Topic on Reddit. 7.3m members /r/Politics is for news and discussion about U.S. politics. I bought the place with cash from the LMA then refinanced into a mortgage with Bank of America. r/FinancialCareers. It provides specific, personalized recommendations to help you develop a strategy thatâs right for you. ... That said, I underestimated the stress of being disconnected from my money, and I needed some advice to educate myself and take back control. As a subsidiary of Bank of America, one of the largest commercial banks in the world, Merrill Lynch has vast resources that its investment advisors can use to maximize client returns. Sounds like you have a good deal with the company and I'd do the same myself. I have six figures just sitting in my checking and it's driving me insane as to what to do with it. 2. Buy some Index Funds and forget about it. www.sipc.org. They aren't portfolio managers or do much complex planning. 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. Why haven't you invested that money already ? Frequently Asked Questions What is Merrill Lynch OnLine? Thatâs why your company offers Advice Access. share. My employer has offered me an automatically managed Merrill Lynch fund for many years. card. 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. ADVICE ACCESS FOR YOUR 401(k) | 3 How Advice Access works: The power of strong financial management working for your participants Advice Access is a powerful goal-based tool that participants can choose to use on our website at BenefitsOnLine®, at our Call Center through a registered representative, or with a Merrill Lynch financial advisor. / Bank of America Merrill Lynch. Please speak with your Merrill Lynch financial advisor for details. Key data includes: annual salary, state of residence, gender and date of birth. Keep in mind switching over to another brokerage from Merrill will cost me 50$ to close the account. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. 2. Bank of America âWhy Bank of America?â How graduates and students should answer this question . I've always turned it down (in favor of IRA) due to the fact that it had an annual 1-2% ⦠Three good options. When it comes to your success, thereâs only one financial approach that really matters â yours. 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. Would anyone happen to know? So there incentive to actually care is zero. Clients should consult their legal and/or tax advisors before making any financial decisions. Archived. While you can almost certainly learn to manage this money just fine yourself, if you would feel more comfortable with some assistance, look for a 'fee-only' advisor. 161k members. Yes, you can go online to a roboadvisor or use cheap vanguard funds and probably do just fine. But many people need help making investment decisions. â â Get specific recommendations to improve the likelihood of reaching those goals. From my research I don't think there's a Merrill Edge equivalent to VTSAX or VTI. Find an independent CFP. Close. save. Customer support: Investors with Merrill Edge Guided Investing have access to the same customer support that Merrill Edge clients receive: In ⦠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 . 1.2m members. Press question mark to learn the rest of the keyboard shortcuts. News and discussion about economics, from the perspective of economists. You can also go online as there are now good robot advisors (like Betterment). Merrill Lynch Wealth Management is a national investment advisory firm with offices in most major and mid-sized U.S. cities. 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. Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. 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.. My company reimburses me for expenses towards financial planning/wealth management so I keep them around. 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. I'll skip over the $25k minimum for a pattern day trader as that's already been addressed and you should be very careful, but that said, if you want to day trade I would suggest using a platform such as Interactive Brokers as opposed to Merrill Lynch just from a cost standpoint. â â Benefit from an expert retirement strategy. What is the end goal for this money? If you want an ivy-league-educated kid to be your servant, and millions of dollars to spare, you can park a few million dollars at a big bank to get a "personal banker," but in return for the favors and free meals, you have to buy terrible investment products. 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. 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. Your Merrill Lynch Wealth Management Advisor provides you with personalized attention and objective investment advice to help grow and preserve your wealth. Can you help find a similar fund to invest in with my 401k at Merrill Lynch? 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. ⦠In terms of will they do a good job and is completely individual. Retirement. hide. Finally Enrolling in Employer's Merrill Lynch 401k - Fund Advice. 5. Almost all investment vehicules are made off of bonds and equities and perform below what you can expect due to management fees. With Advice Access you can: â â Understand if you are on track with your financial goals. In my IRAs, I currently just stick with a simple target retirement fund (VFFVX - Target 2055 Fund). 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). 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 ... Also, if you have any other input here, I'd love to hear it. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. My job's 401k is through Merrill Lynch and they automatically enroll you in this "advice access personal manager" which adjusts your portfolio every ⦠Press J to jump to the feed.