<< /Lang /Contents [22 0 R 23 0 R 24 0 R 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R] /Pa21 << When considering a margin loan, you should take into account your individual requirements, portfolio composition and risk tolerance, as well as capital gains taxes, portfolio performance expectations and investment time horizon. endobj The LMA account requires a brokerage account at Merrill Lynch, Pierce, Fenner & Smith Incorporated and sufficient eligible collateral to support a minimum credit facility size of $100,000. Margin interest rates are determined by a few factors, including the base lending rate (which resets weekly), your debit balance and your overall relationship with Bank of America and Merrill . 133 0 R] /StructParent 10 << null 152 0 R 153 0 R null 154 0 R null 155 0 R null 156 0 R 157 0 R 0000007676 00000 n 17 0 obj For Individual Investor Accounts, these terms are contained in the Margin Lending Program Client Agreement. 33 0 obj We also are planning to retire around 50-55year old. MLPF&S is a registered broker-dealer,registered investment adviser,Member SIPCand 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. /LineHeight 10.0 1 Merrill does not provide tax advice. /H /I 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. /Type /Annot >> << << /O /Layout >> /TextBox /Art Bank of Americas suite of banking products and services. /Chart /Figure /T1_1 56 0 R Solutions tohelp you pursue a variety of savings goals. >> 0000004295 00000 n /S /TH We offer customized lending and credit strategies tailored to your needs, whether you're looking for greater liquidity, funding for an investment opportunity or a lifestyle purchase, support for your estate planning objectives or help meeting other goals. are . /Order [[ 6 0 R] Interest expenses associated with your Margin borrowing may be tax-deductible, up to net investment income earned in the account. 0000032447 00000 n WCMA. Danger, Will Robinson. /A 284 0 R Answer some questions and we'll suggest a couple of advisors best suited to your needs. << HWYoF~B(."!uV#KYR',rwfl[Mwpr2:| >?1tF < /Pa0 << /H /I null 93 0 R null null 94 0 R null null 95 0 R 96 0 R null /C /Pa3 /Type /Catalog /O /Layout 1 You have choices about what to do with your 401 (k) or other type of plan-sponsored accounts. endobj Your failure to satisfy the call may cause us to liquidate or sell securities in your account(s). finder.com's rating: 2.8 / 5.0. << Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, . This material does not take into account a clients particular investment objectives, financial situations, or needs and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any security or investment strategy. 92 0 R 93 0 R 94 0 R 95 0 R 96 0 R 97 0 R 98 0 R 99 0 R 100 0 R 101 0 R /LineHeight 0.0 /Outline /Span << . 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.). 0000067546 00000 n endobj >> /A10 << /BaseFont /ZapfDingbats >> High options fees as well as margin interest. Equal Opportunity Lender. All accrued finance charges on the Term Advance will be due and payable upon the earlier of (a)demand, or (b) monthly . You should consult your legal and/or tax advisors before making any financial decisions. 250 0 R 251 0 R 169 0 R 170 0 R 171 0 R 172 0 R 252 0 R 253 0 R 254 0 R 255 0 R endeavors to anticipate . Debit Balance. Talk to your Merrill financial advisor about whether an LMA accountmight be appropriate for you. t%\)p.OxKwLr}(cdFNDH1:X}x|BY-46CrYJv8b)T#,?a. %%EOF /Type /OCG Bank of America, N.A.("the Bank") can force the sale or other liquidation of any securities or other investment property in the collateral account and, unless otherwise required by law, can do so without first contacting you. /Metadata 2 0 R Strategic borrowing and thoughtful use of credit can help you increase the power of your wealth to pursue your goals. /SpaceAfter 3.0 CD purchased through Merrill are known as "brokered CDs." A Merrill brokerage account is required for a brokered CD. 9 0 obj /P 4 0 R << % Publication of the 1-month and 6-month synthetic GBP LIBOR settings will cease after March 31, 2023, while publication of 3-month synthetic GBP LIBOR setting will cease after March 31, 2024. