The service combines algorithm-driven portfolio management with optional access to licensed financial advisors. It is designed for people who want a hands-off investing experience but still value the ability to speak with a real person.
Those looking to use Merrill Guided Investing start by answering an online questionnaire about their financial situation, goals, risk tolerance, and time horizon.
Based on this, the system recommends and manages a diversified portfolio of exchange-traded funds (ETFs). From there, the platform handles the day-to-day management, including automatic rebalancing to keep your investments aligned with your strategy.
While the core management is automated, clients can schedule consultations with dedicated financial advisors for personalized guidance on their investment strategy and broader financial questions.
What are the pros and cons of Merrill Guided Investing?
When choosing any type of financial advisor, robo-advisor or human advisor, it’s wise to go through all the pros and cons so you can make the right decision for your needs.
Here’s a breakdown of what Merrill Guided Investing brings to the table:
Pros of Merrill Guided Investing:
Hybrid advice model: Combines automated portfolio management with access to licensed financial advisors for personalized guidance.
Integration with Bank of America: Seamless online and mobile integration with Bank of America accounts, simplifying cash transfers and providing a consolidated financial view.
Diversified ETF portfolios: Portfolios are constructed using low-cost ETFs across various asset classes.
Automatic rebalancing: Portfolios are automatically monitored and rebalanced to maintain the target asset allocation.
No trading commissions: No commissions are charged on ETF trades executed within the managed account.
Tax-Loss harvesting available: Tax-sensitive strategies, including potential tax-loss harvesting, are offered on accounts over $50,000.
Cons of Merrill Guided Investing:
Account minimum: Requires a minimum investment of $1,000 to open an account, which may be a barrier for some new investors.
Management fee: Charges an annual advisory fee of 0.45% of assets under management (AUM).
ETF expense ratios: Investors also pay the underlying expense ratios of the ETFs held in the portfolio (typically low-cost, but an additional layer of cost).
How much does Merrill Guided Investing cost?
Merrill Guided Investing charges a 0.45% of AUM annual advisory fee, billed quarterly.
For example, if you invest $10,000, you’ll pay around $45 per year, or roughly $11.25 per quarter.
Other costs to keep in mind include:
ETF expenses: The ETFs selected for the portfolio have their own internal operating expenses (expense ratios), which are deducted from fund assets and passed on to shareholders. These are generally low but vary by fund.
No trading commissions: Merrill Edge does not charge commissions for online trades of ETFs within the Guided Investing account.
Potential account fees: Standard Merrill Edge account fees may apply (e.g., wire transfer fees, paper statement fees). These are not specific to Guided Investing.
What is Merrill Guided Investing’s minimum account size?
Merrill Guided Investing’s minimum account size is $1,000. This relatively accessible entry point requires at least $1,000 to open an account, making it more approachable than many traditional advisory services but still higher than some robo-advisors that allow investing with as little as $0.
For new investors, the requirement may feel like a hurdle, but for those ready to commit a modest sum to a professionally managed, diversified portfolio—with the added benefit of advisor access—it represents a reasonable starting point.
Who should choose Merrill Guided Investing?
Merrill Guided Investing may be suitable for investors seeking a blend of automated portfolio management and access to human financial advisors.
Specifically, the platform is suited to:
Bank of America customers looking for integrated banking and investing solutions
Investors seeking a middle ground between DIY investing and full-service financial planning
Individuals comfortable with a $1,000 minimum and a 0.45% fee who value advisor access
It may be less ideal for:
Investors seeking comprehensive, ongoing financial planning beyond investment strategy. they may prefer Merrill Lynch Wealth Management.
Those with very small amounts to invest (below the minimum). They may find Merrill Edge Self-Directed more suitable.
Investors focused solely on finding the lowest-cost robo-advisor without advisor access
Merrill Guided Investing: Is it secure?
Yes, Merrill Guided Investing is secure. Accounts are held through Merrill Edge, a subsidiary of Bank of America, which employs industry-standard protections, including:
Encryption (both in transit and at rest)
Multi-factor authentication (MFA)
Fraud monitoring
Biometric login options on mobile devices
In addition, investments are protected by SIPC insurance (up to $500,000, including $250,000 for cash), while uninvested cash may be eligible for FDIC insurance through Bank of America’s sweep program.
Merrill Guided Investing: Customer service
Merrill Guided Investing clients have access to Merrill Edge customer support, including:
Phone Support: Available Monday–Friday during market hours (typically 8 a.m.–8 p.m. ET).
Online Chat: Available via the Merrill Edge website during business hours.
Dedicated Advisors: Clients can schedule phone appointments with their assigned financial advisors.
Branch Access: Support may also be available at local Merrill or Bank of America financial centers.
Merrill Guided Investing reviews: What do real customers say?
Customer feedback on Merrill Guided Investing is generally mixed.
Many users highlight the convenience of linking Merrill accounts with Bank of America, making transfers and account management easier. Others note that the online platform and mobile app are user-friendly, and some value the option to speak with an advisor when needed.
On the other hand, some investors feel the 0.45% annual advisory fee is high compared to lower-cost robo-advisors. Reviews on the Better Business Bureau (BBB) and Reddit also mention frustrations with customer service responsiveness, challenges in resolving account issues, and occasional concerns about advisors steering clients toward higher-fee services.
Merrill Guided Investing: Mobile App
The Merrill Edge Mobile app, which is available for both Apple and Android users, allows Guided Investing clients to:
View portfolio performance and allocation.
Monitor account balances and holdings.
Access account statements and documents.
Contact their advisor or schedule appointments.
Transfer funds between linked Bank of America/Merrill accounts.
Pay bills from linked accounts (Bill Pay feature).
Utilize robust security features like biometric login and security codes.
Is Merrill Guided Investing worth it?
If you're looking for a way to invest that blends the efficiency of automation with the reassurance of human guidance, Merrill Guided Investing might be worth a closer look.
Offered by Merrill and backed by the resources of the Bank of America company, this platform aims to simplify investing while giving you access to professional advice when you need it.
Its integration with banking services is a significant advantage for existing customers.
However, while the 0.45% management fee and $1,000 minimum are competitive within the hybrid advisor space, they are higher than pure robo-advisors.
Its value depends heavily on an investor's desire for advisor access, appreciation for the Bank of America ecosystem, comfort with the fee structure, and whether the level of guidance meets their specific needs.
Source:
https://www.merrilledge.com/security-center
https://www.merrilledge.com/investing/merrill-guided-investing
https://www.merrilledge.com/investing/merrill-guided-investing