Bank of America (BofA) has unveiled an online retail brokerage, Merrill Edge. The brokerage will target “mass affluent” customers and its clients will be allowed to choose a self-directed investing account or an account through the Merrill Edge Advisory Center for financial guidance. BofA has integrated Merrill Edge with its online banking, ATM network and mobile banking services. The bank may also unveil a new recognition and benefits program, Platinum Privileges, which will offer services to customers who maintain $50,000 or more in deposit accounts with BofA or investment balances with Merrill Edge.
Click here for the release from Bank of America.