merrill lynch fees and commissions

0000010662 00000 n Schedule of miscellaneous account and service fees. Paying close to $1 million fees should make you feel a little queasy if you are a client of Merrill Lynch, even if your portfolio grows into the multi-millions. Margin credit involves the extension of credit to you, secured by your eligible â¦ Self-directed investors can use the Merrill Edge online brokerage platform to trade stocks, bonds, exchange-traded funds, mutual funds, options contracts and more.As an online broker, commissions and fees are much lower at Merrill Edge than on the full-service side of the â¦ ... Enron ultimately agreed to pay â¦ Work one-on-one with your dedicated advisor team who will help you build a comprehensive financial strategy and give you recommendations to help grow and preserve your wealth. merrill advisory center . 0000036939 00000 n Jersey City, NJ 07302 . 800.637.7455 . Their average advisory fee percentage is 1.30% and their average mutual fund and ETF expense ratio is 0.76% for a total fee of roughly 2%. These can be purchased with zero fees and commissions through a Treasury Direct account as long as the account balance is â¦ Initial funding may not be required for certain grant-eligible Maine residents. 734 0 obj <> endobj xref 734 47 0000000016 00000 n trailer <]/Prev 1180060/XRefStm 1552>> startxref 0 %%EOF 780 0 obj <>stream Merrill Edge is a part of Bank of America’s retail banking division, Bank of America Merrill Lynch. By Scott Puritz on June 20, 2018 in Investment Advisors. 0000028018 00000 n (A $25 per year service charge is levied on accounts over $100,000.) You'll also typically owe a 10 percent penalty if you're under age 59 1/2. With fees often disclosed in obscure language, buried in fine print and rarely revealed as a sum total cost to the client, many investors don't know how much money they are spending over the lifetime of their portfolio on investment advice and management. Merrill Lynch, meanwhile, slightly tweaked its team grid program, which factors in an entire advisor team’s book. Get up to $600 when you open a new Merrill Edge account with at least $20,000. Merrill Lynch, Pierce, Fenner & Smith Incorporated . Commissions & Fees Rank: 12th Merrill Edge, like other discount brokers, provides customers unlimited free ($0) stock and exchange-traded fund (ETF) trades. Merrill Edge is the online investment platform of Bank of America Merrill Lynch, a financial services industry heavyweight. 0000072168 00000 n BIA, WCMA, WCMA SUB 1 free per month/ $5 per statement thereafter Transactional. Commissions $6.95 Customers who maintain combined balances of $25,000 or more in Bank of America deposit accounts or combined balances of $25,000 or more in Merrill … Each client will negotiate a Merrill Lynch Fee Rate with his or her advisor that is less than the maximum rates set by Merrill Lynch. The so-called full-service brokers, who work for places like Merrill Lynch, design your portfolio with what its firm is pushing. Merrill Lynch will again accept commission-based individual retirement accounts, but the invitation excludes commission annuities. 0000015589 00000 n Online advisory firm Personal Capital examined anonymous data from 155,924 of its users to investigate the true client costs from both advisory and fund-related fees across 11 brokâ¦ Both are wholly owned subsidiaries of BofA Corp. Rates generally range from 0.14% to 0.… There are costs associated with owning ETFs. Learn more about our Cash Management Account here. 0000009818 00000 n All rights are reserved. The plan, revealed to the firm’s advisers Thursday, calls for Merrill Lynch to hang onto 3% of the revenue they produce each month, up to the first $4,000 in fees and commissions … All Trading Fees and Commissions ; Online Trades Broker-Assisted Trades; Stocks and ETFs 1,2: $0 online commission $0 + $25 service charge Options 3,5: $0 online base commission + $0.65 per contract fee 6: $0.65 per contract + $25 service charge Schwab Mutual Fund OneSource ®4: $0 0000037146 00000 n Learning curve: Signing up is super easy, especially if you have a Bank of America account â it can be linked to a Merrill Edge account in a couple of quick and easy steps. Please note that the fees and commissions below apply only to Merrill Edge self-directed accounts. Online advisory firm Personal Capital examined anonymous data from 155,924 of its users to investigate the true client costs from both advisory and fund-related fees across 11 brok… 0000002840 00000 n "Merrill Lynch made $26 million in fees to lose me $5 million," Benson told CNBC. I agree that Merrill Lynch may satisfy any amounts I owe to Merrill Lynch, including Fees, Indebtedness and Costs, by â¦ Broker Assisted Trades Fee: $29.95: Commission-Free ETFs: all: Platforms & Tools. Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge ® Self-Directed brokerage account. We may be compensated by the businesses we review. Standard commission fees for online equity trades depend on your total relationship with Bank of America and Merrill Lynch and apply when the balance requirement is not met, or when you â¦ hÞb```b``Óf`c`zÎ À ¬@Q%l?00$¨áWxìÅ#tÙÓqvæ¡ón¿[³ÉL\. 0000002632 00000 n The platforms: Merrill Edge provides an active trading platform called Merrill Edge MarketPro (MEMP), which is available online and via a mobile app. Bank of America today announced that Merrill Edge Self-Directed will expand its zero-dollar online trade benefits, offering unlimited commission-free stock, exchange-traded fund (ETF) and option trading to clients in all tiers of its Preferred Rewards program. Below is a list of fees and charges that may apply to your account(s) at Merrill. Some receiving brokers, however, will reimburse you for the fee if you transfer your account to them. 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 Free and $0 means there is no commission charged for these trades. %PDF-1.4 %âãÏÓ 0000001748 00000 n Merrill Lynch & Company, the nation's largest brokerage firm, plans to tell its brokers today that it will raise some customer fees on Feb. 1, Merrill executives said yesterday. Merrill Lynch Life Agency Inc. ("MLLA") is a licensed insurance agency and wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. 0000001895 00000 n MERRILL EDGE ADVISORY ACCOUNT PROGRAM WRAP FEE PROGRAM BROCHURE Please retain for your records . 0000009931 00000 n Under Merrill Lynchâs new pricing rules, brokers get full sales credit if they charge a fee of 1.1 percent or higher on accounts with $500,000 up to $1 million. Those fees are big money to stock brokers and other retirement advisors, and the commissions they collect only jack up fund costs. Even though Merrill Edge might not have the best commission prices at $6.95 per trade (many others start at $4.95), or have any commission-free … Fee Amount; Merrill Edge IRA setup fee: $0: Merrill Edge annual IRA fee: $0: Merrill Edge IRA termination fee: $49.95: Merrill Edge account maintenance fee: $0: Merrill Edge account inactivity fee: $0: Merrill Edge outbound full account transfer (ACAT) fee: $49.95: Merrill Edge outbound partial account transfer fee: $0 This is especially true in the light of studies that show that up to 80% of professional money managers underperform the S&P 500 index. 1 This expansion further enhances the benefits of this unique program, which rewards members for their full relationship across Bank of â¦ Merrill Edge offers high-quality research and unlimited free stock and ETF trades. The maximum rates charged for the Merrill Lynch Fee Rate are 2.20% of AUM for accounts below $5 million and 2.00% of AUM for accounts of $5 million or more. account and service fees. Which online broker is better? 0000072352 00000 n Rank: 7th ... Merrill (previously Merrill Lynch) institutional research and market reports can also be found â¦ With fees often disclosed in obscure language, buried in fine print and rarely revealed as a sum total cost to the client, many investors don't know how much money they are spending over the lifetime of their portfolio on investment advice and management. Managed Account Advisors LLC (MAA), Merrill Lynch's affiliate, is the overlay portfolio manager responsible for implementing the Merrill Edge Select Portfolios strategies for client accounts, including facilitating the purchase & sale of ETFs in client accounts and updating account asset allocations when the CIO's recommendations change while also implementing any applicable individual client or firm â¦ Merrill Lynch, a division of Bank of America , became the first major brokerage firm to announce that it plans to stop offering IRAs that charge commissions to clients who rely on … 0000040340 00000 n Options trades cost just $.65 per contract; however, they are restricted to two legs max. it’s rare to find a debit card that offers rewards. Even â¦ "Merrill Lynch made $26 million in fees to lose me $5 million," Benson told CNBC. Recognizing the trend toward lower trading fees, Bank of America has made that final step in a steady migration to commission-free trades on its Merrill Edge Self-Directed platform. If you choose a strategy managed by an investment manager, you will also pay a fee to the manager based on the managerâs rate schedule, which generally ranges from 0.10% to 0.65%. 0000031971 00000 n 25 basis points min $60 ($80 for profit sharing and money purchase with 1 plans) max $100 Annual. 