Merrill Lynch AUM

Merrill Lynch Assets Under Management (AUM)

2022 Bank of America Merrill Lynch total assets under management. Merrill Edge AUM: client assets, brokerage accounts, and mutual funds assets.

Merrill Lynch Assets Under Management (AUM)

Merrill Lynch is a wealth manager owned by Bank of America. With offices all around the world, the broker attracts more than just American investors. It has a large client base and over 39,000 employees. The following numbers reveal the sheer size of the broker-dealer:

Merrill Lynch client assets $1.1 trillion
Merrill Lynch number of accounts 2+ million
Financial advisors 19,238
Merrill Edge client assets $230 billion

Merrill Lynch’s massive asset base generates enormous revenue for the company every quarter—typically over four billion dollars. This in turn produces a net profit in the hundreds of millions.

With 19,000+ investment advisors and several billion dollars in revenue annually, each Merrill Lynch advisor produces around a million dollars in revenue on average every year.

The broker’s fee for managing all of its assets varies widely. The annual fee ranges from 3.1% for accounts below a million dollars to less than 1.5% for accounts above $25,000,000. The fee also varies based on the types of securities an investor wants to buy and sell, such as funds or stocks. Both retirement and non-retirement accounts can be opened with the firm. Education and UGMA/UTMA accounts can also be opened.

Merrill Lynch is truly a global company with offices in multiple countries. In addition to its US locations, the company also has branches in Australia, Brazil, Bolivia, Canada, the Cayman Islands, Chile, China, Colombia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Korea, Malaysia, Poland, Portugal, Russia, Saudi Arabia, Spain, Switzerland, Taiwan, Turkey, the United Arab Emirates, and the United Kingdom.

Merrill Edge and Competitors

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Mutual Fund
Annual IRA
M1 Finance Up to $500 cash bonus for funding account at M1 Finance. $0 na $0 $0
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0
Merrill Edge Get up to $600 when you open a new Merrill Edge account with at least $20,000. $0 $19.99 $0.65 per contract $0

Advantages That a Large Broker Offers

A large broker-dealer like Merrill Lynch delivers many benefits that smaller firms can’t provide. As mentioned, Merrill is a truly global player with offices all around the world. Service is available in many different countries.

Because of Merrill’s size, it is also able to offer discount services through its on-line brokerage arm Merrill Edge. This low-cost brokerage alternative provides securities services at low prices, including a portfolio management service that is cheaper than Merrill Lynch’s service—just 45 basis points. Bank of America customers can receive free trades if they meet certain balance requirements.


Merrill Lynch is actually smaller than several other firms. The company’s $1.1 trillion in assets makes it smaller than Fidelity, who has $10.4 trillion. Vanguard is at $7.2 trillion, and Schwab has $7.4 trillion. These firms, however, have a smaller international presence. Global investors may prefer Merrill Lynch.

Merrill Lynch’s annual management fee is a little expensive, compared to some of its competitors. Raymond James charges 1.00% to 2.25%, which is more than 50 basis points less than Merrill. And Raymond James offers all the service to be expected from a full-service broker.

Merrill Lynch has the support of a multi-billion dollar bank, which most other broker-dealers don’t have. Some investors may be more comfortable with a brokerage firm that is owned by a household name.

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Merrill Edge Research, Customer Service, and Advice

Merrill Edge provides comprehensive support and guidance. Investors wanting to work with local Bank of American branch banks are free to do so. The advisors at Bank of America locations do not owe fiduciary obligations to Merrill Edge customers and may promote fund positions that carry sales fees or high expense ratios. While Merrill Edge clients will pay no fee to meet with these advisors, they will pay for the services in the form of sales charges and ongoing expense ratios. It should also be mentioned that these advisors are generally willing to meet with anyone free of charge and the quality of advice varies from advisor to advisor.

Merrill Lynch AUM

Merrill Edge also offers a service that is designed to compete with Schwab and Vanguard’s managed portfolio offerings. Under Merrill Edge Managed Portfolio, investors first complete a screening interview with a licensed Merrill financial advisor. The advisor creates an action plan and allocates your portfolio to align with your overall goals and risk tolerance. As time progresses, the advisor will monitor your portfolio and make necessary changes to keep you on track. Investors interested in using Managed Portfolio will need to maintain a minimum account balance of $20,000 and will pay 0.85% per year on top of fund fees to access the service. Even more comprehensive personal advice is offered for higher fees.

These fees are out of line with new industry standards concerning partially automated fund management. Clients looking for portfolio management services would do better to invest with Schwab, Vanguard, or Betterment. While the integration between Bank of America account services and Merrill Edge account information is seamless, fusing the outstanding services and competitive rates of Merrill Edge with out of date personal advice fees ruins part of the allure of the service.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.