Merrill Lynch Wealth Management is currently one of the wealth management companies in the United States of America and one of the World’s most famous. They currently operate as the wealth management arm of the Bank of America and they manage assets of around $2.2 trillion dollars. Today we are going to take a look into the workings of Merrill Lynch and a case study of one of their finest advisors.
The Company
Until 2009 Merrill Lynch & Co . Inc was a publicly owned company which operated on the New York stock exchange. The company really rose to prominence throughout the 70s thanks to their advantage of being able underwrite securities using their own firm whereas other competitors such as Morgan Stanley would have to work with independent brokers in order to place the securities which were underwritten. The strong brokerage network which the company put together were named on Wall Street as the thundering herd such was their size and their capabilities.
Buyout
During the economic crisis of 2008 which saw the World’s economy falter and financial service companies capitulate, Merrill Lynch was acquired by the Bank of America to operate as their wealth management arm, the sale cost Bank of America around $50 billion. Following the collapse of companies such as Enron and the Lehman Brothers, Merrill Lynch’s smart management and powerful reputation have meant that they have not only survived the economical storm but have since gone from strength to strength in the industry winning a plethora of awards both domestically and internationally.
Staff
To manage their $2.2 trillion assets, the company relies on 15,000 staff and advisors who work with clients from all over the globe to help see return on their investments and offer wealth growth strategies. One such member of the team is Adam Rosenfeld Miami-based advisor , Adam came on board with Merrill Lynch in 2011 following a brief stint with Morgan Stanley. Rosenfeld has 16 years in the industry and is qualified to offer both investment advice as well as operate as a broker after being registered with the FINRA. Advisers like Adam is what Merrill Lynch is all about and they give customers the cream of the crop when it comes to financial advice. Rosenfeld for example currently offers financial planning, portfolio management for individuals and business, pension consulting and securities portfolio management.
These are the kind of high grade staff that Merrill Lynch are looking at offering their clients, staff who know what the customer needs and understands the market well enough to give it to them. Not only this but staff who have multiple strings to their bow and can offer their expertise on a broad range of financial subjects.
With so many large scale investment and wealth management companies having fallen by the wayside it is testament to Merrill Lynch’s reputation and experience that they have been able to survive the last decade of financial uncertainty and go on to post profits for both themselves as a subsidiary and the Bank of America as well.
