Merrill Lynch Wealth Management is a business that employs financial advisors whose goal is to assess the financial situations of clients and then use that knowledge to help them make smart investments, according to Merrill Lynch. The company is one of the largest wealth management organizations in the world.Continue Reading
Merrill Lynch Wealth Management was founded in 1914, and the company had more than 15,000 financial advisors on staff as of 2012, according to Forbes. Merrill Lynch advisors help clients manage various types of investments, assist with estate and retirement planning and offer college savings tips. They also provide small business services, such as banking and cash management solutions, and assist clients interested in philanthropy and eldercare. Additionally, Merrill Lynch Wealth Management has partnered with Khan Academy, a company that specializes in online learning, to create Better Money Habits, a free service that provides online videos and tutorials for people who want to learn more about finance and investing, according to Merrill Lynch.
In 2012, Bank of America sold Merrill Lynch Wealth Management to a Julius Baer, a private Swiss banking firm, for approximately $884 million, according to Forbes. However, much of the company's direction and leadership remains in the hands of Bank of America.Learn more about Corporations