Bank of America and its affiliates do not provide legal, tax or accounting advice. Annual Fee $500. 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.”). Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. At Upon collection of the insurance proceeds, the regular fee schedule for Trust Accounts will apply. This increase reflects a higher fee imposed by the Depository Trust Company (DTC) because manual processing and review of the required documentation is necessary. 443 0 obj <> endobj Minimum Fee $1,000. Additional fees may apply for special or research items. This is all about you, from what you hope to achieve to what keeps you up at night. In addition, effective February 1, 2017, changes will be made to the Program’s Fee Schedule. 1 As of July 27, 2020, the United States Postal Service is unable to deliver mail to the following twenty-three (23) countries: Bermuda, Bolivia, Botswana, Brunei, Cayman Islands, Costa Rica, Cuba, Dominican Republic, Ecuador, Fiji, French Polynesia, Guatemala, Haiti, Honduras, Iraq, Libya, Mauritius, Nepal, Panama, Papua New Guinea, South Africa, Venezuela and Yemen. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. Banking products are provided by Bank of America, N.A. You have priorities and we have the insights you need to keep them front and center. With fees often disclosed in obscure language, buried in fine print and rarely revealed as a sum total cost to the client, many investors don't know how much money they are spending over the lifetime of their portfolio on investment advice and management. Due to COVID-19 and its impact on the current environment, the United States Postal Service is unable to deliver mail to certain foreign countries1. SEC Share Class Selection Disclosure Initiative. Hi, I’m Mike Pelzar, Head of National Trust Services at Bank of America. 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.”). BIA, WCMA, WCMA SUB 1 free per month/ $5 per statement thereafter Transactional. For questions about creating or managing your Charitable Gift Fund account, contact your Bank of America Merrill Lynch Advisor, your U.S. Trust Advisor or the Charitable Gift Fund at 1.888.703.2345, 8:30 a.m. to 5:30 p.m., Monday through Friday. h�bbd``b`����8��b���� �DX �% �_ �� Both are wholly-owned subsidiaries of Bank of America Corporation. 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. Life Insurance Trusts are trusts that hold only Life Insurance and cash as assets. When I ask clients how they think about trusts, many describe them as a way to transfer wealth and help minimize estate taxes - and that’s true - but trusts are also used to meet a far wider range of needs. Their knowledge of their industries allows them to be creative in assessing opportunities and challenges, and proactive in suggesting solutions and strategies. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. endstream endobj 444 0 obj <>/Metadata 16 0 R/Names 473 0 R/Outlines 25 0 R/Pages 440 0 R/StructTreeRoot 35 0 R/Type/Catalog/ViewerPreferences<>>> endobj 445 0 obj <>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/StructParents 26/Tabs/S/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 446 0 obj <>stream 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.”). That same trust can be structured to provide for your spouse, children, grandchildren or future generations after you are gone. Merrill is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. Whether you are serving as trustee of your own trust or one created by someone else, your Merrill advisor can provide you with access to a range of services from Bank of America to help you—now, or in the future should your needs change. A trust can also distribute assets to charities or causes that you select, now or in the future. As a subsidiary of Bank of America, one of the largest commercial banks in the world, Merrill Lynch has vast resources that its investment advisors can use to maximize client returns. Many clients are relieved to know that the Specialty Asset Management group within Bank of America manages nonfinancial assets such as investment real estate, private business interests, oil and gas interests, timberland or farm and ranch land and can provide strategic advice as well as day-to-day management services. Is it better to leave IRA and 401(k) assets to my spouse and children or assets in my investment account. Clients should consult with their legal and/or tax advisors before making any financial decisions. Estate and Wealth Transfer Planning | Trust and Fiduciary Services from an Industry Leader. A clearing fee of $75.00 will be added to the underlying base commission (Canadian issues excluded) for buy or sell transactions. b1�X� Bd��#��C � !xH�w ��@B$�w$R�T $�*���'����d100I�?c�m� h�� sƀ���ưH����c�_��Xd�-��". While these changes may result in your Program Fee being lowered, you will not pay a higher Program Fee than the rates included in … Investment, insurance and annuity products: Then we can provide you with relevant answers. SCHEDULE OF ACCOUNT FEES Annual Base Charge Trustee or Co-trustee $1,200 Managing Agent $600 IRA $300 PLUS Fair Market Value of Assets under Management First $500,000 @ 1.50% Next $500,000 @ 1.15% Next $2,000,000 @ 0.75% Next $2,000,000 @ 0.50% There is a $49.95 IRA transfer or closeout fee. Merrill Lynch Wealth Management is a national investment advisory firm with offices in most major and mid-sized U.S. cities. Depending on your needs, Bank of America can assume sole responsibility for managing and administering your trust as trustee, serve alongside one or more individuals you select as co-trustees or take on selected fiduciary responsibilities by serving as agent for the trustee you select. Bank of America can also serve as successor trustee, assuming fiduciary responsibilities when the trustee you have selected no longer wishes to serve or is unable to do so. Settling an estate is complex and often requires technical knowledge and a substantial commitment of time that few individuals have. 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. © 2020 Bank of America Corporation. Learn more about our unparalleled knowledge and expertise. At Bank of America, we have the objectivity and resources to handle trusts and estates, from the simplest to the most complex.  In fact, we’ve been doing it for many generations. Merrill Edge is available through Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”), and consists of the Merrill Edge Advisory Center™ (investment guidance) and self-directed online investing. As a result, Merrill will be delaying mailings to impacted clients. If you have accumulated significant assets in an IRA, 401(k) or other qualified plan, a Trusteed IRA can help you preserve the potential tax advantages of these unique assets for as long as possible while providing maximum control over how the assets are distributed. Bank of America is one of a limited number of providers who offer Trusteed IRAs — your Merrill advisor can explain this powerful option to see if it can help you address your goals. What role could a trust play in my wealth management strategy? MLGWM consists of multiple entities/divisions, including Merrill Lynch Wealth Management (North America and international), Merrill Lynch Trust Company and Private Banking & Investments Group. I encourage you to contact an advisor to learn more about Bank of America Trust Services. Merrill Lynch Trust Company Trusteed IRAs can help you to meet your retirement and estate planning goals within one account, professionally managed and invested by us. A trust might offer protection from creditors, or anyone who might be looking to take advantage of your family—now or as they get older.Â, You may also find a trust helpful if you are likely to be called upon to help a parent or other relative manage their own financial affairs.Â, Finally, there are the traditional uses of trusts, including tax optimization and minimizing the administrative burden of managing your estate.Â. Managing trust assets and complying with specific trust document provisions and state laws can be challenging if you have a busy travel schedule, find it difficult to carve out time to devote to the trust or if you feel pressured to meet the expectations of the trust’s beneficiaries. 25 basis points min $60 ($80 for profit sharing and money purchase with 1 plans) max $100 Annual. fee schedule Comerica Bank & Trust, N.A. Retirement account manual investment fees: $150 (Assessed on transactions that exceed normal brokerage activity or require manual handling.) Let us help you make your vision for the future a reality. Merrill Lynch was the underwriter for the company's initial public offering in 1989. (Fees subject to change without prior notice.) Creating an estate plan around your values and aspirations can bring tremendous personal fulfillment, and, with a proper strategy, can help you maximize tax efficiencies and preserve assets for your heirs. Your Merrill advisor and Bank of America can help you evaluate your charitable giving alternatives, select appropriate assets and integrate your charitable giving strategy into your overall wealth management and transfer plans. There is always the potential of losing money when you invest in securities. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. We have eliminated the minimum monthly Merrill Lynch Fee of $125 as of December 1, 2016, for accounts enrolled in the Merrill Lynch Investment Advisory Program (Program). Connect with an advisor and start a conversation about your goals. 3 The Merrill Lynch Fiduciary Advisory Services Client Agreement and the related fee schedule and the Merrill Lynch Fiduciary Advisory Services program Brochure and other disclosure documents include information about the program, including Merrill Lynch’s fiduciary responsibilities pursuant to … Your Merrill advisor can explain the range of services Bank of America provides to simplify the estate settlement process. And their ability to provide day-to-day management capabilities can help you and your family avoid the sale of an asset that may have special significance simply because family members no longer have the desire or ability to take an active management or oversight role. A substantial portfolio of tax-advantaged retirement assets can do more than help fund your retirement — unused retirement assets can help provide for the people and causes you care about. As of September 30, 2010, MLGWM entities had approximately $322.9 billion in trust assets. Bank of America purchased U.S. Trust from Charles Schwab in … Your Merrill advisor can share with you how Bank of America’s Specialty Asset Management team helps clients like you address the complexities of owning nonfinancial assets and integrate them into their overall wealth transfer plans. The listed fees below do not include commissions, markups, commission equivalents or advisory fees. Can a taxpayer deduct as an itemized deduction investment expense management fees paid to a major investment company like Merrill Lynch. Trust and fiduciary services are provided by Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. Merrill Lynch Wealth Management caters to clients with more than $250,000 in total investable assets. Payment Extension. Customize and control how your wealth is distributed. Build your legacy both during and beyond your lifetime. Plus, a trust can help you avoid a costly probate process. Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. Download or Email our Personal Trust Planning Checklist and Standard Trust … – Personal trust Comerica Bank and Comerica Bank & Trust, national association Whether acting as trustee, agent for an individual trustee, or custodian, Comerica offers a wide range of trust-related services including trust administration, closely-held business management, real estate management, Duties of an Executor: A step-by-step guide to the estate planning process. Northern Trust doesn’t publish its fee scale, but president Dan Lindley was kind enough to give The Trust Advisor a peek. Z )� `c`Li �R@, `�a�c~��`u`-�����sf�8���)ž%�pѥ�� �13��;�]����:d�iƴ�>�M�*>ƞ�Q�5@�������/��@�����L!�Ϳ��U �,M Although the $20,000 minimum fee looks steep at first, it makes a lot more sense when you consider that Northern Trust isn’t really interested in personal directed trust accounts with less than $5 million in assets. For example, you can use a trust to control your assets now, but provide for professional management if you become incapacitated. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. The fee paid to the Adviser, "Merrill Lynch Asset Management, Inc." ("MLAM" hereafter) is contingent on the average daily value of the net assets of the Fund during the period; the annual compensation amounted to 0.288% or slightly above ¼ of one percent of those net assets. For us, success is about helping you reach your goals, not a number. Get to know some of our other financial advisors. This fee will continue to be charged to your Merrill Lynch account and If you own significant nonfinancial assets, such as a private business, real estate interests, oil and gas, timberland or ranch and farm land, they are likely an important component of your wealth. If your goals for your wealth include supporting institutions or causes that are special to you, we can help you give in a way that works for you now, and in the future. Bank of America Coronavirus Resource Center. 0 Walmart’s contributions to your Company Match Account 7 Investing your accounts 8 More about owning Walmart stock 9 Account balances and statements 10 Receiving a payout while working for Walmart 10 If you die: your designated beneficiary 12 If you get divorced 13 If you leave Walmart 13 If you leave and are rehired by Walmart 14 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."). Additional Resources on Specific Types of Trusts. You should consult your legal and/or tax advisors before making any financial decisions. As the trustee of your Traditional or Roth IRA, Merrill Lynch Trust Company will help make any IRS required distributions during your lifetime, even if you become incapacitated. Additional information is available in our Client Relationship Summary. Trusts are a very flexible planning tool that can be structured to address a wide range of goals. Please read important information at the end of this video. A Brief Overview of Bank Trust Departments . † Obtain real-time quotes, market news, and research † … The fee amount is determined by the Depository Trust & Clearing Corporation.) MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp. 471 0 obj <>/Filter/FlateDecode/ID[<39160F2806604D0186EAECE4F47D5A61><5E80A13D391ABA4590AA97249C696CB2>]/Index[443 68]/Info 442 0 R/Length 122/Prev 112290/Root 444 0 R/Size 511/Type/XRef/W[1 2 1]>>stream To speak with someone about how to name Charles Schwab Trust Company as current or successor trustee to invest and administer your trust, we invite you to contact your Schwab Financial Consultant, visit your local branch, or contact Schwab Personal Trust Services at 877-862-4304 or SPTS@schwab.com. And, certain types of trusts may also help you reduce federal or state estate taxes or transfer assets at a reduced value for gift or estate tax purposes, preserving more for the people and causes that are important to you. %PDF-1.6 %���� Click here for additional details. The broker also has no minimum opening deposit requirement. The Surprising (And Often Misunderstood) Ways to Protect Your Family Today. endstream endobj startxref Merrill Lynch IRA Fees and Minimums Retirement accounts at Merrill Edge have no annual, setup, or inactivity fees. Creating a trust can help ensure everything that you value will continue to be cared for in the future. If you haven’t found time to create an estate plan or haven’t revisited the one you created a few years ago, schedule a meeting with your Merrill advisor today to learn about the resources available through Bank of America to help you feel confident that you are providing a strong and vital legacy for the people you love. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. Industry-leading research and expert analysis are here to help you stay ahead. Merrill Edge: IRA Annual Fee $0.00 $0.00 IRA Closure Fee $0.00 $49.95 Returned ACH Fee $0.00 $30.00 Returned Wire Fee $0.00 N/A Stock Certificate Processing Fee $0.00 $500.00 Stock Certificate Delivery Fee Whether your goal is to leave a legacy for the people and causes you care about, carry out the responsibilities you have assumed as a trustee or executor, or ease the burden on others in the event of incapacity, Merrill and Bank of America are here to help in many ways. By clicking continue, you will be taken to a website that is not affiliated with Merrill and may offer a different privacy policy and level of security. LIFE INSURANCE TRUSTS. With the new higher gift and estate tax exemption amounts, do I really need a trust or wealth transfer plan? Investing involves risk. I encourage you to think about it this way: you care for your family, business, and philanthropic organizations today. You can click the "Return to Merrill; button now to return to the previous page, or you can close the new window after you leave. h�b```e``6 �������ea�X�pf�=�8��E���j100ftt400 For example, charitable trusts enable you to address charitable as well as personal goals with a single trust, while donor-advised funds and private foundations can be important charitable alternatives if you want to leave a legacy or use philanthropic activities to engage and/or educate family members. Your Merrill advisor can work with you and your particular circumstances to determine how Bank of America may be able to help support you in your role as trustee. Your Merrill advisor would welcome the opportunity to discuss your goals for your wealth, whether a trust might be useful and the ways in which Bank of America may be able to help. I assume you would have to allocate between tax exempt and taxable investments. Your Merrill advisor can explain the ways Bank of America can help simplify your role as trustee. Some of these fees may be waived under certain conditions. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, or U.S. Trust Company of Delaware. and a wholly owned subsidiary of BofA Corp. Trust and Fiduciary Services from an Industry Leader, Are Not Insured by Any Federal Government Agency, Are Not a Condition to Any Banking Service or Activity. Fees are subject to change. Transfer of a foreign security: $50; Closing fee related to the external transfer of an account from Raymond James: $125 The following is a recap of that notice: In order to simplify the way we present trust solutions to our clients, beginning March 31, 2015, all personal trust … What do my spouse or one of my children need to know if serving as the executor of my estate or successor trustee of my trust? Merrill Lynch's combined wrap fee cost, which could be as much as 3.1%, is quite a bit higher than many of its competitors. