U.S. Trust to Simplify Online Account Access
Technology upgrades will allow clients to manage multiple accounts with a single login.
FINANCIAL INSTITUTIONS OFTEN tout their integrated approach to wealth management, but for many of their customers, there’s nothing integrated about their account information. Seeing whether a check has cleared, making an online mortgage payment or transferring funds to a brokerage account can require customers to log in to multiple websites even when all of their accounts are with the same provider. To give clients a more integrated experience, Bank of America is investing in digital technology that allows clients to manage their banking and investing accounts without having to sign in to multiple platforms. For example, when upgrades to U.S. Trust’s digital account management platforms are completed in the first quarter of 2019, clients will be able to:
- View real-time balances for all their accounts (U.S. Trust, Merrill Lynch† and Bank of America) on every online and mobile platform across Bank of America.
- Navigate between U.S. Trust and Bank of America online and mobile platforms with a single login.
- Transfer money between U.S. Trust and Bank of America accounts through U.S. Trust Online.
“About 80% of U.S. Trust clients also have consumer banking relationships with Bank of America. Providing them a more holistic view of their banking and investing accounts can lead to a more fruitful collaboration with their U.S. Trust advisors,” says Kabir Sethi, head of Digital Wealth Management at Bank of America.
“An integrated view of clients’ financial lives helps their advisors spot issues and opportunities. It’s pretty simple: Better financial data can translate into better financial planning.”
† Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, Member SIPC, and other subsidiaries of Bank of America Corporation.
IMPORTANT INFORMATION
Investing involves risk. There is always the potential of losing money when you invest in securities. The information and views contained in this publication are for informational purposes only and do not provide investment advice or take into account your particular investment objectives, financial situations or needs and are not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument or strategy. Neither U.S. Trust, Bank of America Corporation nor any of its affiliates are responsible for this content, and before acting on any information in this material, you should consider whether it is suitable for your particular circumstances, liquidity needs, time horizon and risk tolerance and, if necessary, seek professional advice. Any opinions expressed herein are given in good faith, are subject to change without notice and are only correct as of the stated date of their issue. Projections made may not come to pass due to market conditions and fluctuations. Some of the featured participants are not employees of U.S. Trust. The opinions and conclusions expressed are not necessarily those of U.S. Trust or its personnel. Any of their discussions concerning investments should not be considered a solicitation or recommendation by U.S. Trust and may not be profitable.
Past performance is no guarantee of future results. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.
Any information presented about tax considerations affecting client financial transactions or arrangements is not intended as tax advice and should not be relied upon for the purpose of avoiding any tax penalties. Neither U.S. Trust and its representatives nor its advisors provide tax, accounting or legal advice. Clients should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with their personal professional advisors.
Always consult with your independent attorney, tax advisor, investment manager and insurance agent for final recommendations and before changing or implementing any financial, tax or estate planning strategy.