Merrill announced the launch of two new services, the Tax Efficient Transition Service and the Dollar Cost Averaging Service, that combine automation with professional portfolio oversight to help clients simplify asset transitions and cash deployment. Both services are available through the Merrill Lynch Investment Advisory Program and are implemented by Managed Account Advisors LLC, Merrill's centralized team that helps implement and manage portfolio solutions on behalf of clients and advisors. The Tax Efficient Transition Service is designed for clients who hold appreciated securities and want to move into a managed or custom managed investment strategy, providing a structured tax-efficient approach to transitioning assets over time while managing the realization of capital gains. The Dollar Cost Averaging Service is designed for clients who hold cash balances and want to gradually invest in a managed or custom managed investment strategy over a predetermined, client-selected schedule, helping reduce the impact of market volatility. Both services are optional and available to clients with no additional IAP Program Fees charged. Jay Link, Head of Fiduciary Programs and Platforms at Merrill, said the services help clients stay focused on their long-term financial goals, while John Capelli, Head of Managed Account Advisors at Merrill, said the new capabilities reflect the firm's continued focus on making it easier for advisors to implement personalized investment strategies at scale.
Bank of America CorpMerrill (Bank of America) launched two new automated portfolio services, the Tax Efficient Transition Service and Dollar Cost Averaging Service, expanding its advisory product offering.
