Merrill Lynch, Pierce, Fenner & Smith Incorporated
Managed Account Advisors (MAA) and Merrill Lynch provide investment advisory services to Bank of America for its Select Portfolio Solutions (SPS) program. The program offers managed investment strategies selected by the bank to help clients meet their investment goals. MAA implements the strategies, while Merrill provides investment recommendations. Clients must have an investment management or trust relationship with Bank of America to participate.
Fee Structure
The program's fees consist of two parts: the fee you pay to Bank of America for its services, and a fee for the specific investment strategy you choose. The strategy fee, called the Style Manager Expense, generally ranges from 0.00% to 0.50% of your assets annually. Clients investing in strategies managed by related entities will not be charged a Style Manager Expense.
