Merrill Wealth Management and Bank of America Private Bank have announced the introduction of the Alts Expanded Access Program, a new private market investment program for ultra-high-net-worth clients with at least $50 million in net worth. The program will be available starting in fall 2025.
The Alts Expanded Access Program is designed to broaden the alternative investment options for qualified investors, building on the core Alternative Investments platform offered by both Merrill and Bank of America Private Bank. According to Mark Sutterlin, head of alternative investments for Merrill and Bank of America Private Bank, “Traditionally, private market alternatives were the domain of institutional investors, but as wealth building needs have evolved, we’re seeing more clients seek non-traditional investments, fueled by market changes and the desire to diversify.”
The program offers selective access to funds that are not widely distributed and provide opportunities in emerging themes, niche strategies, and evolving sectors. Clients will receive support from their advisors or teams in understanding the process and accessing fund manager materials. However, investment decisions remain client-directed; clients are responsible for conducting due diligence and investing directly with fund managers.
Insights from the 2024 Bank of America Private Bank Study of Wealthy Americans show a rising interest in alternative investments among high-net-worth individuals. Alternatives currently make up 17% of their portfolio allocations, with 93% planning to increase their allocation to alternatives in the future. Sutterlin added, “This program is part of our broader commitment to meet the evolving needs of UHNW clients with increasingly complex financial goals.”
The launch builds on other offerings aimed at ultra-high-net-worth clients, such as Premium Access Strategies—a dual-contract investment advisory program that has grown to over $60 billion in client assets in less than three years.
Bank of America serves approximately 69 million consumer and small business clients through its network of retail financial centers and ATMs across the United States. The company is listed on the New York Stock Exchange under BAC.
For further information about these services or differences between brokerage and investment advisory services offered by Merrill and Bank of America Private Bank, clients are encouraged to consult their advisors.
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