Fall 2008 Pledge Class Event
Just days after Merrill-Lynch announced their acquisition by Bank of America, Delta Sigma Pi was treated to an hour with a senior analyst who advised the Brothers on their personal finances while discussing his career and the future of Merrill-Lynch.
The $44.3B acquisition of Merrill-Lynch, formerly a financial management and advisory firm, came as the 7th largest acquisition in American history and a vanguard of the recession to come. The analyst, who was not available to give his name for publishing, said that through the merger was difficult for upper management, it gave the firm stability against the coming economic downturn that "shadow banks" (banks without a depository arm, such as the pre-recession Goldman Sachs or J.P. Morgan) could not enjoy.
Recommending that graduates of ASU first try to purchase a house then work to establish 6 month liquidity, he advised against investing large amounts of capital, as a student, into stocks and bonds. Wealth management experts advise establishing oneself before pursuing growth strategies.
Neta Berger, the Spring 2009 Senior Vice President, learned "how to invest [her] assets in a way that matche[d her] goals both today as a student and tomorrow as a businessperson."
Delta Sigma Pi will continue its relationship with the financial advisory business in the spring via an investment strategy workshop. Dinner was provided by Uno's Pizzeria.
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