Merrill Lynch Edge is an investment platform that includes online trading, banking and other services. The platform was launched by Bank of America Merrill Lynch, and offers discounts to customers of Bank of America and Merrill Lynch.Continue Reading
The platform gives clients the option to make investment decisions by themselves or to get financial advice from the Merrill Edge Advisory Center. It was created by Bank of America and Merrill Lynch to target investors with $250,000 or less in investable assets, which Merril Lynch had not previously targeted.
Customers with balances of $25,000 in certain accounts are entitled to make up to 30 equity or exchange-traded fund trades, also known as ETF trades for free each month. For customers with less in their balances or after qualifying customers make more than 30 trades per month, trades cost $4.95 or $8.95. Investors opening up certain types of new accounts or investors with over $20,000 in investable funds also qualify for phone advice from the company’s advisory center, which is not part of Merrill Lynch’s full-service brokerage.
In terms of assets under management, Merrill Lynch is the second largest wealth-management company behind only Morgan Stanley. The company is also the third-largest wirehouse broker-dealer in total number of advisors, behind Morgan Stanley Smith Barney and Wells Fargo Advisors.Learn more about Personal Banking