Merrill Lynch Reviews

Do not use this firm. I invested my life savings with them and for 2 years they bought and sold stocks showing a realized gain of about 5% each year, sounds great, but they kept the "losers" in unrealized gains and are now selling those stocks at a huge loss of about 10% for this year so far. I understand the market goes up and down, but the reason for me choosing them was because they are supposed to know more than me. They apparently know how to make money for themselves. Now each year we paid taxes on those gains, and this year we will incur losses, but the government does not allow writing off more than $3,000 of losses per year. At this rate we will be dead before we can write off this amount of losses. They know this but I was just informed by my accountant who I also had to pay for his time to do our tax return with all these stupid trades. NEVER use this firm!

This company has the customer service I’ve ever came across. I’ve had to call for a number of times a week for month just have them address one issue. If you don’t call to follow up the they will assist you. Extremely long hold call times.

Well, after 3 weeks, almost a month, to transfer an IRA into a State Retirement Account, I called dozens of times, I spend at least 8-10 hours a week calling Merrill Edge, sometimes 12 hours a week. They never email me, and pretty much say that they are working on it, give them another week each time. Even though when I talk to customer service, I submitted the paperwork and started calling them on 03/06, they said even today on 03/25, we just got the paperwork and started working on it. Every time I call every other day since 03/06. They just got the paperwork and started working it, give them until next week to do it. That was weeks ago they said they would be done.

They absolutely waste your time. Tried to call 4 times. Was on hold for a total of 5 hours and still have not talked to anyone. Don’t waste your time with these guys. Complete idiots. Recommend taking your business elsewhere.

They posted my 312 page 1099-B tax form with the acquisition and sale dates swapped. This is a major problem because it requires manual correction on every transaction in the tax software. I've attempted calling them and cannot get anyone to answer. Very strange a company this large and dealing with finances does not have a call-back option. They devote sales people to call me every few weeks but they can't staff their support department? Come on.

I have now called three times and have been on hold for a total three and half hours. Do they not know people's time is just as important as their money. EXTREMELY frustrating. Switching my investments elsewhere.

I have a plan at Merrill through a previous employer. Merrill has made my rollover to a new plan near impossible. I have been asked to mail in forms, which was a painful process that I completed many weeks ago with still no acknowledgement. I have been forced to call them with huge wait times, not returned calls, and an inability to help me in this process. Returns have been average.

Completely pissed off at this company. I'm American I want someone who speaks English not Indo-English and hard to understand. Wasted 2 hours and 40 minutes without a resolution other than, "Sorry we can't help you".

I was not able to speak with a real person and their automated voice message system did not understand anything I said. I have an American accent so that was not the issue. The options were unhelpful and it was incredibly difficult to work with.

Have been w/ ML since the '80s. Have had other co.s also. Basically had one contact all those years. He has retired. Your contact people make the difference in any company. If you still have same broker and are more than pleased, stay there.