Merrill Edge, an online discount brokerage service provided by Bank of America Merrill Lynch, has launched a new online advisory solution in the US that will combine expert insight with the convenience and flexibility of online management.

The newly launched platform, called Merrill Edge Guided Investing, will provide access to strategies that are managed by the Global Wealth and Investment Management (GWIM) chief investment office (CIO), rather than algorithms.

Customers with as little as $5,000 can open an account, specifying their investment goal following which they will receive a recommended investment strategy designed by a team of Merrill Lynch investment experts.

Merrill Edge head Aron Levine said: “Not all investors are alike, and neither are all online advisory platforms. We recognize that investors have different needs, preferences, and levels of complexity in their lives.

“No matter when, where, or how they like to invest – whether independently, with an advisor, or through some combination of both – we aim to help them pursue their financial and life goals. Merrill Edge Guided Investing is our way of bringing together advice and technology to create stronger relationships with investors.”

Merrill Edge Advisory and Client Services head David Poole said: “By using innovative technology backed by the expertise of Merrill Lynch’s investment professionals, clients can take concrete steps towards meeting specific investing goals, with an easy-to-use online experience and professionally managed portfolios – all with a low minimum investment.”