MerrillEdge - Financial Advisors

MerrillEdge - Financial Advisors
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#1

Hello,

For the last 6 months I’m trying to find a good financial advisor in Boston area. I live near Burlington MA. I had introduction calls with few advisors from some wealth building companies around here but didn’t feel they are good fit for me. I don’t have lots of money to put in to a investing at the beginning. I just wanted to start small and contribute to a investment product monthly. Also I want to get financial advise about my current financial situation (eg: should I buy a house / opening up a Roth IRA / advise about my 401K etc.)

Later I was thinking about Merrill Edge and their financial advisors. Saw good reviews about Merrill Edge, but there is no way to find their advisors are good or bad. I couldn’t find a place where i can find reviews for the financial advisors.

Anybody has experience with Merrill Edge and their financial advisors?


#2

Hey @Dodge – Welcome to the NerdWallet community!

It’s difficult to generalize about groups of advisors, because whether any particular expert is “good” is going to depend on that individual as well as how well that person’s expertise and style match your needs.

Here at NerdWallet, we recommend looking for a fee-only advisor – someone to whom you pay a fee for a service, and that fee is clearly stated before the service starts – rather than commission-based advisors who get paid for offering particular products. (And if an advisor says they are offering their services for free, don’t believe it and be very wary about hiring that person.)

Here is our story on how to find a financial advisor. If you scroll to the bottom of that story, you’ll see some websites where you can search for an advisor that best suits your needs. For example, I’m a big fan of the XY Planning Network, because they are all fee-only and it’s super easy to search on their website for an advisor who matches your needs. You’ll also see in our “find an advisor” story a lot of information about robo-advisors – they are a very low-cost option for getting your money managed, and many of them now offer access to live human advice, too, so that might be a good option for you.


#3

I’ll echo Andrea’s recommendations. XY Planning Network is a good resource for fee-only planners, and they all offer a monthly retainer option that can be a good fit for those who are just getting started.

Robo-advisors that offer access to human advisors are a great option for those who want a less expensive solution. Vanguard and Schwab are among those that offer this feature. Here’s our list of the best robos:


#4

Thank you for replying!!