Merill Lynch advice

[thelegges]

Looking for advice for a Merrill Lynch adviser to use while we’re in Florida. Not looking to change to another company, just looking for recommendations for Merrill Lynch advisor that you are working with and are very happy.

[DAVES]

Looking for advice for a Merrill Lynch adviser to use while we’re in Florida. Not looking to change to another company, just looking for recommendations for Merrill Lynch advisor that you are working with and are very happy.

Not sure I understand your post. If, you are happy with your current advisor and are a temporary Villager, surely you can continue to use the advisor you have been happy with.
If, you are unhappy with your advisor, you can surely request another advisor. If, you are happy with your advisor but want a local Villager advisor, I would ask your current advisor, they either know who is good or can find out for you.

[JoelJohnson]

Anthony Gould (The Palmer Group 352-350-2706). A young man (so he'll be around a long time).
When we were first married I had a Merrill Lynch advisor, he lost me so much money I swore I would never use them again.
Anthony was giving talks about social security at the Village school and I attended. I was so impressed that I decided to trust him with a small amount of my portfolio. That was 6-7 years ago. Now his maintains 90% of it (the rest I play with).

[davem4616]

Not sure I understand your post. If, you are happy with your current advisor and are a temporary Villager, surely you can continue to use the advisor you have been happy with.
If, you are unhappy with your advisor, you can surely request another advisor. If, you are happy with your advisor but want a local Villager advisor, I would ask your current advisor, they either know who is good or can find out for you.


ditto what he said....
we all spoke with our advisors over the phone during Covid....

[DAVES]

Anthony Gould (The Palmer Group 352-350-2706). A young man (so he'll be around a long time).
When we were first married I had a Merrill Lynch advisor, he lost me so much money I swore I would never use them again.
Anthony was giving talks about social security at the Village school and I attended. I was so impressed that I decided to trust him with a small amount of my portfolio. That was 6-7 years ago. Now his maintains 90% of it (the rest I play with).

As it s said a rising tide raises all boats. The past 6-7 years actually 10-15 years the stock market has been up. "He lost me so much money," was he good? The question to ask is did you loose less than the S&P index?

We are easily lulled into thinking the market only goes up. That also applies to real estate. Except when they don't.

[coralway]

Looking for advice for a Merrill Lynch adviser to use while we’re in Florida. Not looking to change to another company, just looking for recommendations for Merrill Lynch advisor that you are working with and are very happy.






Suggest you post this in the Investment Talk section - you might get more knowledgeable recommendations.

[2newyorkers]

We use Douglas Reeb or Chad? at Merrill Lynch. Like both.

[thelegges]

Not sure I understand your post. If, you are happy with your current advisor and are a temporary Villager, surely you can continue to use the advisor you have been happy with.
If, you are unhappy with your advisor, you can surely request another advisor. If, you are happy with your advisor but want a local Villager advisor, I would ask your current advisor, they either know who is good or can find out for you.

Our guy in Michigan handles our day to day. However when we need to deposit large checks in TV it’s a bit*** to wire it or send check back to Michigan. He suggested we set up a base savings with ML, in TV, then monies can be deposited local, and moved when needed. With today’s issues, he felt it best to deal local. Our guy could only recommend someone in Tampa, which is farther than I wanted to drive.

[RedFoxRick]

I've made three moves in the United States and have kept the same RBC advisor. It is easy to stay with same advisor and work together via telephone and Zoom.

[bowlingal]

I have Merrill Lynch here in Lake Sumter. Very happy with their service and keeping an eye on my investments. My brokers name is Clay and I meet with him in the office every 3 months and we go over my portfolio.

[ny2pa2fl]

Clay Palmer - been using him for the last 6 years.

[JoelJohnson]

As it s said a rising tide raises all boats. The past 6-7 years actually 10-15 years the stock market has been up. "He lost me so much money," was he good? The question to ask is did you loose less than the S&P index?

We are easily lulled into thinking the market only goes up. That also applies to real estate. Except when they don't.

That was back in the early 70s, we were young and no one taught us about stocks.

[chenault55]

Looking for advice for a Merrill Lynch adviser to use while we’re in Florida. Not looking to change to another company, just looking for recommendations for Merrill Lynch advisor that you are working with and are very happy.

I live here but my advisor is Julie Hyde in Overland Park, Ks because that’s where we moved here from. She is an excellent advisor with Merrill. We got her several years ago when I told Merrill if they couldn’t give me an advisor that could communicate with his clients……..that’s when they had Julie get with us and we have not regretted it even once in the last 12 years. There is a Merrill advisor at the Bank of America on 466 but We don’t have a relationship with him. Her number is 913-906-5209. At the very least she could get you in touch with a good advisor here. She is very honest and cares about her clients. Anyway good luck!

[The VillageElder]

There are two forms of ML. ML the brokerage firm and Merrill Edge (ME).

They are both owned by Bank of America (BoA). I have an ME account. I deposit money to my BoA checking and transfer any amount to ME. I imagine the same holds true if you have a ML account.

Next step is to link your account with a BoA account. You may also use Citizens First Bank, here in The Villages. The have transfer capability to any financial institution.

