Merrill Lynch

Essay specific features

 

Issue:

Business

 

Written by:

Victoria S

 

Date added:

March 6, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 480

 

Was viewed:

9222 times

 

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Essay content:

With the increased flow of financial information to investors, many investors felt they no longer needed to pay such a premium for a full-service broker like Merrill Lynch. Up to this point, the average Charles Schwab customer was 45 years old, with 95,000 average income, and about $100,000 in assets...
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This was compared to Merrill Lynch's average customer, which before the launch of Integrated Choice, had customers that tended to be older (53 yrs), and more affluent (> $100,000 in assets). Merrill Lynch's sweet spot was its priority clients which averaged 60 years of age with net assets of $650K. However, as Charles Schwab started aggressively targeting more affluent individuals with its technology and reduced trading rates, they started attracting the more affluent investors that would typically sign with a full-service firm...
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