Some programs have stepped pricing schedules that give discounts to customers with sufficient assets. The low range is at 0.40% per annum for a fixed-income portfolio, while the high end is at 1.75%, which would be for an equity portfolio. There are a variety of bundles with their various pricing schedules for Merrill Lynch Wealth Management. Once again, Bank of America accounts are automatically linked. Mobile check deposit operates in a similar fashion. And there is a document upload tool that uses the phone’s camera to send a document to the advisor. Email, phone, and internal messaging are all possibilities. It has contact tools to reach out to the account’s assigned financial advisor. This mobile platform is designed exclusively for investment-advisory clients. It’s even possible to transfer funds from a securities account to a credit card with Bank of America. These include a graph that shows an account’s balance and a contact tool to reach out to the attached financial advisor.Īccounts with Bank of America will be automatically linked to any investment accounts with Merrill, and transferring funds among all these accounts is quite easy. The Merrill website has several resources that can be used to monitor an account. Not every account setup will be eligible for every asset class, however.īesides the dedicated financial advisor, Wealth Management customers get access to digital tools that can be used in either investment-advisory or self-directed mode. Merrill Lynch also delivers a long list of investment vehicles. Socially-responsible investment strategies.Specialized services for athletes and entertainers.Coordination with outside attorneys and accountants.Lending and banking services though Bank of America.Of course, many other issues will be discussed, including program details, costs, and investment goals to be pursued.Īs a full-service investment program, Merrill Lynch Wealth Management delivers a lot of personalized financial services that won’t be found through robo or self-directed approaches. It is at this appointment that an account would be opened. One of these should be used to set up an appointment. Background information is shown for each advisor, and there are contact links (phone, email, and LinkedIn). It’s also possible to search by zip code (look for the “By Office” tab). There is a map on each state’s profile page (look for the red button to “show map”) that will display the locations of these offices. Simply click on your state and scroll through the available choices. The easiest way to locate an advisor is to use Merrill Lynch’s search tool on its website. In total, there are more than 15,000 advisors. Some territories, like Guam and Puerto Rico, have some, too. Merrill Lynch has brick-and-mortar locations in most U.S. Remember, this is an old-school, traditional program with a lot of guidance and hand holding. It is not possible to open an account online. The investment firm has branches around the world.Įvery Merrill Lynch account must be opened through a branch office with a financial advisor. Merrill Lynch will open accounts for U.S. ![]() These include not only Roth and Traditional accounts but also Inherited, SEP, and SIMPLE plans. Merrill Lynch offers 529 plans, IRAs, estate accounts, small business 401k plans, trusts, custodial accounts, and more. ![]() In either mode, there are a variety of tax structures that can be used. The standard arrangement is for the account to be a full discretionary account where the financial advisor makes actual trading decisions on behalf of the client. With any setup, the account will always have a financial planner attached to it. Despite this focus, it is possible to open a Merrill Lynch account as a self-directed or non-discretionary managed account. Their task is to help their clients invest their assets and make sound financial decisions. The Merrill Lynch Wealth Management program is an old-school service with actual human investment advisors. ![]() The cost is reasonable, and there are many perks, too. ![]() Lynch self-directed account review, go toįull-service financial planning and investment management are available at Merrill Lynch. The following review applies to Merrill Lynch wealth management account. Merrill Lynch wealth management review, fee schedule, financial advisor minimum account investment. Merrill Lynch Wealth Management Review (2023)
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