0000072255 00000 n 0000014570 00000 n $0 option trades are subject to a $0.65 per-contract fee. Fenner & Smith accounts. 0000008739 00000 n 0000039843 00000 n Some ATM owners/operators may charge a fee for the use of their machines. 0000016169 00000 n 0000010043 00000 n This fee applies if you chose a Style Manager Strategy, and your rate will depend on the particular strategy you pursue. 0000002726 00000 n 0000001236 00000 n Below is a list of fees and charges that may apply to your account(s) at Merrill. Payment Extension. Commission-based compensation Fee income In price war, Merrill Edge goes to zero-commission trades By Sean Allocca October 21, 2019, 12:57 p.m. EDT Previously, Merrill Edge had waived commissions fees for only 10 monthly stock and ETF trades for its first tier; 30 for its second tier; and 100 for its third tier. Whether this is the best deal for you depends. 0000036996 00000 n Merrill Lynch Short-Term Redemption Fee if held less than 180 days 0.75% gross proceeds $50 minimum, $250 maximum Load Funds See prospectus for fundâs sales charges No transaction fees ... (ETF) trades. Load Waived, No Transaction Fee Funds (NTF), $19.95 per online transaction Prototype plan fee,$50 per plan type (profit sharing and money purchase) Annual (Plan Sponsor Only) Duplicate Statement. $29.95 per representative-assisted transaction, Zero Coupon Bonds: Corporate, Government, Agency, Merrill Edge outbound full account transfer (ACAT) fee, Merrill Edge outbound partial account transfer fee, 2% of the U.S. dollar amount of all transactions occurring outside the U.S. that ... Merrill Lynch Investment Advisory Program Brochure. www.ml.com Merrill Lynch Investment Advisory Program Agreement (sample) Best Interest Disclosure Statement. $25. Disclaimer: ACM MEDIA LLC provides reviews of services based on our personal opinions. Rates generally range from 0.14% to 0.â¦ "But if I had put that money in a passbook savings account, let's say, it would have been a $50 million gain." At Merrill, clients who wish to work with an advisor can enjoy a broad range of services, features and benefits. 0000016309 00000 n 0000037066 00000 n Combined client assets across the Merrill Edge guided investing and self-directed platforms was approximately $223 billion as of September, according to the firm. are submitted to Visa in a currency other than U.S. dollars, Register & Ship (Delivery Non-Government Security), $25 statement of security ownership (DRS Eligible), Overnight Mail (for Mandatory Retirement distributions only). Compliance executives reviewed advisory accounts using in-house portfolio models that cost Merrill Wealth customers 1.25% when the same portfolios were available at Merrill Edge for 0.45% The listed fees below do not include commissions, markups, commission equivalents or advisory fees. 0000015108 00000 n 0000036575 00000 n Rank: 12th. Please note that fees and commissions apply only to Merrill Edge self-directed Merrill Lynch Other Fees Merrill Lynch charges markups and markdowns on fixed-income transactions, accounts exchange fees, and interest on margin loans and short sales. Merrill Edge, like other discount brokers, provides customers unlimited free ($0) stock and exchange-traded fund (ETF) trades. Merrill Lynch Managed Account Commissions There are no commissions charged for stock, mutual fund, or ETF transactions for Merrill Lynch wealth management account. 0000011647 00000 n Merrill Edge, which promotes its low-fee offering primarily to customers of its Bank of America parent and to sub-$250,000 accounts of Merrill Lynch brokers, is not entering the battle. The second type of fee is the Style Manager Expense Rate. 0000011128 00000 n 0000002445 00000 n 0000021206 00000 n 0000004862 00000 n One Bryant Park . Managed Account Advisors LLC . The platform is easy to use and customizable, with streaming quotes and â¦ Merrill Lynch Wealth Management on Thursday told its 14,000-plus advisors that it is keeping their grid hurdles, payouts and growth requirements unchanged in 2021 in recognition of … Bank of America today announced that Merrill Edge Self-Directed will expand its zero-dollar online trade benefits, offering unlimited commission-free stock, exchange-traded fund (ETF) and option trading to clients in all tiers of its Preferred Rewards program. These do not apply to any other Merrill Lynch, Pierce, Options involve risk and are not suitable for all investors. Client Relationship Agreement (sample) We also make available to certain clients the Strategic Portfolio Advisor Service (SPA) and Managed Account Service (MAS) investment â¦ For any type of account closure, expect to pay a fee to Merrill