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BofA’s Consumer Investments Surpasses $500 Billion in Assets as Clients Choose High-Tech, High Touch Approach to Managing Finances

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2 years ago

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Innovative investing platform and access to thousands of advisors helps investors with nearly 4 million accounts pursue their financial goals

CHARLOTTE, N.C., Jan. 10, 2025 /PRNewswire/ — Bank of America today announced its Consumer Investments business has grown to more than $500 billion in client assets, a more than 10-fold increase since the business started a decade ago. This includes nearly 4 million client accounts with Merrill Edge Self-Directed and Merrill Guided Investing, built on Merrill’s industry-leading technology and investment offerings.

“The launch of Merrill Edge over a decade ago solidified our competitive advantage enabling us to fully meet the banking, lending and investing needs of all 69 million consumer and small business clients,” said Aron Levine, President of Preferred Banking. “Together with Merrill and Bank of America Private Bank, we’re using the power of Bank of America to help clients build wealth and manage their entire financial lives.”

Consumer Investments clients have increasingly opted for managed account options based on their unique investment needs, reinforcing the high-tech, high-touch approach clients receive through the Merrill Edge platform and from more than 3,000 financial solutions advisors.

Financial solutions advisors are available across the bank’s network of more than 3,700 financial centers. The bank recently announced plans to expand it financial center network and completion of a multi-year renovation initiative to modernize its centers to create more spaces for nearly 10 million client appointments per year with financial specialists.

“Our high-tech, high-touch approach sets us apart and the number of Consumer Investments accounts has continued to increase every year as clients enjoy our advanced digital platform,” said Matt Gellene, Head of Consumer Investments and Employee Banking & Investments. “They also appreciate access to our financial specialists, with more than 80% of new accounts being opened after meeting with one of our Financial Solutions Advisors.”

Currently, 33% of all Consumer Investments accounts are held by Gen Z and Millennial clients, and these young adults represent over half (52%) of all Merrill Guided Investing accounts.

A recent report from Bank of America Institute found nearly three-in-five (58%) Gen Z and Millennials are teaching themselves how to invest. Other sources of investing knowledge include their parents (41%), financial professionals (28%), and learning in school (26%).

Industry-leading investment solutions

When launched in 2010, Merrill Edge Self-Directed gave Bank of America clients access to Merrill’s personalized guidance and exclusive tools. Since its launch, Merrill Edge Self-Directed has filled a gap in the marketplace, helping clients confidently put their investing ideas into action by offering personalized guidance, insights and tools such as:

Dynamic Insights, an AI-driven experience that sorts through the large quantity of data that is available to investors to create a personalized dashboard of timely, relevant market information and personalized portfolio insights based on each client’s unique investing style and preferences.Idea Builder, an AI-driven innovation that helps clients find, validate, and monitor their investing ideas. Whether clients are new to investing or more experienced, Idea Builder helps investors make more informed and confident investing decisions.

In 2017, Bank of America clients gained access to Merrill Guided Investing, a goals-based advisory program and one of the first online platforms to provide convenient digital access to investment strategies that are developed and managed by experts, rather than algorithms. Merrill has steadily invested in the platform, including rolling out Merrill Guided Investing with Advisor in 2019, which combines the digital platform with guidance from a financial solutions advisor.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC)popup and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation (“BofA Corp.”).

Are
Not FDIC Insured

Are Not Bank Guaranteed

May Lose Value

Are Not Deposits

Are Not Insured by Any Governmental
Agency

Are Not a Condition to Any Banking Service or
Activity

Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation (BofA Corp.).

“Bank of America” is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is registered as a futures commission merchant with the CFTC and is a member of the NFA.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact:

Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com

 

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SOURCE Bank of America Corporation

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Elementix and Lightning Docs Announce Reporting Partnership to Deliver Industry-Comprehensive Data on Business-Purpose Lending

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53 minutes ago

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October 27, 2026

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Each company’s monthly report will draw on shared recorded transaction data and loan-level document data, giving lenders, brokers, and investors a more complete view of current bridge, fix-and-flip, construction, and DSCR lending.

