NORWALK, Conn., Aug. 06, 2018 (GLOBE NEWSWIRE) -- FactSet, a global provider of integrated financial information, analytical applications, and industry-leading services, today announced it has been selected to be the primary market data provider for Merrill Lynch Wealth Management. Starting later this year, FactSet will deploy its Market Data solution to more than 15,000 wealth management professionals across Merrill Lynch. The web-based platform provides complete multi-asset class content, analytics and global market data. The multi-year, enterprise level agreement also includes FactSet’s data feeds, which will be integrated into Merrill Lynch’s internal applications and client facing portals.
This expanded relationship with one of the largest wealth managers in the world highlights the continued growth of FactSet’s Wealth Management business and reaffirms FactSet’s strategy of delivering enterprise solutions across the entire wealth management workflow.
“Wealth management is a growing part of our business and currently represents approximately 10 percent of our Annual Subscription Value,” said Phil Snow, Chief Executive Officer, FactSet. “Being selected by Merrill Lynch demonstrates how quickly we have progressed in this space and is a testament to the strength of our overall offering. We are thrilled to be expanding our relationship with Bank of America and look forward to supporting the ongoing success of their global wealth management team.”
For more information on FactSet’s Wealth Solutions, visit: https://www.factset.com/products/wealth
About FactSet
FactSet (NYSE:FDS | NASDAQ:FDS) delivers superior analytics, service, content, and technology to help more than 89,000 users see and seize opportunity sooner. We are committed to giving investment professionals the edge to outperform, with fresh perspectives, informed insights, and the industry-leading support of our dedicated specialists. We're proud to have been recognized with multiple awards for our analytical and data-driven solutions and repeatedly ranked as one of Fortune's 100 Best Companies to Work For® and a Best Workplace in the United Kingdom and France. Subscribe to our thought leadership blog to get fresh insight delivered daily at insight.factset.com. Learn more at www.factset.com and follow on Twitter: www.twitter.com/factset.
About Merrill Lynch Wealth Management
Merrill Lynch is a leading provider of comprehensive wealth management and investment services for individuals and businesses globally. With 14,820 financial advisors and $2.3 trillion in client balances as of June 30, 2018, it is among the largest businesses of its kind in the world. Bank of America Corporation, through its subsidiaries, specializes in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment, cash and credit management. Within Merrill Lynch, the Private Banking and Investment Group focuses on the unique and personalized needs of wealthy individuals, families and their businesses. These clients are served by approximately 200 highly specialized private wealth advisor teams, along with experts in areas such as investment management, concentrated stock management and intergenerational wealth transfer strategies. Merrill Lynch is part of Bank of America Corporation.
Source: Bank of America. Merrill Lynch represents multiple business areas within Bank of America’s wealth and investment management division including Merrill Lynch (North America and International) and Private Banking and Investments Group. As of June 30, 2018, Merrill Lynch entities had $2.3 trillion in client balances. Client Balances consists of the following assets of clients held in their ML accounts: assets under management (AUM) of ML entities, client brokerage assets, assets in custody of ML entities, loan balances and deposits of ML clients held at Bank of America, N.A. and affiliated banks.
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