NEW YORK, July 12 /PRNewswire/ -- Merrill Lynch (NYSE: MER) today
inaugurates Merrill Lynch Unlimited Advantage(SM), an aggressively priced and
feature-rich service offering for individual investors. The new account is
the first implementation of Merrill Lynch's strategic commitment to expand the
range of pricing and service channels for private clients to work with and
access Merrill Lynch resources, including new tools such as online order entry
and traditional ones such as world-class research and financial-planning
services with professional financial consultants.
For a minimum annual fee of $1,500, Merrill Lynch Unlimited Advantage(SM)
is an account with no traditional commissions. Pricing is based on household
assets at a blended rate of one percent of equity and mutual fund assets and
30 basis points of cash and fixed income assets. Percentages decline as
assets grow. For one fee, clients have total access to a financial consultant
and to Merrill Lynch's world-class research.
"Our offering extends well beyond stock trading on the Internet," said
John L. Steffens, Vice Chairman of Merrill Lynch. He continued, "We are
leveraging technology and the comprehensive power of Merrill Lynch to give
investors what they tell us they want -- choice, flexibility and a broad range
of products and services to meet their total financial needs. We've created
a framework that will enable clients to design the exact kind of relationship
with Merrill Lynch that they want, be it online or off."
Among the many features of the one-fee, all-inclusive Merrill Lynch
Unlimited Advantage(SM) are:
-- Personalized service from a skilled Merrill Lynch financial consultant
who is backed by the full power and global resources of the
organization.
-- Unlimited trades via phone, Internet or human being for most investors
in most securities.
-- A fully customized personal financial plan with periodic updates.
-- A Visa signature card and client rewards program, with a broad range of
cash management services
-- Merrill Lynch Online and access to Merrill Lynch research.
-- An eCommerce link, including significant discounts and/or additional
reward points for purchases made with the Visa Signature card through
the firm's online merchant center.
-- An unlimited number of eligible accounts can be linked.
Clients also have the option of continuing to do business with a Merrill
Lynch financial consultant under the existing commission structure.
A full range of discretionary asset-management services will continue to
be available, as well as specialized services for high-net-worth individuals.
Mutual funds will also be available online, as well as fixed income and other
products.
To complete the integrated offer of choice, Merrill Lynch will introduce
transaction pricing on the Internet in December at a basic charge of $29.95
per trade for U.S. equities. For people who want the convenience of doing
business by telephone, a toll-free number is also available for information,
advice and transactions 24 hours a day, seven days a week.
Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 41 countries and total client assets
exceeding $1.5 trillion. As an investment bank, it is the top global
underwriter and market maker of debt and equity securities and a leading
strategic advisor to corporations, governments, institutions, and individuals
worldwide. Through Merrill Lynch Asset Management and Mercury Asset
Management the company is one of the world's largest managers of financial
assets. For more information, visit Merrill Lynch's web site at
http://www.ml.com.
SOURCE Merrill Lynch & Co.
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Related links:
http://www.ml.com
Company News On-Call:
http://www.prnewswire.com/comp/555800.html or fax,
800-758-5804, ext. 555800
CONTACT:
Susan Thomson of Merrill Lynch & Co.,
212-449-2004, or susan_thomson@ml.com
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