There is no "if/then" option in the mergefields, so if the person does not have a PREFERRED NAME then the name field is BLANK, and if they do then this means that we are forced to send to formal name which is impersonal.
Also, the mergefields are only able to be tested if you send an actual email to a constituent, forcing us to send actual emails to a test list (internal staff) which is throwing off our statistics area.