Merril Lynch or Fidelity for a Roth IRA

**Merril Lynch and Fidelity are both reputable financial institutions offering Roth IRAs, but the choice between them depends on your specific needs and preferences.** 1. **Merril Lynch's Roth IRA Offerings**: - **Personalized Wealth Management**: Merril Lynch provides personalized investment strategies and professional wealth management services. - **Bank of America Integration**: As part of Bank of America, Merrill Lynch offers integrated research and charting tools, and accounts can be managed alongside other Bank of America accounts. - **Convenience for Existing Clients**: Current and former Bank of America customers can benefit from instant money transfers and other perks within the Bank of America Preferred Rewards program. 2. **Fidelity's Roth IRA Offerings**: - **Self-Directed Approach**: Fidelity allows for a self-directed approach with various investment options, including commission-free trading. - **User-Friendly Platform**: Fidelity is known for its user-friendly interface and extensive research resources. - **No IRA Closure Fee**: Fidelity does not charge a fee to close an IRA, which is a notable difference from Merrill Edge. 3. **Comparison and Decision**: - **Physical Presence**: Merril Lynch offers a brick-and-mortar location, which may be preferred for in-person support and questions. - **Customer Service**: Concerns about customer service quality led one person to choose Merrill Lynch over Fidelity due to a preference for local, face-to-face interaction. - **Fees**: Fidelity's fee structure is generally more competitive, with no IRA closure fee, whereas Merrill Edge may have other fees associated with its accounts. - **Investment Options**: Fidelity offers a wide selection of low-cost investment options, which may be beneficial for cost-conscious investors. In conclusion, if you value personalized wealth management, integrated banking services, and the convenience of a physical office, Merrill Lynch might be the better choice. If you prefer a self-directed approach, a more extensive range of investment options, and a user-friendly platform with no IRA closure fees, Fidelity could be the better option. Ultimately, the decision should be based on your individual financial goals, current investment knowledge, and the level of personal interaction you desire.