Bank of America says it recently added more than 280 advisors in Texas and Florida devoted to serving what it calls "preferred" customers, which are people with investable assets of between $50,000 to $250,000. BofA says the preferred client demographic is among the fastest growing groups in financial services industry.
The company now has more than 1,200 Merrill Lynch Financial Solutions Advisors working in its banking centers or at Merrill Edge Advisory Centers across the country. That exceeds BofA's stated year-end goal of doubling these types of advisors to more than 1,000 nationwide.
Bank of America also says it has rolled out its platinum privileges program in eight additional states and Washington D.C. The program delivers higher levels of service and benefits for banking and investing to customers with $50,000 in deposit balances with Bank of America or in investment balances with Merrill Edge.
The platinum program initially was rolled out in nine states in September, and BofA says more markets will be added next year.