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An LMA account is a securities-based loan that can help you finance education expenses without
depleting your cash reserves or disrupting your investment strategy. An LMA account may help you
close the gap between your savings and a tuition bill.
The LMA account is a flexible line of credit offered by Bank of America, N.A. With an LMA account, you can use a broad range of eligible assets as collateral, while keeping your investment strategy on track.
More Information on LMA accounts
UNDERSTANDING RISKS ASSOCIATED WITH YOUR LMA ACCOUNT
Securities-based financing involves special risks. When considering a securities-based loan, you should take into account your individual requirements, portfolio composition and risk tolerance, as well as capital gains taxes, portfolio performance expectations and investment time horizon.
The risks you should be aware of include:
The Loan Management Account® (LMA® account) is provided by Bank of America, N.A., Member FDIC, Equal Opportunity Lender. The LMA account requires a brokerage account at Merrill Lynch, Pierce, Fenner & Smith Incorporated and sufficient eligible collateral to support a minimum credit facility size of $100,000. All securities are subject to credit approval and Bank of America may change its collateral maintenance requirements at any time. Securities-based financing involves special risks and is not for everyone. When considering a securities-based loan, consideration should be given to individual requirements, portfolio composition, and risk tolerance, as well as capital gains, portfolio performance expectations, and investment time horizon. The securities or other assets in any collateral account may be sold to meet a collateral call without notice to the client. The client is not entitled to an extension of time on the collateral call, and the client is not entitled to choose which securities or other assets will be sold. The client can lose more funds than deposited in such collateral account. A complete description of the loan terms can be found within the LMA agreement. Clients should consult with their own independent tax advisor. Some restrictions may apply to purpose loans, and not all managed accounts are eligible as collateral. All applications for LMA accounts are subject to approval by Bank of America, N.A. For fixed rate and term advances, principal payments made prior to the due date will be subject to a breakage fee.
Privacy & Security
Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.
Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.
Investment products, insurance and annuity products:
Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), a registered broker-dealer and Member Securities Investor Protection Corporation (SIPC), and other subsidiaries of Bank of America Corporation. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation.
Trust and fiduciary services are provided by Merrill Lynch Trust Company, a division of Bank of America, N.A. Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
MLPF&S and Merrill Lynch Trust Company make available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest, including BofA® Global Capital Management.
Banking products are provided by Bank of America, N.A., and affiliated banks, members FDIC and wholly owned subsidiaries of BofA Corp.
Bank of America, N.A., and Merrill Lynch Life Agency Inc. are wholly owned subsidiaries of Bank of America Corporation.