So, I've used the same financial advisor for roughly the last 18 months, he's a friend of a friend & WAS with UBS. Prior to that I was with Raymond James.....they paid no attention to me or my account, and that's why I left.

Current advisor called me today to say he has moved to Merril Lynch & is partnering with a guy that's been doing it for 35 years.

Obviously he wants me to transfer my stuff over, however, since I'm small time, they recommend any portfolios that are less than $250k, use the Merril Edge plan.

He says it will be good for me as I don't make many trades, have the same major portfolio since I started, letting it gradually grow & the Edge doesn't have a yearly % fee.

Basically he still advises me, but when it comes time to buy or sell something, I do it myself & simply pay a one time fee, less that $10.

I'm not the most savvy when it comes to investing, mainly because I'm constantly in the car & don't have time to monitor everything, so I'd rather leave it to a "pro".

Opinions on this move? I have no problem finding a traditional set up else where, but if it's a legit scenario then I will gladly make the move. I have stocks, mutual funds & my IRA.

Thanks for the guidance.

Stay away from Merrill. I just moved from there to Schwab and it is a weight off my shoulders.

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Stay away from Merrill. I just moved from there to Schwab and it is a weight off my shoulders.

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Can you expand on why?

So, he can't complete the trades / transfers on your behalf anymore? That sucks. Ask him if his fees are less than they were at UBS to make up for the extra work you'll be doing.

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So, he can't complete the trades / transfers on your behalf anymore? That sucks. Ask him if his fees are less than they were at UBS to make up for the extra work you'll be doing.

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There are no fees charged by him, at UBS it was 1.5% annually, this is a 1 time fee (less than $10) when each trade is made, which so far hasn't been many trades.

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Stay away from Merrill. I just moved from there to Schwab and it is a weight off my shoulders.

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Little vague, any reason why?

Disclaimer: Outside of my own sector I would not consider myself to be a savvy investor. I did not actively manage the account.

1. Fees soaked up most of the profits.
2. Investments that they put me in generated a ton of paper work relative to the returns.
4. Terrible Customer Service
3. Final straw for me was when I did not receive my tax statement until May of this year.

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There are no fees charged by him, at UBS it was 1.5% annually, this is a 1 time fee (less than $10) when each trade is made, which so far hasn't been many trades.

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You were in a managed portfolio at UBS, I take it? What do you (or perhaps what will you) invest in now that you've moved over to Merrill?

If it is for stocks, I find it to be a great deal. 30 commission free trades per month. There have been a couple odd ball things they don't have but other than that, it has been fine for me so far. Not managed by them at all though.

I use merril edge. I like it a lot. We bank with BofA so merril is very convenient.

I also have a fidelity account, but 95% of my $$ is in merril. I get 30 free trades a month (many many more than I use) and research and trades are easy.

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There are no fees charged by him, at UBS it was 1.5% annually, this is a 1 time fee (less than $10) when each trade is made, which so far hasn't been many trades.

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You were in a managed portfolio at UBS, I take it? What do you (or perhaps what will you) invest in now that you've moved over to Merrill?

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I was & still am. My advisor left, and he states that service will stay the same, except that I do my own trades instead of him.

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I use merril edge. I like it a lot. We bank with BofA so merril is very convenient.

I also have a fidelity account, but 95% of my $$ is in merril. I get 30 free trades a month (many many more than I use) and research and trades are easy.

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I'm also with BOA