Merrill and Bank of America Private Bank Launch AI-Powered Meeting Journey

Merrill Wealth Management and Bank of America Private Bank on Wednesday announced the full-scale rollout of AI-Powered Meeting Journey, a tool designed to streamline the entire lifecycle of client meetings for financial advisors.

The integrated solution combines three core capabilities: Meeting Prep, which automatically gathers client insights and recent activity into ready-to-use materials; Meeting Summarization, which with client consent acts as an AI notetaker during virtual meetings and generates shareable summaries; and Meeting Follow-Up, which turns notes into action items and documentation.

The new offering is part of Bank of America’s broader push to embed purpose-built artificial intelligence across its wealth management operations. The bank invests $13.5 billion annually in technology, with $4 billion allocated to new initiatives including AI. Early users of the prep and summarization features report significant workflow improvements, according to Shimna Sameer, Head of Products, Solutions & Platforms at Bank of America Private Bank.

Patricio Diaz, Chief Operating Officer at Merrill, said the AI-powered meeting journey represents a meaningful step forward for the wealth management industry, enabling advisors to redirect time toward strategic planning and client engagement. Diaz noted the capability can save advisors up to four hours per meeting across millions of meetings annually.

The launch builds on Bank of America’s decade-long investment in AI, which includes the Erica virtual assistant launched in 2018, now used in over 3.2 billion client interactions. Similar technology underpins the ask MERRILL and ask Private Banking tools for advisors.

Both executives emphasized that AI is intended to augment, not replace, the human advisor. “The role of the advisor will always remain central to the client relationship,” the company stated, adding that judgment, empathy, and personal connection cannot be automated.