Anonymous
map-marker Minneapolis, Minnesota

Rollover

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Was expecting roller check to be to me in a few day and from what i was the bank should receive it within 7 to 10 busines days!!! What? Depending on where its coming from it sure does mot take that many days for anything you mail. Maybe 3 to 4 days. So who's desk is it sitting on for several days? What business do you have for making it take so long? You get info from person who is rolling over the 401k and check should get made out same day or next day and sent immediately. Your whole process is BS!!
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User's recommendation: Will not recommend to anyone

Mary K Cgt

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Verified Reviewer
| map-marker Boston, Massachusetts

Where is my investment?

I lost everything I invested with Merrill Lynch
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Cons:
  • Lost all my investments

Preferred solution: Full refund

User's recommendation: Check this company's history before making any investments

Anonymous
map-marker Clinton Township, Michigan

Poor Poor service

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I have talked to 10 different people at Merrill lynch none of them are on the same page, the people that work there don't know what they are doing and don't give a Damn at all
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1 comment
Guest

Merrill is completely useless

Els W

Poor customer service experience today

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Mr. Rohan Patel from Merrill Lynch did not listen to me, more than once.

When he spoke, he spoke so fast that I could not understand half of what he said. I asked whether he was in a great hurry. He did not understand why I asked this. Then, I explained that he was talking much too fast and I could not follow (I had to take notes).

I asked him to repeat, and please do so much more slowly this time. He did, but his tone throughout the call was inappropriate. He never apologized for his rudeness.

I am a professional with over 30 years of experience and I don't appreciate being treated in this manner.

If your job involves working with people, you really need to be patient and kind.

It may help to remind yourself of the fact that you have this job because of the customers. No customers = no paycheck.

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Preferred solution: Let the company propose a solution

User's recommendation: Leave detailed, factual and truthful feedback.

Anonymous
map-marker Chicago, Illinois

401k take money from my account

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I was trying get money out to help with my sister burial. But the paperwork I was saying that I couldn't help my sister he gave up Pacifica choice in who and what you can do so it wasn't a help for me. I just can't understand why I can't get any money from my own account is my money and I know what you are saying Walmart won't let us. I feel like we go through too many channels to get money about time I get the money from you all everything is already done so I just say forget it.
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User's recommendation: Well I do have other account with you guys so yes.

kit j Xdi

Stay far away, particularly seniors

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I had a lot of cash in an ira that I wanted to transfer to a different brokerage. I sent the form they requested. It was denied, they claimed it was the wrong form. They overnighted a different form, I sent it back, waited, no response. Called, and that was the wrong form. Not to worry, the correct form was online. As the rep was disconnecting, I said not so fast, let me read through it. Even I could tell it wasn't the right form. After a few rounds of is not, is too, I told her to go double check. After a few minute s, she was back, and it was the wrong form. She said her supervisor was looking at my file, and didn't understand why the first one didn't work. She said they would try to 'push it through'. I said if my money hadn't been transferred by the end of the week I'd file a complaint with the SCC and whoever else regulates brokerages. Her attitude quickly changed, and she said she would call me in an hour with an update. The update was that the first form was fine and my money would transfer this week. They've now scammed me out of almost 2 months of interest on a very large sum of money. Older seniors would never be able to work through all of their bull.
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Loss:
$250
Cons:
  • Give wont give you your own money
Reason of review:
Poor customer service

Preferred solution: Interest in my money

Grace C Ewb
map-marker Los Angeles, California

Stay away from Marriott Lynch

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Its been 2 months since I closed my retirement account, they collected their commission but I still have not received my money. More than a dozen calls, visit to the local Merrill Lynch branch and every time and still nothing. Every specialist is totally incompetent, not trained to know how to close the account but definitely getting money for their service. Stay away from them. Idiots who cant perform a single task.
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Pros:
  • Incompetent
Cons:
  • Poor service
Reason of review:
Order processing issue

Preferred solution: Full refund

Anonymous
map-marker Manhattan, New York

Proceed with EXTREME CAUTION, and only with a reliable personal experience referral!

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Management has negligible management skills. Many financial advisors have: no desire to communicate with clients, poor investment skills, no desire to improve any skills.
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Pros:
  • There are a very small number of good financial advisors
Cons:
  • Poor communication
  • Management
  • There are a large number of people missing key skills
Reason of review:
Poor customer service

Preferred solution: Develop company wide management training, and periodic management skills evaluation/retraining programs.