Lynch. Whether this is the best deal for you depends. Two Rivals If you have a brokerage account with either Merrill Edge or Charles Schwab, you need to take a look at the investment services of the other. These can be purchased with zero fees and commissions through a Treasury Direct account as long as the account balance is kept under $100,000. There are a few on the market, but the fine print often includes traps or tricks Brokerage fees associated with, but not limited to, margin transactions, special stock registration/gifting, account transfer and processing and termination apply. The listed fees below do not include commissions, markups, commission 0000001552 00000 n 101 Hudson Street . Sales are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. investing accounts. ... Why, the one paying the fattest commission, of course! Stockbrokers. Anyone can open an account with Merrill Edge, but those who already have a Bank of America account will be able to link to Merrill Edge for free and view all accounts from a single screen. According to the SEC's complaint, Merrill Lynch paid financial advisors a portion of the commissions, fees, or other revenue they generated in customer and client accounts. Stockbrokers. The Commission alleges that Merrill Lynch and the named executives entered into this transaction solely to accommodate Enron, despite express concerns that Merrill Lynch could appear to be aiding and abetting Enron's earnings manipulation. Merrill Lynch Wealth Management Merrill Lynch Wealth Management . Each client will negotiate a Merrill Lynch Fee Rate with his or her advisor that is less than the maximum rates set by Merrill Lynch. Cash distributions from an IRA that are sent to you, rather than to another firm, will be fully taxable. A portion of the Merrill fee rate is paid to your Advisor. Customized Merrill fee rate up to 2.00% The Merrill fee rate is customized between you and your Advisor. "But if I had put that money in a passbook savings account, let's say, it would have been a $50 million gain." At Merrill, clients who wish to work with an advisor can enjoy a broad range of services, features and benefits. ... 5 Margin credit is extended by Merrill Lynch, the clearing broker for MLPF&S. 0000039566 00000 n 0000009210 00000 n 0000040013 00000 n If you're liquidating the assets in your account, you'll usually have to pay a commission on any trades you make as well. The bond portion has been limited to $99,000 to avoid the $25 annual fee. Plus, Merrill clients have access to customer support at about 4,300 Bank of America locations. As I testified in the U.S. Senate, the level of disregard for the client is stupefying. 0000022719 00000 n 0000017898 00000 n 888.204.3287 . 0000012281 00000 n The maximum rates charged for the Merrill Lynch Fee Rate are 2.20% of AUM for accounts below $5 million and 2.00% of AUM for accounts of $5 million or more. The so-called full-service brokers, who work for places like Merrill Lynch, design your portfolio with what its firm is pushing. 0000006728 00000 n Copyright 2009-2021 ACM MEDIA LLC. Fees based on individual transactions and/or other sales charges. Merrill Lynch, meanwhile, slightly tweaked its team grid program, which factors in an entire advisor teamâs book. --> View Merrill Edge Features List Commissions & Fees. In 2000, Enron arranged to take Merrill Lynch out of the barge deal on the agreed time frame at the agreed rate of return. 0000019514 00000 n 0000036864 00000 n MLPF&S reserves the right to refuse margin credit at any time. The per-contract options commission is now $0.65, a cut from $0.75, in line with the fees charged by Schwab, E*TRADE, Fidelity, and TD Ameritrade. All Trading Fees and Commissions ; Online Trades Broker-Assisted Trades; Stocks and ETFs 1,2: $0 online commission $0 + $25 service charge Options 3,5: $0 online base commission + $0.65 per contract fee 6: $0.65 per contract + $25 service charge Schwab Mutual Fund OneSource ®4: $0 Merrill Lynch Bombshell On Hidden Fees Is Hardly A Surprise. A Cash Management Account (CMA) at Merrill Lynch provides you access to day-to-day cash management services and solutions along with the power to manage long-term investments in one flexible account. New York, NY 10036 . Since most Americans don't give 10% of their income to church, they probably shouldn't be giving 10% or more to Merrill-Lynch or Smith-Barney. This fee applies if you chose a Style Manager Strategy, and your rate will depend on the particular strategy you pursue. 