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Partnership Disclosure
We might be compensated by one of our IRA partners for an account you open through our platform. This helps us keep the rollover service free, but it never impacts the fees you’ll pay on your new account. We only win if you do, and our job is to help you simplify your retirement accounts. We also help people who already have an IRA account even though we might receive no compensation in these situations—because it’s just the right thing to do!

Merrill Guided Investing IRA vs Ally Invest IRA

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Merrill Guided Investing is a great option if you want a simple automated porfolio from Merrill Lynch with potential fee discounts for existing Bank of America / Merrill Lynch customers.

Consider Ally Invest if you want an automated IRA from a leading digital bank offering a range of other financial products (incl. bank accounts & mortgages).

Merrill Lynch

Merrill Lynch

Automated

Open an Account
Best if you want
A simple automated porfolio from Merrill Lynch with potential fee discounts for existing Bank of America / Merrill Lynch customers.
Fees
0.45%
What they invest in
All digital advisors create a diversified porfolio of ETFs (Exchange-traded funds) based on your risk tolerance and preferences.
Limitations
A platform that's not quite as easy-to-navigate as newer institutions.
Human advisor available?
Only if you have more than $20,000 to invest and are willing to pay a higher fee (0.85% p.a.).
Account Minimums
$5,000
Ease of Use
Star filledStar filled
2 stars
Customer Support
Mix of online and call center.
Additional Info

Read our full review

Learn more about Merrill Lynch

Ally

Ally

Automated

Open an Account
Best if you want
An automated IRA from a leading digital bank offering a range of other financial products (incl. bank accounts & mortgages).
Fees
0%
What they invest in
All digital advisors create a diversified porfolio of ETFs (Exchange-traded funds) based on your risk tolerance and preferences.
Limitations
Ally's 0% fee only applies to the "Cash-Enhanced" portfolio which allocates 30% of your assets into cash. Their Market-focused portfolio charges 0.30%, though that's still reasonable.
Human advisor available?
Not at this time, though you'll get access to Ally's call center support.
Account Minimums
$100
Ease of Use
Star filledStar filledStar filledStar half
3.5 stars
Customer Support
Mix of online and call center.
Additional Info

Read our full review

Learn more about Ally

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