FactSet announced it has been selected to be the primary market data provider for Merrill Lynch Wealth Management.
Starting in the fourth quarter, the Norwalk-based company’s web-based platform will be provided to more than 15,000 wealth management professionals across Merrill Lynch’s operations. FactSet’s multiyear, enterprise-level agreement with Merrill Lynch also includes the integration of its data feeds into Merrill Lynch’s internal applications and client-facing portals. FactSet is replacing Thomson Reuters as Merrill Lynch’s main source of market information.
“Wealth management is a growing part of our business and currently represents approximately 10 percent of our Annual Subscription Value,” said Phil Snow, CEO of FactSet. “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.”