Review Time
Merril lynch is the worst earning app you will ever encounter in your investment experience in india. Their fund managers cunningly intice you to first buy their rs 300 plan saying you will earn from 1000 to 3000 rupees daily. After you join their app by registering you find that the amount was transferred into a mutual fund with a meager rs 6 per day plan expiring in 50 days. But mater does not end here. The managers will dm you daily to fill you with merril lynch propoganda where you get sick of reading. In case you don't co-operate they will threaten you with cancellations freeze. You will be forced to joing their group every evening where you need to Sing the merryil lynch praise ir else. Some of the we women executives turn rude and hostile after once you join.
Merrill Lynch deactivated my account after I requested a wire transfer to another bank. I received an email from them confirming that the transfer request was successfully submitted. The transfer was subsequently flagged as "Potential Fraud" and my account was disabled without any notification to me. After noticing that the transfer did not go through I contacted them the next day. They told me that they needed to confirm that I was not going to use the funds to "mine Bitcoin." After laughing I told them "no" and they went ahead and allowed the transfer. Its 1/12/24 and I am being told that it is going to take a few more days before my account can be enabled again. This is the worst experience that I have ever had trying to get access to MY money. I am in the process of closing my account and moving my money to Fidelity.
Liars, maniupalutive, cheaters, downright horrible company to deal with. Both parents have been clients for over four decades. When it came to me managing mothers account they have been given both of us the run around for years. Back in 2019 filled out POA paperwork at a local branch. Apparently it was never filed on their part because five years later when I made first inquiry to release ROTH funds account was frozen. Even though account access was granted in 2019. Apparently they felt "elder" abuse wss taken place. Again even though multiple attempts were made in 2019 to let them know legitimate activity was requested. Forward 5! years. They gave us the run around with 2024 POA forms, lied to us when they said they were researching requests, lied to us about process, lied to us about check distribution, cheated us out of potential interest earnings, sent us condescending letters, the list of how horrible their agents and reps are goes on and on. Meanwhile mind you an ex of mine was taking care of my Dads account (totally separate from Moms) transferring money out of stocks, linking distributions for her own financial gain, and that went on for years and years. Not until I took over financial affairs for my Dad did I discover. But they never questioned and my Dad was siphoned dry. Mom holds multiple assets with multiple financial institutions and Merrill is by far the worse. They preach that they are customer orientated and customer friendly which is a bunch of hot air. Just bad ethics, bad morals, bad company. I only pray that others don't have to deal with the frustration and humility that my mom and I had to endure over a 5 year period. Waiting on ROTH funds to this day...... JUST PLAIN 😥
Five years ago I opened a Wealth Management Account with Merrill Lynch for the purpose of Dividend income. Initially, the stocks selected by my advisor for this purpose went up slightly. However in 2022, my account lost 26% (!!!). This year it lost more money. My advisor called me and suggested to sell one stock before the end of 2023. It had lost all value! I took a loss of $50,000. All of my other stocks in this 'Wealth Management Account' lost money for a total loss of 30%. This is really unacceptable. I'll get out of ML as soon as I can! Horrible financial experience!
As soon as I can, I am going to discontinue dealing with them. I didn't care for them 20 years ago and dislike them even more now. I prefer Voya over them. When I saw the Bank of America logo, I knew I didn't want to deal with them anymore. I will close that asap.
Just an awful experience. I would not want anyone else to go through what I went through. Their platform is not made for anyone that has any inclining about trading or self directed investing. They are a disaster, and when you dig deep into their operations, they have many many flaws, which will definitely hinder your ability to act quickly it be trading, or it be transferring assets
My mother had money with Merrill Lynch. When she passed away, my sister and I inherited it and I was the executor. It took me 4 months and over 30 phone calls to finally get the money. They required me to have the same form notarized 5 times because they kept changing what was required on it. They even pre-filled it a couple of times themselves and then said it was wrong. You are not allowed to talk to anyone on the the team that approves the distribution. You have to go through a so-called support team and they continually give you wrong information. I requested 3 times for a manager to call me due to all the problems, and no one ever called. It is the worst example of customer service that I can recall ever having.
We have been trying to get Power of Attorney for each other in case of emergency (illness, injury) so we can speak to ML on each other's behalf. On 9-20-23, they e-mailed us the forms. We jumped through hoops (notary, scanning & returning the forms online which they said we could do) to no avail. They wanted all the forms they e-mailed us returned. We scanned & did that. Then they wanted the forms returned in order. Mind you, the forms are numbered. Then they wanted the forms faxed through BoA. We did that. Then they said they only received 4 pages. They said they were sending a postage-paid envelope so we can mail the forms back. It arrived today but when we went to UPS, they wanted $104.00. At this point, it seems as if they don't really care because they are so big & we are so small.
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