Bank of America has added a new investment offering to its Merrill Edge program for mass-affluent investors, the bank announced Wednesday. The new offering — called Merrill Edge Select Portfolios — provides customers with access to actively managed, diversified portfolios and is aimed at the “middle class and the emerging affluent investor,” the bank said. The minimum investment is $20,000.
“We are lowering the balance requirements and providing a simple, straightforward way for a broader range of investors to access professionally managed investments,” Alok Prasad, Merrill Edge executive, said in a press release.
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