Expanded Loyalty Program Provides Ultra
High-Net-Worth Clients Access to World-Renowned Locations
NEW
YORK, June 21, 2022 /PRNewswire/ -- Bank of
America today announced the availability of exclusive travel
experiences for ultra-high-net-worth clients through Indagare, a
members-only, boutique travel-planning company. The relationship
offers clients, including Merrill and Private Bank clients,
behind-the-scenes access to unforgettable locations, as well as
unique virtual experiences.
"We are always looking for new ways to reward our clients who
have built a deep relationship with us," said Andy Sieg, president of Merrill Wealth
Management. "Indagare enables us to deliver one-of-a-kind
adventures and to take the benefits of Bank of America Preferred
Rewards membership to the next level with memorable
experiences."
This relationship with Indagare was formed as part of the most
recent enhancements to Bank of America's Preferred Rewards program,
which has nearly 10 million members and offers benefits and perks
based on a client's overall relationship with Bank of America and
Merrill. The company recently unveiled two new program tiers for
high-net-worth and ultra high-net-worth clients. Indagare travel
experiences are available exclusively to Diamond Honors
members—clients with $10 million and
more across their Bank of America banking and Merrill investing
balances. Qualified clients can register for these unique
experiences through their Merrill or Private Bank advisor teams, or
by visiting the Preferred Rewards page for Diamond and Diamond
Honors members.
"Our clients often share their passion for travel with us, and
the desire to fill their leisure time in meaningful ways," said
Katy Knox, president of The Private
Bank. "Through this new relationship, we're helping clients create
unforgettable experiences and life-long memories with their
families and loved-ones."
According to new data from The Bank of America Institute,
despite challenges from higher inflation, households continue to
spend at a healthy pace, with spending on services such as travel,
leisure and entertainment continuing to grow year-over-year. Growth
in airline spending by higher income earnings is particularly
strong, up more than 50% year-over-year in May 2022, due to pent-up demand for travel and
entertainment services1.
"We are thrilled to be associated with the category leading
Preferred Rewards program to bring these extraordinary travel
experiences to Bank of America clients," said Melissa Biggs Bradley, Founder and CEO of
Indagare. "Each one has been designed to unlock special access
and offer unique perspectives that surprise and delight—and
redefine the way we experience the world and our place in it."
Indagare experiences transport Bank of America clients to
incredible settings around the world—either in person or virtually.
For examples:
- The ultimate Napa Valley trip,
a celebration of the very best of the region, including the chance
to meet the Harlan family and to tour their renowned properties in
their company, over the course of four days —it's an opportunity
rarer than a bottle of Harlan Estate 2015, one of the eight Harlan
releases to have received a perfect 100-point score from
Robert Parker.
- "The Best of Private Paris" offers the chance to see numerous
hidden treasures—monuments, private homes, artists' studios, and
more—in the company of the owners, designers and tastemakers in
charge of overseeing and protecting them. The trip culminates in a
stay in a newly renovated historic building at Versailles—the first
hotel ever to be located on the grounds of Louis XIV's monumental
estate—complete with private tours of rarely visited spaces and
gastronomic feasts created by Alain
Ducasse.
- An unforgettable discovery of Jordan with an epic private tour of Petra at
night (the guests will have this Wonder of the World exclusively to
themselves); a tour of the spectacular Jordan Museum with its
award-winning architect; a private concert in the ancient Roman
amphitheater at Jerash; and more.
- Virtual experiences include an exclusive preview of
Charleston's much-anticipated
International African American Museum with the museum's CEO; a tour
of legendary designer Bunny
Williams' Connecticut
garden, led by Williams herself; and a tour of Angkor Wat led by
the architect preserving the historic site. Each attendee receives
an exclusive complimentary gift to accompany the experience.
Indagare
Indagare is a members-only boutique
travel-planning company that inspires and empowers people to change
their lives and positively impact the world through travel. The
company offers curated content, customized trip-planning and small
group trips around personal passions, helping members realize their
travel visions by designing unforgettable itineraries and by
unlocking behind-the-scenes access and perks they can't find
anywhere else—and delivering them in-person and across digital,
video, social, print and partnerships. Founded by top travel expert
Melissa Biggs Bradley, Indagare
leverages its global network to create extraordinary experiences
and a lifetime of meaningful journeys for sophisticated travelers,
influencers and opinion leaders who crave new experiences and care
deeply about how travel shapes their legacy. #howyoutravelmatters
For more information, visit indagare.com.
Bank of America
Bank of America is one of the world's leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving
approximately 67 million consumer and small business clients with
approximately 4,100 retail financial centers, approximately 16,000
ATMs, and award-winning digital banking with approximately 54
million verified digital users. Bank of America is a global leader
in wealth management, corporate and investment banking and trading
across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of
America offers industry-leading support to approximately 3 million
small business households through a suite of innovative,
easy-to-use online products and services. The company serves
clients through operations across the
United States, its territories and approximately 35
countries. Bank of America Corporation stock (NYSE: BAC) is listed
on the New York Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom and register for news email alerts.
To enroll in the Preferred Rewards program, you must have an
active, eligible personal checking account with Bank of America®
and maintain the balance required for one of the balance tiers in
your combined qualifying Bank of America deposit accounts (such as
checking, savings, certificate of deposit) and/or your Merrill
investment accounts (such as Cash Management Accounts, 529 Plans).
You can satisfy the combined balance requirement for enrollment
with either:
- a three-month combined average daily balance in your qualifying
deposit and investment accounts or
- a current combined balance, provided that you enroll at the
time you open your first eligible personal checking account and
satisfy the balance requirement at the end of at least one day
within 30 days of opening that account.
You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier,
$1,000,000 for the Diamond tier and
$10,000,000 for the Diamond Honors
tier. Bank of America Private Bank clients qualify to enroll in the
Diamond tier and may qualify for the Diamond Honors tier based on
their qualifying Bank of America, Merrill, and Private Bank
balances. Refer to your Personal Schedule of Fees for details on
accounts that qualify towards the combined balance calculation and
receive program benefits. Eligibility to enroll is generally
available three or more business days after the end of the calendar
month in which you satisfy the requirements. Benefits become
effective within 30 days of your enrollment, or for new accounts
within 30 days of account opening, unless we indicate otherwise.
Certain benefits are also available without enrolling in Preferred
Rewards if you satisfy balance and other requirements.
Bank of America, Merrill, its affiliates, and financial advisors
do not provide legal, tax, or accounting advice. You should consult
your legal and/or tax advisors before making any financial
decisions.
Banking products are provided by Bank of America, N.A., Member
FDIC and a wholly owned subsidiary of Bank of America
Corp.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also
referred to as "MLPF&S" or "Merrill") makes available certain
investment products sponsored, managed, distributed or provided by
companies that are affiliates of Bank of America Corporation ("BofA
Corp."). MLPF&S is a registered broker-dealer, registered
investment adviser, Member SIPC and a wholly owned
subsidiary of BofA Corp.
Reporters May Contact:
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
Andrew.aldridge@bofa.com
Julia Ehrenfeld, Bank of
America
Phone: 1.646.855.3267
Julia.ehrenfeld@bofa.com
1 Higher income earnings are those households with
annual income >$125K
View original content to download
multimedia:https://www.prnewswire.com/news-releases/indagare-offers-luxury-travel-experiences-to-bank-of-america-clients-301571978.html
SOURCE Bank of America Corporation