NEW YORK - Merrill Lynch & Co. on Tuesday introduced its previously announced account aggregation service.
Called My Financial Picture, the service is powered by Yodlee Inc. and offers clients a free, one-stop, online snapshot of all their financial accounts - even those not held at Merrill. It is available on the Web sites Merrill Lynch Online and Merrill Lynch Direct.
The brokerage is pitching the service as especially valuable for clients who share their consolidated financial information with their financial consultant. Merrill also plans to integrate financial planning tools into the aggregation service for clients who do not have a personal adviser.
As part of the service, Merrill said it will offer My Net Worth to consolidate Merrill Lynch cash management accounts and retirement accounts, non-Merrill investment accounts, and bank, credit card, and mortgage accounts. My Rewards will aggregate credit card, frequent flier, and other bonus awards.