ADP vs Merrill 401(k) Comparison
Compare ADP Retirement Services (#7, 8.1/10) and Merrill Lynch (#8, 8.0/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | ADP | Merrill |
|---|---|---|
| Overall Score | 8.1/10 | 8.0/10 |
| Rank | #7 | #8 |
| AUM | $130 billion | $3.0 trillion |
| Participants | 3 million | 5 million |
| Plan Sponsors | 90,000+ | 2,500+ |
| Founded | 1949 | 1914 |
Ratings Comparison
| Category | ADP | Merrill |
|---|---|---|
| Fees & Costs | 3.4/5 | 3.3/5 |
| Investment Options | 3.5/5 | 4.5/5 |
| Customer Service | 4.0/5 | 4.1/5 |
| Mobile App | 3.7/5 | 4.2/5 |
Fee Comparison
| Fee Type | ADP | Merrill |
|---|---|---|
| Admin Fees | $2,000 - $5,000/year base | Varies by plan size |
| Expense Ratios | Varies by investment partner | 0.03% - 1.5% |
| Trading Fees | Plan dependent | $0 - $6.95 |
| Advisory Fees | 0.35% - 0.75% | 0.45% - 1.5% |
ADP Strengths
- Seamless payroll integration
- Automatic contribution processing
- Strong compliance support
- Easy setup for ADP payroll clients
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- Comprehensive financial planning
- Wide investment selection
Which Should You Choose?
Choose ADP if you want:
- ADP payroll users
- Multi-state employers
- HR bundle seekers
- Compliance-focused companies
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Our Verdict: ADP vs Merrill
ADP Retirement Services wins this comparison with a score of 8.1/10 vs 8.0/10. ADP excels with seamless payroll integration, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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ADP vs Merrill: Complete 401(k) Comparison for 2026
Choosing between ADP Retirement Services and Merrill Lynch for your 401(k) is an important decision that affects your retirement savings. ADP offers payroll integration while Merrill is known for bofa integration. In terms of fees, ADP charges Varies by investment partner expense ratios compared to Merrill's 0.03% - 1.5%. ADP manages $130 billion in assets and serves 3 million participants, while Merrill has $3.0 trillion AUM and 5 million participants.
Key Differences: ADP vs Merrill
When comparing ADP and Merrill, consider their core strengths: ADP excels with seamless payroll integration, while Merrill stands out for bank of america preferred rewards benefits. Both providers offer comprehensive investment options including target-date funds, index funds, and managed accounts. ADP's customer service rating is 4.0/5 compared to Merrill's 4.1/5. For mobile experience, ADP scores 3.7/5 while Merrill scores 4.2/5.
Which Provider is Right for You?
Choose ADP if you prioritize adp payroll users. Choose Merrill if you're looking for bofa customers. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual ADP and Merrill provider pages.