Reviewed by
Stang Gappa
Reviewed by
Stang Gappa
Updated on May 30, 2024
Learn about our Editorial Process
Merrill offers a simple, automated IRA with customizable portfolios and potential fee discounts for existing Bank of America and Merrill Lynch customers.
Ally offers an automated IRA as a with no annual management fee, 24/7 customer support, and a range of other financial products (incl. bank accounts & mortgages).
A Merrill Guided Investing IRA is a great option for beginner and hands-off investors who want a straightforward, automated portfolio with human oversight. Current Bank of America or Merrill customers may be eligible for a discount on the annual account management fee.
Ally Invest offers an automated individual retirement account through their Robo Portfolio IRA that features a low account minimum and no annual account management fee with plenty of customizable portfolio options to tailor your investment strategy around. If you like the idea of having a higher allocation towards interest-earning cash, then the cash-enhanced portfolio type may be what you’re looking for.
Bank of Ameria customers and current Merrill customers who meet required account balance minimums may be eligible for Merrill’s Preferred Rewards – a perk that includes lower management fees.
Ally Bank customers can move up to $250,000 per day from their bank account into their Ally Invest account, making investing for current banking customers a seamless process that takes just a couple of minutes. Ally also offers retirement planning tools in the form of educational articles and quizzes.
Beginner and hands-off investors might appreciate the simple, customizable portfolios offered by a Merrill Guided Investing automated IRA, especially if they currently have an account with Merrill or Bank of America. However, an account will come with higher management fees and account minimums than some other providers who offer a similar service.
If you’re looking to fund your Merrill Guided IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) rollover in just a few minutes.
Current Ally Financial customers, along with beginner and hands-off investors, may appreciate the seamless and customizable features of an Ally Invest Robo Portfolio IRA. The no annual management fee and low account minimum also stand out, along with solid customer support availability and a socially responsible portfolio option.
If you’re looking to fund your new Ally Invest Automated IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) to IRA rollover in just a few minutes.
