Bank of America Merrill Lynch is Now Bank of America & BofA Securities (2024)

FAQs

Is there a difference between Bank of America and Bank of America Merrill Lynch? ›

What Is Merrill Lynch & Co.? Merrill Lynch & Co. is the former name of a prominent Wall Street investment firm. Since its acquisition by Bank of America (BAC) in 2009, it has become known simply as “Merrill” and operates as a wealth management division of Bank of America.

BofA Securities, Inc., previously Bank of America Merrill Lynch (BAML), is an American multinational investment banking division under the auspices of Bank of America. It is not to be confused with Merrill, the stock brokerage and trading platform subsidiary of Bank of America. Merrill Lynch & Co.

Post-merger with Bank of America

After merging Merrill Lynch into its businesses, Bank of America continued to operate Merrill Lynch for its wealth management services and integrated Merrill Lynch's investment bank into the newly formed BofA Securities.

The investment bank and capital markets business is ditching the 104-year old name to become BofA Securities and its wealth management businesses will collectively be called "Merrill," without the Lynch.

The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan.

Bank of America changed its name in 1930. Formerly known as Bank of Italy, they had the vision to once be the owners of financial centers across the whole nation. The name change helped because by 1945 Bank of America became the largest bank in the world.

BofA Securities, Inc. operates as a brokerage firm. The Company offers buying and selling of securities including stocks, bonds, mutual funds, and certain other investment products, as well as provides strategic advice, working capital, transaction, and fraud and cyber security solutions.

Bank of America is still called Bank of America, and the company's full name is Bank of America Corporation. The modern Bank of America Corporation was formed when BankAmerica was acquired by Nations Bank in 1998, though parts of the company date back over 200 years.

Bank of America

Banc of America Securities / Parent organization

Oftentimes when advisors speak with consultants, they are so exhausted with all the red tape that they simply want a way out as fast as can be arranged. Clients are advised to brace for a shift towards automation and interactions with artificial intelligence as the firm embarks on a digital trajectory.

Who owns Merrill Lynch now? ›

Bank of America

Merrill / Parent organization

Bank of America Merrill Lynch is Now Bank of America & BofA Securities.

Merrill Lynch & Co., formally Merrill Lynch, Pierce, Fenner & Smith Incorporated, was a publicly-traded American investment bank that existed independently from 1914 until January 2009 before being acquired by Bank of America and rolled into BofA Securities. Merrill Lynch & Co., Inc.

On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini's old bank— #13044. When A.P. Giannini died in 1949, the former single-teller office in North Beach claimed more than 500 branches and $6 billion in assets.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) is a registered broker-dealer, registered investment advisor, Member SIPC and wholly owned subsidiary of BofA Corp.

Merrill Lynch makes available products and services offered by MLPF&S and other subsidiaries of Bank of America Corporation (“BofA Corp”). MLPF&S is a registered broker-dealer, registered investment adviser and Member SIPC.

Bank of America is still called Bank of America, and the company's full name is Bank of America Corporation. The modern Bank of America Corporation was formed when BankAmerica was acquired by Nations Bank in 1998, though parts of the company date back over 200 years.

Merrill Edge is a good choice for long-term investors, especially those who already have an account with Bank of America. The Preferred Rewards program offers discounts and perks that increase with your balance—so you could benefit by having deposit and investment accounts under the same roof.

Bank of America Corporation (Bank of America or the Corporation) is a Delaware corporation, a bank holding company and a financial holding company under the Gramm-Leach-Bliley Act. Our principal executive offices are located in the Bank of America Corporate Center, Charlotte, North Carolina 28255.