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. /Contents [43 0 R 44 0 R 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R] /First 22 0 R These risks include the following: Carefully choosing the quality of your investments you borrow against and the amount you borrow can help reduce the likelihood of a maintenance call. endobj endobj /LineHeight 10.0 The Bank may demand full or partial repayment at any time and any commitment may be immediately terminated. 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. /Type /Border Our approach. MAP4912528-01132024. << /O /Layout Copyright 2009-2023 ACM MEDIA LLC. /T1_2 57 0 R /ON [6 0 R 7 0 R 8 0 R 9 0 R] Enter your Merrill Edge Self-Directed account number: - Page 2 | Merrill Edge Self-Directed Investing Margin Account Application Code 00-66-0227B 108/108A-1222 Definitions: Household: Households may include spouse, domestic partner and others who share financial responsibility Annual Income: Gross annual 1Preferred Rewards Program Eligibility. Beginning April 1, 2015, EMA accounts will no longer be valued together with . /P 298 0 R Interest rates and yields Yield information on money market mutual funds and any deposits held at the Merrill Lynch Affiliated Banks is included on your Merrill Lynch account statement. /Type /Annot /Type /Catalog J.P. Morgan Chase offers the industry's highest rate of null 97 0 R null 98 0 R 99 0 R 100 0 R 101 0 R null 102 0 R null U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation. information about the scope and terms of the brokerage services that Merrill Lynch, >> >> /Kids [23 0 R 24 0 R] Is the LMA a fixed interest rate or variable? /K 220 0 R /S /GoTo << You can satisfy the combined balance requirement for enrollment with either: i.a three-month combined average daily balance in your qualifying deposit and investment accounts or ii.a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account. The Loan Management Account (LMA account) is a demand line of credit provided by Bank of America, N.A., Member FDIC. 40 0 obj /Name (Layer 1) 93 [157 0 R 158 0 R 159 0 R 160 0 R 161 0 R 162 0 R 163 0 R 190 0 R 191 0 R 192 0 R >> EMA account(s) determines the interest rate you receive on deposits in the Merrill Lynch Bank Deposit Program. endobj We may be compensated by the businesses we review. any investment. >> /StructParent 6 Also note that it may be more advantageous to pay cash than to use margin for smaller securities purchases. /O /Layout >> /StructTreeRoot 4 0 R /Type /Outlines 193 0 R 194 0 R 195 0 R 196 0 R 197 0 R 198 0 R 199 0 R] /Pa6 << /Strikeout /Span Accounts with more than a million dollars in idle cash earn 0.30%, which is still very low. xref 0000033921 00000 n Investment, insurance and annuity products: Then we can provide you with relevant answers. /LineHeight 14.0 Answer some questions and we'll suggest a couple of advisors best suited to your needs. Bachelor's Degree. /S /TH Loan Management Account (LMA account). /A 174 0 R The highest rate is 1.06% with a $10 million cash balance (not $10 million in account value). 2 0 obj Investing involves risk. /MarkInfo << 0000021608 00000 n 14 0 obj Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. endobj MLPF&S is a registered broker-dealer,registered investment adviser,Member SIPCand a wholly owned subsidiary of BofA Corp. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. endobj =Exx'~` 240 0 R 241 0 R 242 0 R 243 0 R 244 0 R 245 0 R 246 0 R 247 0 R 248 0 R 249 0 R Some investors mistakenly believe that they must be contacted for a margin call to be valid, and that securities or other assets in their accounts cannot be liquidated to meet the call unless they are contacted first. /Name (US Consumer Privacy Notice) /O /Layout /A 182 0 R /P 294 0 R endobj >> /ID (1z5iCHn8_Ei1o4N-F68ucQ) 43 0 obj << << 179 0 R 180 0 R 181 0 R 182 0 R 183 0 R 184 0 R 185 0 R 186 0 R 187 0 R 188 0 R] Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. /MC0 6 0 R >> 0000004141 00000 n Past performance does not guarantee future results. endobj Merrill CD choices. 