Principal vs Merrill 401(k) Comparison
Compare Principal Financial (#6, 8.3/10) and Merrill Lynch (#8, 8.0/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Principal | Merrill |
|---|---|---|
| Overall Score | 8.3/10 | 8.0/10 |
| Rank | #6 | #8 |
| AUM | $700 billion | $3.0 trillion |
| Participants | 6 million | 5 million |
| Plan Sponsors | 46,000+ | 2,500+ |
| Founded | 1879 | 1914 |
Ratings Comparison
| Category | Principal | Merrill |
|---|---|---|
| Fees & Costs | 3.5/5 | 3.3/5 |
| Investment Options | 3.8/5 | 4.5/5 |
| Customer Service | 4.2/5 | 4.1/5 |
| Mobile App | 3.9/5 | 4.2/5 |
Fee Comparison
| Fee Type | Principal | Merrill |
|---|---|---|
| Admin Fees | $1,500 - $5,000/year for small plans | Varies by plan size |
| Expense Ratios | 0.25% - 1.5% | 0.03% - 1.5% |
| Trading Fees | Varies | $0 - $6.95 |
| Advisory Fees | 0.40% - 1.0% | 0.45% - 1.5% |
Principal Strengths
- Excellent for small business 401(k) plans
- Bundled benefits solutions
- Strong customer service for plan sponsors
- SimpleInvest managed portfolios
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- Comprehensive financial planning
- Wide investment selection
Which Should You Choose?
Choose Principal if you want:
- Small businesses
- Bundled benefit seekers
- Companies wanting insurance integration
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Our Verdict: Principal vs Merrill
Principal Financial wins this comparison with a score of 8.3/10 vs 8.0/10. Principal excels with excellent for small business 401(k) plans, 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 MerrillCompare these 401(k) providers head-to-head
Schwab vs MerrillCompare these 401(k) providers head-to-head
Empower vs MerrillCompare these 401(k) providers head-to-head
T. Rowe Price vs MerrillCompare these 401(k) providers head-to-head
Principal vs ADPCompare these 401(k) providers head-to-head
Principal vs Merrill: Complete 401(k) Comparison for 2026
Choosing between Principal Financial and Merrill Lynch for your 401(k) is an important decision that affects your retirement savings. Principal offers small business focus while Merrill is known for bofa integration. In terms of fees, Principal charges 0.25% - 1.5% expense ratios compared to Merrill's 0.03% - 1.5%. Principal manages $700 billion in assets and serves 6 million participants, while Merrill has $3.0 trillion AUM and 5 million participants.
Key Differences: Principal vs Merrill
When comparing Principal and Merrill, consider their core strengths: Principal excels with excellent for small business 401(k) plans, 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. Principal's customer service rating is 4.2/5 compared to Merrill's 4.1/5. For mobile experience, Principal scores 3.9/5 while Merrill scores 4.2/5.
Which Provider is Right for You?
Choose Principal if you prioritize small businesses. 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 Principal and Merrill provider pages.