Merrill Lynch 401K services are awful
Written: Sep 06 '07
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Pros: None
Cons: High fees, horrible website, very little information
The Bottom Line: Stay away, others do it much better.
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| jckearns101's Full Review: Merrill Lynch 401K Services |
My employer switched to Merrill Lynch just recently, boy am I sorry. The website is awful, every broker website I've seen has it beat, no MS Money download, statements are broken currently, fund information is hard to get and confusing. The funds themselves are mediocre with the admin fees starting at 1.7% and going up from there, additionally, many of the funds have extra fees for various reasons. (I'm not entirely sure if different workplaces get different funds) The on-line help is non existent, want to get an answer about MS Money or Quicken? Good luck, you won't find any information on the website. The site is slow as well.
They will come to your workplace and go over everything the account with you and try to help you pick funds and give you a few charts outlining the basics and fund performance, but unless you are completely clueless, you don't need this. Additionally, when they came to our workplace they were rather rushed, leaving me about 20 minutes to set up the account distribution, an impossible task to do as you want when you don't know what funds are available beforehand. I am wholly unimpressed with the 401K services from Merrill Lynch.
Recommended:
No
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Epinions.com ID:
jckearns101
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Reviews written: 4
Trusted by: 1 member
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