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Bank of America plans to open 600 new centers of its financial platform by 2020

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Bank of America plans to open 600 new centers of its financial platform by 2020

Bank of America Corp.'s Merrill Edge will open 600 new investment centers by 2020, which would bring the total number of investment centers to 2,800.

Merrill Edge is a financial platform offering access to online and advised investing, trading, brokerage and banking services.

The new investment centers will be built within financial centers opening in Cleveland; Cincinnati; Columbus, Ohio; Indianapolis; Lexington, Ky.; Pittsburgh; and Salt Lake City. Some will also be added to existing financial centers in Chicago; Houston; Kansas City, Kan.; Los Angeles; Miami; Minneapolis; New York; Philadelphia; San Francisco; and San Jose.

In connection with the expansion, the company plans to hire 300 new financial solutions advisers, which would bring the total number of representatives to 4,000 by the end of 2018.