Bank of America's Merrill investment advisory program has launched new income-focused portfolios specifically designed for retirees. These portfolios aim to provide predictable income over a 25-year period and are available for Merrill Guided Investing and Merrill Guided Investing with Advisor clients. Investors can choose from strategies such as stable income or income and growth, depending on their financial goals. To open an account, clients must have a minimum of $50,000 in assets. The portfolios are designed and managed by the chief investment office, with the goal of helping retirees control their income and provide flexibility as life changes occur [de16c564].
In addition, asset manager Invesco has partnered with Just Group to launch a retirement solution to meet the needs of "modern-day retirees". The solution combines Invesco's model portfolio services with Just Group's guaranteed income producing asset, known as Secure Lifetime Income. It will sit within existing Sipp drawdown wrappers and is expected to help advisers mitigate retirement risks. The offering comes in response to the FCA's thematic review of retirement income advice and at a time when millions are looking for new ways to invest their money and protect their income in retirement [d4281ee3].
Bank of America Finance LLC has also released an amended and restated pricing supplement for CUSIP 09711ATK4. The supplement provides updated information on fee-based advisory accounts, public offering price, principal amount of Notes, Contingent Coupon Payment, Observation Dates, Redemption Amount, Event of Default, and Underlyings such as NDX, RTY, and SPX. Investors interested in Bank of America Finance LLC's securities can refer to the official filing for more details [512aef7a].