Bank of America & Merrill Launch Exclusive Private Market Access for Ultra-Wealthy Clients
September 5, 2024 | by priyashah, World-Today-News.com
Bank of America and Merrill are doubling down on serving the investment needs of the ultra-wealthy, announcing the launch of the “Alts Expanded Access Program” this fall. The initiative will provide exclusive access to private market investments for clients with a net worth of $50 million or more.
Traditionally the preserve of institutional investors, private market alternatives – encompassing investments like venture capital, private equity, and real estate – are increasingly sought after by high-net-worth individuals looking to diversify their portfolios and capitalize on emerging opportunities.
“as wealth building needs have evolved, we’re seeing more clients seek non-customary investments, fueled by market changes and the desire to diversify,” explained Mark Sutterlin, head of alternative investments for Merrill and Bank of America Private Bank, in a press release. The program aims to unlock access to “specialized opportunities in emerging themes, niche strategies and evolving sectors” not typically available through public markets.
