Can you help find a similar fund to invest in with my 401k at Merrill Lynch? Doing all this myself doesn't give me a lot of confidence with the amount involved. So there incentive to actually care is zero. Merrill offers a broad range of brokerage, ⦠Merrill Lynch does help them but in the end they are the ones presenting and giving advice and it varies wildly with any brokerage firm. Merrill Lynch Wealth Management is among the largest provider of wealth management and investment services for individuals ⦠Press question mark to learn the rest of the keyboard shortcuts, http://www.investopedia.com/articles/investing/102014/feeonly-financial-advisers-what-you-need-know.asp?lgl=bt1tn-no-textnote. Your Merrill Lynch Wealth Management Advisor provides you with personalized attention and objective investment advice to help grow and preserve your wealth. Merrill Lynch Wealth Management is a national investment advisory firm with offices in most major and mid-sized U.S. cities. they will keep calling you as the bank gives the advisors information on who has large sums of money sitting at the bank.....just an FYI. They aren't portfolio managers or do much complex planning. Merrill Lynch is the wealth management division of Bank of America. Understanding you and your family Your advisor takes the time to learn about what matters most to you and your family when it comes to your finances and your life, because if itâs important to you, itâs important to us. My employer has offered me an automatically managed Merrill Lynch fund for many years. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. Plan your career in the wide world ⦠Silver hits eight-year high as Reddit frenzy turns to commodities Small investors warned of huge losses after thousands pile in, with some hoping that increasing its price could hurt large investors ⦠This doesn't sound like I should trust them to be honest. I since moved over to an independent registered investment advisor, and it's a better platform for clients in my opinion because clients only pay a flat percentage for full investment management, financial planning, and there are no trade commissions. Merrill Lynch, Pierce, Fenner & Smith Incorporated (referred to as Merrill or we) is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser, and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which is described at . It has 1.81% expense ratio and has underperformed S&P 500. A couple months? IB's commissions are crazy low - you can trade for as little as a $1 per trade. Both are ⦠When I inquired about this, I was told that if I choose "No", I can avoid the management fee, but it will be up to me to choose my funds and re-balance when necessary (which I'm obviously fine with ... ala IRA). Bank of America Merrill Lynch declined to comment on vendor relationships, but said that âour clients rely on us for world-class planning and advice, and having access to a ⦠At the time, I was fairly ignorant of financial management. â â Benefit from an expert retirement strategy. I used to be an advisor at Merrill, and can say avoid the guys in bank branches. save. From my research I don't think there's a Merrill Edge equivalent to VTSAX or VTI. Liking option 3 a lot better until I gain confidence doing it on my own. Report Save. With over over 17,000 financial advisors and $2.2 trillion in client assets Merrill Lynch is among largest full-service brokerage companies in the U.S. Visit Merrill Edge review ⦠News and discussion about economics, from the perspective of economists. Retirement. Customized investment advice ⦠Investment advisor registration does not imply a certain level of skill or training. Something else? Archived. If you are very uncomfortable with investing and fear making a mistake then it might be worth it for you to go to them. : Merrill Lynch OnLine is an Internet-based service that provides a 24 x 7 connection to Merrill Lynch, giving you access to your account balances, portfolio holdings, statements, stock quotes, news and research. MLPF&S and Managed Account Advisors LLC (âMAAâ) are registered investment advisors. www.sipc.org. I am feeling more confident with narrowing down my options now thanks to a few key phrases you mentioned with the track record and fid cap. 2. share. Appreciate the heads up. Join. I have six figures just sitting in my checking and it's driving me insane as to what to do with it. Merrill seems bad for broke boys like me but I do appreciate that I bank with BoA so it's convenient. Bank of America menu . Through the Merrill Lynch Investment Advisory Program, youâll have access to: A dedicated advisor who gets to know you Finally Enrolling in Employer's Merrill Lynch 401k - Fund Advice? Thank you and yes you are also right on the mark. Merrill, Merrill Lynch, and/or Merrill Edge investment advisory programs are offered by Merrill Lynch, Pierce, Fenner and Smith Incorporated (âMLPF&Sâ). Press question mark to learn the rest of the keyboard shortcuts. I'm literally financially illiterate and this much money scares me into thinking I will flush it all down the drain. 2. With Advice Access you can: â â Understand if you are on track with your financial goals. This is assuming you are comfortable picking your asset allocation, choosing funds, know which ETFs to choose, and know the percentage to allocate to each. Join. Posts. For Advice Access to effectively make savings and investment recommendations, it is critical that you provide key data to Bank of America Merrill Lynch for all eligible employees. This year, however, I see a check box on the enrollment paperwork that says "Do you want us to manage your account for you?" 161k members. Also keep in mind Merrill Lynch people don't make money if you have less the 250K. So there incentive to actually care is zero. Close. Join our community, read the PF Wiki, and get on top of your finances! At Merrill, you can choose from one or more programs and services based on your individual objectives, investment style, need for ongoing advice and interest in particular solutions.. They also have access to one-on-one guidance and competitive pricing for online trades. ⦠But many people need help making investment decisions. Keep in mind switching over to another brokerage from Merrill will cost me 50$ to close the account. I recently used a Merrill Lynch LMA to buy a place. Buy some Index Funds and forget about it. I'm currently a Bank of America customer and have had several calls from these guys already. Would anyone happen to know? Merrill provides products and services to various employers, their employees and other individuals. A roboadvisor will take care of these decisions for you, but you won't have access to a live person should you have any questions. About; Employee profiles; Interview tips; Featured; Donât just write, âI notice you have won nine awards for innovation and excellence from trade publication Treasury Management International, and I admire thatâ. You should consult your legal and/or tax advisors before making any financial decisions. Close. Thatâs why your company offers Advice Access. Visit. One gotcha with this approach is that you only have so long to do the mortgage with ⦠I use ⦠If you are young and don't need that money anytime in the next 10 years then invest it all in ETFs. Avis Budget, in 2009, implemented the Advice Access service offered by its provider Bank of America Merrill Lynch. Merrill Lynch Life Agency Inc. ("MLLA") is a licensed insurance agency and wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. The minute this benefit gets canceled, I'll be severing my ties with ML. I've always turned it down (in favor of IRA) due to the fact that it had an annual 1-2% ⦠⦠Finally Enrolling in Employer's Merrill Lynch 401k - Fund Advice. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. Please speak with your Merrill Lynch financial advisor for details. He pointed to how much more quickly Merrill Lynch advisors can now put together presentations for client meetings. Log In Sign Up. And for Merrill Lynch specific accounts, view your. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Merrill Lynch, Pierce, Fenner & Smith Incorporated (referred to as Merrill or we) is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and an investment adviser, and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which is described at . Just buy low-fee ETFs or put the money into some low-fee mutual funds. User account menu. House? Three good options. 4 years ago. When it comes to your success, thereâs only one financial approach that really matters â yours. They will charge you for your time, but will not be selling you anything so there isn't a conflict of interest there.http://www.investopedia.com/articles/investing/102014/feeonly-financial-advisers-what-you-need-know.asp?lgl=bt1tn-no-textnote. I met with one of them five weeks ago and the posh office and super expensive suits just gave me a bad vibe all together. ⦠Delivered in person, on the phone or online, Advice Access recommends an appropriate contribution rate, asset allocation and investment options based on the investment funds in the Avis Budget 401(k) plans.
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