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Merrill Edge To Market To The Great Unwashed

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  • another robo-advisory entry for those who have no desire or ability to self direct. what is here that is of concern to you, @Maurice?
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  • edited October 2017
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  • Until they get more funds NTF, it all means diddly to me.
  • Yes. Merrill went ahead and implemented the DOL rule in retirement accounts effective the original day in June. One still can continue trading as self-directed and pay 6.95 per equity trade and get mutual funds etc. .45 fiduciary stuff provides strategic risk based asset allocation and rebalancing with cheap etfs for those who cant do it themselves and starts at $5000 minimum. .85% service includes a larger fund selection and a human being to talk to... i believe the min is $25k. Note that all models are created by the CIO office and are of institutional quality from open architecture platform. Mutual fund shares within those are either advisory or institutional, depending on the company.

    And then there is merrill lynch, a full service brokerage: financial planning, behaviorial, alternatives, financing, etc. All new retirement accounts have been fee-based fiduciary relationships since june, or none. Taxable could be any.

    Hope this clarifies the new post-DOL arrangement at merrill somewhat.
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