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Getting Started

Invest in your future

Investing can help you pursue your goals. Learn how to get started and discover all the resources available at Merrill.

Why invest?

What should I know before investing?

What could I invest in?

Why Merrill?

Why invest?

See how investing compares to saving and learn the benefits of getting started early.

Investing can help you reach your goals

Investments can help to reach your goals in two ways: potentially generating income with certain investment types or increasing value over the long term.

Three possible paths

Drag the slider to see the potential growth of $10,000 over 20 years

Years

These projections are based on past performance, but there is no guarantee you will be able to get these returns in the future.
This chart is a hypothetical example meant for illustrative purposes only. It does not reflect an actual investment, nor does it account for the effects of taxes, any investment expenses or withdrawals. Returns are not guaranteed and results will vary. Investment returns cannot be predicted and will fluctuate. Investor results may be more or less. It is not intended to serve as investment advice since the availability and effectiveness of any strategy are dependent upon your individual facts and circumstances. Assumes an interest rate of 1% (online savings) and an investment return of 7% annually.

Benefits of starting early

[Visual of "The effect of time on your retirement account"]
[Visual Disclaimer: See important information at the end of this video.]
When you're young, you're in one of the best positions you'll ever be in to start planning for retirement.
It might seem strange to think about retiring from a career you probably just started, but setting aside even a small amount of money in a retirement account now,
[Visual of a $10 contribution to a retirement account]
can have a big impact on your savings several decades down the line.
That's because time can be your best ally when it comes to investing for retirement.
Let's take a look at what happens if you start investing just a small amount for your retirement in your early twenties, say, $10 a week
[Visual of $10 a week multiplied by 10 years]
over the course of 10 years in a tax-deferred retirement investment account, like a traditional 401(k) or IRA. Now, when we say tax deferred, that means you'd pay taxes later, generally in retirement.
And, for example, a contribution to a traditional IRA could be eligible for a tax deduction, depending on your income and whether you are participating in an employer plan.
In any case, let's say that these hypothetical investments grow at a rate of 7% per year. Now, 7% has historically been a pretty decent return on investments over long periods, but it certainly isn't guaranteed.
There could be years when your investments perform really well, and the return is even higher.
[Visual of a line graph shows arrow going up with 18% growth]
And there could be years when your investments don't do as well, and you actually lose money.
[Visual of a line graph going down showing a loss of 18%]
Unlike a deposit account at a bank, an investment account is not FDIC insured and is not bank guaranteed. But for the sake of this hypothetical example, let's say that your money does grow at an average constant rate of 7% per year.
Setting aside $10 a week, every week for 10 years, adds up to $5,200 of principal.
But over the course of this time, if your investments have had the opportunity to grow at a rate of 7% each year, that could come out to a total of about $7,700. So that would be an extra $2,500 that you could theoretically earn in your first 10 years of making steady contributions of $10 a week.
[Visual Disclaimer: *This is for hypothetical illustration only]
Now, you might think that isn't much after 10 years, and hey, you could use that money to save for an awesome vacation instead. But let's take a look at what happens to that $7,700 over the next 10 years.
[Visual of graph appears starting off with $7,700]
Even without contributing any more money to your account, which you'd hopefully still be doing, at a 7% annual rate of return, that $7,700 could grow into about $15,150. And over 20 years, about $29,800. And after 30 years, which could be around the time you start thinking about retiring, it might've grown to about $58,600.
[Visual Disclaimer: *This is a hypothetical example for illustration purposes only]
$58,600 is a substantial amount that could come from an initial investment of just $10 a week for 10 years.
That's $53,400 that was earned off of an initial investment of $5,200 in this scenario.
Now of course, this example is hypothetical.
It doesn't take into account inflation, which will also have a substantial effect on the value of your funds over time.
[Visual of inflation taking a substantial portion of value off of the hypothetical increase in value]
And there's no guarantee that you can get a 7% return. And in a tax-deferred account like a traditional 401(k), you'll need to pay taxes on what you withdraw when you retire.
There may also be expenses associated with your investment account.
As well as expenses and fees associated with individual investments.
[Visual of account fees and individual investment fees taking a portion of value off of the hypothetical increase in value]
And all of these things can have an impact on the performance of your account over time.
[Inflation, taxes and fees are represented]
To learn more about your particular account, you can speak to an investment professional. But getting back to our example:
Over time, these investments have had the opportunity to grow, and in addition to that growth, any money you might earn from your investments, when reinvested, can provide the potential to earn even more.
While it's never too late to start contributing toward retirement, setting aside just a few extra dollars now can give your retirement plan a great start.
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Disclosure:
The material provided on this video is for informational use only and is not intended for financial or investment advice.
Bank of America Corporation and/or its affiliates assume no liability for any loss or damages resulting from one's reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment management.
Bank of America and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making financial decisions.
Investment products:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
© 2022 Bank of America Corporation. All rights reserved. 4848782

Getting started early can help your money work harder

Time has the potential to benefit the growth of your investing accounts. See how starting early could impact your financial future.

