Updated 2026-03-30
Merrill vs John Hancock 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and John Hancock (#10, 7.7/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | John Hancock |
|---|---|---|
| Overall Score | 8.0/10 | 7.7/10 |
| Rank | #8 | #10 |
| AUM | $3.0 trillion | $600 billion |
| Participants | 5 million | 3 million |
| Plan Sponsors | 2,500+ | 48,000+ |
| Founded | 1914 | 1862 |
Ratings Comparison
| Category | Merrill | John Hancock |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.5/5 |
| Investment Options | 4.5/5 | 3.7/5 |
| Customer Service | 4.1/5 | 4.0/5 |
| Mobile App | 4.2/5 | 3.6/5 |
Fee Comparison
| Fee Type | Merrill | John Hancock |
|---|---|---|
| Admin Fees | Varies by plan size | $1,000 - $4,000/year |
| Expense Ratios | 0.03% - 1.5% | 0.30% - 1.3% |
| Trading Fees | $0 - $6.95 | Plan dependent |
| Advisory Fees | 0.45% - 1.5% | 0.40% - 0.90% |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
John Hancock Strengths
- Unique wellness program integration
- Vitality rewards for healthy behavior
- Strong financial wellness education
- complete planning tools
Rollover, Loans & Withdrawals
| Feature | Merrill | John Hancock |
|---|---|---|
| Rollover Platform | Benefits OnLine | myplan.johnhancock.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Online via myplan.johnhancock.com, Phone (800-395-1113) |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose John Hancock if you want:
- Wellness-focused employers
- Mid-sized companies
- Insurance bundle seekers
Our Verdict: Merrill vs John Hancock
Merrill Lynch wins this comparison with a score of 8.0/10 vs 7.7/10. 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.
Other Popular Comparisons
Compare these 401(k) providers head-to-head
Vanguard vs John HancockCompare these 401(k) providers head-to-head
Schwab vs John HancockCompare these 401(k) providers head-to-head
Empower vs John HancockCompare these 401(k) providers head-to-head
T. Rowe Price vs John HancockCompare these 401(k) providers head-to-head
Principal vs John HancockCompare these 401(k) providers head-to-head
Merrill vs John Hancock: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and John Hancock for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while John Hancock is known for wellness focus. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to John Hancock's 0.30% - 1.3%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while John Hancock has $600 billion AUM and 3 million participants.
Key Differences: Merrill vs John Hancock
When comparing Merrill and John Hancock, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while John Hancock stands out for unique wellness program integration. 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 John Hancock's 4.0/5. For mobile experience, Merrill scores 4.2/5 while John Hancock scores 3.6/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose John Hancock if you're looking for wellness-focused employers. 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 John Hancock provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while John Hancock is best for wellness-focused employers. 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. John Hancock charges 0.30% - 1.3% expense ratios with admin fees of $1,000 - $4,000/year. Merrill's fees rating is 3.3/5 compared to John Hancock's 3.5/5.
Yes, you can roll over between Merrill and John Hancock. Merrill uses Benefits OnLine for rollovers, while John Hancock uses myplan.johnhancock.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. John Hancock 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 John Hancock scores 3.7/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. John Hancock offers Mutual Funds, Target Date Funds, Stable Value.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. John Hancock is best for wellness-focused employers, mid-sized companies, insurance bundle seekers. Compare admin fees: Merrill charges Varies by plan size vs John Hancock's $1,000 - $4,000/year.
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