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March 02, 2015 at 07:00 PM
Bank of America-Merrill Lynch is rolling out several enhancements to its Clear process, which aims to further boost the Thundering Herd’s ability to help clients with retirement planning and living. They include a partnership with luxury travel firm Virtuoso and a longevity training program developed with the University of Southern California.
“We’re continuously exploring and adding powerful capabilities to Merrill Lynch Clear,” said David Tyrie, head of Retirement and Personal Wealth Solutions for Merrill Lynch, in a statement. “This dynamic approach is helping to better connect more people’s lives to their finances through broader, more personally meaningful conversations with their financial advisors about their priorities.”
Merrill launched Clear last May, so its advisors could focus on seven client “life priorities: family, home, finances, work, health, leisure and giving,” according to the firm. These priorities, of course, are addressed along with financial goals analysis and mixed in with the advisors’ financial-planning efforts. Together, they form Merrill’s Goals-Based Wealth Management approach.
Clients using Clear will now have access to travel advisors through Virtuoso. In a statement from Merrill, Tyrie says the program will help advisors and clients “broaden the retirement planning conversation and to help clients make the most of their free time.”
The 12-hour longevity training program will give advisors more research regarding the needs of today’s aging population and new insights into retirement realities, through a project with Age Wave. A pilot group of 50 Merrill reps and specialists began the course last month.
