Today, Merrill Wealth Management announced the launch of its Ultra-High-Net-Worth (UHNW) Advisory Group, a team of more than 25 Merrill specialists who will partner with advisors to deliver comprehensive wealth and investment solutions to UHNW clients and connect them to Bank of America’s breadth of capabilities.
This Group will help advisors deliver personalized portfolios through custom asset allocation, multi-asset portfolio construction, traditional and alternative investment manager selection, and other bespoke investment solutions to address clients’ unique financial circumstances. The specialists will also serve as a single point of contact for advisors to identify opportunities to offer the full breadth of the firm’s capabilities to address UHNW clients’ complex needs, including: Bank of America’s custom lending, Bank of America Private Bank’s trust & estate services, philanthropy, art services, family office solutions and more.
In addition to his role as Head of Capital Markets Investor Solutions for Merrill, Rob Romano, has been appointed to lead the new group. He will report to Brian Partridge, Head of Investment Solutions Group Specialists, who oversees a multi-discipline team providing investment education and implementation ideas to Merrill and Bank of America Private Bank advisors and clients.
“Rapid wealth creation, more intricate financial situations and the importance of generational wealth transfer is creating a need for more advanced guidance for our UHNW clients’ wealth management needs,” said Romano. “Comprised of investment experts and partnering across the firm to deliver holistic guidance on the issues that matter for UHNW families, this team will be an added resource and tailored support to advisors’ and their client relationships.”
“UHNW clients are an evolving and growing client base for Merrill,” said Partridge. “The establishment of a dedicated group to better support ultra-high-net-worth client engagement is the latest example of how we are supporting our advisors as they serve clients and grow their businesses.”