Bank of America wants to remind everyone that Merrill Lynch is more than just a sideshow. Trying to move beyond the lawsuits and congressional hearings, BoA will finally start using Merrill for what it intended when it bought the beleaguered investment bank in January: to develop wealth management products.

BoA on Monday introduced the first product that uses Merrill's investment management capabilities and the overall firm's banking capabilities. The "My Retirement Income" offering lets customers nearing, or in, retirement automatically transfer, monthly or quarterly, funds from a Merrill cash management account into a BoA deposit account.

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