Does ML charge extra fees
Does ML charge extra fees
I am beginning the process of moving all my ML assets to Vanguard. Ideally I would like to have ML sell all investments in my and my wife's IRA's. I pay a monthly asset management fee. If I ask them to reduce all the IRA investments to cash, will they charge me transaction fees in addition to my monthly asset management fee?
- nisiprius
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Re: Does ML charge extra fees
Very seriously, this is a good question to ask a Merrill Lynch representative. I can't speak about that particular firm, but my experience with three other firms is that they were all just excellent at explaining fees... in detail. Explain exactly what you want to do and ask them what the fees will be. You might as well try, you have nothing to lose by it.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Re: Does ML charge extra fees
If you're paying them a % of assets under management to manage your money there shouldn't be an extra commision to sell the holdings but I would ask them as nisiprius mentioned or just move the account in kind and have them sold at Vanguard. How many holdings and what kind of holdings are we talking about?