Software
BoA says access to Merrill Lynch accounts restored after outage
November 25, 2020
Bank of America's Merrill Lynch wealth management platform crashed Tuesday morning putting brokers and investors in a tailspin for four hours according to a report in Advisor Hub.
Client funds couldn't be wired and stock executions couldn't be confirmed and brokers resorted to using a back-up system to enter trades. Frustrated customers took to social media to complain.
"@MerrillEdge fix your platform! This is ridiculous," Twitter user @gadawg80 wrote. "Why can you not have the resources to keep your platform working in not even volatile market conditions."
"@MerrillEdge it's so nice Dow hits 30k and I can't make a trade," user @jeffabro tweeted.
Bank of America spokesman Mark Pipitone, declined to comment on the cause of the problem.
