Having started to update its brand last November, Bank of America has now announced it will be presenting retirement plan sponsors with the Bank of America brand and participants with the Merrill brand.
The new positioning will be supported by a multiyear advertising campaign featuring clients, communities and partners. The first phase premiered last November and the second phase launched in early February 2019 through a series of local print advertisements in the company’s 92 consolidated U.S. markets. The ads feature the Bank of America president in each market asking, “What would you like the power to do?”
Bank of America will remain the company’s enterprise brand. Merrill will serve as the sub-brand for its investing and wealth management offerings. Merrill Edge Self-Directed, Merrill Guided Investment, Merrill Lynch Wealth Management and Merrill Private Wealth Management will transition to the Merrill sub-brand. BoA Securities will represent its institutional broker/dealer businesses.
“The campaign will represent a significant investment in our wealth management business and in our advisers, bringing more visibility to Merrill and celebrating its unique heritage by conveying a clear understanding of our clients’ changing needs and preferences and the value of providing advice and guidance that evolves over time as they lives change,” BoA said in a statement.