Bank of America Merrill Lynch and Virtuoso have announced a
partnership in which Merrill Lynch financial advisers will recommend Virtuoso
travel agents to their clients.
The relationship is part of Merrill Lynch Clear, a wealth-management
program that delves into clients’ priorities in how they would like to use
their retirement savings. For many clients, travel is a big part of their
plans.
Leisure travel is not Merrill Lynch’s core competency, so it
sought an expert where it could direct clients inclined to travel, said David
Tyrie, head of retirement and personal wealth solutions for Bank of America
Merrill Lynch.
He said that Virtuoso’s trademarked slogan: “Return on
Life,” fits with Merrill Lynch’s holistic strategy with Clear.
Merrill Lynch financial advisers will give interested
clients a list of Virtuoso agents. Virtuoso CEO Matthew Upchurch said that
participating Virtuoso agents have gone through a training program educating
them about the Clear program, to ensure that agents understand the Merrill
Lynch philosophy and customer, he said.
About 8,000 of Merrill Lynch’s 14,000 financial advisers are
participating in the Clear program, which launched in May.