Payments

Bank of America surpasses $500B in consumer investments

Photo: Adobe Stock

January 15, 2025

Bank of America's Consumer Investments business now has more than $500 billion in assets. This includes almost 4 million accounts with Merrill Edge Self-Directed and Guided Investing, according to a press release.

Of the investing accounts, 33% are held by Gen Z and Millennial clients, and 52% of Merrill Guided Investing accounts.

"The launch of Merrill Edge over a decade ago solidified our competitive advantage enabling us to fully meet the banking, lending and investing needs of all 69 million consumer and small business clients," Aron Levine, president of Preferred Banking, Bank of America, said in the release. "Together with Merrill and Bank of America Private Bank, we're using the power of Bank of America to help clients build wealth and manage their entire financial lives."

"Our high-tech, high-touch approach sets us apart and the number of Consumer Investments accounts has continued to increase every year as clients enjoy our advanced digital platform," Matt Gellene, head of Consumer Investments and Employee Banking and Investments, Bank of America, said in the release. "They also appreciate access to our financial specialists, with more than 80% of new accounts being opened after meeting with one of our Financial Solutions Advisors."