Updated 2026-03-30
Merrill vs Nationwide 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and Nationwide (#13, 7.3/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | Nationwide |
|---|---|---|
| Overall Score | 8.0/10 | 7.3/10 |
| Rank | #8 | #13 |
| AUM | $3.0 trillion | $250 billion |
| Participants | 5 million | 3.5 million |
| Plan Sponsors | 2,500+ | 30,000+ |
| Founded | 1914 | 1926 |
Ratings Comparison
| Category | Merrill | Nationwide |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.4/5 |
| Investment Options | 4.5/5 | 3.5/5 |
| Customer Service | 4.1/5 | 4.0/5 |
| Mobile App | 4.2/5 | 3.4/5 |
Fee Comparison
| Fee Type | Merrill | Nationwide |
|---|---|---|
| Admin Fees | Varies by plan size | $800 - $3,500/year |
| Expense Ratios | 0.03% - 1.5% | 0.30% - 1.3% |
| Trading Fees | $0 - $6.95 | Plan dependent |
| Advisory Fees | 0.45% - 1.5% | 0.45% - 0.95% |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
Nationwide Strengths
- Strong in 403(b) and 457 plans
- Guaranteed lifetime income options
- Good public sector solutions
- Stable value fund options
Rollover, Loans & Withdrawals
| Feature | Merrill | Nationwide |
|---|---|---|
| Rollover Platform | Benefits OnLine | Nationwide.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Online via Nationwide.com, Phone (877-677-3678) |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Guaranteed lifetime income, Rollover to IRA |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose Nationwide if you want:
- Public sector employees
- Teachers and nonprofits
- Guaranteed income seekers
Our Verdict: Merrill vs Nationwide
Merrill Lynch wins this comparison with a score of 8.0/10 vs 7.3/10. 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 Nationwide: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and Nationwide for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while Nationwide is known for public sector. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to Nationwide's 0.30% - 1.3%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while Nationwide has $250 billion AUM and 3.5 million participants.
Key Differences: Merrill vs Nationwide
When comparing Merrill and Nationwide, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while Nationwide stands out for strong in 403(b) and 457 plans. 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 Nationwide's 4.0/5. For mobile experience, Merrill scores 4.2/5 while Nationwide scores 3.4/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose Nationwide if you're looking for public sector employees. 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 Nationwide provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while Nationwide is best for public sector employees. 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. Nationwide charges 0.30% - 1.3% expense ratios with admin fees of $800 - $3,500/year. Merrill's fees rating is 3.3/5 compared to Nationwide's 3.4/5.
Yes, you can roll over between Merrill and Nationwide. Merrill uses Benefits OnLine for rollovers, while Nationwide uses Nationwide.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. Nationwide 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 Nationwide scores 3.5/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. Nationwide offers Mutual Funds, Target Date Funds, Fixed Annuities.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. Nationwide is best for public sector employees, teachers and nonprofits, guaranteed income seekers. Compare admin fees: Merrill charges Varies by plan size vs Nationwide's $800 - $3,500/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