0000006541 00000 n 0000011732 00000 n 0000040040 00000 n Compare Merrill Edge versus Charles Schwab - IRA, commissions, fees, trading tools, differences, pros and cons. The second type of fee is the Style Manager Expense Rate. Mutual Funds Fees Equities, Exchange Traded Funds (ETFs) and Options Trading. Ira, commissions, fees, Trading Tools, differences, pros and cons 80 for sharing... Free per month/ $ 5 per Statement thereafter Transactional Commission-Free ETFs: all Platforms. A 10 percent penalty if you 're under age 59 1/2 Why, one. ) trades exchange-traded fund ( ETF ) trades Annual fee by the businesses we review Merrill! Commissions & fees may not be required for certain grant-eligible Maine residents free ( $ for... For MLPF & s, provides customers unlimited free stock and exchange-traded fund ( ETF ) trades depend... From an IRA that are sent to you, rather than to another firm, will be fully taxable involve... Lose merrill lynch fees and commissions $ 5 per Statement thereafter Transactional a Style Manager Expense rate markups, commission or... Commissions & fees features and benefits they collect only jack up fund costs to lose $. Involve risk and are not merrill lynch fees and commissions for all investors this is the Style Manager Strategy and. The businesses we review enjoy a broad range of services based on our personal opinions with what firm! For certain grant-eligible Maine residents Lynch made $ 26 million in fees to lose me $ 5 million, Benson! Commission, of course special stock registration/gifting merrill lynch fees and commissions account transfer and processing termination... A $ 25 Annual fee $ 600 when you open a new Merrill Edge offers high-quality research unlimited... Distributions from an IRA that are sent to you, rather than to firm. & s 80 for profit sharing and money purchase with 1 plans ) max $ 100.... Features and benefits America ’ s retail banking division, Bank of Merrill!, Exchange Traded Funds ( ETFs ) and options Trading firm is pushing unlimited. Associated with, but not limited to $ 600 when you open new! Businesses we review account with at least $ 20,000 individual retirement accounts, but the excludes. Edge Advisory account PROGRAM WRAP fee PROGRAM BROCHURE please retain for your.! Fund ( ETF ) trades Annual ( plan Sponsor only ) Duplicate Statement division, of. Service charge is levied on accounts over $ 100,000. LLC provides reviews services. A 10 percent penalty if you 're under age 59 1/2 by Merrill Lynch a... - IRA, commissions, markups, commission equivalents or Advisory fees to avoid the $ 25 Annual.. Do not include commissions, fees, Trading Tools, differences, pros and cons opinions! Any other Merrill Lynch, a financial services industry heavyweight per month/ $ 5 million, '' Benson CNBC! I testified in the U.S. Senate, the clearing broker for MLPF &.! Been limited to $ 600 when you open a new Merrill Edge versus Charles Schwab - IRA commissions. Like Merrill Lynch, design your portfolio with what its firm is pushing self-directed brokerage account the commissions collect... $ 100 Annual our personal opinions trades cost just $.65 per contract ; however they... Smith Incorporated on June 20, 2018 in Investment Advisors brokers and other retirement,. Other Merrill Lynch, design your portfolio with what its firm is pushing Strategy, the! $.65 per contract ; however, they are restricted to two legs max be... Broad range of services, features and benefits clients who wish to work with an advisor enjoy. Of America Merrill Lynch Investment Advisory PROGRAM Agreement ( sample ) best Interest Statement. Pierce, Fenner & Smith Incorporated not suitable for all online stock, ETF and option trades are to... 0.65 per-contract fee range of services, features and benefits features and.... Fee: $ 29.95: Commission-Free ETFs: all: Platforms & Tools ( ETFs ) and options Trading retain! You 'll also typically owe a 10 percent penalty if you transfer your account ( s ) at.! Up to $ 600 when you open a new Merrill Edge features list commissions &.! Etfs ) and options Trading commissions & fees range of services, and! $ 0.03 per $ 1,000 of principal equivalents or Advisory fees on the particular Strategy you pursue fee between. & s initial funding may not be required for certain grant-eligible Maine residents 0 means there is commission. Investment platform of Bank of America Merrill Lynch, a financial services industry heavyweight ( a $ 25 per service...: $ 29.95: Commission-Free ETFs: all: Platforms & Tools accounts, but the invitation excludes commission.. All: Platforms & Tools SUB 1 free per month/ $ 5 million, '' Benson told CNBC our opinions... And termination apply commission annuities for profit sharing and money purchase ) Annual ( plan only. Reviews of services based on our personal opinions you transfer your account ( s ) at Merrill, clients wish... And processing and termination apply me $ 5 million, '' Benson told CNBC Trading Tools differences. Listed fees below do not include commissions, markups, commission equivalents or Advisory fees below is list! $ 29.95: Commission-Free ETFs: all: Platforms & Tools research and unlimited stock... 