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Other fees may apply. Free and $0 means there is no commission charged for these trades. $0 option trades are subject to a $0.65 per-contract fee. Sales are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs. To learn more about Merrill pricing, visit our Pricing page.
Footnote
Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge® Self-Directed brokerage account. Brokerage fees associated with, but not limited to, margin transactions, special stock registration/gifting, account transfer and processing and termination apply. $0 option trades are subject to a $0.65 per-contract fee. Other fees and restrictions may apply. Pricing is subject to change without advance notice.
For broker-assisted trades through Merrill Edge, you will be charged a fee equal to the lower of $29.95 or 5.00% of the principal amount of the transaction. Further, there are indirect fees, such as annual management and other similar fees, that are charged by the manager or sponsor of an exchange-traded fund and of a closed-end fund, as disclosed in the product's prospectus.
Footnote
Please review the applicable
Merrill Guided Investing Program Brochure (PDF) or
Merrill Guided Investing with Advisor Program Brochure (PDF) for information including the program fee, rebalancing, and the details of the investment advisory program. Your recommended investment strategy will be based solely on the information you provide to us for this specific investment goal and is separate from any other advisory program offered with us. If there are multiple owners on this account, the information you provide should reflect the views and circumstances of all owners on the account. If you are the fiduciary of this account for the benefit of the account owner or account holder (e.g., trustee for a trust or custodian for an UTMA), please keep in mind that these assets will be invested for the benefit of the account owner or account holder. Merrill Guided Investing is offered with and without an advisor. Merrill, Merrill Lynch, and/or Merrill Edge investment advisory programs are offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") and Managed Account Advisors LLC ("MAA") an affiliate of MLPF&S. MLPF&S and MAA are registered investment advisers. Investment adviser registration does not imply a certain level of skill or training.
The Chief Investment Office (CIO) develops the investment strategies for Merrill Guided Investing and Merrill Guided Investing with Advisor, including providing its recommendations of ETFs, mutual funds and related asset allocations. Managed Account Advisors LLC (MAA), Merrill's affiliate, is the overlay portfolio manager responsible for implementing the Merrill Guided Investing strategies for client accounts, including facilitating the purchase & sale of ETFs and mutual funds in client accounts and updating account asset allocations when the CIO's recommendations change while also implementing any applicable individual client or firm restriction(s).
You may also be able to obtain the same or similar services or types of investments through other programs and services, both investment advisory and brokerage, offered by Merrill; these may be available at lower or higher fees than charged by the Program. The services that you receive by investing through Merrill Guided Investing or Merrill Guided Investing with Advisor will be different from the services you receive through other programs. You may also be able to obtain some or all of these types of services from other firms, and if they are available, the fees associated with them may be lower or higher than the fees we charge.
Footnote
Merrill Edge Self-Directed was ranked in NerdWallet's article "
Best Brokerage Accounts for Online Stock Trading popup," published January 31, 2025, and received an overall rating of 4.4 out of 5 stars, from
NerdWallet popup published October 28, 2024. NerdWallet evaluates brokers based on investment selection, trading platform, customer support, account fees, trading costs, mobile app and cash sweep rates. NerdWallet and the NerdWallet logo are trademarks owned by NerdWallet, Inc. and used with permission.
Learn more about the methodology at NerdWallet popup. Rankings and recognition from NerdWallet are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Extel, formerly Institutional Investor Research, announced BofA Global Research as one of the Top Global Research Firms in 2024 based on surveys held throughout the year. Extel creates rankings of the top research analysts in a wide variety of specializations, drawn from the choices of portfolio managers and other investment professionals. The 2024 Global Research Leaders ranking lists sell-side research providers by the combined total number of positions earned across Extel's 2024 research team surveys. Results of each survey are published separately throughout the year, beginning in March 2024 with the Japan Research Team and concluding in December 2024 with the Global Fixed Income Research Team. Rankings for each poll are determined strictly by using numerical scores. Extel takes the number of votes awarded to each firm in a sector and weight it in relation to the size of the institution responding and rating it awarded. Firms are designated runners-up when their scores fall within 35 percent of the third-place scores. BofA Global Research is research produced by BofA Securities, Inc ("BofAS") and/or one or more of its affiliates. BofAS is a registered broker-dealer,
Member SIPC popup, and wholly owned subsidiary of Bank of America Corporation. Rankings and recognition from Extel are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Merrill Guided Investing received an overall rating of 4.5 out of 5 stars in
Investopedia's Best Robo-Advisors 2025, April 30, 2025 popup. Rankings based on data collected April 5, 2025 to April 11, 2025. Investopedia's team of researchers and experts conducted an all-encompassing data collection and review process of 20 digital wealth management platforms across nine key categories, including Portfolio Management, Goal Planning, Portfolio Contents, Fees, User Experience, Account Services, Account Setup, Customer Service, and Security & Education. These categories were then broken down into 60 weighted criteria. Investopedia extracts critical data points that are weighted by their quantitative model.
Go to third-party website Learn more about the methodology at Investopedia popup. Reprinted with permission of Investopedia. Rankings and recognition from Investopedia are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Footnote
Preferred Rewards Program Eligibility. You can enroll, and maintain your membership, in the Bank of America Preferred Rewards
® program if you have an active, eligible personal checking account with Bank of America
® and maintain the balance required for one of the balance tiers. The balance tiers are $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, and $1,000,000 for the Diamond Honors tier. Balances include your combined, qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:
- a three-month combined average daily balance in your qualifying deposit and investment accounts, or
- a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.
