Managed Account Advisors (MAA) and Merrill Lynch provide investment advisory services to Bank of America clients through the Select Portfolio Solutions (SPS) program. The program offers various managed investment strategies (Strategies) constructed or managed by investment managers (Style Managers), including third parties and affiliates. MAA implements the Style Manager's recommendations, while Merrill provides certain managed investment strategies. The Bank administers the program and provides client service.
Fee Structure
The program's account fee consists of two parts: the fee you pay to Bank of America for its services, and the Style Manager Expense, if applicable. The Style Manager Expense generally ranges from 0.00% to 0.50%. Clients that invest in a Related Strategy will not be charged a Style Manager Expense. The account fee is payable in advance and is based on the value of assets in your account.