What is the difference between the two brokers Merrill Lynch and Merrill Edge? - Brokereveiws Financial Community Discussions (2024)

FAQs

What is difference between Merrill Lynch and Merrill Edge? ›

Merrill Lynch brokers are encouraged to focus on building and retaining relationships with wealthy clients. Merrill Edge is a discount online broker that has no account minimum and $0 commission stock and ETF trades while still providing some access to Merrill Lynch's research and tools.

Merrill Edge is an electronic trading platform and investment advisory service that provides self-directed and guided investment options for individuals and businesses. It is a subsidiary of Bank of America and was launched in 2010 after the merger between Merrill Lynch and Bank of America.

(MESD) www.merrilledge.com. A brokerage account type established by you via an online platform whereby you can engage in a self-directed. investing by entering your own trades with access to research and insights, guided tools and market information.

Merrill Edge - Online Investing, Trading, Brokerage and Advice.

You can open the following product/account types or convert existing accounts to Merrill Guided Investing: Individual, Joint and Custodial (UTMA/UGMA) brokerage accounts, traditional IRAs, Roth IRAs, SEP and SIMPLE IRAs. You can also roll over a 401(k) or other employer-sponsored retirement plan.

Merrill Lynch & Co. is the former name of a prominent Wall Street investment firm. Since its acquisition by Bank of America (BAC) in 2009, it has become known simply as “Merrill” and operates as a wealth management division of Bank of America.

Merrill Edge MarketPro® - Online Trading Platform.

Bank of America is downgrading the iconic “Merrill Lynch” name as part of Chief Executive Brian Moynihan's effort to rebrand the company under a single title.

Fees Under Merrill Edge

Like much of the brokerage landscape, Merrill Edge has an extremely low-cost trading fee schedule. In fact, stocks, ETFs and options are available for $0 per trade. There is no minimum deposit necessary to join Merrill Edge, and the firm does not charge annual account fees.

Is Merrill Lynch a full service broker? ›

Merrill is both a full-service registered broker-dealer and SEC-registered investment adviser. We offer a wide variety of brokerage and investment advisory products and solutions.

Our take on Merrill Edge

Merrill Edge offers low trading fees, including commission-free stock and ETF trades. The account opening process is fast and seamless. The broker is considered highly reliable due to the established reputation of its parent company, Bank of America. It is a good choice for beginner investors.

Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (Form CRS) (PDF).

Your Individual brokerage account has no minimum balance requirement and no annual account fee. Additional transaction, service or investment fees may apply.

The firm also acts as a broker-dealer. The bottom line: Merrill Lynch Wealth Management, the advisory arm of the massive Bank of America Corporation, offers portfolio and wealth management to individuals and businesses. All information included in this profile is accurate as of September 16, 2021.

On June 21, 2010, the company launched Merrill Edge, an electronic trading platform.

U.S. Trust, Bank of America's private bank which caters to ultra-high net worth clients, will become Bank of America Private bank, and Merrill Lynch Private Banking & Investment Group will become Merrill Private Wealth Management, dropping the “Lynch.” In the past, rebranding has faced some opposition.

The rebranding marks BofA's biggest step away from the legendary 105-year-old firm known for its “thundering herd” of brokers since the two companies unexpectedly merged in 2009 during the throes of the financial crisis. BofA wants “growth on a unified basis,” Moynihan said in a statement Monday.

Merrill Edge is a good choice for long-term investors, especially those who already have an account with Bank of America. The Preferred Rewards program offers discounts and perks that increase with your balance—so you could benefit by having deposit and investment accounts under the same roof.