Law Firms

Lending new ideas and best practices to the legal field

Today's competitive legal field is finding more law firms seeking domestic or global expansions, better operational efficiencies, and new strategies for attracting and retaining key employees. At Bank of America Merrill Lynch, specialized client service teams dedicated to the legal profession are here to help you retain your competitive edge. By bringing new ideas and best practices, together with innovative financial solutions, to address the unique goals of your law firm, its partners and associates.

Offering the benefits of a dedicated client service team

Your relationship with Bank of America Merrill Lynch offers you the guidance of a dedicated client manager who specializes in law firm banking. Leading a team of banking professionals throughout Bank of America Merrill Lynch, your client manager is committed to leveraging the organization's full enterprise-wide capabilities to deliver innovative financial solutions tailored to your law firm, your attorneys and your valued employees.

From optimizing cash flow to upgrading employee benefits, Bank of America Merrill Lynch brings fresh insights and practical advice to help you anticipate possibilities, take on challenges and pursue the evolving opportunities of practicing law. 

Your dedicated client manager can help you access various financial solutions and strategies for raising new capital, maximizing working capital and improving your cash flow. 

Featuring:

• Loans and lines of credit — short- and long-term financing options to help fund business expansions, strategic purchases and other enhancements

• Equipment financing — efficient leasing and financing solutions that may allow you to update old technology, replace worn assets or add new equipment to expand your capabilities

• Business credit cards — tailored solutions designed to make your payments processing more efficient, cost-effective  and visible

• Cash management solutions — cash consolidation and investing accounts structured to enhance working capital and put your excess cash to work for you

Whether it's making the transition to electronic payments or protecting your firm's online transactions, Bank of America Merrill Lynch can help you minimize risk and achieve efficiencies throughout the business cycle.

Featuring:

• CashPro^® Online — manage cash flow more quickly and efficiently with the convenience of a single sign-on portal. Gain better control and real-time visibility into business accounts, no matter where—or when—you do your banking.

• Fraud prevention tools — customized solutions for safeguarding your law firm, its partners and clients across your online transactions

• Controlled disbursement accounts — check presentment services to help optimize the funding of disbursement activity, enhance investment opportunities and potentially reduce borrowing requirements

• Remote deposit scanning — electronic payments processing designed to reduce check handling and speed up your receivables processing 

• Lockbox services — receivables solutions to help improve the efficiency of your receivables and speed up collection cycles

Bank of America Merrill Lynch can help you structure, manage and monitor a comprehensive workplace benefits program for attracting and retaining valued employees. From simplifying your payroll process to unveiling a new retirement plan, your client manager can introduce you to a variety of services intended to help you cultivate employee loyalty while carefully managing costs.

Featuring:

• Employee banking and payroll management — group banking solutions designed to reduce payroll costs and increase direct deposit of pay, with preferred rates and discounts on banking services

• Bank of America Benefit Solutions^TM— cost-effective health savings and flexible spending  accounts to help save you money while giving employees more control over their healthcare spending

• Retirement and benefit plan services — fully integrated retirement and benefit plan programs for Defined Contribution, Defined Benefit, Nonqualified Deferred Compensation, Equity Compensation and Executive Services that are easy to understand, access and manage

• Investments and wealth management — direct access for employees to a powerful network of banking and investing capabilities and guidance, from self-directed investing through Merrill Edge® to working with a Merrill Lynch Wealth Management advisor