Updated 2026-03-30
Merrill vs Guideline 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and Guideline (#15, 7.1/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | Guideline |
|---|---|---|
| Overall Score | 8.0/10 | 7.1/10 |
| Rank | #8 | #15 |
| AUM | $3.0 trillion | $9 billion |
| Participants | 5 million | 700,000 |
| Plan Sponsors | 2,500+ | 40,000+ |
| Founded | 1914 | 2016 |
Ratings Comparison
| Category | Merrill | Guideline |
|---|---|---|
| Fees & Costs | 3.3/5 | 4.7/5 |
| Investment Options | 4.5/5 | 3.3/5 |
| Customer Service | 4.1/5 | 3.9/5 |
| Mobile App | 4.2/5 | 4.0/5 |
Fee Comparison
| Fee Type | Merrill | Guideline |
|---|---|---|
| Admin Fees | Varies by plan size | $49/month base + $8/employee |
| Expense Ratios | 0.03% - 1.5% | 0.03% - 0.15% |
| Trading Fees | $0 - $6.95 | $0 |
| Advisory Fees | 0.45% - 1.5% | N/A - self-directed |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
Guideline Strengths
- Extremely competitive pricing for small business
- Automatic compliance testing and filing
- Direct payroll integrations
- Low-cost Vanguard index funds
Rollover, Loans & Withdrawals
| Feature | Merrill | Guideline |
|---|---|---|
| Rollover Platform | Benefits OnLine | Guideline Dashboard |
| Loans Available | Yes | No |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Online via Guideline dashboard |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Rollover to IRA |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose Guideline if you want:
- Small businesses
- Cost-conscious employers
- Hands-off plan sponsors
- Index fund believers
Our Verdict: Merrill vs Guideline
Merrill Lynch wins this comparison with a score of 8.0/10 vs 7.1/10. 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 Guideline: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and Guideline for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while Guideline is known for small business. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to Guideline's 0.03% - 0.15%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while Guideline has $9 billion AUM and 700,000 participants.
Key Differences: Merrill vs Guideline
When comparing Merrill and Guideline, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while Guideline stands out for extremely competitive pricing for small business. 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 Guideline's 3.9/5. For mobile experience, Merrill scores 4.2/5 while Guideline scores 4.0/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose Guideline if you're looking for small businesses. 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 Guideline provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while Guideline is best for small businesses. 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. Guideline charges 0.03% - 0.15% expense ratios with admin fees of $49/month base + $8/employee. Merrill's fees rating is 3.3/5 compared to Guideline's 4.7/5.
Yes, you can roll over between Merrill and Guideline. Merrill uses Benefits OnLine for rollovers, while Guideline uses Guideline Dashboard. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. Guideline does not offer 401(k) loans.
Merrill scores 4.5/5 for investment options, while Guideline scores 3.3/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. Guideline offers Vanguard Index Funds, Target Date Funds, Bond Funds.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. Guideline is best for small businesses, cost-conscious employers, hands-off plan sponsors, index fund believers. Compare admin fees: Merrill charges Varies by plan size vs Guideline's $49/month base + $8/employee.
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: 2026-03-30