Bank of America Merrill Lynch Enhances
Retirement Plan Solutions for Small Businesses
Merrill Lynch Financial Advisors Utilize New Advisor Alliance Capabilities to Help Ensure Retirement Plans
Align to Small Business Owner Needs
June 03, 2010 09:03 AM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Bank of America Merrill Lynch today introduced enhancements to
its small business retirement plan platform, MLConnect®, to more closely align with small business owners’ evolving
challenges and priorities. Newly renamed Advisor Alliance™, since its launch in 2001 the platform has provided
small and mid-sized business clients with a unique combination of Merrill Lynch investment services and affordable
recordkeeping and retirement plan administration services from a diverse selection of preferred alliance partners.
One of the largest and most successful benefit plan platforms of its kind, Advisor Alliance today serves more than
900,000 individuals from more than 40,000 businesses, representing more than $23 billion in retirement plan assets.
Often viewed as the backbone of the U.S. economy, small businesses are responsible for much of the nation’s
vitality, ingenuity and new job creation. However, many were hit particularly hard by the recent recession. An April
2010 Merrill Lynch Affluent Insights Quarterlysurvey recently examined the values, priorities and concerns of affluent
investors and small business owners and found that 75 percent of investors believe small businesses will be a key
driver of economic recovery. Across the enterprise, Bank of America is committed to serving the broad financial
needs of small businesses.
“The latest affirmation of our commitment to small business owners centers on improvements to our retirement
solutions,” said Andy Sieg, head of Retirement and Philanthropic Services for Bank of America Merrill Lynch.
“Advisor Alliance offers these owners a more flexible, personalized suite of retirement plan and investment services
designed to help them