Refer to your
Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Bank of America Private Bank clients qualify to enroll in the Diamond Honors Tier regardless of balances. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please call Employee Financial Services or refer to the Bank of America intranet site. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible to participate on customized terms. Refer to
CEBI Program for details.
Footnote
Important Information: On or about May 26, 2026, Preferred Rewards will become BofA Rewards. All customers with an open, qualifying personal checking account in good standing with Bank of America will be eligible for enrollment in BofA Rewards. If you are enrolled in Preferred Rewards on the transition date, your enrollment will be automatically changed to BofA Rewards. Your Preferred Rewards benefits will change following conversion to BofA Rewards and your BofA Rewards tier and benefits are subject to change under the new terms and conditions. Any open, eligible card accounts earning a Preferred Rewards bonus prior to or about May 26, 2026, will retain the current benefit for a period of time, no less than six months. For more details and a summary of changes, new benefits and eligibility requirements for BofA Rewards, please refer to:
https://www.bankofamerica.com/BofARewards B of A Rewards program.
Preferred Rewards Credit Card Preferred Rewards Bonus. Certain credit cards are eligible to receive a Bank of America Preferred Rewards
® bonus. Enrolled Preferred Rewards members with eligible Bank of America
® credit cards can receive a Preferred Rewards bonus of 25% for the Gold tier, 50% for the Platinum tier, or 75% for the Platinum Honors, or Diamond Honors tier on each purchase. If your card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus. You will not receive the Preferred Rewards bonus when you redeem your cash rewards or points. The Preferred Rewards bonus for eligible cash rewards credit cards will be applied after all base and bonus cash rewards have been calculated on a purchase. For example, a $100 purchase that earns 3% ($3.00) will actually earn $3.75, $4.50 or $5.25 based on your tier when the purchase posts to your account. For all other eligible card types, a purchase that earns 100 base points will actually earn 125, 150, or 175 points, based on your tier when the purchase posts to your account. The Preferred Rewards bonus does not apply to the bonus earn for certain programs and is not applied to any account opening bonus or promotional bonus offer, unless we indicate otherwise. This information can be found in the Program Rules associated with those credit cards. Other terms and conditions apply. Please refer to your card's Program Rules for details about how you will receive the Preferred Rewards Bonus. Program Rules are mailed upon account opening and are accessible through the rewards redemption site via Online Banking or by calling the number on the back of your card.
View a complete list of ineligible cards.
Footnote
Preferred Rewards First Mortgage. The origination fee reduction and/or interest rate reductions are offered to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their rewards tier at the submittal of a mortgage loan application to Bank of America, N.A. for a new purchase or refinance loan (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). The rewards tier is not subject to adjustment after the application is submitted. The origination fee reduction ($200 for Gold tier, $400 for Platinum tier and $600 for Platinum Honors tier) will not exceed the amount of the Lender Origination Fee. In order to receive the full Diamond Honors interest rate reduction of 0.375% the client must be approved for an eligible loan and enroll in PayPlan, our automatic payment service, designating an eligible Bank of America checking or savings account. To allow us to apply and disclose the interest rate reduction and close the loan timely, we encourage Diamond Honors tier clients to enroll in PayPlan as soon as possible and prior to the expected loan closing date. PayPlan is not available on VA and FHA products and Diamond Honors tier clients closing loans without PayPlan enrollment receive a 0.125% interest rate reduction benefit. For adjustable rate mortgages (except PrimeFirst
®), the discounts are applied to the interest rate only during the initial fixed-rate period. For PrimeFirst
® adjustable rate mortgages, the discount is applied to the margin and cannot reduce the margin below 0%. Some Preferred Rewards benefits cannot be combined with other offers. All mortgage interest rate reduction offers may be subject to a maximum interest rate reduction limit. For further details, Refer to the Preferred Rewards section of the
Personal Schedule of Fees. Preferred Rewards benefits are non-transferable and are not available with Custom Residential Real Estate financing. Credit and collateral subject to approval. Terms and conditions apply. Programs, rates, terms and conditions subject to change without notice.
Footnote
Important Information: On or about May 26, 2026, clients who apply for an Auto loan and are enrolled in BofA Rewards™ will receive an interest rate discount of 0.10% for Member, 0.25% for Preferred Plus tier, 0.35% for Preferred Honors tier, 0.50% for Premier tier.
Preferred Rewards Auto Loan. Preferred Rewards members who apply for an auto purchase loan receive an interest rate discount of 0.25% for Gold tier, 0.35% for Platinum tier, and 0.50% for Platinum Honors and higher based on their Preferred Rewards tier at the time of auto loan application. The maximum Preferred Rewards interest rate discount on a Bank of America auto loan is 0.50%. This interest rate discount is not reflected in all our published rates on our website but will be confirmed and reflected in the interest rate quoted upon loan approval. Discounts are only available on auto loan applications submitted by you directly to Bank of America through its website, Financial Centers, or Bank call centers. Discounts are not available for motor vehicle leases or for applications sourced from car dealerships, car manufacturers, or third-party branded/co-branded relationships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.
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