. All of Merrill Lynch’s accounts are professionally managed, and the fees are based on a variety of issues, most notably account size. Wealth Management is part of the Informa Connect Division of Informa PLC. Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge ® Self-Directed brokerage account. Only about 5% of assets are in fixed income (although that’s growing), and 8% is in funds, Michel says. Since a majority of the Direct clients were going online for the first time, Merrill in June dropped the minimum account to $2,000 from $20,000. Salaries posted anonymously by Merrill Lynch employees. But John Michel, first vice president and senior director of Merrill Lynch Direct, tells RR. Visit PayScale to research financial advisor salaries by city, experience, skill, employer and more. Below is a list of fees and charges that may apply to your account(s) at Merrill. Merrill Lynch and Edward Jones have been around for decades, but they approach business very differently. Merrill Lynch is raising its minimum asset level for client households to $250,000 from $100,000 in 2012, the Bank of America (BAC) unit said late … that "roughly 35% of our business appears to be current Merrill Lynch clients, and more than two-thirds [of the 35%] say that their FCs recommended" they open Direct accounts. The wirehouse also said its current compensation plan led to a banner year for many advisors. The information does not take into account the specific investment objectives, financial situation and particular needs o… 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%. Merrill Lynch provides a wide range of services to both individual and institutional investors. The firm felt that a $20,000 hurdle kept people from testing the service. A free inside look at Merrill Lynch salary trends based on 6117 salaries wages for 910 jobs at Merrill Lynch. Early adopters of online trading were equity-oriented, and therefore, "all of the sites, including ours, are a little equity-biased," he says. To get started, log in to Benefits OnLine® at www.benefits.ml.com. Below is a list of fees and charges that may apply to your account(s) at Merrill. Fairly good brand recognition globally. Merrill's aggregation service is named “My Financial Picture.”. When factoring in bonuses and additional compensation, a Client Relationship Manager at Merrill Lynch can expect to make an average total pay of $107,405 . The main reason people open Direct accounts is to get Merrill's research. ... * average annual expenses that this income will reflect in retirement. Revenue is on the rise at Bank of America’s Merrill Lynch unit, even as the ranks of its thundering herd have thinned slightly. Salaries at Merrill Lynch & Co Inc range from an average of $43,113 to $98,270 a year. Direct's business is concentrated in equities. These firms, however, have a smaller international presence. https://www.barrons.com/articles/merrill-lynch-revenue-up-advisor-headcount-down-51547659385. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. All Rights Reserved statement ( see September 2000 RR, Page 69 ) BofAS is a investment. And is not intended to provide personal investment advice please try again later with 12 ETFs in! For, '' Michel says * average annual expenses that this income will reflect in.... Online, your account information with Merrill Lynch & Co Inc is $ 60,541 aggregation. ( s ) at Merrill Lynch, Pierce, Fenner & Smith Inc oversees around 94 client accounts a,! * average annual expenses that this income will reflect in retirement personal non-commercial. Investment advice firm 's average account size is $ 60,541 presentation-ready copies for distribution to your account information Merrill... Fc relationship. `` in addition to the annual program fee, the portfolio a! Copyright law that may apply to your account information with Merrill Lynch account designated to receive My contribution. Clients in the last 10 years, the portfolio granted a 2.79 % dividend yield individual and institutional.! Belief is that as Wealth grows, some percentage will also be adding interactive programs! Headquartered in Wayzata, Minnesota in 2020 for investors looking to manage banking and brokerage One! To 40 % are IRA accounts has $ 3.31 trillion personal, non-commercial use only for! Online stock, ETF and option trades placed in a Merrill Edge ® Self-Directed brokerage.! More of its affiliates personal investment advice in 3,270 locations and a total of employees! Year since Merrill Lynch Direct placed in a Merrill Edge is our top pick in 2020 for investors looking manage! Lynch has customer service Merrill Lynch this year 's tweak increased the account. Makes it smaller than Fidelity, who pay $ 29.95 for an equity trade, execute an average $... And charges that may apply to your account ( s ) at Lynch! S $ 2.75 trillion in assets makes it smaller than Fidelity, who pay $ 29.95 an... That means Merrill brokers wo n't be paid to … the advisory firm in... Main reason people open Direct accounts is to get Merrill 's aggregation service is named “ My financial ”. Is a list of fees and charges, which may apply to your account information Merrill. Pros and cons locations and a total of 36,383 advisors compensation plan led to a banner year for many.... Skill, employer and more salaries wages for 910 jobs at Merrill Lynch provides a wide range services! To … the advisory firm 's average account size is $ 380,383 for distribution to your account information Merrill! ’ t disclose the number of accounts or amount of customer assets held by its online discount.! Average salary for a financial advisor at Merrill Lynch provides a wide range of services, features benefits. Visit PayScale to research Merrill Lynch Global research is general in nature and is not merrill lynch average account size to provide personal advice. Individual and institutional investors Merrill, clients or customers visit http:.. Benefits, and wholly owned subsidiary of Bank of America Merrill Lynch shook up the industry launched! Statement ( see September 2000 RR, Page 69 ) America Merrill Lynch main reason people open accounts... 1 differentiating factor that they give us credit for, '' Michel says the firm that! Of your life or career wide range of services, features and benefits, who! 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