Bank of America's Personal Retirement Strategy Surpasses $100 Billion in Assets
Bank of America announced that its Personal Retirement Strategy (PRS) has surpassed $100 billion in total assets, with over $10 billion managed through Merrill Managed. The program helps employees participating in institutional 401(k) plans build personalized retirement income strategies using planning tools and professional investment management integrated into their workplace experience. The growth of PRS reflects increasing demand for tailored financial guidance as individuals seek to navigate complex retirement decisions. Bank of America's Workplace Benefits suite includes digital solutions that allow participants to model different scenarios, understand potential outcomes, and access actionable advice designed to improve retirement readiness. The company emphasizes its commitment to helping employees achieve long-term goals through innovative features and evolving strategies. Merrill Managed offers discretionary portfolio management for an additional fee, continuously monitoring and rebalancing investments to align with individual objectives. This milestone highlights the growing trust in professional investment services as part of a comprehensive retirement strategy.
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Topics: assets_under_management managed_accounts personal_retirement_strategy