Bank of America Merrill Lynch has added 40 new model portfolios to its investment platform.
The list includes ten model portfolios each from four investment managers- BlackRock, JP Morgan, Franklin Templeton and Natixis Investment Managers.
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They are available through the Merrill Lynch Investment Advisory Program for clients investing at least $50,000.
The introduction further expands the Merrill Lynch model portfolio, offering advisers with additional flexibility while developing personalised portfolios.
Bank of America head of Investment Solutions Group Keith Banks said: “The focus of investing has begun to shift from product selection to portfolio construction, with the true value of advice for clients being the ability to customise unique paths toward reaching their goals.
“Through the expansion of our model portfolio offerings, we’re further integrating investment managers into our strategy, while diversifying options and viewpoints to the benefit of our clients.”
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By GlobalDataThe newly added portfolios are multi-asset offerings including a combination of mutual funds and exchange-traded funds. They are available across investor profiles and tax approaches.
In 2017, Bank of America Merrill Lynch introduced model portfolios under its Chief Investment Office (CIO). Currently, the suite features more than 165 investing portfolios, of which 125 are run by its CIO team.
According to the company, nine of 10 Merrill advisers use a minimum of one CIO model portfolio. Around 25% of them are said to manage at least a quarter of their assets in CIO portfolios.
