I’ve been with other brokerages, and I have to say, Merrill Lynch is one of the worst I have ever conducted business with. My decision to transfer my accounts over to Merrill Lynch was being a Bank of America customer and wanted everything under one platform. I have only had this accounts open for 7-8 months and it’s been one nightmare after another trying to transfer money from one institution over to Merrill. In addition, I have never seen so many advisers who cannot assist you, or return phone calls, reply back to emails, simple customer service skills, and good luck speaking to a manager. Even when you provide poor surveys and comments on the Merrill website, a manager will not speak with you. Which explains the reps…seeing managers set the tone for the office. I believe the real problem here is 3 items: 1) this back office processing department which all transactions go through. This is the most irresponsible department. I don’t even think they could wash dishes if they were asked to.2) an old Bank Of America system (Edge), 3) Poor leadership. Also, when you cash/trade stocks, it takes the 4 days to settle in your account(s).My husband clearly was the smarter one. He had me move my accounts over to Merrill (he was skeptical of Merrill). After watching the circus he is happy he stayed with Fidelity.
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