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. Three good options. Join. Here is the full "available mutual fund list" from my employer: http://pastebin.com/raw.php?i=uETBmcaH. Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. 5. ⦠As the portfolio composition changes due to varying fund performance within the models, Merril Lynch will "rebalance" automatically on a quarterly basis. Retirement. 2. share. So my first question: is it a sound decision to now enroll in this 401k offering, after maxing IRA? 6 comments. Close. Posted by 7 years ago. intra-day holdings, activity, including pending and settled transactions, and access and download up to seven years of statements ⦠I've always turned it down (in favor of IRA) due to the fact that it had an annual 1-2% ⦠Having an advisor isn't for everyone and unfortunately there is more bad than good in our industry, but make sure you do a lot of research on whoever you are considering working with, ask about all fees, what their track record is, if they are acting in a fiduciary capacity, and make sure they have a clean record with the SEC. Yes, you can go online to a roboadvisor or use cheap vanguard funds and probably do just fine. How hard is this to take in and learn? hide. ... Also, if you have any other input here, I'd love to hear it. 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 . Log In Sign Up. I recently used a Merrill Lynch LMA to buy a place. I'm currently a Bank of America customer and have had several calls from these guys already. You should consult your legal and/or tax advisors before making any financial decisions. Archived. It's not worth it. Find an independent CFP. level 2. My employer has offered me an automatically managed Merrill Lynch fund for many years. Join. Posted by 5 years ago. I will definitely look into this "Betterment" option you mentioned. 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. 75% Upvoted. Thatâs why your company offers Advice Access. The minute this benefit gets canceled, I'll be severing my ties with ML. This is my portfolio managed by Merrill Lynch. What is the end goal for this money? Merrill Lynch Wealth Management is a national investment advisory firm with offices in most major and mid-sized U.S. cities. Visit . 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. 1.2m members. 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. 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). Appreciate the heads up. Plan your career in the wide world ⦠This doesn't sound like I should trust them to be honest. If you are very uncomfortable with investing and fear making a mistake then it might be worth it for you to go to them. 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. Investment advisor registration does not imply a certain level of skill or training. 161k members. Retirement. I'm literally financially illiterate and this much money scares me into thinking I will flush it all down the drain. 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. 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. Retirement? So there incentive to actually care is zero. We believe investors can benefit from our advice, access to the investment insights offered by Merrill, trust and fiduciary services from Bank of America Private Bank and the banking convenience of Bank of America. report. 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. 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. (no employer match, but tax deductible ... goal here is to drastically reduce my 2015 taxable income to start with by maxing out the 401k in the next 3 months), Assuming your answer to that question is "yes", then I could use a little help picking Merrill Lynch fund(s) to invest in. Posts about Merrill Lynch. Advice Access offers participants numerous choices in managing their retirement accounts. 2. This year, however, I see a check box on the enrollment paperwork that says "Do you want us to manage your account for you?" 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. â â Benefit from an expert retirement strategy. 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. So much useful info presented here. Buy some Index Funds and forget about it. House? 4 years ago. ⦠It has 1.81% expense ratio and has underperformed S&P 500. Finally Enrolling in Employer's Merrill Lynch 401k - Fund Advice. Bank of America, Merrill, their affiliates, and advisors do not provide legal, tax, or accounting advice. Opinions on Merrill Lynch 401k automatic rebalancing. Something else? Three good options. Just buy low-fee ETFs or put the money into some low-fee mutual funds. But many people need help making investment decisions. and I have the option to select "No". Thank you and yes you are also right on the mark. Bank of America menu . 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. Press question mark to learn the rest of the keyboard shortcuts. If you are young and don't need that money anytime in the next 10 years then invest it all in ETFs. Merrill Lynch Wealth Management clients with greater than $250,000 in assets with Bank of America and Merrill are not eligible for Preferred Rewards but have access to other benefits through Preferred Rewards for Wealth Management. And do n't need much help reimburses me for expenses towards financial management. 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