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Merrill Boosts Retirement Focus, Promotes 2 Managers

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Bank of America-Merrill Lynch (BAC) says it has created a team focused on retirement investments and income. The group will be led by Kirstin Hill, who reports to David Tyrie, head of retirement and personal wealth solutions.

The Retirement Investment & Income Group is focused on creating and improving retirement products for clients, according to Merrill, as well as combining investments with client needs. In addition, the team will help speed up work on programs like Merrill Lynch Clear, the firm says.

(Clear is a Merrill tool that facilitates dialogue around life priorities and goals.)

Under Hill’s leadership, the program aims to improve the ability to match clients’ life priorities and goals with their investment and income solutions, according to statement. She also will focus on matching clients with retirement specialists and annuities solution.

Hill joined Merrill Lynch in 1999 and became part of the Global Wealth Management operations in 2007.

In addition, the wirehouse says Kim Kasin, now head of Financial Guidance Services, will also be in charge of Executive Services and Reserve Shares.

Recently, Merrill Lynch said it recruited advisor Michael Grisaffi and his practice joined in Houston. The group includes Michael Hopper and Jose Valle and has more than $115 million of client assets under management. The team’s yearly fees & commissions were $1.65 million last year.

Grisaffi has been in the business since 2001, when he joined Morgan Stanley. He has since worked for Lincoln National, Lincoln Financial, A.G. Edwards, Raymond James & Associates, Guaranty Brokerage Services, BBVA Compass and BBVA Securities.

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