IRVINE, Calif., Oct. 27, 2026 /PRNewswire/ — Elementix, a leading provider of aggregated data on business-purpose lending, and Lightning Docs, the premier loan document automation platform for private lenders, Non-QM lenders, credit unions, and law firms, today announced a data-sharing partnership to strengthen reporting on the business-purpose lending market.

The partnership brings together two complementary datasets. Elementix aggregates recorded real estate transactions nationwide, including mortgages, deeds, satisfactions, assignments, and preforeclosure filings, providing a comprehensive picture of lender activity, loan volume, and market share. Lightning Docs captures loan-level terms at the point of document generation, including interest rates, loan amounts, and loan structures, from a document automation platform used by 60% of the nation’s top 50 private lenders. Combined, the two sources produce a level of coverage and detail that has been unprecedented in the private lending space.

“Private lending has long been an opaque industry, with limited data on interest rates, loan amounts, geographic trends, and other metrics that are vital to running a profitable operation,” said Nema Daghbandan, CEO of Lightning Docs. “Lightning Docs set the standard for monthly private lending market reporting, and this partnership raises it. By pairing our loan-level data with Elementix’s transaction data, we are delivering reporting with the scale, precision, and depth the market has been missing, and providing lenders, brokers, and investors a clearer view of the industry than they have ever had before.”

Each report, delivered at a regular monthly cadence, will cover bridge, fix-and-flip, ground-up construction, and DSCR loans, with aggregated data on interest rates, loan amounts, loan volume, lender activity, geographic trends at the state and regional level. All data will be aggregated and anonymized, with no borrower- or lender-specific loan terms disclosed.

“Managing risk in private lending starts with understanding the borrower and the broader market, yet lenders often have to make decisions with incomplete information. Elementix was built to help lenders understand that risk through public record data, and partnering with Lightning Docs adds the loan-level detail that completes the picture. Together, we’re helping lenders better understand market conditions and bring that context into how they assess and manage risk,” said Cameron Kelliher, founder and CEO of Elementix.

The first joint report is scheduled for release in November 2026. Reports will be published on the Lightning Docs and Elementix websites and distributed to subscribers of both companies.

About Elementix
Elementix is the borrower intelligence platform for private lenders. It helps lenders identify active investors, verify experience for better credit decisions, and reach decision-makers with leading contact data accuracy. For more information, visit www.elementix.com.

About Lightning Docs
Initially developed by nationally recognized private lending attorneys, Lightning Docs is the industry’s leading automated loan document software for lenders who make business-purpose loans. The platform instantly produces attorney-grade, compliant loan documents across all 50 states. It covers every business-purpose loan type, including short-term bridge and fix-and-flip loans, 30-year DSCR rental loans, ground-up construction, and complex modifications. Lightning Docs is the official loan document software of the American Association of Private Lenders®. More than 60% of the nation’s top 50 private lenders use it, along with many of the country’s largest Non-QM lenders. Since 2018, lenders have originated more than $100 billion using Lightning Docs. For more information, visit www.lightningdocs.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/elementix-and-lightning-docs-announce-reporting-partnership-to-deliver-industry-comprehensive-data-on-business-purpose-lending-302921069.html

SOURCE Lightning Docs LLC

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Therap Services Enhances Therap Connect with Personalized Sleep Insights for Human Services Providers

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53 minutes ago

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October 27, 2026

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TORRINGTON, Conn., Oct. 27, 2026 /PRNewswire/ — Therap Services, the national leader in HIPAA-compliant electronic documentation solutions for Intellectual and Developmental Disabilities (IDD), Home and Community-Based Services (HCBS), and Long-Term Services and Supports (LTSS) industries, has introduced advanced Personalized Sleep Insights to its Therap Connect platform. This enhancement integrates ambient room monitoring with sleep tracking data to help care teams understand and optimize environmental factors affecting the sleep quality of individuals.

Understanding Environmental Factors for Better Rest

Tracking overnight sleep patterns is vital for maintaining physical health, emotional well-being, and individual safety. The updated Therap Connect module introduces a ‘Personalized Sleep Insights’ feature that evaluates three months of historical data from Withings sleep monitors and Watchdog room sensors. By evaluating sleep start times alongside ambient room temperature and humidity, the system highlights optimal environmental conditions to support healthier sleep habits and proactive care planning.