What should I know before investing?

Before you start investing, it may be helpful to understand some of the following concepts related to the market.

Prioritize your financial goals

Education costs, retirement savings and more — managing all your goals can sometimes seem overwhelming. These insights can help you to pursue them all.
Learn more about prioritizing your financial goals
  • Write your goals down
    Start by describing what's most important to you and what you want out of life.
  • Define your priorities
    Decide whether each goal you've listed is essential, important or aspirational.
  • Determine how much you'll need to save
    Budget for essentials first, then move onto your goals.
  • Consider the timeframe of your goals
    Decide how soon you'll need the money you are saving or investing.
  • Review your plan periodically
    Modify your goals as your life circumstances or timelines change.

What could I invest in?

Now that you're ready to invest, develop an approach for choosing the investments that may be right for you.

Why Merrill?

Investing with Merrill isn't just simple, it's personalized. Find the ways of investing that may be right for you.

What kind of Merrill account is right for you?

If you're not sure which Merrill account to open, this is a good place to start. In this video, we'll break down the important information that will help you decide the type of account that works best for your needs as well as the amount of guidance from Merrill that you want.

How to Choose & Open an Account

Disclosure:
Please see important information at the end of this video.
When you first start investing, it can be a really exciting time. But just in case you're also feeling a bit overwhelmed… you're not alone. Most people feel that way at first.
But you only have to make two decisions before opening your account.
You choose what kind of account is right for you… and how much guidance you want for that account.
Sounds doable, right? I'll go through it on my screen and show you exactly where to find the information you need.
Okay, so most people are either going to select a general investing account… or one of Merrill's Individual Retirement accounts, also known as IRAs.
If you're focused on retirement, start here and take a look at "Compare IRAs" to understand the different options. Or you can even try Merrill's IRA selector tool if that works better for you.
If you aren't looking at retirement right now, Merrill has general investing accounts that offer more flexibility to take out money before you retire.
You just decide if it'll be in your name alone, or a joint account. And if you're opening it for someone under 18, you need to make it a "custodial" account.
One thing to keep in mind, if you're moving any assets from another investment company, the easiest thing to do is to create the same kind of account with Merrill. Anything else can impact your taxes.
Now, if you have assets from an old job or 401k, there are other things to consider. But either way, Merrill has experienced people who can help you, and they're available 24/7.
Okay, once you've decided what kind account you want to open, you can pick how you want to work with Merrill.
Would you rather go with your own investment ideas, or have one of Merrill's professionals manage and invest your account for you?
Let me tell you a bit about both choices.
If you want to be the one steering your own investments, Merrill Edge Self-Directed may be the way to go. This choice gives all kinds of access to flexible tools, research and expert insights to help you implement your investing ideas.
[Begin content appearing on screen]
Merrill Edge Self-Directed
  • Expert Insights
  • Wide range of investment choices
  • Actionable investing ideas
  • Unlimited free online stock, ETF, & options tradesFootnote asterisk *
Disclosure:
Footnote asterisk appearing on screen under list * Options contract and other fees may apply.
[End content appearing on screen]
If you aren't so interested in being a hands-on investor, you might decide on Merrill Guided Investing. You just answer a few questions online and Merrill will recommend a strategy and manage the investments for you.
With this option, you pay a monthly program fee and that covers investing and management. You can even choose to work directly with an advisor.
So, once you choose your account type and how you want to work with Merrill, it's time to actually open the account. You can do it all from your computer, or even your phone.
And if you're already a Bank of America client, use that log-in and it'll pre-fill most of your application.
Once you get email confirmation that your account is live, you can fund it and start trading from any device. But don't worry… we have other videos and plenty of support as you move along.
So, don't feel overwhelmed. You're just a few decisions and couple clicks away from building your financial future with Merrill. And that's pretty exciting. Thank you for watching.
Disclosure:
Footnote asterisk appearing in video end disclaimers 
Other fees may apply. Free and $0 means there is no commission charged for these trades. 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.
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.
Merrill Guided Investing and Merrill Guided Investing with Advisor have an annual program fee of 0.45% and 0.85%, respectively, based on the assets held in the account. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary; please refer to each fund's prospectus. To learn more about pricing, visit the Merrill Guided Investing Program Brochure (PDF) or the Merrill Guided Investing with Advisor Program Brochure (PDF).
Investing involves risk. There is always the potential of losing money when you invest in securities.
Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
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.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, Member SIPC, and a wholly-owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC, and wholly owned subsidiaries of BofA Corp.

