank of America hat angekündigt, dass ihr Geschäft mit Verbraucheranlagen 500 Milliarden Dollar an Kundenvermögen überschreitet, was in den letzten zehn Jahren einen Anstieg von über dem Zehnfachen bedeutet. Das Unternehmen verwaltet nahezu 4 Millionen Kundenkonten über die Plattformen Merrill Edge Self-Directed und Merrill Guided Investing.
Der technologiegestützte und gleichzeitig persönliche Ansatz des Unternehmens kombiniert eine hochentwickelte digitale Plattform mit dem Zugang zu über 3.000 Finanzlösungsberatern in 3.700 Finanzzentren. Bemerkenswert ist, dass 33% aller Verbraucheranlagenkonten von Gen Z- und Millennials-Kunden gehalten werden, die 52% aller Merrill Guided Investing-Konten ausmachen.
Die Plattform bietet innovative Funktionen wie Dynamic Insights und Idea Builder, die KI-gestützte persönliche Beratung und Investment-Tools bereitstellen. Der Dienst umfasst sowohl selbstgesteuerte Optionen als auch geführte Investitionen mit Beraterunterstützung und erfüllt somit die unterschiedlichen Vorlieben und Erfahrungslevels der Anleger.
- Achieved $500 billion in consumer investment assets, representing 10x growth in 10 years
- Strong client base with nearly 4 million accounts
- High adoption rate among younger generations (33% Gen Z and Millennial clients)
- Extensive physical presence with 3,000+ financial advisors across 3,700 centers
- None.
Insights
The milestone of
The
The integration of AI-driven tools like Dynamic Insights and Idea Builder represents a competitive advantage in the increasingly important digital wealth management space. These innovations help defend against fintech competitors while maintaining the profitability advantages of a traditional banking infrastructure.
The expansion of BAC's consumer investment business reflects broader industry trends toward democratized investing and digital-first services. The high-tech, high-touch model has proven particularly effective, with over
The data showing
The integration of AI-driven personalization through Dynamic Insights and Idea Builder represents a significant technological advancement in retail investing. These tools address a critical market need by helping self-directed investors navigate complex market data while maintaining the scalability of a digital platform. The renovation of 3,700 financial centers to accommodate 10 million annual client appointments demonstrates BAC's commitment to an omnichannel strategy that leverages both digital capabilities and physical presence.
The platform's success in attracting nearly 4 million accounts validates the technology investment strategy and suggests strong potential for continued growth through network effects and increased platform engagement.
Innovative investing platform and access to thousands of advisors helps investors with nearly 4 million accounts pursue their financial goals
"The launch of Merrill Edge over a decade ago solidified our competitive advantage enabling us to fully meet the banking, lending and investing needs of all 69 million consumer and small business clients," said Aron Levine, President of Preferred Banking. "Together with Merrill and Bank of America Private Bank, we're using the power of Bank of America to help clients build wealth and manage their entire financial lives."
Consumer Investments clients have increasingly opted for managed account options based on their unique investment needs, reinforcing the high-tech, high-touch approach clients receive through the Merrill Edge platform and from more than 3,000 financial solutions advisors.
Financial solutions advisors are available across the bank's network of more than 3,700 financial centers. The bank recently announced plans to expand it financial center network and completion of a multi-year renovation initiative to modernize its centers to create more spaces for nearly 10 million client appointments per year with financial specialists.
"Our high-tech, high-touch approach sets us apart and the number of Consumer Investments accounts has continued to increase every year as clients enjoy our advanced digital platform," said Matt Gellene, Head of Consumer Investments and Employee Banking & Investments. "They also appreciate access to our financial specialists, with more than
Currently,
A recent report from Bank of America Institute found nearly three-in-five (
Industry-leading investment solutions
When launched in 2010, Merrill Edge Self-Directed gave Bank of America clients access to Merrill's personalized guidance and exclusive tools. Since its launch, Merrill Edge Self-Directed has filled a gap in the marketplace, helping clients confidently put their investing ideas into action by offering personalized guidance, insights and tools such as:
- Dynamic Insights, an AI-driven experience that sorts through the large quantity of data that is available to investors to create a personalized dashboard of timely, relevant market information and personalized portfolio insights based on each client's unique investing style and preferences.
- Idea Builder, an AI-driven innovation that helps clients find, validate, and monitor their investing ideas. Whether clients are new to investing or more experienced, Idea Builder helps investors make more informed and confident investing decisions.
In 2017, Bank of America clients gained access to Merrill Guided Investing, a goals-based advisory program and one of the first online platforms to provide convenient digital access to investment strategies that are developed and managed by experts, rather than algorithms. Merrill has steadily invested in the platform, including rolling out Merrill Guided Investing with Advisor in 2019, which combines the digital platform with guidance from a financial solutions advisor.
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
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC)popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp.").
Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation ("BofA Corp.").
Are | Are Not Bank Guaranteed | May Lose Value |
Are Not Deposits | Are Not Insured by Any Governmental | Are Not a Condition to Any Banking Service or |
Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation (BofA Corp.).
"Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is registered as a futures commission merchant with the CFTC and is a member of the NFA.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Reporters may contact:
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
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SOURCE Bank of America Corporation
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