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November 13, 2020 at 02:14 PM
(Photo: AP)
Bank of America has added Vanguard and several other asset managers as providers of model portfolios to its Merrill Lynch investment advisory platform.
Vanguard, in partnership with Capital Group’s American Funds, is providing BofA-Merrill with 10 new hybrid model portfolios that combine passive index ETFs with actively managed funds. Vanguard provides the index funds and serves as the strategist for the new models, while American Funds provides the active component of the portfolios.
Bank of America has also expanded its offerings of sustainable investment model portfolios, adding portfolios from DWS, Goldman Sachs Asset Management and Neuberger Berman to model portfolios provided by third parties.
Hybrid model portfolios from Columbia Threadneedle have also been added to the platform to provide tax-efficient investments for high net worth advisor clients.
All of these investment managers, except Capital Group’s American Funds, are new to the Merrill Lynch investment advisory platform.
There is a $50,000 minimum for all of Merrill’s model portfolios except for the HNW product, which requires $1 million, according to a spokeswoman.
The latest expansion of the model portfolios offering comes just over two months before the last one, when portfolios from BlackRock, JPMorgan, Franklin Templeton and Natixis were added, adding even more choices for advisors seeking appropriate portfolios for their clients.