Merrill Private Wealth Management is a division of MLPF&S that offers a broad array of personalized wealth management products and services. Both brokerage and investment advisory services (including financial planning) are offered by the Private Wealth Advisors through MLPF&S. The nature and degree of advice and assistance provided, the fees charged, and client rights and Merrill's obligations will differ among these services. The banking, credit and trust services sold by the Private Wealth Advisors are offered by licensed banks and trust companies, including Bank of America, N.A., Member FDIC, and other affiliated banks.
Trust and fiduciary services are provided by Bank of America, N.A., Member FDIC, a wholly owned subsidiary of BofA Corp.
Banking products are provided by Bank of America, N.A. and affiliated banks. Members FDIC and wholly owned subsidiaries of Bank of America Corporation.
Clients enrolled in Preferred Rewards receive a Preferred Rewards discount off the Merrill Guided Investing program's annual asset-based fee of 0.45%, and the Merrill Guided Investing with Advisor and Merrill Edge Advisory Account programs' annual asset-based fee of 0.85% for any of their accounts enrolled in the respective advisory programs. Preferred Rewards enrolled clients receive a discount of 0.05% off of the annual rate for the Gold tier, 0.10% for the Platinum tier, or 0.15% for the Platinum Honors, Diamond and Diamond Honors tiers based on their Preferred Rewards tier effective at the time the applicable advisory program fee is calculated. It may take up to 30 calendar days for changes to your Preferred Rewards status or tier to be associated with and effective for your accounts in the advisory programs. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary; please refer to each fund's prospectus.
Preferred Rewards for Wealth Management clients other than Bank of America Private Bank clients, do not receive the Merrill Guided Investing fee discount.
Investment products:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
© 2022 Bank of America Corporation. All rights reserved. 2929574

Discover tools and resources to help you find investments and manage your portfolio with Merrill Edge Self‑Directed.

Search for Ideas

Idea Builder is home to investments for your portfolio — particularly if sustainable investing is important to you. Find investing ideas from top global minds and align your portfolio with a rapidly transforming world.

Evaluate individual securities

Is the company you're invested in aligned with your values? With ESG ratings from MSCI in Stock Story, you can be informed about the impact of any public company.Footnotes 3,4

Evaluate your portfolio's impact

With Portfolio Story, you can see how well your investments score against environmental, social and governance criteria by MSCI.Footnotes 3,4

See Sustainable Investing at Merrill in action

Learn how to find sustainable and impact investments and monitor your portfolio's impact.

