Bank of America recently launched Financial Life Benefits, a suite of workplace benefits and solutions designed to help employees of the bank’s large-to-mid-sized corporate clients save and invest at every stage of their financial lives, according to a press release.
The company said 40% of the nation’s large- and mid-sized companies have a corporate banking relationship with Bank of America, including 95% of the U.S. Fortune 1,000 and 3 million small-business owners.
Financial Life Benefits combines traditional financial benefits—including 401(k), health-care savings, equity compensation and non-qualified deferred compensation plans—with a corporate employee banking and investment service offering available to workers at the bank’s many client corporations.
The bank’s Merrill division and its network of 25,000 client-facing professionals and employee benefit specialists will work one-on-one or in group workshops at any of the bank’s 4,300 local financial centers across the country, or through the bank’s call centers.
Employees can also opt for an online financial counseling experience via the bank's artificial intelligence-driven platform, which the company says delivers personalized content and relevant guidance.
Bank of America Corporation is a multinational investment bank and financial services company based in Charlotte, N.C.