Bank of America has revealed that Merrill is launching fresh income-focused portfolios that aim to provide those in retirement with steady income over a 25-year period.

The retirement income-focused portfolios, which are now accessible for Merrill Guided Investing and Merrill Guided Investing with Adviser clients, include the following:

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all
  • Income-focused strategy choices: Investors can select income-focused strategies ranging from stable income to income and growth, to suit their time horizon, risk tolerance, and other preferences;
  • Simple integration: Portfolios allows for recurring disbursements into a Bank of America checking account or another bank or investing account of the client’s choice, as well as easy connection with the client’s larger Bank of America and Merrill relationship. Clients must have at least $50,000 in assets to fund the account, and
  • Professionally managed: The chief investment officer oversees portfolios that provide clients with a complete experience in asset allocation, construction, investment selection, and risk management.

The 2023 Bank of America Workplace Benefits Report states that during the previous two years (2021 vs. 2023), employees’ already poor confidence in their capacity to handle retirement income demands has decreased.

This includes the ability to:

  • Go from saving money for retirement to spending money in retirement (30% vs. 24%);
  • Set up the right withdrawal schedule and amount (30% vs 20%), and
  • Have the flexibility to manage unexpected expenses (33% vs. 23%)

Mark Granshaw, head of consumer investments product for Bank of America stated: “The new income-focused portfolios are designed to help with concerns over outliving retirement savings by giving retirees the ability to control their income, while allowing for flexibility as life changes inevitably occur.”

The new income-focused portfolio capabilities are part of Merrill’s newest efforts to tailor the investing experience and assist clients in making informed and secure investment decisions throughout their financial journey.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Merrill Guided Investing is an online investment consulting service that blends online investing with professionally managed portfolios.

Merrill Guided Investing with Adviser provides access to the platform as well as individualised counsel from a Merrill Financial Solutions Adviser.

“For many, the fear of outliving retirement assets can be overwhelming,” added Matt Gellene, head of consumer investments and employee banking & investments at Bank of America.

“Having a predictable monthly income replacement vehicle helps retirees enjoy this phase of life with greater confidence in their long-term financial security.”