Merrill Lynch Case - MEMORANDUM TO Dr Russell Lacey FROM...

Info icon This preview shows pages 1–2. Sign up to view the full content.

MEMORANDUM TO: Dr. Russell Lacey FROM: Rebecca Olson DATE: March 24, 2013 RE: Merrill Lynch SUMMARY: Merrill Lynch was founded in 1907, and throughout the 70s, “became a powerful force in investment banking in addition to retail brokerage”, and by 2000, the company described itself as “the preeminent financial management and advisory company---serving governments, institutions and investors throughout the world”. The basis of the company’s operations is the interaction between Merrill’s financial advisors and their individual clients. Clients are brought in through are a variety of different methods such as: FA’s personal relationships, networking, professional alliances, industry affiliations and by “cold calling” individuals who were thought to be good client prospects. Merrill Lynch prides themselves on the selection of their employees. “Industry observers noted that Merrill Lynch FAs were particularly successful because the firm had been adept at hiring strong performers and weeding out the less successful.” Historically, it has been seen that Merrill has done a better job of ensuring a certain level of quality in the deliverance of their services in comparison to their competitors. In the early 1990s the company was working towards increasing the size of their books and to do this, the company ran an incentive program called “The Masters Program” where FAs would win a trip to Hawaii if they opened a certain number of accounts. By 1995, Rob Knapp the manager of Merrill’s Midwest District established a client satisfaction program titled “Supernova”. The purpose of this program was to develop a new way in which Merrill FAs managed their client relationships. The program focused on three main aspects of client satisfaction: 1. The frequency and quality of contact 2.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern