Updated 2026-03-20
Merrill vs Ascensus 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and Ascensus (#18, 6.8/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | Ascensus |
|---|---|---|
| Overall Score | 8.0/10 | 6.8/10 |
| Rank | #8 | #18 |
| AUM | $3.0 trillion | $800 billion |
| Participants | 5 million | 12 million |
| Plan Sponsors | 2,500+ | 100,000+ |
| Founded | 1914 | 1975 |
Ratings Comparison
| Category | Merrill | Ascensus |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.5/5 |
| Investment Options | 4.5/5 | 4.0/5 |
| Customer Service | 4.1/5 | 3.7/5 |
| Mobile App | 4.2/5 | 3.3/5 |
Fee Comparison
| Fee Type | Merrill | Ascensus |
|---|---|---|
| Admin Fees | Varies by plan size | Varies by advisor and plan |
| Expense Ratios | 0.03% - 1.5% | 0.03% - 1.5% |
| Trading Fees | $0 - $6.95 | Plan dependent |
| Advisory Fees | 0.45% - 1.5% | Set by financial advisor |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
Ascensus Strengths
- Largest independent recordkeeper in the US
- Works through financial advisor network
- Supports 401(k), IRA, 529, and HSA plans
- Strong compliance and administration
Rollover, Loans & Withdrawals
| Feature | Merrill | Ascensus |
|---|---|---|
| Rollover Platform | Benefits OnLine | Ascensus Portal |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Through financial advisor, Phone (800-345-6363), Plan administrator portal |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA, Required Minimum Distributions |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose Ascensus if you want:
- Financial advisor clients
- Businesses wanting advisor-guided plans
- Multi-plan employers
- Open architecture seekers
Our Verdict: Merrill vs Ascensus
Merrill Lynch wins this comparison with a score of 8.0/10 vs 6.8/10. Merrill excels with bank of america preferred rewards benefits, 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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Merrill vs Ascensus: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and Ascensus for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while Ascensus is known for largest independent. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to Ascensus's 0.03% - 1.5%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while Ascensus has $800 billion AUM and 12 million participants.
Key Differences: Merrill vs Ascensus
When comparing Merrill and Ascensus, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while Ascensus stands out for largest independent recordkeeper in the us. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Merrill's customer service rating is 4.1/5 compared to Ascensus's 3.7/5. For mobile experience, Merrill scores 4.2/5 while Ascensus scores 3.3/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose Ascensus if you're looking for financial advisor clients. 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 Merrill and Ascensus provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while Ascensus is best for financial advisor clients. The right choice depends on your employer's plan and your priorities.
Merrill charges expense ratios of 0.03% - 1.5% with admin fees of Varies by plan size. Ascensus charges 0.03% - 1.5% expense ratios with admin fees of Varies by advisor and plan. Merrill's fees rating is 3.3/5 compared to Ascensus's 3.5/5.
Yes, you can roll over between Merrill and Ascensus. Merrill uses Benefits OnLine for rollovers, while Ascensus uses Ascensus Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. Ascensus offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Merrill scores 4.5/5 for investment options, while Ascensus scores 4.0/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. Ascensus offers Open Architecture, Mutual Funds, Target Date Funds.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. Ascensus is best for financial advisor clients, businesses wanting advisor-guided plans, multi-plan employers, open architecture seekers. Compare admin fees: Merrill charges Varies by plan size vs Ascensus's Varies by advisor and plan.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-20