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Merrill Lynch Wealth Management (Merrill) is a leading provider of comprehensive wealth management and investment services for individuals and businesses. With $2.2 trillion in client balances as of March 31, 2020, 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. Merrill Lynch Wealth Management is part of Bank of America Corporation.

Kabir Sethi

Head of Digtal Wealth Management

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BROKER DEALERS (> 1,000 Advisors): Service
Actionable Client Insights to Improve Client Servicing
Merrill Lynch Wealth Management launched a new program, Merrill Client Insights, to provide a proactive and automated way of identifying and notifying advisors of relevant life and servicing events for clients across their banking, lending and wealth management relationships. This approach allows advisors to recognize, in a timely fashion, potential client needs and offer relevant solutions across a full range of banking and investment products and services, thereby enhancing their experience and deepening the relationship. The insight events are triggered from our big data analytics platform. Each insight is complemented with a thoughtfully crafted “playbook” that intelligently packages the insight in a way for advisors to execute quickly. The playbook includes transparency into the trigger logic, conversation starters, next steps, marketing materials and internal resources.
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BROKER DEALERS (> 1,000 Advisors): Technology
Digital Collaboration Tool Set
The personal relationship between clients and advisors is the foundation of Merrill Lynch’s value proposition. While most industry reporting portrays technology as at odds with the advisor-driven advice model, our recent focus has been on developing collaborative technology that strengthens the relationship between clients and their advisors. Key enhancements include: – Virtual Digital Collaboration – partnered with LiveOak to deliver platform that allows advisors to virtually collaborate with clients to complete forms in real-time – Mobile Easy Sign – provided clients the ability to digitally sign and return forms to their advisor securely through the mobile app, in addition to normal eSignature process – Compliant Texting & Calling – partnered with Celltrust to enable compliant calling and texting between clients and advisors’ office phone number
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BROKER DEALERS: Social Media Leadership
Socialize – Compliant Social Media Platform for Advisors
In order to develop new opportunities and build relationships on social media, Merrill advisors needed a steady, high-quality stream of compliant content to authentically engage clients and prospects. To achieve this outcome, Merrill integrated two market leading platforms, each with its own patented use of Natural Language Processing (NLP) technology. – Grapevine6 – Pulls from multiple content sources and uses NLP technology to surface content uniquely relevant to each individual advisor. – Proofpoint – Scans all formats of content, using AI-based classifiers, to assess social activity for 150+ types of risk with an intelligent remediation approach built in. Advisors experience this integrated platform through the Socialize mobile and desktop application, which has a simple and intuitive user interface that facilitates seamless onboarding and use.

Jen Auerbach

Managing Director

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BROKER DEALERS (> 1,000 Advisors): Corporate Social Responsibility/Diversity
#WomenInvested national event series
Merrill launched a novel, multi-market event series to convene women on topics that matter most to them – such as health and wellness, time and stress management, and resiliency. The series hosts best-selling authors, visionaries, and entrepreneurs to bring together an inspiring program with dynamic conversations. These forums encourage women clients, prospective clients, and financial advisors to connect with each other and initiate dialogue on important topics and how those issues relate back to financial wellness. (Since launching the series in the fall of 2018, five of the ten events have taken place. The series is on hold because of the current environment.)
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About the Initiative

Guided Income Solutions℠ (GIS) is a turnkey, bucketed investment solution designed to deliver steady and tailored cash flows to clients planning for retirement. The bucketed investing framework provides an intuitive approach to converting clients’ nest eggs into an automatic income replacement based on their personal financial goals; the buckets automatically rebalance to systematically reduce risk and accommodate investors’ needs. GIS provides an alternative to annuities; delivering an investment approach that is flexible, liquid, and cost-effective.

GIS aims to transform and enhance current retirement income solutions, to: