Bank of America launches private markets investment program for ultra-high-net-worth clients with a net worth of $50M or more.

Bank of America's Private Bank and Merrill Wealth Management are introducing a private market program called Alts Expanded Access for ultra-high-net-worth clients with a net worth of $50M or more. The program will offer investment opportunities in private markets, such as real estate and private equity.

Bank of America's Private Bank and Merrill Wealth Management have announced the launch of the Alts Expanded Access Program, a new private market initiative designed for ultra-high-net-worth (UHNW) clients with a net worth of $50 million or more. The program, set to debut in fall 2025, complements existing alternative investment options and provides access to specialized opportunities in private markets such as real estate and private equity.

Mark Sutterlin, head of alternative investments for Merrill and Bank of America Private Bank, highlighted the evolving needs of UHNW clients, stating, "Traditionally, private market alternatives were the domain of institutional investors, but as wealth building needs have evolved, we’re seeing more clients seek non-traditional investments, fueled by market changes and the desire to diversify" [1].

Key features of the Alts Expanded Access Program include selective access to specialized funds, supported recommendations from clients' advisors, and client-directed investment decisions. Clients will conduct due diligence, make investment decisions, and invest directly with fund managers.

The program builds on the success of other UHNW capabilities, such as Premium Access Strategies, which has grown to over $60 billion in client assets in under three years [2].

The Alts Expanded Access Program is part of Bank of America's broader commitment to meet the evolving needs of UHNW clients with increasingly complex financial goals.

References:
[1] https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/09/merrill-and-bank-of-america-private-bank-launch-new-alternative-.html
[2] Bank of America Investment Solutions Group, August 25, 2025