Bank of America has announced the launch of a new workplace benefit program to help meet the near- and long-term financial needs of the employees of its corporate clients. The new offering will be available to large and mid-sized companies.
In partnership with Merrill financial advisors, the program called Financial Life Benefits brings together traditional financial benefits—including 401(k), health care, equity compensation and non-qualified deferred compensation plans—with a corporate employee banking and investing offering.
According to the announcement, expanded opportunities for advisors include:
- working with employees and offering personalized, in-person guidance to help them maximize their benefits and improve their financial wellness; and
- partnering with a network of client-facing professionals, or Employee Benefit Specialists, to bring the full range of financial benefits to new and existing clients.
“With this new solution, retirement and health care savings can be addressed alongside short-term financial needs, guided by financial education and professional guidance,”notes Lorna Sabbia, head of Retirement and Personal Wealth Solutions at Bank of America.
To learn more about the program, visit www.benefitplans.baml.com.
