Merrill Lynch’s 14,800-plus financial advisors will start using FactSet, and not Thomson Reuters, as their primary source of market information in the fourth quarter of 2018.
“Our clients rely on us for world-class planning and advice, and having access to a comprehensive market data platform allows us to deliver a broad range of investing capabilities to help address every aspect of a client’s financial life,” according to a statement from Merrill Lynch Wealth Management.
FactSet says its web-based platform gives financial professionals multi-asset content, analytics and global market data. For its multi-year deal with Merrill, advisors will see the FactSet information integrated into both the wirehouse’s internal applications and the client-facing portals.
“Being selected by Merrill Lynch demonstrates how quickly we have progressed in [the wealth management] space and is a testament to the strength of our overall offering,“ said FactSet CEO Phil Snow, in a statement. “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.”