What purpose initially motivated Merril Lynch to offer money market mutual funds to its customers?

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What purpose initially motivated Merril Lynch to offer money market mutual funds to its customers?



Answer: Merril Lynch initially felt that it could better service it's regular customers by making it easier to buy and sell securities from an account held at the brokerage house. The brokerage could offer a market interest rate on these funds by investing them in the money markets.

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