(From investmentnews.com) Merrill Lynch Global Wealth Management last week unveiled a training program to help its 15,000 financial advisers develop a retirement income program for their clients.
As part of the program, the firm has announced a service that will allow its wealth management clients with at least $250,000 in assets to transfer funds from their Merrill Lynch & Co. Inc. cash management account into a Bank of America Corp. deposit account on a periodic basis to facilitate their retirement income stream.
Using the service, clients can access their retirement income at a BofA ATM or office. Merrill Lynch advisers will also be able to track their retiree clients' spending habits.
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