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Merrill Lynch Direct Comparison with Free Financial Portals

This project compares Merrill Lynch Direct with free financial portals, analyzing features, feedback, and site statistics. Client feedback highlights areas for improvement in tracker, quotes, and news functionalities. Recommendations include enhancing data items, customization options, and integration with other site areas. The study also evaluates competitor trackers and quotes, emphasizing the need for better integration and additional features. News functionality comparisons suggest improvements in news sources, search capabilities, and layout.

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Merrill Lynch Direct Comparison with Free Financial Portals

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  1. Introduction Project Overview Tracker Quotes News Conclusion Merrill Lynch DirectFeatures and Functionalityof Tracker, News, and Quotes Compared to Free Financial Portals Thomas J. Bahnck Management Science & Information Systems Penn State University Client Access Group Intern Merrill Lynch Direct

  2. Introduction Project Overview Tracker Quotes News Conclusion Why Compare MLD and Financial Portals? • Offer several similar features • Portals openly accessible with larger audience • Functionality more comprehensive on portals • Feedback from IFR draws comparisons of MLD and free sites • Usability testing suggests clients complement online broker with Yahoo! Finance, CBS MarketWatch, etc.

  3. Introduction Project Overview Tracker Quotes News Conclusion What Do Our Clients Say? - from IFR • “Why does the tracker feature not reflect stock splits automatically?” - MSN MoneyCentral automatically updates • “Improve the news references and get them all. I have to go to Yahoo’s screens to see what is going on.” - Yahoo! Finance has 16 sources • “I have had several requests about adding the Dow Industrial, S&P 500, American Exchange composite to the tracker quotes” (from FC) - SmartMoney.com has multiple indices

  4. Introduction Project Overview Tracker Quotes News Conclusion MLD Site Statistics As of July 21, 2000: • 3,148,050 Requests for Tracker (19% of hits to Research) • 64,086,266 Requests for Quotes (40% of hits to site) • 3,325,510 Requests for News (21% of hits to Research) • =All vital areas of Merrill Lynch Direct

  5. Introduction Project Overview Tracker Quotes News Conclusion MLD Tracker Analysis • Merrill Lynch lags far behind - only 16 data items available compared to an average of 38.7 and max of 65 (MSN MoneyCentral) • Lacks basic data items such as Earnings/Share, 52-Week High/Low, p/e ratio • Unable to track cash • Offers only 2 views, Market Data and Performance, while other sites add Historical, Tax, Industry... • Cannot customize views • Will not account for splits, commissions, or dividends

  6. Introduction Project Overview Tracker Quotes News Conclusion The Competitions’ Trackers - MSN MoneyCentral “In addition to showing cumulative profit/loss, show daily profit/loss for the entire portfolio” - IFR “Several Clients have requested stock names instead of only symbols on tracker” - IFR

  7. Introduction Project Overview Tracker Quotes News Conclusion The Competitions’ Trackers - CNNfn “Allow us to create our own performance of our account” - IFR

  8. Introduction Project Overview Tracker Quotes News Conclusion Quotes Overview • Merrill Lynch level with competitors - has 5 basic features compared to average of 4.3 and 21 data items versus average of 18.3 • Offer better integration with other areas of the site: “It would be a lot easier if the quote page had my Watch List symbols across the top as links” (-IFR) • 5-Minute chart does not use real-time data • Cannot add symbol directly to tracker

  9. Introduction Project Overview Tracker Quotes News Conclusion The Competitions’ Quotes - CNBC Indices Integration Additional Features

  10. Introduction Project Overview Tracker Quotes News Conclusion News Functionality • MLD news sources limited with only 3 providers compared to average of 7.5 and max of 16 (Yahoo! Finance) • Lacks keyword search • Cannot view news for all holdings in one screen • Mixes news articles with press releases • Java dialog box complicates navigation from tracker

  11. Introduction Project Overview Tracker Quotes News Conclusion Yahoo! Finance News Filter by source

  12. Introduction Project Overview Tracker Quotes News Conclusion MLD News

  13. Introduction Project Overview Tracker Quotes News Conclusion Summary TRACKER • Needs more data items, customization, and greater functionality • Increase max number of trackers • Provide integration with ML research and opinion changes QUOTES • On par, but could better integrate with other features NEWS • Need more providers • Expand filter and search capability • Provide a view containing news items for entire tracker/portfolio

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