Salesforce.com reports Merrill Lynch wealth management deal

Salesforce.com reports Merrill Lynch wealth management deal

CRM software vendor Salesforce.com has signed a deal with Merrill Lynch that will see its new on-demand CRM system for financial advisors rolled out to 25,000 staff at the investment bank.

The vendor says its Wealth Management Edition package is designed for financial advisors, discount brokers, private bankers and independents and is built on its CRM application and the Apex on-demand platform.

Salesforce says the package provides advisors with a 360 degree view of clients and allows them to manage client data and information in one place.

The deal makes Merrill Lynch the biggest user of the on-demand CRM software.

Commenting on the contract, Marc Benioff, CEO of Salesforce.com, told reporters that the on-demand model for CRM and broader business applications is "winning the war for the enterprise over more traditional on-premise rivals".

The vendor says Salesforce Wealth Management Edition is the first in a series of financial services applications it plans to release.

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