{ "media_type": "text", "post_content": "Looking to open a Roth IRA.. Merrill Edge or Vanguard? \nMy Roth 401k & employee match will be through Merrill Edge, that’s why that’s the debate.", "post_id": "60f8d22f4f4d920020d3591c", "reply_count": 10, "vote_count": 2, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Looking to open a Roth IRA.. Merrill Edge or Vanguard? My Roth 401k & employee match will be through Merrill Edge, that’s why that’s the debate.

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They are both good options. If you want to primarily invest in Vanguard mutual funds with minimal intervention that would tilt towards vanguard. If you have BOA credit cards/checking account the ML IRA balance counts towards their preferred rewards program. Also, you can see and manage all your BOA/ML accounts including 401k and HSA with a single login if desired. You can still invest in Vanguard ETFs if desired.

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Any advice / recommendations on BOA credit cards?

I believe edge is the self controlled version without management fees? If so and they have the investments you want, just go there if you want everything in one place. I have everything at fidelity for that reason. If it turns out you don’t like it, you can move a Roth to vanguard or anywhere else easily

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I've had / currently have Schwab, TD, Fidelity, and Merrill. Honestly, Merrill is my least favorite out of all of them in terms of UI and overall usability. Yes, it'll do what you need / want, but I've found the other brokerages to have much more robust platforms.

I use schwab for the mega backdoor as it's very convenient every two weeks. It won't let me do fractional trades though for some reason, I haven't investigated if I am doing something wrong though.

That is correct. I assume at some point they will all get where everyone wants them to be, but not yet. Fidelity doesn’t bother me. It literally takes a minute every other Friday to place an order so no auto is not a big deal but would be nice.

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