82 0 R 83 0 R 84 0 R 85 0 R 86 0 R 87 0 R 87 0 R 189 0 R 88 0 R 89 0 R /LastModified (D:20210921111132+02'00') /ClassMap 25 0 R For fixed-rate advances and term loans, principal payments made in advance of the end of the applicable fixed-rate period, whether voluntarily or involuntarily, (due to demand or liquidation by the Bank,) may be subject to a substantial breakage fee as determined by the Bank. 20 0 obj >> John of Aberdeen, OH Verified Reviewer. /ID (T6ilJfqchU-HY-3u-uxNsQ) We are planning to move to Seattle from Atlanta in the next 3ish months. The account minimum is zero (0$) The negative of Merrill Lynch account. 22 0 obj stream in any brokerage account with Merrill Lynch. endobj >> 31 0 obj /MediaBox [0.0 0.0 612.0 792.0] /T1_0 55 0 R 162 0 R 163 0 R 164 0 R 165 0 R 166 0 R 167 0 R 168 0 R 169 0 R 170 0 R 171 0 R >> $100,000 - $249,999. /TrimBox [0.0 0.0 603.0 774.0] /A 283 0 R >> endobj /Pa22 << Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. /Subtype /Link /P 285 0 R >> /RoleMap 10 0 R Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. endobj 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. . >> 44 years old, married two kids 10 and 6years old. /Properties << about 630 shares of BAC (bank of america) stock that i was granted in 2007, finally vested in 2011. >> /Adieresis /Aring /AE /Ccedilla /Egrave /Eacute /Ecircumflex /Edieresis /Igrave /Iacute Online options spreads are limited to two legs. FINRA Sanctions Against the Firm Underline the Dangers of Leverage-Backed Lines of Credit and Margin Risk . Uncovering opportunities. The LMA account requires a brokerage account at Merrill Lynch, Pierce, Fenner & Smith Incorporated and sufficient eligible collateral to support a minimum credit facility size of $100,000. Understand your choices. 7 0 obj endobj 0000013503 00000 n /Subtype /XML endobj The client can lose more funds than deposited in such collateral account. /DocumentID /Rect [56.8499 448.135 121.533 463.901] Bank of America Private Bank is a division of Bank of America, N.A. /H /I /Type /Border 19 0 obj /TextDecorationType /Underline >> /A 177 0 R As Merrill Lynch Wealth Management Advisors, we will sort through the financial complexities of your life, helping you build a customized investment approach to address your needs and pursue your goals. /Pa8 << /Encoding << /Rect [53.2498 207.926 141.2 223.691] We can sell your securities or other assets without contacting you. 111 0 R 112 0 R null 113 0 R 114 0 R 115 0 R null 116 0 R 117 0 R null /ID (zDS1U1Dmok-LPIntoqJb9g) -!X@!IQ \1u^G He is working on a plan but I wanted to get your guys thoughts on what he was suggesting. /O /Layout 15 124 0 R 16 130 0 R 17 134 0 R 18 144 0 R 19 151 0 R /Pa10 << << You also will be responsible for any shortfall in the account after such a sale. /A 176 0 R >> /Rect [53.2498 223.691 141.469 233.457] /StructParent 1 (BANA) that uses securities in eligible Merrill accounts as collateral. /W 0 /S /TH endobj This is extremely low given the current interest rate environment. /Last 22 0 R /Tabs /S Margin interest expenses may also be exempt from the Alternative Minimum Tax (AMT). Merrill does not provide tax advice, so please consult your tax advisor for tax advice about margin interest deductibility. /K 8 0 R /Lang (en) Because the securities or other assets are collateral for the margin loan, we have the right to decide which securities or other assets to sell in order to protect our interests. /Tabs /S /quotesingle 96 /grave 128 /bullet /dagger /daggerdbl /ellipsis /emdash /endash One Bryant Park. /K 247 0 R /Artifact /P Banking products are provided by Bank of America, N.A. Brokerage Account(" "). >> 18 0 obj Talk to your advisor about how these solutions might fit into your financial strategy. /Type /StructTreeRoot As a forward -looking term rate, BSBY. /Annotation /Span /ViewerPreferences << It is important to understand the differences, particularly when determining which service or services to select. x}KF=E {k C7 $|CO`,Vf9* z["iAwss{NGw7~O?~_o0Cvw(:j3\9RP|:|r\c~8]\2OaU.-8l)0Y3.ZW,!3X"k+8]f\D#UK+cb\bjZ,x?