Streamlined Platform Workflows and Daily Tracking

Designed for ease of use, this update helps teams manage daily monitoring more efficiently. Staff can quickly review overnight alerts directly on dashboard views, manage notification settings in one place, and conveniently copy form details with a single click. These practical updates save time on routine administrative tasks, allowing care managers and staff to focus on monitoring health parameters.

Frequently Asked Questions (FAQs)

Does Therap Connect offer sleep tracking capabilities? 

Yes. Therap Services provides integrated sleep and health tracking through Therap Connect, combining continuous sensor data with daily documentation tools.

How do Personalized Sleep Insights in Therap Services help human services providers?

It analyzes sleep schedules, room temperature, and humidity data to identify optimal sleep environments, helping care teams make data-informed adjustments to support health outcomes.

Does Therap Connect require extra software for sleep tracking? 

No. Therap Connect operates through its own dedicated, secure web-based portal, allowing teams to access environmental and sleep tracking insights natively without installing third-party software.

For more information about Therap Connect, please visit: https://www.therapconnect.net/

About Therap Services

Therap Services provides HIPAA-compliant software for documentation, communication, reporting, EVV, and billing.

Learn more: https://www.therapservices.net/

View original content:https://www.prnewswire.com/news-releases/therap-services-enhances-therap-connect-with-personalized-sleep-insights-for-human-services-providers-302921017.html

SOURCE Therap Services

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Meet Providi: One Company Behind Cerbo and OptiMantra

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53 minutes ago

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October 27, 2026

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The new name reflects a long-term commitment to the cash-pay personalized care market, where Cerbo and OptiMantra keep their brands and together serve nearly 7,000 clinics.

ATLANTA, Oct. 27, 2026 /PRNewswire/ — Providi launched today as the corporate brand of the company behind Cerbo and OptiMantra, two long-standing products in the cash-pay personalized care market. The companies combined in 2025, backed by a growth investment from Mainsail Partners. Cerbo and OptiMantra will continue as product brands within Providi.

Together, the two providers of electronic health record (EHR) and practice management products support nearly 7,000 clinics. These include functional, integrative, longevity, wellness, direct primary care, concierge, med spa and behavioral health practices. Both have served the market since 2011.

The name Providi combines “provi,” for the provider at the center of every practice, with “vidi,” Latin for “I saw.” It stands for a company that starts with the provider and can see where personalized care is going.

Providi’s mission is to empower personalized care providers to deliver better patient outcomes and create thriving practices. That mission is already shaping the product roadmap. With the Cerbo and OptiMantra teams building together, new capabilities reach providers faster, and AI Scribe is the first example. Available now, Cerbo AI Scribe captures visit notes automatically, so providers spend less time charting between visits or after hours. OptiMantra AI Scribe, built on lessons from the Cerbo launch, is coming to OptiMantra providers soon.

“Personalized care providers built this market one practice at a time, each one designed around the time, attention and care they believe every patient deserves,” said Jeff Hindman, CEO of Providi. “Cerbo and OptiMantra have each earned the trust of thousands of practices, and Providi exists to amplify that work. Coming together as one company accelerates the innovation we can bring to market and enables us to invest more in both products. Our focus remains giving the providers already running our products and the new providers entering the market the technology they need to succeed.”

Providers can expect to log in to the same Cerbo and OptiMantra products, reach out to the same reps and receive support, onboarding and product updates the same way they do today. They will start to see the Providi name at combined events and in company communications, and they’ll feel it in their products: two teams sharing what they learn, active investment in both products and new capabilities reaching their practices sooner.

About Providi

Providi is the company behind Cerbo and OptiMantra, two electronic health record (EHR) and practice management products serving the cash-pay personalized care market. Together, Cerbo and OptiMantra support nearly 7,000 clinics in functional, integrative, longevity, wellness, direct primary care, concierge, med spa and behavioral health. Providi is committed to meeting the specialty workflow needs of these practices and continues to invest in both products to help providers achieve better patient outcomes, grow their practices and operate more efficiently. For more information, visit providico.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/meet-providi-one-company-behind-cerbo-and-optimantra-302921038.html

SOURCE Providi

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