Merrill Wealth Management and Bank of America Private Bank (NYSE:BAC) are shaking things up for their wealthiest clients. On Thursday, the firms introduced the Alts Expanded Access Program, designed for ultra-high-net-worth (UHNW) clients with at least $50 million in net worth, which provides entry into selective private market funds once reserved for institutions.
Set to launch in the fall of 2025, the program will allow clients to explore niche and emerging strategies, with their advisors helping them navigate fund materials while leaving final decisions in the investors’ hands.
