Hi guys need some help from anyone working at BoA or anyone really. What is the difference between the two? They are both part of the wealth management at BoA. Thanks in advance.

BofA Private bank is the HNW / UHNW arm of Bof A, You're looking at wealth mgmt (investment, tax, credit, trust services, etc) for the ultra wealthy. Team approach headed up by the Private Client Advisor who is primarily relationship based and has a team of PMs, tax and trust folks to provide service. A lot of PE Owner / Portco Owner types as clients. Also work with foundations, endowments, family offices, etc. Merrill Lynch is your typical investment advisor (retail). They do have some fairly large teams. Not sure if they are connecting rookies to a team or not.

Difference between Merill and Bank of America Private Bank

Symfuhny

Senior Gorilla

BofA Securities = Investment Banking, Global Markets, and Capital Markets

Merrill = Investing and Wealth Management

BofA Private Bank = HNW Client advisory including Portfolio Management, Credit, and Trust & Estate Planning.

Googled all this to confirm, but maybe others can provide more in-depth answers.

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rickle

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Difference between Merill and Bank of America Private Bank

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