Merrill Reviews

While the employee I spoke to was nice, this is the worst company to work with and I do not recommend. I never received a check to transfer to an IRA and they cannot reissue with a ton of hoops to jump through, delaying months of interest being earned etc. Asked to speak to a manager, on hold forever to then be told they can't find one, then told they would transfer me to a survey and was hung up on. This company is difficult to deal with and good luck if you have a question, they will ask for your personal information and transfer you over and over again for you to repeat the information and they make it soo difficult to get your money out.

Merrill sent me a letter telling me they are forcing a closure of my 401k and will cut me a check. I requested a rollover. They denied my request for a rollover and refuse to let me take my money to Fidelity. They want to roll me over into their IRA. I am on hold for 3 hours and 18minutes so far to discuss with them.

I had a terrible experience today with Merrill lynch about two hours on phone and never did get help. Worst ever company. No training of employees. Had to find my own info cause they weren't familiar with their own website.

This is my first time I use Merrill Lynch to trade stocks with my CASH ACCOUNT, after I executed two orders, there were only a little over $1000 cash left. Today I found out there were extra executed buy & sell orders in my account after my original two buy orders, the extra orders by Merrill Lynch made me lost $1500, I called and they give me a reason saying I had an order was not canceled, so they executed the order, then they found out it was mistake and sold. Okay my account is cash account, not margin acc, how could execute an order with $1000 cash available to buy $49000 stock? And even it is true that original order was not canceled, should Merrill lynch has restrictions to avoid duplicate or over cash availability order to be executed? Merrill lynch also charge over $30 for the trades. The phone call with an senior manager was abruptly cut off.

I was advised by Josh ** that my taxes on a roller would be paid out of my 401k into my Roth. I had a 45-minute phone call with this rep regarding taxes being paid. The amount I rolled over was based on tax amounts to be paid, which I was TOLD SPECIFICALLY WOULD BE TAKEN OUT OF MY 401k, so I did not have to come up with the money out of pocket. When I went to file my taxes, the IRS told me I was liable for the amount of $1,100.00; it WAS NOT TAKEN OUT OF MY 401k as instructed by this associate. He is uneducated about their products and how they work. Oh, by the way, the company's resolution to this was HE WILL BE COACHED!!! Oh, thank God!!!! What a joke! Do not do business with this company. Read the reviews!!! It's absolutely the worst company to put your hard-earned dollars into. They don't care if you lose your money. They only care about collecting it for their billionaires' payouts. Check out the CEO scandal...

Their corporate infrastructure allows local agents and offices to conduct themselves in an unprofessional and unethical manner. Then once those practices are brought to light, they will lie and do anything needed to hide their deceptive practices. All then to be backed up by their corporate that has it all setup to work this way in the first place. Take your business ANYWHERE but Merrill Lynch! Lesson learned firsthand.

I should give zero stars. My CD account with Merrill (Bank of America) has been a nightmare. I opened a CD account with Merrill on July 8, 2024. When I checked my CD on July 22, 2024, I noticed that the CD balance was going down every day. When I asked about this, the bank advisor told me "it's a penalty". I was confused because I had no plans to close my CD, but the penalty had already been charged. I realized that Merrill CD was a fraudulent account and I immediately closed my CD account on July 23, 2024. When I called Merrill on July 31, 2024 because I hadn't received a check for a week, the lady who answered the phone threatened me "where did your money come from" and "we need to investigate". Merrill withheld my money for at least a week until I contacted the bank's top director.

Merrill Lynch is the most incompetent financial services institution I have ever dealt with. I am an executor for my mother's estate. It's been 5 months since her passing and her estate still has not been settled despite the existence of clear beneficiary designations. They cannot provide any explanation as to why the funds have not been distributed nor when they will be. 3 other financial institutions completed all disbursements Within 1 month.

My husband and I opened 4 joint brokerage accounts with Merrill Lynch in which one was self directed. They decided to sell ALL our individual stocks in the self directed account without our consent which we had built up for years. They are now trying to put the blame on us saying we didn’t do a verification. The verification we never did in years! The verification of “are we talking to the owner of the account, your DOB and address which never changed and which was actually done and verified but they only applied this information on the other 3 brokerage account which they managed.

I requested a simple rollover of a small IRA from Merrill to another investment firm. It has taken a month with numerous calls, many disconnects and incorrect phone transfers plus having to submit the same paperwork twice due to their ineptitude. If you like going through a hideous labyrinth of phone menus and bad transfers from one department to another, then Merrill is the company for you!