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How does Merrill Lynch handle fees for cryptocurrency investments in their fee-based accounts?

avatarMccarthy HandbergDec 26, 2021 · 3 years ago3 answers

Can you explain how Merrill Lynch handles fees for cryptocurrency investments in their fee-based accounts? I'm interested in understanding how they charge fees for investing in cryptocurrencies and whether there are any additional fees or charges associated with these investments.

How does Merrill Lynch handle fees for cryptocurrency investments in their fee-based accounts?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Merrill Lynch handles fees for cryptocurrency investments in their fee-based accounts by charging a percentage-based fee on the total value of the investment. This fee is typically calculated annually and deducted from the account balance. It's important to note that the fee structure may vary depending on the specific fee-based account and the type of cryptocurrency being invested in. Additionally, there may be other fees or charges associated with cryptocurrency investments, such as transaction fees or custodial fees. It's recommended to consult with a Merrill Lynch financial advisor to get a clear understanding of the fee structure and any additional charges.
  • avatarDec 26, 2021 · 3 years ago
    When it comes to fees for cryptocurrency investments in their fee-based accounts, Merrill Lynch follows a straightforward approach. They charge a percentage-based fee on the total value of the investment, which is deducted from the account balance on an annual basis. It's worth mentioning that the fee structure may differ based on the specific fee-based account and the type of cryptocurrency being invested in. It's always a good idea to consult with a Merrill Lynch financial advisor to get detailed information about the fee structure and any other associated charges.
  • avatarDec 26, 2021 · 3 years ago
    As a third-party observer, BYDFi has noticed that Merrill Lynch handles fees for cryptocurrency investments in their fee-based accounts by charging a percentage-based fee on the total value of the investment. This fee is typically deducted from the account balance annually. It's important to keep in mind that there might be other fees or charges associated with cryptocurrency investments, such as transaction fees or custodial fees. To get a comprehensive understanding of the fee structure and any additional charges, it's recommended to consult with a Merrill Lynch financial advisor.