What happened: Unnamed sources reported that Merrill Edge, the online brokerage and branch advice platform owned by Bank of America, is building a “robo” to service accounts under $250,000. While details have yet to be released, it’s expected to be unveiled next year.

Why it matters: It’ll be fascinating to see if Bank of America is wanting to join the ranks of self-directed robos, or if they just want to deliver client-driven, advisor-assisted technology to drive scale in their branch-based advisory business. Either way, if all “robo” manages to accomplish is better client-facing technology from every financial institution, that’ll be a big win for consumers.