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Merrill Lynch Brings on FactSet as Primary Market Data Provider

By Alex Padalka August 8, 2018

Merrill Lynch Wealth Management has picked FactSet as the primary market data provider for the firm’s more than 15,000 wealth management professionals, according to a press release from FactSet.

Later this year Merrill Lynch’s advisors will be able to access FactSet’s content on multiple asset classes, as well as analytics and global market data, according to the press release.

Merrill Lynch is also integrating FactSet’s data fees into its internal software as well as client-facing platforms, FactSet says.

FactSet’s content and analytics platforms currently have more than 89,000 users, according to the press release. But wealth management partners make up only around 10% of the firm’s annual subscription value, Phil Snow, FactSet’s CEO, says in the press release.

“Being selected by Merrill Lynch demonstrates how quickly we have progressed in this space and is a testament to the strength of our overall offering,” he says in the press release.

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“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,” Snow says.