[Michael G.]

I've made three moves in the United States and have kept the same RBC advisor. It is easy to stay with same advisor and work together via telephone and Zoom.

I also kept our same adviser in Wisconsin for the 6 years we been here full time.
If we make a trip up there, we also make sure we set a meeting then.

If you check with advisors up north, we'll find many of their clients retire in Florida,
and stay with the northern advisor and keep in contact by phone.

RMD money is transferred into our bank account every year.

BTW, our advisor recommended adding the "lady bird" statement to our will.

[petsetc]

My addition to all this good advice, take time to read Paul Merriman’s 3 FREE ebooks.

1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed (read this first!)

Found at paulmerriman.com

[charlieo1126@gmail.com]

My financial advisor is Mr Vanguard Index Funds I’ve covered much of the market and have been dollar cost averaging for 20 years , I hardly look more then once a month when statements come in no worries , no calls , no complaints

[gdennis317]

Anthony Gould (The Palmer Group 352-350-2706). A young man (so he'll be around a long time).
When we were first married I had a Merrill Lynch advisor, he lost me so much money I swore I would never use them again.
Anthony was giving talks about social security at the Village school and I attended. I was so impressed that I decided to trust him with a small amount of my portfolio. That was 6-7 years ago. Now his maintains 90% of it (the rest I play with).

We use Anthony at Palmer Group also, for almost four years now.

Be aware they take a percentage of your investment yearly and do not charge for trades. Thus, they make more money as your Investment grows. Just be aware of yearly cost vs pay to trade format.

[Babubhat]

Nothing. More than paid hand holders. The fees belong in your pocket

[Villages Kahuna]

There’s a Merrill Lynch office in Lake Sumter Landing.

If you have a ML advisor you like and trust, talk to him or her about continuing your relationship using the Merrill Lynch app and phone. I’ve had my advisor, whose office is in Northbrook IL for almost thirty years. He now spends about half time at his home in east-central Florida. I still call his office in Northbrook and if he’s in FL his assistant just puts me thru to him here. Unless I ask, I don’t know whether he’s”up north” or here in Florida. He’s told me he has a better setup of computers, screens and software here in FL than he has in IL.

One other suggestion I might make is to do your regular banking with Bank of America. B of A owns Merrill Lynch and has imbedded commercial banking officers in most of the ML groups or smaller offices. My commercial banker sits in an office down the hall from my ML financial advisor. When I have a banking question I just call her—no 800 numbers and long waits, etc. In addition, if you concentrate all your financial advisory, banking and credit cards with BofA, the credit card rebates and other programs are MUCH more generous than if you keep everything separate and with different financial institutions.

I’m actually a retired JPMorganChase officer and I’ve now actually closed my checking account with JPMC and concentrated all my banking in one office up in Northbrook, even though we live full time in The Villages.

One other advantage is that when (not if) your trustee or relative has to manage or settle your estate, they have only one number to call to deal with all your financial affairs. Having performed that task for my parents, that is a HUGE advantage.

[Villages Kahuna]

I haven’t visited a bank to deposit a check in years. All banks have an app that permits you to take a picture of the front side and the endorsement side of the check and make your deposits from the comfort of your home. If you need to make a deposit from one of your own accounts to another, write a check to yourself, endorse it, use the banking app to make the deposit and again, you’ve moved money from one account to another from the comfort of your home with no deposit or wire transfer fees. Easy peazey.

[manaboutown]

Warren Buffett has been handling much of my portfolio for many years and has done quite well of course. It has been nice to have someone much smarter than I am invest for me. I started investing in BRK in the 1980s. Some of my portfolio is now in index funds and ETFs at Vanguard and Schwab. I love REITs and have owned them for years, picking up some for pennies on the dollar of their actual worth during the big dip @ 2009. (CUBE hit 2.02, I got some 2.5-2.6; it is now @54 and has paid dividends all along). I have been my own financial advisor and am happy with the results. I see no need to let somebody skim 1% off my investment value every year for any reason.

[DAVES]

Our guy in Michigan handles our day to day. However when we need to deposit large checks in TV it’s a bit*** to wire it or send check back to Michigan. He suggested we set up a base savings with ML, in TV, then monies can be deposited local, and moved when needed. With today’s issues, he felt it best to deal local. Our guy could only recommend someone in Tampa, which is farther than I wanted to drive.

Obviously a complex issue. Your guy in Michigan should advise you. "A large check," it is an out of state check. A bit of a hot potato for anyone to cash that check and wire the money for you particularly if you do not have a bank account more than the check amount. Merrill Lynch where you have your account can probably help you. Since you already have an account there, should the check bounce they will deduct the amount from your account.
Probably there is a high fee should it bounce.
You don't need a particular person, just copy the check and get a receipt. When you can use those funds, I'm sure they can tell you. It will not be immediate. Whoever is issuing the check can wire the money to your account. The money is immediately removed from their account Not sure if you would want to do that, bother them? Give them you account number? There is likely a fee.

