Bank of America today announced findings from a new body of research on women and financial wellness, which finds that 94% of women believe they will be personally responsible for their finances at some point in their adult life. Despite this, about half of women (48%) feel confident about their finances and only 28% feel empowered to take action.
The study, which has been published in a new report titled 1. Bank of America offers institutional client employees a range of financial benefit programs to help them pursue their financial future, including our Financial Life Benefits® program. Financial Life Benefits offers a suite of workplace benefits and solutions designed to help meet the near- and long-term financial needs of employees. This complete offering brings together traditional financial benefits – including retirement plans 2, health savings 2, equity compensation 2 and non-qualified deferred compensation plans2 – with a range of banking and lending capabilities from Bank of America and investing capabilities from Merrill to help address employees’ financial needs more comprehensively.
Ipsos conducted a 21-minute online survey among a representative sample of more than 3,500 women and more than 1,200 men age 22+ in February 2022. Quotas were enforced to ensure results were representative within gender by age, race, income and assets, marital status, employment status, and education. Survey content was developed by Ipsos in consultation with the Bank of America team.
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
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Don Vecchiarello, Bank of America
Phone: 1.980.387.4899
don.vecchiarello@bofa.com
1 Source: Global Wealth and Investment Management Finance.
2 Investment products are available from Merrill Lynch, Pierce, Fenner & Smith Incorporated.
MAP# 4786086
Source: newsroom.bankofamerica.com
