Merrill Lynch reviews and complaints 1
View all 102 complaintsMerrill Lynch - financial advisor team
My husband and I opened a Wealth Management Account 5 years ago with all of our retirement money which was certainly enough to live on until we died and also, leave some for our daughter and grandchildren. After 5 years the Walls/Berdell Wealth Management Group in Richmond VA returned .42% in earnings. Time frame from January 2011-December 2015. I completely freaked out when we lost 50K in August to make it a total loss for 2015 of 61K. To add insult to injury my husband had his IRA in a Vanguard account that subsequently earned 8% during the time these Financial Advisors returned .42%. We are both heartsick about the performance that we paid a 1% fee... For what I ask? A few parties we could have paid for ourselves. Stay away from Merrill Lynch at all costs and especially Walls/Berdell. We have moved all of our money back to Vanguard and subscribed to a newsletter by Dan Weiner who outlines his model portfolios for $189 for 2 year. His results are outstanding. Also, Warren Buffet recommends Vanguard. Don't pay Merrill Lynch to lose your money... Manage it yourself. Stay away from Merrill Lynch at all cost.
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