US-based Merrill Wealth Management and Bank of America Private Bank have launched the Alts Expanded Access Program, a new private market program available to ultra-high-net-worth clients with a net worth of USD 50m or more, the firms said.

Available in fall 2025, the program is designed to complement the investment options available through Merrill's and Bank of America Private Bank's core Alternative Investments platform, offering qualified investors avenues to build an expanded allocation to alternatives as part of a diversified portfolio.

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.

Supported recommendation: Clients' advisor or team helps them understand the process and provides them with access to fund manager materials.

Client-directed: Clients conduct due diligence, make investment decisions, and invest directly with fund managers.

Insights from the 2024 Bank of America Private Bank Study of Wealthy Americans underscore the growing interest in alternatives, particularly among young HNW investors:

Alternatives comprise 17% of their current portfolio allocations.

93% plan to increase their allocate to alternatives in the coming years. 1

The new offering builds on the successful launch of other UHNW capabilities, such as Premium Access Strategies 2, a dual-contract investment advisory program that has grown to over USD60 bn in client assets 3 in under three years.

Bank of America (NYSE: BAC) is a financial institutions serving individual consumers, small and middle-market businesses and large corporations with a range of banking, investing, asset management and other financial and risk management products and services.

The company provides convenience in the United States, serving approximately 69 m consumer and small business clients with 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 m verified digital users.

Bank of America is 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.