Supernova
“CASE WRITE-UP” “CASE WRITE-UP”
GROUP MEMBERS:
INDERJIT MITRA
SOUMAVA GHOSH
RAUNAK DUTTA
GROUP MEMBERS:
INDERJIT MITRA
SOUMAVA GHOSH
RAUNAK DUTTA
MERRILL LYNCH SUPERNOVA CASE STUDY MERRILL LYNCH SUPERNOVA CASE STUDY
MERRILL LYNCH SUPERNOVA: CASE WRITE UP
About Merrill Lynch: The wealth management division of Bank of America is currently known as Merrill Lynch. It comprises of 15,000 financial advisors and $2.2 trillion in client assets; it is the world's largest brokerage. Earlier the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER.
In Brief: In this particular case study we find that Merrill Lynch has introduced a new client relationship technique called the Supernova at the Merrill Lynch’s Indianapolis offices. This practise was implemented on a trial basis and generated a positive and vibrant response between the financial advisors (FA’s) and their customers. But on the flipside it was continuously challenging the traditional ways of dealing of a relationship by a FA with its client party. The concerned person here in this case is in a dilemma whether to apply Supernova in Merrill Lynch with a larger perspective.
Problems before Supernova: * Large client base i.e. 550 clients per FA .Thus it was difficult to contact each and every client by an FA. * Secondly all the meetings and follow ups were not structured in a proper manner leading to shortage of time and non-delivery of information from one end to the other.
Supernova: It was the name given to a new way to manage client relationships that originated in one of the Merrill Lynch’s Indianapolis offices. The idea was penned by Rob Knapp who is also referred to as the father of supernova.
Origin of Supernova: Merrill Lynch’s FA’s often contacted their clients to provide them necessary information about the various investment products but in turn they irritated them
GROUP MEMBERS:
INDERJIT MITRA
SOUMAVA GHOSH
RAUNAK DUTTA
GROUP MEMBERS:
INDERJIT MITRA
SOUMAVA GHOSH
RAUNAK DUTTA
MERRILL LYNCH SUPERNOVA CASE STUDY MERRILL LYNCH SUPERNOVA CASE STUDY
MERRILL LYNCH SUPERNOVA: CASE WRITE UP
About Merrill Lynch: The wealth management division of Bank of America is currently known as Merrill Lynch. It comprises of 15,000 financial advisors and $2.2 trillion in client assets; it is the world's largest brokerage. Earlier the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER.
In Brief: In this particular case study we find that Merrill Lynch has introduced a new client relationship technique called the Supernova at the Merrill Lynch’s Indianapolis offices. This practise was implemented on a trial basis and generated a positive and vibrant response between the financial advisors (FA’s) and their customers. But on the flipside it was continuously challenging the traditional ways of dealing of a relationship by a FA with its client party. The concerned person here in this case is in a dilemma whether to apply Supernova in Merrill Lynch with a larger perspective.
Problems before Supernova: * Large client base i.e. 550 clients per FA .Thus it was difficult to contact each and every client by an FA. * Secondly all the meetings and follow ups were not structured in a proper manner leading to shortage of time and non-delivery of information from one end to the other.
Supernova: It was the name given to a new way to manage client relationships that originated in one of the Merrill Lynch’s Indianapolis offices. The idea was penned by Rob Knapp who is also referred to as the father of supernova.
Origin of Supernova: Merrill Lynch’s FA’s often contacted their clients to provide them necessary information about the various investment products but in turn they irritated them