[asianthree]

Obviously a complex issue. Your guy in Michigan should advise you. "A large check," it is an out of state check. A bit of a hot potato for anyone to cash that check and wire the money for you particularly if you do not have a bank account more than the check amount. Merrill Lynch where you have your account can probably help you. Since you already have an account there, should the check bounce they will deduct the amount from your account.
Probably there is a high fee should it bounce.
You don't need a particular person, just copy the check and get a receipt. When you can use those funds, I'm sure they can tell you. It will not be immediate. Whoever is issuing the check can wire the money to your account. The money is immediately removed from their account Not sure if you would want to do that, bother them? Give them you account number? There is likely a fee.

Not a concern if monies are coming from a bank. If you use citizens wire fee is pretty ugly.

[asianthree]

We use Merrill Lynch in LSL. Very nice people, very happy to take the check deposit, with no issues. We discussed depositing in our BOA, then transfer to ML. Their recommendations direct to Merrill Lynch account, less paperless trail, for accountant.

BOA savings account manager in TV also suggested when you have both accounts, it’s better to direct deposit, than have to do a transfer.

We moved monies from different jobs so only one account, as each check came, we walked it to Merrill Lynch.

[DAVES]

That was back in the early 70s, we were young and no one taught us about stocks.

Huh? Math escapes many. If you have a million 1,000,000 and you make 10% one year, you have 11000,000 if you lose 10% the next year you have 990000. HUH 10,000 vanished.
The math is the same no matter what you have a dollar or a trillion whatever a trillion is.

Too many forget 1+1=2. Stock gains is in reality after taxes and inflation. With the CPI at 6.2%. I need to make roughly 9% to be even.

[DAVES]

Not a concern monies are coming from a bank. If you use citizens wire fee is pretty ugly.

I've never used them. Frankly I've not wired money in years. Not sure how I did it. Perhaps from a brokerage? The fee was either zero or not much.

The original poster said large check. I don't know what that means-LARGE. So many options. Here it is an out of state check and will take time to clear. If, I recall it is like 10 days. Should it bounce the bank will charge your account, even after the ten days.
I had that happen. If the original poster does not have an account equal to the check amount. It gets more difficult. Reason I suggested they go to the local Merrill Lynch office.

[Carpe Diem]

Clay Palmer. Lake Sumter Landing office.

[asianthree]

I've never used them. Frankly I've not wired money in years. Not sure how I did it. Perhaps from a brokerage? The fee was either zero or not much.

The original poster said large check. I don't know what that means-LARGE. So many options. Here it is an out of state check and will take time to clear. If, I recall it is like 10 days. Should it bounce the bank will charge your account, even after the ten days.
I had that happen. If the original poster does not have an account equal to the check amount. It gets more difficult. Reason I suggested they go to the local Merrill Lynch office.

Guessing OP is either selling a home, or transferring from different financial group, post didn’t mention personal checks. Any check from either is most likely coming from an out of state bank. Out of all the checks we have deposited to Merrill, all were out of state. Took 12 to 48 hours to clear depending on the day.

One can’t draw off the deposit until your financial institution clears the check. You personal money isn’t effected. Either way if check isn’t good, neither is the financial institution their dealing with:1rotfl:.

Thinking when they say large deposits, $50,000 and up comes to mind.

[thelegges]

Thanks everyone for the recommendation for ML in Lake Sumter. Good to get first hand advice from actual customers.

Office was very friendly, made copies of the check for our account, answered couple of questions we had. Offered to help if we needed to transfer anything to different account if needed.

Our guy in Michigan is retiring in December, so good time to find an advisor in Florida. Then again if I can convince our Michigan guy to leave the snow, move here, it would be a win win for both:a040:

[DAVES]

I've made three moves in the United States and have kept the same RBC advisor. It is easy to stay with same advisor and work together via telephone and Zoom.

Interesting for all it is a matter of OPINION and experience. First of all there is a difference between an ADVISOR and a SALESMAN. Many years ago, we were living in New York. We had a 6% state tax and a 3% city tax on top of Federal tax. Things were different. Returns on tax free bonds etc. For many, perhaps a secret. On the same resale bond, there is a sliding price scale. If, they sell the same bond at a higher price the salesperson makes more and the buyer makes less. I found a guy at RBC who offered me better prices and I bought quite a bit from him. He left RBC and I got a letter suggesting I continue with hi at the new firm. Their SECURE records-clearly were not.
I got a letter from RBC that they wanted me after many years to fill out forms with my information. Clearly this guy left with their files.

Are they better or worse than others? I don't know. It could not be more clear that in my case they did not secure my records. Bonds. They, today are no longer bearer bonds.
You need a brokerage to hold them for you. They started to bill me fees to hold my bonds that they SOLD to me. That obviously reduces the quoted return on the bond.
Unfair-perhaps, but I will never do business with RBC again.

[JoelJohnson]

As it s said a rising tide raises all boats. The past 6-7 years actually 10-15 years the stock market has been up. "He lost me so much money," was he good? The question to ask is did you loose less than the S&P index?

We are easily lulled into thinking the market only goes up. That also applies to real estate. Except when they don't.

I "Lost money" with M/L 47 years ago. Back then they were out for themselves.