How to Invest with an Impact

On screen copy:
How can I make an impact with my investing?
Disclosure:
Please see important information at the end of this video.
What if you could make investments that have the potential to provide a financial return while also focusing on companies committed to making the world a little bit better along the way?
It's possible, through something called Sustainable and Impact Investing. Now I say "possible" because let's face it, all investing comes with risk.
But with that in mind, you can make investments with the potential to generate a measurable social and environmental impact while also gaining value over time... and Merrill Edge Self-Directed has ways to help you find them.
I'll show you where to start looking on my screen, so you can do it yourself.
Once you log in to your account, you're going to be looking for information on ESG investments – that stands for environmental, social and governance.
So, you can choose the kind of impact that's important to you, and invest in something that might help build the future you want to see – like a world where companies treat their workers and customers fairly and help keep our environment healthy.
But whatever your priorities are, you can find your inspiration here, under "Investing Ideas."
It's an uncluttered, intuitive way to find investing themes that might interest you. There are pre-screened lists of environmental leaders, and you can even search topics you're interested in, like "water" to see choices that line up with what you're looking for.
And if you find a stock or fund that aligns with your priorities, it only takes a few clicks to dig deeper.
Whether you're looking at a particular stock or a fund like this one, you can see an overall ESG score or read a full ratings report from MSCI, who provide investors all over the globe with insights to better understand the potential impact of their investments.
Another feature within the fund's story is here. You can see each fund's top holdings and then take a closer look at those companies to see how they rate.
With access to tools like these, you don't have to be a research expert to find and validate how the stocks or funds align with the impact you'd like to make.
Merrill even has tools to help you review your current portfolio through a social and environmental lens. They help you become aware of what you own, and where opportunities may exist.
So, when you visit your portfolio's dynamic insights page, just expand your Impact Investing window to see what your portfolio's overall ESG score is.
You can also click over to your portfolio story to find the ESG details for your individual holdings too.
As always, additional help is just a click or call away. And if you ever decide that you'd like a bit more advice and guidance, Merrill can also connect you with an advisor to talk about other sustainable impact investing choices.
So that's it. If you're interested in trying to do some good for the world while you invest, now you know where to find ideas that can put your values into action.
Thanks for watching, and for choosing Merrill.
On screen copy:
What would you like the power to do?®
Merrill logo
Bank of America logo
Disclosure:
Investing involves risk. There is always the potential of losing money when you invest in securities.
Footnote 
Institutional Investor magazine announced BofA Global Research as one of the Top Global Research Firms popup in 2021 based on surveys held throughout the year. The magazine creates rankings of the top research analysts in a wide variety of specializations, drawn from the choices of portfolio managers and other investment professionals at more than 1,000 firms. 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. Learn more about the methodology at Institutional Investor popup. Rankings and recognition from Institutional Investor 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.
MSCI ESG Research LLC., a Registered Investment Adviser under the Investment Adviser Act of 1940, is an independent provider of ESG data, reports and ratings based on published methodologies. MSCI ESG Research LLC is not affiliated with Bank of America Corporation or any of its affiliates. This material does not take into account a client's particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory and other services. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining which service or services to select. For more information about these services and their differences, speak with your Merrill financial advisor.
Footnote 
Sustainable and Impact Investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance. Impact investing and/or ESG investing has certain risks based on the fact that ESG criteria excludes securities of certain issuers for nonfinancial reasons and therefore, investors may forgo some market opportunities and the universe of investments available will be smaller.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").
Investment products:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
© 2022 Bank of America Corporation. All rights reserved. 3372686

What does a connected experience mean for you?

With a connected experience, you can access your Bank of America banking and Merrill investing accounts from one app. It's quick and easy to transfer funds between your eligible accounts, plus you can get help from customer support whenever you need it.Footnote 6
Learn more about investing and banking connected
For illustrative purposes only

Ready to get started?

or call us at 888.637.3343
Footnote 
Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
Footnote 
This information should not be construed as investment advice and is subject to change. It is provided for informational purposes only and is not intended to be either a specific offer by Bank of America, Merrill or any affiliate to sell or provide, or a specific invitation for a consumer to apply for, any particular retail financial product or service that may be available.

The Chief Investment Office (CIO) provides thought leadership on wealth management, investment strategy and global markets; portfolio management solutions; due diligence; and solutions oversight and data analytics. CIO viewpoints are developed for Bank of America Private Bank, a division of Bank of America, N.A., ("Bank of America") and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S" or "Merrill"), a registered broker-dealer, registered investment adviser and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp.").
Footnote 
Sustainable investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.
Footnote 4 Certain information contained herein (the "Information") has been provided by MSCI ESG Research LLC, a Registered Investment Adviser under the Investment Advisers Act of 1940, and may include data from its affiliates (including MSCI Inc. and its subsidiaries ("MSCI")), or third party suppliers (each an "Information Provider"), and it may not be reproduced or redisseminated in whole or in part without prior written permission. The Information has not been submitted to, nor received approval from, the US SEC or any other regulatory body. The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund's assets under management or other measures. MSCI has established an information barrier between equity index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto. © 2022 MSCI Inc. All rights reserved.

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 
Certain banking and brokerage accounts may be ineligible for real-time money movement, including but not limited to transfers to/from bank IRAs (CD, Money Market), 529s, Bank of America Advantage SafeBalance Banking™, Credit Cards and transfers from IRAs, Loans (HELOC, LOC, Mortgage) and accounts held in the military bank. Accounts eligible for real-time transfers will be displayed online in the to/from drop down menu on the transfer screen.
Investing involves risk including possible loss of principal. Past performance is no guarantee of future results.

Investments have varying degrees of risk. Some of the risks involved with equity securities include the possibility that the value of the stocks may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the U.S. or abroad. Bonds are subject to interest rate, inflation and credit risks. Investments in foreign securities (including ADRs) involve special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments. These risks are magnified for investments made in emerging markets. Investments in a certain industry or sector may pose additional risk due to lack of diversification and sector concentration. There are special risks associated with an investment in commodities, including market price fluctuations, regulatory changes, interest rate changes, credit risk, economic changes and the impact of adverse political or financial factors.

5075616-EXP11302023
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Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").
Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity


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