Merrill Wealth Management and Bank of America Private Bank announced the launch of the Alts Expanded Access Program, a new private markets program available to clients with a net worth of $50 million or more.
Available in fall 2025, the program is designed to complement the investment options offered through the main alternative investments platform of both firms, offering qualified investors new avenues to build an expanded allocation to alternatives as part of a diversified portfolio, according to the press release.
“Traditionally, private market alternatives were the domain of institutional investors, but as wealth-building needs have evolved, we are seeing more clients seek non-traditional investments, driven by market shifts and the desire for diversification,” said Mark Sutterlin, head of alternative investments for Merrill and Bank of America Private Bank.
Alternative investments currently comprise 17% of the portfolios of UHNW Americans, and 93% plan to increase their allocation to alternatives in the coming years, according to a study conducted by BofA Private Bank last year.
“This program is part of our broader commitment to meeting the changing needs of UHNW clients with increasingly complex financial goals,” Sutterlin added.
Key Features of the Alts Expanded Access Program
Selective access: These funds are not broadly distributed and provide access to specialized opportunities in emerging themes, niche strategies, and evolving sectors.
Advisor-supported recommendation: The client’s advisor or team helps guide them through the process and provides access to fund manager materials.
Client-driven: Clients conduct due diligence, make investment decisions, and invest directly with fund managers.