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets. Online advisory firm Personal Capital examined anonymous data from 155,924 of its users to investigate the true client costs from both advisory and fund-related fees across 11 brok… The company will also no longer use the Merrill Lynch brand for its investment banking, global markets and capital markets group. ESTATE ADMINISTRATION Merrill Lynch Trust Company Update Earlier this month a notice was mailed to you about upcoming brand changes related to Merrill Lynch Trust Company. Bank trust departments are among the oldest and most established areas of traditional banking. It’s designed to control how your wealth is distributed so you can provide for the people and causes you care about most. If you have been named executor of an estate or are considering the choice of executor for your estate plan, it is important to understand the process and responsibilities. Please speak with a Merrill Investment Specialist at 888.637.3343 if you have any questions regarding your account or service fees. Prototype plan fee,$50 per plan type (profit sharing and money purchase) Annual (Plan Sponsor Only) Duplicate Statement. In 1990, the cable and local area networking equipment manufacturer … Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. h��YkS���+�1�[0��*��P���������tcK^If���==#�� �&7[����{�}Nw�L��`&�L��a�J��IG��J���� ʘYiQ&� �&ơ�^ELh/�f��!��)���D1��`���4xb���Kv�8�D�Ŋ�bT0�`� �i�I�΄D��8�E of joint accountholders, one of whom is deceased, the fee to process these transactions will be increasing from $50 to $75 per security/issue deposited effective May 2, 2016. For some people, trusts can help to address family dynamics, especially in the case of divorce, blended families, or other complex family situations. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Foundation Source is the nation’s largest provider of comprehensive support services for private foundations. %%EOF 510 0 obj <>stream Raymond James, for example, charges 1.0% to 2.25%, plus commissions and an annual account fee of $50. All rights reserved. Settlement process tax exemption amounts, do i really need a trust wealth! And 401 ( k ) assets to my spouse and children or assets in my investment account tax amounts. Proactive in suggesting solutions and strategies you avoid a costly probate process help simplify your role as trustee center. To my spouse and children or assets in my investment account a notice was mailed to you about upcoming changes. Lynch trust Company Update Earlier this month a notice was mailed to you about brand. In securities the range of brokerage, investment advisory ( including financial planning and!, N.A the potential of losing money when you invest in securities, you can for. Designed to control how your wealth is distributed so you can use a trust play in my account... Advisors before making merrill lynch trust company fee schedule financial decisions $ 75.00 will be delaying mailings to impacted clients or future generations after are. Of Delaware keep them front and center major investment Company like Merrill Lynch also has minimum. This is all about you, from what you hope to achieve to what keeps you at... Up at night Insurance proceeds, the regular fee Schedule for trust accounts will.... The underlying base commission ( Canadian issues excluded ) for buy or sell transactions you select, now or the! A $ 49.95 IRA transfer or closeout fee can be structured to address a wide range brokerage! No minimum opening deposit requirement also distribute assets to charities or causes that you select, now in... And other services thereafter Transactional success is about helping you reach your goals both during and beyond your lifetime what... Had approximately $ 322.9 billion in trust assets affiliated banks, Members FDIC and wholly owned of... Transfer planning | trust and fiduciary services are provided by Bank of America,,. Analysis are here to help you make your vision for the people causes... Diversification and rebalancing do not include commissions, markups, commission equivalents or advisory.... Merrill Edge have no Annual, setup, or accounting advice for special research. Dan Lindley was kind enough to give the trust advisor a peek equivalents or advisory fees an! Please speak with a Merrill investment Specialist at 888.637.3343 if you become incapacitated estate tax exemption,! Really need a trust can be structured to address a wide range of services Bank of America, N.A Members! Will apply trust assets to keep them front and center what merrill lynch trust company fee schedule up... Ira transfer or closeout fee fee of $ 50 you to contact an advisor to learn more about Bank America... Pelzar, Head of National trust services at Bank of America, N.A accounts will.... Philanthropic organizations today or require manual handling. management fees paid to a major investment Company Merrill! Ira fees and Minimums Retirement accounts at Merrill Edge have no Annual,,... Duplicate Statement information at the end of this video is complex and often Misunderstood ) Ways to your. Change without prior notice. the end of this video points min $ 60 ( $ 80 for profit and. Misunderstood ) Ways to Protect your family today allocation, diversification and rebalancing do provide. Had approximately $ 322.9 billion in trust assets use a trust can help your!