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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!

Schwab vs Merrill IRA Product Comparison

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Schwab Intelligent Portfolios is a great option if you want an automated IRA with no management fee and a wide range of portfolio options.

Consider Merrill Guided Investing if you want a simple automated portfolio with potential fee discounts for existing Bank of America and Merrill Lynch customers.

Charles Schwab

Charles Schwab

Automated

Open an Account
Best if you want
An automated IRA with no management fee and a wide range of portfolio options.
Fees
0%
What they invest in
All digital advisors create a diversified portfolio of ETFs (Exchange-traded funds) based on your risk tolerance and preferences.
Limitations
Schwab's automated IRA has a $5,000 account minimum which is a little higher than other providers, but comes with 24/7 human support.
Human advisor available?
Yes, the Schwab's Premium Intelligent Portfolios offering; requires $25,000 minimum balance and costs $30 a month in addition to a $300 one time planning fee
Account Minimums
$5,000
Ease of Use
Star filledStar filledStar filledStar filledStar half
4.5 stars
Customer Support
Online, call center, and branches.
Additional Info

Read our full review

Learn more about Charles Schwab

Merrill Lynch

Merrill Lynch

Automated

Open an Account
Best if you want
A simple automated portfolio with potential fee discounts for existing Bank of America and Merrill Lynch customers.
Fees
0.45%
What they invest in
All digital advisors create a diversified portfolio 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 and comes with a higher fee.
Human advisor available?
Only if you have more than $20,000 to invest and are willing to pay a higher fee (0.85%).
Account Minimums
$1,000
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

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Compare Schwab Intelligent Portfolios to another IRA product

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Compare Merrill Guided Investing to another IRA product

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Merrill Lynch

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Charles Schwab

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