Member Spotlight: Merrill Lynch
Merrill Lynch has always used a bull as its logo to symbolize the company’s optimism in the American economy , even after being acquired by Bank of America, the Bull is proudly displayed in the offices and on most material from Merrill Lynch. These days, Richard Marcolla, Resident Director of the Merrill Lynch branch at 336 S. 36th Street, says the investment industry, as a whole, has good reason to be optimistic.
“The major market indexes are still off a bit, but most balanced portfolios have fully recovered from the downturn of 2008 and some are seeing new highs,” he says. “The market even recovered in just a few short weeks from the recent tragedy in Japan.
Founded in 1914 by Charles Merrill, Merrill Lynch is now the largest brokerage in the world, with more than 15,000 financial advisors and approximately $2.2 trillion in client assets.
The local office was opened in 2007 when the A.G. Edwards investment office at 3325 Maine was acquired by Wachovia. In 2008, more financial advisors and valued staff joined the team from the local Smith Barney office. Merrill Lynch currently has 11 financial advisors in Quincy. Marcolla said the local office is one of the biggest in the tri- state area in terms of financial advisors and assets under management.
“The size of your investment firm counts,” says Marcolla. “Our Global Equity Research division employs over 500 analysts in 20 countries. They research thousands of companies around the world so the advisors here locally can give our customers proactive, innovative, and distinguished investment ideas. Our clients have access to affiliate and third-party investment funds, managed accounts, tax-advantaged investment vehicles, fully diversified portfolios or more targeted portfolios designed to fill investing gaps.”
In addition to individual investing services, Merrill Lynch also provides a wide variety of financial services for businesses, including key person insurance, buy/sell agreements and funding, succession planning, tax-efficient wealth transfer and estate planning. The company’s association with Bank of America also allows advisors to assist with a company’s cash management issues and credit needs.
“But the community involvement of our financial advisors really makes this global company a ‘Quincy’ company,” says Marcolla. “Our advisors are involved with the Chamber, Transitions of Western Illinois, the YMCA, The Exchange Club, the Community Foundation of the Quincy Area, Rotary, the Quincy Public Schools, our churches, and the list goes on and on. “
“So, our clients have the best of both worlds: global company resources and personal, home-town service,” he adds.
Marcolla reminds all investors that “time in the market, not timing the market” is the secret of a successful portfolio. He says it’s never too early to start planning your retirement. For more information, visit www.ml.com or call the Quincy office at 217-592-3940.