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Anyone ever started an investment account with Merrill Lynch?

  • Just curious if a 1% percent quarterly fee was pretty fair for 250,000 in assets? TIA.

    jbird155

  • Yeah, if you're really insecure and you feel the need to go with a brokerage house to make you feel like you've made a good decision, go with Merrill. Be prepared for them to invest you in any company that their New York guys have a large stake in. Not a good firm anymore IMO.
    If you've only got 250k go to a a local person, Edward Jones or something where you matter. Merrill is gonna throw you on the scrapheap with all the other low rent (by their standards) people they represent.

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    SCarcock ●

  • stevecook229 said...

    Yeah, if you're really insecure and you feel the need to go with a brokerage house to make you feel like you've made a good decision, go with Merrill. Be prepared for them to invest you in any company that their New York guys have a large stake in. Not a good firm anymore IMO. If you've only got 250k go to a a local person, Edward Jones or something where you matter. Merrill is gonna throw you on the scrapheap with all the other low rent (by their standards) people they represent.

    have to agree with most of what stevecook229 says but i do know some really great guys that use Merrill ; he is right that they push investments that their NY guys have stakes in sometimes to the detriment of your portfolio ....

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    shoeless7777

  • stevecook229 said...

    Yeah, if you're really insecure and you feel the need to go with a brokerage house to make you feel like you've made a good decision, go with Merrill. Be prepared for them to invest you in any company that their New York guys have a large stake in. Not a good firm anymore IMO. If you've only got 250k go to a a local person, Edward Jones or something where you matter. Merrill is gonna throw you on the scrapheap with all the other low rent (by their standards) people they represent.

    Well, I am an Officer in the military and move every 3 years, so I dont really have a "local guy".

    jbird155

  • jbird155 said...

    Well, I am an Officer in the military and move every 3 years, so I dont really have a "local guy".

    I understand that. When I worked for Merrill we had alot of military guys. I remember one guy, a 45 year old Marine and I looked at his portfolio and he was worth $1.3 million just by investing almost his whole salary every year. I guess he was single.
    I would look into a smaller firm though. Hell I manage most of my investments on sharebuilder.com It's through ING and it's great.

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    SCarcock ●

  • I work for ING and we charge around 1.65 per year. Unless you have at least 500k investable, look at getting a Scottrade account. I can give you our stock buy list if you want.

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    Clemson ●

  • Clemson said...

    I work for ING and we charge around 1.65 per year. Unless you have at least 500k investable, look at getting a Scottrade account. I can give you our stock buy list if you want.

    that would be great Clemson if you dont mind - trying to make some trades for the last half of the year and i have no idea where to go these days , thanks

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    shoeless7777

  • jbird155 said...

    Just curious if a 1% percent quarterly fee was pretty fair for 250,000 in assets? TIA.

    I used to work for ML, should u use them be careful they don't churn and burn you. For the longest time guys would do it to build commissions unethical or not.

    This post was edited by eskelies on 7/14/2011 at 7:50 AM

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    eskelies

  • Clemson said...

    I work for ING and we charge around 1.65 per year. Unless you have at least 500k investable, look at getting a Scottrade account. I can give you our stock buy list if you want.

    I was really drunk when I gave this advice, so it's not 100% accurate. We have clients that only have 250k and it is worth it to them to have a financial adviser. You just have to make sure the costs associated with said adviser aren't more than you are making on the accounts.

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    Clemson ●

  • Who the f word ?

    That a bookie? If so give me the name... that vig is really low

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    www.yohoodent.com ... errybawdee awn ignorle

    GoingLightBarny

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