The company is creating a new team of specialists to better connect advisors and their rich clients with other parts of Bank of America.

BofA said yesterday that Merrill has introduced an ultra-high-net-worth advisory group to enhance service for clients with substantial assets. The 25-person group will collaborate with advisors to provide personalized wealth and investment solutions tailored to the complex needs of ultra-high-net-worth clients.

Industry experts say the new team of 25 investment specialists seems designed to tackle the more esoteric aspects of working with wealthy clients and leave asset gathering and relationship management to advisors.

Roughly two dozen specialists to support Merrill Wealth Management advisors on alts, custom asset allocation, specialized lending, and more complex services for elite clients.

Merrill Wealth Management announced the launch of its Ultra-High-Net-Worth (UHNW) Advisory Group, a team of more than 25 Merrill specialists.

Bank of America Corp. created a group of specialists that cater to the ultra-wealthy, looking to capitalize on the growing ranks of super rich clients needing complex financial products and advice.

The new group will help advisors build tailored portfolios for clients with custom asset allocation and multi-asset strategies.