Merrill Wealth Management and Bank of America Private Bank have unveiled the Alts Expanded Access Program, a fresh initiative in the private markets designed for ultra-high-net-worth (UHNW) individuals with assets exceeding $50 million.
Scheduled to go live in fall 2025, the program aims to expand on the firms’ existing alternative investment platforms, offering qualified investors broader opportunities to diversify portfolios through institutional-grade private market funds.
“Private alternatives were once reserved for institutional players. Today, however, more of our clients are exploring these avenues as markets shift and diversification becomes a stronger priority,” said Mark Sutterlin, Head of Alternative Investments at Merrill and Bank of America Private Bank.
According to BofA Private Bank’s latest research, alternative assets already account for 17% of UHNW Americans’ portfolios, and nearly 93% of them expect to boost allocations in the coming years.
Sutterlin emphasized that this launch reflects the firms’ ongoing effort to adapt to the increasingly complex financial objectives of wealthy clients.
Core Highlights of the Alts Expanded Access Program
- Exclusive opportunities: Focused on niche strategies, emerging themes, and evolving sectors not widely accessible.
- Advisor-led guidance: Clients’ advisory teams provide insights, materials, and structured recommendations.
- Client-driven model: Investors maintain control — conducting due diligence, making final decisions, and investing directly with fund managers.