}/to~ OS>N All securities are subject to credit approval and Bank of America, N.A. /StartIndent 9.0 Additional information is available in ourClient Relationship Summary. 12 111 0 R 13 111 0 R 14 118 0 R /Type /Page 0000021569 00000 n /ID (5rXzBkHwmUul24RQfGc9CA) /A 178 0 R Depending on your financial circumstances, needs, and goals, you may choose to roll over to an IRA or convert to a Roth IRA, roll over a 401 (k . /StructParents 86 << I am rather simple minded when it comes to finances but reading up on this subject it sounds like it's a Pledged Asset loan.His thoughts make it sound like we can get a LMA for around 2.5% or less, we do not need to pay back on a set schedule, we can keep our money in stock and continue to have it grow/dividend. He stated we could use options to insure our stock value but didnt go into detail on that. << It may also make you eligible to earn higher interest rates by putting you in a higher asset tier. If the stock value goes from 3.3M to 1.7M and we are required to add funds but dont have any to add what does that look like. 2$100,000 minimum opening deposit. 0000006020 00000 n /OC 6 0 R 28 0 obj /ParentTree 27 0 R (c) Overdraft. /Pa9 << An extension of credit based on eligible securities youpledge as collateral from qualified Merrill brokerage accounts. >> /Rotate 0 << /Intent [/View /Design] Many retirement plans allow you to take a loan up to (1) the greater of $10,000 or half of your vested account balance or (2) $50,000 minus any outstanding loan balances* whichever is less. >> << /P 26 0 R 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.). 14 0 obj >> /BS << >> /W 0 Is this the same as a ["Pledged Asset"] (https://www.investopedia.com/terms/p/pledgedasset.asp), if not how does it differ? Bank of America Private Bank is a division of Bank of America, N.A. endobj There is always the potential of losing money when you invest in securities. /Subtype /Artwork >> You should review the LMA Loan Agreement and related documents and disclosures carefully and consult with your own independent tax and legal advisors. /Border [0 0 0] 23 0 obj >> /O /Layout /Fields [] 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. 270 0 R 271 0 R 272 0 R 273 0 R 274 0 R 275 0 R 276 0 R 277 0 R 183 0 R 184 0 R /LineHeight 8.0 << I used cash to make my offer more attractive, but ultimately I wanted to take advantage of low rates, so I got the mortgage (30yr @ 2.5%). /StructParent 2 Posted on December 7, 2016. /BaseFont /Helvetica 0000032985 00000 n Save Money By Splitting Doses of Frontline Plus Flea Medication - Up to 90% Savings! /DisplayDocTitle true /Parent 3 0 R Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (BofA Corp.), and its agents. /Pa18 << /Length 1778 >> Investing involves risk. /P 279 0 R /K 223 0 R 103 0 R 104 0 R 105 0 R 106 0 R] Primary investment is Apple stock valued around 3.3-3.4M. >> /SpaceAfter 4.0 You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 . The client can lose more funds than deposited in such collateral account. This is not a commitment to lend; you must submit additional information for review and approval. /Kids [67 0 R 68 0 R 69 0 R 70 0 R 71 0 R] 151 0 R 152 0 R 153 0 R 154 0 R 155 0 R 156 0 R] 0000003471 00000 n If the equity in your account falls below the maintenance margin requirements or Merrills higher house requirements, we can sell the securities or other assets in any of your accounts held by us to cover the margin deficiency. /H /I /K 239 0 R 0000033367 00000 n 20 157 0 R 21 170 0 R] When considering a securities-based loan, consideration should be given to individual requirements, portfolio composition and risk tolerance, as well as capital gains, portfolio performance expectations and investment time horizon. /Parent 11 0 R THE LOAN MANAGEMENT ACCOUNT . 172 0 R 36 0 R 30 0 R 32 0 R 173 0 R 174 0 R 175 0 R 176 0 R 177 0 R 178 0 R >> /P 282 0 R /K 228 0 R /S /TH /Type /Border The Merrill Cash Management account, previously known as the Merrill Lynch Cash Management, offers more perks and privileges than most other cash management accounts. 