Merrill Lynch Launches My Financial Picture; Powerful Online Aggregation Service Provides Clients One-Stop Access to Financial Information.Business & Finance Editors NEW YORK--(BUSINESS WIRE)--Feb. 20, 2001 Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. (NYSE NYSE See: New York Stock Exchange :MER mer Among the Cheremi and Udmurt peoples of Russia, a sacred grove where people of several villages gathered periodically to hold religious festivals and sacrifice animals to nature gods. ) today announced the launch of My Financial Picture, a new online service that provides clients convenient, secure access to virtually all their financial information. Accessible via both Merrill Lynch Online(SM) (www.mlol.ml.com) and Merrill Lynch Direct(SM) (www.mldirect.com), My Financial Picture offers clients, at no cost, a confidential, one-stop snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. of all their financial accounts online. While all clients will benefit from the ease, efficiency and security of this new tool, the service is especially valuable for those full-service clients who opt to share this information with their financial consultant. By doing so, clients can enhance the level of advice and guidance they receive, resulting in a more well rounded approach to building and managing their wealth. Clients who do not have a financial consultant can also benefit through the use of proprietary Merrill Lynch financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against tools planned for future integration into the service. "We are continually looking to enhance the quality and value of service to our clients," said Randal Langdon, head of Merrill Lynch's Digital Business Development Group. "When you combine My Financial Picture's convenience and security with the level of expertise that our clients are already receiving from our online platforms and our unparalleled network of 16,000 skilled financial advisors, the user experience clearly will be second to none." Powered by Yodlee.com, the leading provider of account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. services on the Internet, My Financial Picture offers clients the utmost in security and privacy. Neither Merrill Lynch nor Yodlee has access to a client's password unless the client chooses to provide it. Two views of clients' financial landscapes available: My Net Worth will provide a consolidated view of Merrill Lynch CMA CMA - Concert Multithread Architecture from DEC. (R) and retirement account(s), non-Merrill Lynch investment accounts, bank accounts, credit card balances and mortgage statements. The information is illustrated in easy to understand charts and graphs so clients can see their net worth as well as the details of their assets and liabilities. My Rewards aggregates CMA(R) Visa(R) Signature reward points with any other credit card rewards, frequent flyer frequent flyer Hospital practice A popular term for a Pt who is regularly admitted to a particular ER or health care facility, for various reasons miles, etc., so clients can see how many bonus awards have been accumulated across accounts. Online aggregation of personal financial information is one of the hottest areas of e-commerce. Industry observers predict the service to grow to between 20 million to as many as 90 million users over the next few years. In December, The two largest aggregation service providers, Yodlee, Inc. and VerticalOne Corporation, announced an alliance that will create an combined entity with more than 1.5 million accounts with approximately $10 billion in assets. The Merrill Lynch U.S. Private Client Group is the nation's foremost wealth management organization, serving households, small- to-mid-sized businesses and regional financial institutions. Clients have access to Merrill Lynch's top-rated advice, guidance and research as well as sophisticated solutions for their investment, personal credit, insurance, home financing, trust and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the , business financing, retirement and group employee benefit needs. Merrill Lynch is one of the world's leading financial management and advisory companies with offices in 44 countries and total client assets of about $1.7 trillion. As an investment bank, it is the top global underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. and market maker of debt and equity securities and a leading strategic advisor to corporations, governments, institutions, and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets Financial assets Claims on real assets. . For more information on Merrill Lynch, please visit www.ml.com. |
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