Merrill lynch trading brokerage account customer service
Merrill Lynch is the second full-service brokerage house to get on the Net, joining Dean Witter , the Number Three brokerage house. Although only 2 percent of stock trades occur over the Internet or over proprietary networks, and only roughly 10 percent of PC households retrieve investment updates via the Internet, The Yankee Group predicts growth. As more companies go online, it will validate the business. One reason Merrill Lynch may not have to fear losing customers to discount brokers is because brand loyalty exists in the brokerage business.
One Yankee Group study found that while 40 percent of bank customers said they felt no loyalty to their bank, only 12 percent of brokerage house customers felt the same way. Sponsored Stories Powered By Outbrain. Oracle Wins Latest Round vs.
Jessi Hempel Jessi Hempel. Klint Finley Klint Finley. Adam Rogers Adam Rogers. The fact is that there are maybe three or four US firms that say they specialize in dealing with US expatriate clients but for most of them these clients do not constitute the majority of their business.
If investment management is important to you, then you should look for a firm where your investments will be managed or advised by a Chartered Financial Analyst CFA. This designation is the most widely accepted portfolio manager designation in the world, and the only global portfolio management credential.
This denotes a Certified Financial PlannerTM, which is the most widely accepted, and again the only global, financial planning designation. It may also be important to you whether the investment accounts offered are multiple currency and whether money can be wired in and out in non-US currency and exchanged at a good rate if you spend your money in something other than US Dollars. Also, does the investment account offer access to non-US investment markets and are the trading fees competitive?
Many brokers advertise non-US market access but placing trades on non-US exchanges carries a hefty fee or currency conversion cost.
If you are a non-US resident, international investments may be an important part of your portfolio. Another important consideration is whether the investment advisor, if you choose to use one, charges a reasonable fee and actually does something on an ongoing basis to earn that fee.
These days most advisors charge ongoing fees rather than commissions but if all the advisor does is park your money in a range of passive investments and collects his fee every quarter for doing not much then you might as well just pay a one-off fee for a financial plan and do it yourself or use one of the new roboadvisor offerings.
Finally, you should choose an advisor who has been in the US expat business for a while because they will most likely also understand non-investment related issues such as cross-border taxation and estate planning and will have an extensive referral network for such resources.
They should also understand how non-US investments and assets may impact on your US tax and estate planning picture. If you are an American expat and are being forced to close your US investment account, or would simply like to consider the services of a financial advisor specializing in US expatriate clients, I encourage you to contact us for a free, no-obligation, consultation by completing the form below. We have been serving clients like you since and would be happy to propose solutions to put your mind at ease regarding the cross-border financial issues you face.
Yemen Zambia Zimbabwe State of residence if residing in the U. Dollar-cost averaging does not assure a profit and does not protect against loss in declining markets.
Such a plan involves continuous investment in securities regardless of the fluctuation of price levels of such securities. An investor should consider his or her financial ability to continue his or her purchases through periods of low price levels. Travel Second Home Recreational Vehicle e. Yes, sign me up No thanks. This article is for informational purposes only; it is not intended to offer advice or guidance on legal, tax, or investment matters.