Bank of America to add Merrill Edge offices, advisers

(Reuters) – Bank of America Corp said on Thursday it will grow its wealth management offering for mainstream investors by opening 600 new Merrill Edge centers and adding 300 new brokers in the next two years.

A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo Allegri

Merrill Edge is a division of the bank that serves clients with $250,000 or less. Launched in 2010, the division now has $184.5 billion in assets under management and 2.4 million accounts.

The new brokers, called financial solutions advisers, will bring the total to roughly 4,000.

The 600 new Merrill Edge offices will be opened in existing Bank of America branches and new ones in cities like Cleveland, Indianapolis and Lexington, Kentucky.

“Our goal is to serve our clients in ways most convenient to them, and we have both the brick and mortar and the digital presence to do that,” Aron Levine, head of Merrill Edge, said in a statement.

Editing by David Gregorio