As part of the program, customers first meet with an advisor for a one-on-one conversation about their financial situation. This is followed by a detailed discussion regarding their financial goals, such as retirement, college savings, and emergency funds. Based on these discussions, customers receive a financial assessment and action plan, including specific investment recommendations.
The reports give more detail and specificity than had been provided previously and “make things simpler for clients to act on,” said Vecchiarello.
As part of the program investors also receive reports detailing the progress they are making toward their goals. In addition, they have the opportunity to meet with an advisor at least every six months to review their progress and make adjustments if necessary.
“We understand that our clients have unique financial situations and personal goals that evolve with time,” Alok Prasad, head of Merrill Edge, said in a statement. “Merrill Edge Roadmap will help them to identify and pursue these evolving goals throughout their lifetime—from entering the workforce to preparing for retirement.”
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