merill lynch
merill lynch
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INTRODUCTION
About Merrill Lynch: The wealth management division of Bank of America is currently known as Merrill Lynch. It comprises of 15,000 financial advisors and $2.2 trillion in client assets; it is the world's largest brokerage. Earlier the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER.
In Brief: In this particular case study we find that Merrill Lynch has introduced a new client relationship technique called the Supernova at the Merrill Lynch’s Indianapolis offices. This practise was implemented on a trial basis and generated a positive and vibrant response between the financial advisors (FA’s) and their customers. But on the flipside it was continuously challenging the traditional ways of dealing of a relationship by a FA with its client party. The concerned person here in this case is in a dilemma whether to apply Supernova in Merrill Lynch with a larger perspective.
SUPERNOVA
Supernova was the name given to new way of relationship managementintroduced by Merrill Lynch’s Indianapolis offices.
Supernova was invented by Rob Knapp, head of Mid West Dist office who’s “Customer Satisfaction” ranked last among 32 dist in country in 1995.
The Supernova Model is a client service, client acquisition, and practice management model that drives an explosive acceleration in revenue and client satisfaction by capitalizing upon the 80/20 Rule. It was first implemented by financial advisors at Merrill Lynch under the leadership of FA Rob Knapp. Thereafter it became more popular in the finance industry. The advisor implementing Supernova can prove the benefit of this model while creating a better experience for your clients and significantly growing your business at the same time.
Supernova was required at Merrill Lynch since the Financial Advisors hardly contacted their clients through any medium to solve their problems or offer them new financial products. This
submitted by:
INTRODUCTION
About Merrill Lynch: The wealth management division of Bank of America is currently known as Merrill Lynch. It comprises of 15,000 financial advisors and $2.2 trillion in client assets; it is the world's largest brokerage. Earlier the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER.
In Brief: In this particular case study we find that Merrill Lynch has introduced a new client relationship technique called the Supernova at the Merrill Lynch’s Indianapolis offices. This practise was implemented on a trial basis and generated a positive and vibrant response between the financial advisors (FA’s) and their customers. But on the flipside it was continuously challenging the traditional ways of dealing of a relationship by a FA with its client party. The concerned person here in this case is in a dilemma whether to apply Supernova in Merrill Lynch with a larger perspective.
SUPERNOVA
Supernova was the name given to new way of relationship managementintroduced by Merrill Lynch’s Indianapolis offices.
Supernova was invented by Rob Knapp, head of Mid West Dist office who’s “Customer Satisfaction” ranked last among 32 dist in country in 1995.
The Supernova Model is a client service, client acquisition, and practice management model that drives an explosive acceleration in revenue and client satisfaction by capitalizing upon the 80/20 Rule. It was first implemented by financial advisors at Merrill Lynch under the leadership of FA Rob Knapp. Thereafter it became more popular in the finance industry. The advisor implementing Supernova can prove the benefit of this model while creating a better experience for your clients and significantly growing your business at the same time.
Supernova was required at Merrill Lynch since the Financial Advisors hardly contacted their clients through any medium to solve their problems or offer them new financial products. This