Merrill Wealth Management has announced the establishment of its Ultra-High-Net-Worth (UHNW) Advisory Group. This team consists of over 25 specialists who will collaborate with advisors to provide comprehensive wealth and investment solutions tailored for UHNW clients. The initiative aims to connect these clients with Bank of America's extensive capabilities.
The group is designed to assist advisors in creating personalized portfolios, which include custom asset allocation, multi-asset portfolio construction, and both traditional and alternative investment manager selection. Additionally, the group will serve as a central contact point for advisors to identify opportunities that leverage the full range of services offered by Merrill and Bank of America. These services encompass custom lending, trust and estate services, philanthropy, art services, family office solutions, among others.
Rob Romano has been appointed to lead this new group while continuing his role as Head of Capital Markets Investor Solutions for Merrill. He will report directly to Brian Partridge, Head of Investment Solutions Group Specialists. Partridge's team provides investment education and implementation strategies for Merrill and Bank of America Private Bank advisors and clients.
Romano commented on the launch: “Rapid wealth creation, more intricate financial situations and the importance of generational wealth transfer is creating a need for more advanced guidance for our UHNW clients’ wealth management needs.” He emphasized that the team is composed of investment experts collaborating across the firm to deliver holistic guidance on significant issues facing UHNW families.
Partridge added: “UHNW clients are an evolving and growing client base for Merrill,” highlighting that the creation of this dedicated group represents an effort to enhance support for ultra-high-net-worth client engagement.
Bank of America serves a wide array of customers from individual consumers to large corporations with diverse financial products and services. It boasts approximately 69 million consumer and small business clients in the United States alone. Its operations span across more than 35 countries worldwide.
Investment products available through Merrill Lynch are not FDIC insured or bank guaranteed and may lose value. Trust services are provided by Bank of America’s affiliated banks under regulatory compliance.
For media inquiries, Julia Ehrenfeld from Bank of America can be contacted at 1.646.855.3267 or via email at julia.ehrenfeld@bofa.com.
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