800.637.7455. www.ml.com. Savings I Bonds May 2023 Inflation Rate: 0.90% Fixed, 4.30% Total Composite Rates, Bilt Mastercard: Earn Rewards For Paying Rent w/ Any Landlord (May 1st Promo + 1,000 Easy Points), Citi Rewards+ Card Review: 25,000 Bonus Points, 0% Intro APR on Purchases for 15 Months, AllAmerica and Redneck Bank: 4.80% APY Money Market, 5.05% APY Rewards Checking, 5.15% APY CDs, 5.00% APY No-Penalty CDs, 5.05% APY Savings via SaveBetter, The iShares 0-3 Month Treasury Bond ETF (, The PIMCO Enhanced Short Maturity Active Bond ETF (. /S /TH These rates are valid for self-directed retail . /LineHeight 10.0 >> Whether youre defining goals, addressing change or figuring out how to move forward, Merrill and Bank of America offer a wide range of solutions to help you take the next step and stay on track. Securities-based financing involves special risks. /MediaBox [0.0 0.0 612.0 792.0] /P 279 0 R /IDTree 19 0 R /LineHeight 10.0 This Regulation Best Interest Disclosure Statement (Disclosure Statement) provides . << may change its collateral maintenance requirements at any time. Get timely insights on what's happening with the markets & global economy to help you stay on track. << >> /ID (YT4qKTQuOUCThVIS6w-5CQ) 15 0 obj /LineHeight 8.0 If your account has a Visa card and/or checks, you may also create a margin debit if your withdrawals (by Visa card, checks, preauthorized debits, funds transfer service (FTS) or other transfers) exceed the sum of any available free credit balances plus available money account balances (such as bank deposit balances or money market funds). >> /T1_3 58 0 R 92 [141 0 R 142 0 R 143 0 R 144 0 R 145 0 R 146 0 R 147 0 R 148 0 R 149 0 R 150 0 R If you close an account . Lacks future options or cryptocurrency trading. /A 297 0 R /K [72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R This material does not take into account a clients particular investment objectives, financial situations, or needs and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any security or investment strategy. /A 299 0 R Some restrictions on the use of LMA account proceeds may apply under the terms of the loan documents and applicable laws and regulations. 82 0 R null 83 0 R null 84 0 R null 85 0 R null null 86 0 R >> U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation. << endobj 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. << Solutions for what matters most. It is important to understand the differences, particularly when determining which service or services to select. /0 603.0 /Type /Annot The Loan Management Account (LMA account) is a demand line of credit provided by Bank of America, N.A., Member FDIC. /Names 4 0 R 5 0 obj 1146 0 obj <> endobj New York, NY 10036. /TextIndent -9.0 Rest is Roth and 401k invested in Vanguard Index funds. 24 0 obj Get up to $700 when you fund a J.P. Morgan Self-Directed Investing account. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. 15 0 obj I bought the place with cash from the LMA then refinanced into a mortgage with Bank of America. /Title () >> /Type /Annot Clients should contact their Merrill financial advisor for a personalized version. /Usage 20 0 R << A complete description of the loan terms can be found within the LMA account agreement. /Subtype /Link There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. %{JG:I|@-b /RoleMap 28 0 R 146 0 R 147 0 R null 148 0 R 149 0 R null null 150 0 R 151 0 R 150 0 R call 855.332.5920. >> 0000067397 00000 n endobj >> >> For us, success is about helping you reach your goals, not a number. /Resources << << /LineHeight 10.0 /Length 0 /dotlessi /lslash /oe /scaron /zcaron 160 /Euro 164 /currency 166 **See more from Betterment /StartIndent 27.0 Asset allocation, rebalancing and diversification do not guarantee against risk in broadly declining markets. %PDF-1.6 % Past performance does not guarantee future results. 102 0 R 103 0 R 104 0 R 105 0 R 106 0 R 107 0 R 108 0 R 109 0 R 110 0 R 111 0 R /StructParent 4 endobj For example, Betterment's cash management account, Betterment Cash Reserve, has a 4.35% APY**, whereas the average national interest rate on savings products is 0.39% APY. .
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