Bank of America has increased the number of financial solutions advisors under its Merrill Edge brand to more than 1,200, effectively hitting its goal of doubling its FSA count by the end of 2011.

The hires are part of the bank's initiative meant to enhance product and service offerings to preferred clients, or those with $50,000 to $250,000 in investible assets. The job of the FSA is to provide clients with solutions and guidance in managing banking and investment needs and help them stay in better control of their finances. 

Nearly 65 FSAs have been added to its Florida banking centers this year, while around 155 FSAs were hired in the Merrill Edge Advisor Center in Jacksonville, bringing the total FSA count statewide to more than 350. In Texas, around 60 FSAs have been added to banking centers in 20 cities. 

"At the beginning of the year, we committed ourselves to enhancing our services and offerings to meet the complex needs of our preferred customers," said Dean Athanasia, preferred and small busines banking executive at BofA.

Preferred clients are among the fastest-growing segments in the financial services industry, the BofA said in a statement. At present, the bank has some 8 million preferred customers. 

Concurrent with the announcement is the rollout of Bank of America's Platinum Privileges recognition and benefits program to eight additional states and Washington DC this month. The program is meant for customers who maintain $50,000 or more in deposit balances with Bank of America or investment balances with Merrill Edge. Platinum Privileges was piloted early this year in Arizona, Georgia and Massachusetts and was officially launched in September in nine states including New York, Florida, North Carolina and Pennsylvania. It will continue to expand to additional markets in 2012.