1 comment
Guest

One of the worst companies I ever had the displeasure of dealing with. Totally avoid.

Holley T Rbu

Terrible

I couldnt even access or get someone to help me access my account. She needed an old account number and when I went to get it she said she had to end the call. Her name was Reana!!! I was like what why? Like Im being fraudulent when I answered my social security number my birthday when I left the company. Terrible service!
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Pros:
  • Incompetent
Cons:
  • Horrible customer service
Reason of review:
Poor customer service
Anonymous

Worst Company In The Industry, Do Not Do Business With Them

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Contacted them to potentially bring in some big funds and they jerked me around with incompetence and indecision so I ditched them. Was contacted by a management rep who was better but of no further help. They make bad decisions that do not seem to be driven by policy and procedures but by personal preferences as to what will make themselves the most money and not you. Also found them to be lax in being transparent and disclosing important information, including a rep refusing to provide a last name when requested. Do not trust anyone or anything you are told by any company representative! Avoid this company at all costs, and tell everyone you care about to do the same. In researching this company look at the very low score and horrible reviews so many have given. That in itself should tell you to avoid Merrill Lynch, a company full of bull.
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Pros:
  • Recognized name
Cons:
  • Arrogant rude unprofessional and greedy
  • Bad money practices
  • Poor judgment
Reason of review:
Bad quality
1 comment
Guest

They are incompetent, dumb, and careless. They should not be in business and don't give them any.

Skyler Eea
map-marker Michigan City, Indiana

Only the best customer service ever!

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I lost my phone connectioon Only.
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Reason of review:
Good customer service
Anonymous

Get your money out of their hands

Called 10-24-19 to withdraw funds. As of today 12-9-19 have not received a check. Screwed up system at Merrill Edge.
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Cons:
  • Poor service
Reason of review:
Poor customer service
Anonymous
map-marker San Diego, California

Absolutely Terrible

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Merrill Lynch sucks, first of all they rip you off by taking a more-than-necessary amount of money when you want to buy shares. Secondly, they take FOREVER to get your order in to actually BUY the shares. I had placed an order and by the time stupid Merrill-Lynch had actually obtained them for me, the stock had risen 5%, and I lost out. This isn't even the worst part, they then proceeded to say I owed them money for that increase when they bought it and now I have the inconvenience of writing them a stupid check and mailing it. Very upset and will never ever ever use Merrill-Lynch's terrible services again. I strongly recommend you don't either; total scam business.
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Cons:
  • Scam
Reason of review:
Order processing issue
Erika J Yqp

401K Accounts can open and close without your knowledge - Losing money you've earned to fees and taxes

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I had moved all my funds out of my 401K into a different account, received a email (my preference for delivery) confirming the termination. Six months later a late company match was contributed and reopened the account on its own - Only to be terminated AGAIN 6 months later. Supposedly ML sent a "force out letter" but I had already relocated. They just reissue a check with fees and taxes attached. There is no way to prevent this from happening, you just must be aware and hope that you haven't changed too far from a terminated account's contact information. Per ML's supervisor, they do not give out any kind of phone calls. Only mail or email and even that is not guaranteed as they cannot verify what was sent.
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Loss:
$609
Cons:
  • Horrible customer service
  • Poor communication
  • Dishonest employees and poor account management
Reason of review:
Problem with delivery

Preferred solution: Money rolled over as it should have been

Anonymous
map-marker Goleta, California

Absolutely Terrible

Merrill Lynch sucks, first of all they rip you off by taking a more-than-necessary amount of money when you want to buy shares. Secondly, they take FOREVER to get your order in to actually BUY the shares. I had placed an order and by the time stupid Merrill-Lynch had actually obtained them for me, the stock had risen 5%, and I lost out. This isn't even the worst part, they then proceeded to say I owed them money for that increase when they bought it and now I have the inconvenience of writing them a stupid check and mailing it. Very upset and will never ever ever use Merrill-Lynch's terrible services again. I strongly recommend you don't either. This big company sucks DONT USE THEIR STUPID SCAM SERVICES.
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2 comments
Guest

I was unimpressed with their business practices and intellect of the reps with whom I spoke.

Guest
reply icon Replying to comment of Guest-1789201

They are perhaps the dumbest of all companies I have dealt with and that says a lot.

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