Why Us | Bank of America Merrill Lynch

Why Us

Three ways we offer value to you and your employees:


For You: Fiduciary Support and Service Excellence1

We bring all the resources and thought leadership from our enterprise to bear in helping you provide a strong, healthy and fully compliant program that runs smoothly, engages your employees and makes your job easier.

For Your Employees: An Unrelenting Focus on Financial Wellness

All our efforts revolve around helping your employees pursue better financial outcomes. Backed by an organization with a long legacy of service excellence, we take a holistic approach to helping your employees connect their life priorities and financial priorities—in and beyond their benefit plans.

For You and Your Employees: An Experienced Team

You and your employees will have a team of deeply experienced and passionate advocates for financial wellness on your side. Our team will make your priorities their own and help reduce your administrative burden so you can focus more on your business.
  • 2017 J.D. Power Certification5

    Recognized for providing an "Outstanding Customer Service Experience" for the 13th time in a row (2005-2017).

  • DALBAR 2016 Trends & Best Practices2

    Ranked #1 for Defined Contribution (DC) statement - 6th year in a row.

  • Dalbar's 2017 Webmonitor program3

    Benefits OnLine® has earned a designation of "excellent" for 35 consecutive quarters.5 BOL® Mobile also rated "excellent" for first semester 2017 in DALBAR's Mobile InSIGHT review.3

  • PLANSPONSOR 2016 DC Survey6

    Most "Best in Class" awards of any provider with 66 awards in both participant services and plan sponsor service categories.

  • NARPP's 2016 Participant Trust and Engagement Study1

    Rated nation's most trusted retirement plan provider and earned highest scores in participant trust, participant engagement, recordkeeper performance and participant financial courage

  • 2017 Stock Plan Administration Study7

    90% or higher overall satisfaction across all three studies

1 Findings from NARPP's Participant Trust and Engagement Study are based on interviews conducted in March 2016 by an online panel and include the responses of 5,092 randomly selected active retirement plan participants representing 18 recordkeepers. Three statistically valid indices were built from the groups of questions in the survey to measure recordkeeper engagement rating, recordkeeper performance rating (overall satisfaction, trust, partnership, communications) and participant financial courage (measurement of participants' financial state of mind). Bank of America Merrill Lynch earned the top score in all these categories and received the highest participant trust rating.
2 For the year ending 2016, DALBAR, Inc. examined defined contribution (DC) statements from 19 financial service providers, and total retirement (TR) statements from 4 financial service providers. Statements are scored on a 100-point scale in criteria grouped into four broad categories: Calculated to be Understood (Statement Clarity), Primary Content and Secondary Content (Statement Content), and Design and Statement Formats (Statement Design). Statements that earn 80–100 points are designated "excellent." Statements that earn 70–79 points are designated "very good." The DC statement earned a score of 90.40, the highest awarded in its category. The TR statement earned a score of 79.05, the second highest awarded in its category.
3 From April – June 2017, DALBAR,'s WebMonitor program examined websites offered by 29 Defined Contribution service providers. Websites are awarded a score from 0–100. Websites that earn 80–100 points are designated "excellent." Websites that earn 70–79 points are designated "very good." Merrill Lynch earned a score of 85.36, the fourth highest awarded in the Retirement (Defined Contribution) category. Since Q3-2008, Merrill Lynch's Benefits OnLine site has been awarded a DALBAR Designation of "Excellent."
4 DALBAR'S Mobile InSIGHT analyzes financial services firms' offerings and recognizes those who create a meaningful user experience fit for mobile consumption. From January – June 2017, DALBAR, Inc. examined mobile websites offered by 22 Defined Contribution service providers. Mobile sites are awarded a score from 0–100. Mobile sites that earn 80–100 points are designated "excellent." Mobile sites that earn 70–79 points are designated "very good." Merrill Lynch earned a score of 82.89 and an "excellent" rating.
5 The J.D. Power Certified Contact Center ProgramSM focuses on critical areas of customer satisfaction by rewarding best practices that are aligned with customer needs. To become certified for live phone interactions, a contact center operation must successfully pass a detailed audit and also perform within the top 20 percent of customer service scores, which are based on benchmarks established in J.D. Power's cross-industry customer satisfaction research. The evaluation criteria include the customer service representative's courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided, the ease of navigating the phone menu prompts and the ease of understanding the phone menu instructions. Certified as of November, 2017. J.D. Power 2017 Certified Contact Center ProgramSM recognition is based on successful completion of an audit and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/ccc.
6 Ratings were based on results from 4,819 plan sponsors that replied to the 2016 PLANSPONSOR Defined Contribution (DC) Survey questionnaire. 29 plan providers obtained the minimum required 35 survey responses to be considered for awards. "Best in Class" awards are given to the three highest scoring providers and all providers who scored higher than the required benchmark within each plan asset size: Micro (under $5 million); Small A ($5 million – $25 million); Small B (>$25 million – $50 million); Mid (>$50 million – $200 million); Large (>$200 million – $1 billion); and Mega (over $1 billion). Service commendations are awarded when more than 90% of a provider's clients are "completely" or "moderately" satisfied in that given category. PLANSPONSOR magazine, an Asset International, Inc. publication, is a leading authority on retirement issues and benefits programs. For additional details, please refer to the November 2016 issue of PLANSPONSOR Magazine or visit www.plansponsor.com.
7 Bank of America Merrill Lynch's satisfaction ratings in 2017 are based on based on a 71% response rate from 189 of 266 plan sponsors who use Partial Administration services, a 40% response rate from 80 of 199 plan sponsors who use Financial Reporting services and who participated in the Group Five Stock Plan Administration Benchmark Study. The study was conducted from May 2 to June 30, 2017. Top ratings indicate Bank of America Merrill Lynch is among the plan service providers who received the highest percentage of favorable ratings from clients. A favorable rating is a rating of 7, 8, 9 or 10 on a unilateral 11-point scale with 10 being completely satisfied and 0 being not at all satisfied. By surveying companies, employees and investors worldwide for 27 years, Group Five has become one of the most knowledgeable and independent sources for client satisfaction information in the shareholder service and stock plan industries.
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