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Joined: 2013-02-06 12:44:55
Points: 15
Online Stock Broker Reviews: 1
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Online Stock Broker Reviews By Ria14444
by Ria14444 ( 15 ) on 2013-02-06 12:45:40
Bank of America/Merrill lynch branded Merrill edge trading platform is one of the weakest in the market. Pros: it's cheap, research is decent. Cons: everything else

I'll start with the positive: the research options are solid but FYI Merrill lynch analyst are often more wrong, and very wrong, than they are right. They do offer s&p and Morningstar reports along with Merrill reports, but if your research is in need of Morningstar and s&p reports just go to their websites and grab them. I will say the research options are solid; they are cheap, yes this is good, but you get what you pay for.

The not so good: customer service....good luck getting any timely help, knowledgable answers, or anything useful when calling the call center. If you call with the same questions and talk to 3 different people, you get three different answers. DO NOT call for investment advice, you pay more and you are getting advice from someone who is about as qualified as yourself.
Investment advice: Merrill edge financial solutions advisor or call center advice works on process. This means they are given a choice of about 50 MF, 15 etf, and stock recommendations come from their us 1 list only. Anything outside of that has to go through compliance approval and good luck getting your trade done that day. If you are self-directed then you know there is no advice platform and nor should there be.
Customer service: the worst thing to happen to Merrill lynch was Bank of America purchasing them. That's when the investment client customer service went away, and they figure they could license a bunch of personal bankers or bank associates and "qualify" them to give advice.
If you choose Merrill edge just be prepared to pay the 95 dollar exit fee when you move your funds to another broker.


 
 
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