Merrill Edge Self-Directed Reviews

Summary of a Reddit post

They hold Vanguard ETFs at Merrill Edge to qualify for Platinum Honors. ETF trades carry no fees, but they warn that mutual funds outside the free list cost a transaction fee.

Summary of a Reddit post

They think the move is definitely worth it: the Merrill interface is bad but fine for set-and-forget investing, and the credit card bonus it unlocks makes their BofA card one of the most valuable they hold.

Summary of a Reddit post

They keep their boring long-term investments at Merrill and use the Preferred Rewards boost to earn very strong cash back on their BofA card. They describe the setup as simple and nice.

Summary of a Reddit post

They keep a Merrill taxable account only to unlock the Bank of America Preferred Rewards boost on both of their BofA cards, while using Schwab for their main investing and IRA.

Summary of a Reddit post

They like the rewards structure of pairing BoA with Merrill and keep their cash in money market funds there, which they can liquidate quickly and move to their BoA bank account.

Summary of a Reddit post

They keep a chunk of their assets in a Merrill Edge account mainly to get boosted credit card rewards, while preferring Chase for everyday banking and holding assets at both firms for the perks.

Summary of a Reddit post

They hold a Merrill Edge account together with a Bank of America rewards card and get the Preferred Rewards boost on card spending, calling the brokerage fine and the combined setup worthwhile.

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They use Merrill Edge for do-it-yourself investing, finding it unflashy but solid, with instant, seamless money movement to and from their Bank of America accounts and optional margin as a cash backstop.

Summary of a Reddit post

They self-manage their portfolio on the Merrill platform and like its research and technical analysis tools. They also mention a tab of Merrill's preferred ETFs.

Summary of a Reddit post

They use Merrill Edge for the credit card benefit and instant transfers to their BofA checking. They have nothing negative to say, and their trades simply get filled.

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They do the backdoor Roth at Merrill and leave a few cents in the traditional IRA to keep Merrill from closing it, which has worked fine every year since the first time.

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They have done yearly backdoor Roth conversions with Merrill Edge for years, leaving only a few cents in the traditional IRA so it stays open without causing pro rata trouble.

Summary of a Reddit post

They keep an account at Merrill to hold the Platinum Honors tier benefits and simply buy VOO there, describing it as easy with a very low expense ratio.

Summary of a Reddit post

They use Merrill Edge as a self-directed account and have been quite happy, buying cheap index ETFs and enjoying the Bank of America perks that come with keeping a larger balance there.

Summary of a Reddit post

They hold both Fidelity and Merrill/BofA, keeping part of their cash in a Merrill money market fund with same-day liquidity as backup and using BofA branch services. They see Merrill as a useful complement, not a chain.

Summary of a Reddit post

They hold accounts at both Fidelity and Merrill and keep both, praising the credit card boost as an excellent benefit and using Merrill for their long-term positions.

Summary of a Reddit post

They moved their Roth IRA to Merrill Edge because they bank with BofA, reached Platinum status, and like seeing everything in one app and not waiting for money to settle on transfers to their brokerage.