Updated 2026-03-30
T. Rowe Price vs Merrill 401(k) Comparison
Compare T. Rowe Price (#5, 8.5/10) and Merrill Lynch (#8, 8.0/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | T. Rowe Price | Merrill |
|---|---|---|
| Overall Score | 8.5/10 | 8.0/10 |
| Rank | #5 | #8 |
| AUM | $1.3 trillion | $3.0 trillion |
| Participants | 10 million | 5 million |
| Plan Sponsors | 4,500+ | 2,500+ |
| Founded | 1937 | 1914 |
Ratings Comparison
| Category | T. Rowe Price | Merrill |
|---|---|---|
| Fees & Costs | 3.8/5 | 3.3/5 |
| Investment Options | 4.6/5 | 4.5/5 |
| Customer Service | 4.4/5 | 4.1/5 |
| Mobile App | 4.2/5 | 4.2/5 |
Fee Comparison
| Fee Type | T. Rowe Price | Merrill |
|---|---|---|
| Admin Fees | $0 - $50/year | Varies by plan size |
| Expense Ratios | 0.30% - 1.2% | 0.03% - 1.5% |
| Trading Fees | $0 for T. Rowe Price funds | $0 - $6.95 |
| Advisory Fees | 0.30% - 1.25% | 0.45% - 1.5% |
T. Rowe Price Strengths
- Excellent actively managed fund performance
- Best-in-class target date funds
- Strong research capabilities
- No-transaction-fee mutual fund platform
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
Rollover, Loans & Withdrawals
| Feature | T. Rowe Price | Merrill |
|---|---|---|
| Rollover Platform | Individual.troweprice.com | Benefits OnLine |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online portal, Phone (800-225-5132) | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches |
| 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 T. Rowe Price if you want:
- Active fund believers
- Target-date fund users
- Research-oriented investors
- Long-term holders
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Our Verdict: T. Rowe Price vs Merrill
T. Rowe Price wins this comparison with a score of 8.5/10 vs 8.0/10. T. Rowe Price excels with excellent actively managed fund performance, 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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T. Rowe Price vs Merrill: Complete 401(k) Comparison for 2026
Choosing between T. Rowe Price and Merrill Lynch for your 401(k) is an important decision that affects your retirement savings. T. Rowe Price offers active management while Merrill is known for bofa integration. In terms of fees, T. Rowe Price charges 0.30% - 1.2% expense ratios compared to Merrill's 0.03% - 1.5%. T. Rowe Price manages $1.3 trillion in assets and serves 10 million participants, while Merrill has $3.0 trillion AUM and 5 million participants.
Key Differences: T. Rowe Price vs Merrill
When comparing T. Rowe Price and Merrill, consider their core strengths: T. Rowe Price excels with excellent actively managed fund performance, while Merrill stands out for bank of america preferred rewards benefits. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. T. Rowe Price's customer service rating is 4.4/5 compared to Merrill's 4.1/5. For mobile experience, T. Rowe Price scores 4.2/5 while Merrill scores 4.2/5.
Which Provider is Right for You?
Choose T. Rowe Price if you prioritize active fund believers. 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 T. Rowe Price and Merrill provider pages.
Frequently Asked Questions
T. Rowe Price scores higher in our 2026 rankings with 8.5/10. T. Rowe Price is best for active fund believers, while Merrill is best for bofa customers. The right choice depends on your employer's plan and your priorities.
T. Rowe Price charges expense ratios of 0.30% - 1.2% with admin fees of $0 - $50/year. Merrill charges 0.03% - 1.5% expense ratios with admin fees of Varies by plan size. T. Rowe Price's fees rating is 3.8/5 compared to Merrill's 3.3/5.
Yes, you can roll over between T. Rowe Price and Merrill. T. Rowe Price uses Individual.troweprice.com for rollovers, while Merrill uses Benefits OnLine. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
T. Rowe Price offers 401(k) loans. Merrill offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
T. Rowe Price scores 4.6/5 for investment options, while Merrill scores 4.5/5. Both offer target-date funds, index funds, and managed accounts. T. Rowe Price's investment options include Active Mutual Funds, Target Date Funds, Index Funds. Merrill offers Mutual Funds, ETFs, Stocks.
For small businesses, consider plan minimums and per-participant costs. T. Rowe Price is best for active fund believers, target-date fund users, research-oriented investors, long-term holders. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. Compare admin fees: T. Rowe Price charges $0 - $50/year vs Merrill's Varies by plan size.
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