Bank of America Launches Art Consulting Service

Rhea-AI Summary

Bank of America (NYSE: BAC) launched an Art Consulting service on February 18, 2026, through Bank of America Private Bank and Merrill to help clients navigate the art market.

The service offers tailored consulting, market research, access to fairs/galleries/auctions, and complements existing art lending, consignment, estate planning and philanthropy services.

New Offering Helps Bank of America Private Bank and Merrill Clients Build Art Legacies

NEW YORK, Feb. 18, 2026 /PRNewswire/ -- Bank of America Private Bank today announced the launch of its Art Consulting service, designed to help Private Bank and Merrill clients navigate the complex and often opaque art market. This new offering provides collectors with trusted, unbiased guidance to help them curate and manage collections that reflect their vision, values, and financial objectives.

The most recent New York Fall Auction season saw $2.2 billion worth of art sold, underscoring the growing role of art as both a cultural asset and a financial one. As collectors increasingly view art as part of their wealth strategy, Bank of America is deepening its commitment to helping clients make informed decisions in this dynamic market.

"Art collection sits at a unique intersection. It's a profound means of self-expression while also holding significant financial value," said Drew Watson, Head of Art Services at Bank of America. "Our goal is to bring clarity to the marketplace and help clients make informed decisions, whether they're acquiring their first piece or refining a multigenerational collection."

A Comprehensive Approach for Collectors
Art Consulting offers a tailored experience for clients at every stage of their collecting journey, providing context on art history, market dynamics, and emerging collecting trends. The program is built around a multistep process involving consultation, strategy guidance, execution support, and long‑term advice, providing clients with a structured framework for the thoughtful development, management, and refinement of their collections.

The service also opens discreet access to the broader art world, helping clients engage with art fairs, galleries, auctions, and private dealers. In addition, the team delivers ongoing market updates, research, and other resources that provide the client with information to help them make key decisions.

The service will be led by Art Services Specialists Dana Prussian Haney for the Private Bank clients and Caroline Orr for Merrill clients. It complements Bank of America's broader suite of Art Services, which includes art lending, consignment, estate planning, philanthropy, and access to exclusive art world events.

Investment products

Are Not FDIC Insured

Are Not Bank Guaranteed

May Lose Value

Bank of America Corporation's leadership in the art market is reinforced by its longstanding sponsorships and partnerships with museums and cultural institutions globally. These connections provide clients with extraordinary access to expertise and opportunities in the art world.

Bank of America
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 nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 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 4 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 more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact

Julia Ehrenfeld, Bank of America
Phone: 1.646.855.3267
julia.ehrenfeld@bofa.com

MAP #8746442

Disclaimer
Bank of America, its affiliates and advisors do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Nonfinancial assets, such as fine art, are complex in nature and involve risks including total loss of value. Special risk considerations include complex tax considerations and lack of liquid­ity. Nonfinancial assets are not appropriate for all investors. Always consult your independent attorney, tax advisor, investment manager and insurance agent for final recommendations and before changing or implementing any financial, tax or estate planning strategy.

Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation. Bank of America, N.A., and U.S. Trust Company of Delaware (collectively the "Bank") do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp.). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp

© 2026 Bank of America Corporation. All rights reserved.

 

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SOURCE Bank of America Corporation

FAQ

What is Bank of America’s new Art Consulting service (BAC) launched February 18, 2026?

It is a tailored advisory service for Private Bank and Merrill clients to manage art collections and strategy. According to Bank of America, it provides consultation, strategy guidance, execution support, market updates, and access to galleries, fairs, auctions and private dealers.

Who will lead the Bank of America Art Consulting teams for Private Bank and Merrill clients?

Private Bank clients will be served by Dana Prussian Haney and Merrill clients by Caroline Orr. According to Bank of America, these Art Services Specialists will lead client-facing advisory, market research, and access to cultural partnerships and events.

How does Bank of America’s Art Consulting service interact with existing BAC art products?

The service complements art lending, consignment, estate planning and philanthropy offerings across the bank. According to Bank of America, it integrates advisory with lending and consignment to support collection strategy and long-term legacy planning.

What access does the Art Consulting service provide to the art market for BAC clients?

Clients receive discreet access to art fairs, galleries, auctions and private dealers plus ongoing market research. According to Bank of America, institutional partnerships and sponsorships broaden client access to expertise and exclusive opportunities.

Does Bank of America warn about risks of art as an investment in the new service announcement?

Yes, the announcement notes nonfinancial assets carry risks including loss of value and limited liquidity. According to Bank of America, clients should consult legal, tax and investment advisors before making art-related financial decisions.

How does the Art Consulting launch reflect market context cited by Bank of America on February 18, 2026?

The bank cited $2.2 billion sold in the recent New York Fall Auction season to underscore market scale. According to Bank of America, growing interest in art as part of wealth strategies motivated deeper advisory services.