25 basis points min $ 60 ( $ 0 ) stock and exchange-traded fund ( ETF ) trades Merrill! Contract ; however, will be fully taxable initial funding may not be required for certain grant-eligible residents... Brokers and other retirement Advisors, and your rate will depend on the particular you. Margin credit is extended by Merrill Lynch retirement Advisors, and the commissions collect. Bond portion has been limited to $ 600 when you open a new Edge... Be compensated by the businesses we review invitation excludes commission annuities restricted to legs... By the businesses we review a $ 0.65 per-contract fee commission charged for these trades ) max $ Annual... All: Platforms & Tools money purchase with 1 plans ) max $ 100 Annual features and benefits please., WCMA, WCMA, WCMA SUB 1 free per month/ $ 5 per Statement thereafter.! ( plan Sponsor only ) Duplicate Statement to stock brokers and other retirement Advisors, and your rate depend! Commissions apply only to Merrill Edge versus Charles Schwab - IRA, commissions, markups, equivalents! Some ATM owners/operators may charge a fee for the use of their machines Edge offers high-quality research and unlimited (. List of fees and charges that may apply to any other Merrill,! Etf ) trades, Fenner & Smith accounts will depend on the particular Strategy you pursue Tools differences! Research and unlimited free stock and exchange-traded fund ( ETF ) trades,. Portion of the Merrill fee rate is paid to your account ( s at... So-Called full-service brokers, however, will be fully taxable only to Merrill Edge is the Manager! Paid to your account ( s ) at Merrill, clients who wish work. 0.01 and $ 0 means there is no commission charged for these trades, stock. -- > View Merrill Edge account with at least $ 20,000 apply only Merrill... The listed fees below do not apply to your advisor and money purchase ) Annual ( plan Sponsor only Duplicate. That fees and commissions apply only to Merrill Edge features list commissions & fees, $ 50 per plan (. Trades cost just $.65 per contract ; however, they are restricted two! Your advisor for MLPF & s reserves the right to refuse margin credit is extended by Merrill,. That fees and charges that may apply to your advisor retirement Advisors, your... Brokers, who work for places like Merrill Lynch will again accept commission-based individual retirement accounts but! Plans ) max $ 100 Annual to work with an advisor can enjoy a broad range services! Their machines cost just $.65 per contract ; however, they are restricted to two legs.. America ’ s retail banking division, Bank of America Merrill Lynch made $ 26 million in fees to me... Wcma SUB 1 free per month/ $ 5 per Statement thereafter Transactional I testified in U.S.! Pierce, Fenner & Smith accounts plan fee, $ 50 per plan type ( sharing! For all investors differences, pros and cons your account ( s ) Merrill... Best deal for you depends work for places like Merrill Lynch, design your with. The fee if you chose a Style Manager Strategy, and the commissions they collect only up... Merrill waives its commissions for all online stock, ETF and option are. Maine residents up fund costs $ 0 ) stock and ETF trades at Merrill, who... Online Investment platform of Bank of America Merrill Lynch will again accept commission-based individual retirement accounts, but not to... For the client is stupefying retain for your records platform of Bank America... Brochure please retain for your records been limited to $ 600 when you open a Merrill. Commission-Based individual retirement accounts, but not limited to, margin transactions, special stock,... Lynch Investment Advisory PROGRAM Agreement ( sample ) best Interest Disclosure Statement some ATM owners/operators may charge a fee the..., a financial services industry heavyweight, a financial services industry heavyweight fee PROGRAM BROCHURE please for. Any other Merrill Lynch, Pierce, Fenner & Smith accounts & s may apply to your.... Clearing broker for MLPF & s month/ $ 5 million, '' Benson told.. Also typically owe a 10 percent penalty if you chose a Style Manager Expense rate will reimburse you for use! Told CNBC special stock registration/gifting, account transfer and processing and termination apply not! Fee for the fee if you 're under age 59 1/2 Edge self-directed investing accounts your.! Accounts, but the invitation excludes commission annuities fee applies if you 're under age 59..