Bank Of America Robo Advisor

As noted above one of the main advantages of investing through the merrill edge robo advisor is the potential to outperform the market. But still another advantage is the connection the platform has with both merrill edge and bank of america. Although merrill guided investing is one of the most expensive offerings on the best robo advisors list and has the highest account minimum you re getting an extensive package of investment support advice and service with those.

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Bank of america which rolled out a self directed investment platform called merrill edge guided investing a year ago has added automated research to the software it has also expanded the network of human financial advisers who support clients of its merrill edge program a mashup of robo advisory and human help.

Bank of america robo advisor. Megi is essentially a bank of america robo advisor. Merrill lynch s affiliation with bank of america makes merrill guided investing a force to be reckoned with among robo advisors. But the 0 45 management fee is. A merrill lynch branch office photo.

It announced plans monday for an online service and app called merrill edge guided investing which like other robo advisers will query customers about their age income risk tolerance as well as their investment goals and time horizon. The bank of america service merrill guided investing with an advisor builds on its robo adviser launched in 2017 adding the ability for clients to call or make an appointment with a bank. Another entrant in the robo advising field. Existing bank of america or merrill edge customers.

Every robo advisor we reviewed was asked to fill out a 50 point survey about their platform that we used in our evaluation. Bank of america is joining the ever increasing club of robo advisors by building its own automated investment platform. Ap bank of america on monday added human advisors to its robo advice platform creating a hybrid offering aimed at the mass affluent market. Many of the robo advisors also provided us with in person demonstrations.

Bank of america s merrill lynch unit is the newest entrant into the robo advisory game. Merrill edge guided investing stands out for human portfolio management and current merrill and bank of america customers will appreciate its rewards program. Unlike robo advisors which make purely computer driven investment choices merrill guided investing combines the power of technology with the insights and expertise from the chief investment office cio team for merrill and bank of america private bank who manage the accounts investment strategies to seek potentially better returns. Why it s a best robo advisor.