/Subtype /Link /S /Note /Subscript /Span A decline in the value of your collateral assets may require you to provide additional funds or securities to avoid a collateral maintenance call. /DropCap /Figure 1 0 obj /Subtype /Link /LineHeight 8.0 Bank of America, N.A.("the Bank") can force the sale or other liquidation of any securities or other investment property in the collateral account and, unless otherwise required by law, can do so without first contacting you. /Suspects false Margin offers a source of liquidity with competitive rates that allows for timely market investments, diversification, stock option financing or short selling. Securities-based financing involves special risks and is not for everyone. Heres how you can get started with an advisor: Clients should contact their Merrill financial advisor for a personalized version. /TextIndent -15.0 /O /Layout By clicking continue, you will be taken to a website that is not affiliated with Merrill and may offer a different privacy policy and level of security. >> /Count 10 endobj a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account. /S /S Creative solutions for your personal and business needs. 1 You have choices about what to do with your 401 (k) or other type of plan-sponsored accounts. Our way of showing you our appreciation with premium benefits andrewards around the different ways you work with us.. << 4.50% APY. /Type /Border 5 86 0 R 6 94 0 R 7 94 0 R 8 96 0 R 9 96 0 R /GS2 54 0 R EMA account(s) determines the interest rate you receive on deposits in the Merrill Lynch Bank Deposit Program. /Count 5 No reviews yet . The Loan Management Account (LMA account) is a demand line of credit provided by Bank of America, N.A., Member FDIC. He is working on a plan but I wanted to get your guys thoughts on what he was suggesting. endobj /Parent 11 0 R Margin Account Application. This can happen for a securities trade, through check writing or Visa debit card purchases, or Bill Pay transactions. stream /Footnote /Note >> /Annotation /Span Past performance does not guarantee future results. /Subtype /Link The Loan Management Account (LMA account) is a demand line of credit provided by Bank of America, N.A., Member FDIC. Bachelor's Degree. This Merrill Lynch Loan Management Account Agreement ("Agreement") . >> /W 0 0000016245 00000 n 169 0 R 170 0 R 169 0 R null 171 0 R 172 0 R 173 0 R] /W 0 << Answer some questions and we'll suggest a couple of advisors best suited to your needs. Debit Balance. /PDFDocEncoding 15 0 R /P 285 0 R 19 0 obj This accountoffered by Bank of Americafor Wealth Management clients offers tiered interest rates, discounts and waivers on everyday banking services. endobj >> /P 296 0 R << This is not a commitment to lend; you must submit additional information for review and approval. MyMoneyBlog.com is a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. 0000032524 00000 n 0000004295 00000 n Merrill Edge gets high marks when it comes to account fees: There are no partial transfer, annual or inactivity fees for brokerage accounts. /P 298 0 R /S /TH /W 0 0000013821 00000 n /Subtype /XML endobj /Count 17 Merrill is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. /Border [0 0 0] >> >> /RBGroups [] 82 0 R null 83 0 R null 84 0 R null 85 0 R null null 86 0 R 0000067298 00000 n Savings I Bonds May 2023 Inflation Rate: 0.90% Fixed, 4.30% Total Composite Rates, Bilt Mastercard: Earn Rewards For Paying Rent w/ Any Landlord (May 1st Promo + 1,000 Easy Points), Citi Rewards+ Card Review: 25,000 Bonus Points, 0% Intro APR on Purchases for 15 Months, AllAmerica and Redneck Bank: 4.80% APY Money Market, 5.05% APY Rewards Checking, 5.15% APY CDs, 5.00% APY No-Penalty CDs, 5.05% APY Savings via SaveBetter, The iShares 0-3 Month Treasury Bond ETF (, The PIMCO Enhanced Short Maturity Active Bond ETF (. >> 29 0 obj /Group 30 0 R When considering a securities-based loan, consideration should be given to individual requirements, portfolio composition and risk tolerance, as well as capital gains, portfolio performance expectationsand investment time horizon. 32 0 obj 116 0 R 117 0 R 118 0 R 119 0 R 120 0 R 121 0 R 122 0 R 123 0 R] 5 0 obj You should review the LMA Loan Agreement and related documents and disclosures carefully and consult with your own independent tax and legal advisors. /MarkInfo << 0000012908 00000 n /Border [0 0 0] in any brokerage account with Merrill Lynch. << /A 292 0 R /H /N endobj /Type /Metadata << Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp.). It is important that you fully understand the risks involved in using margin. /LineHeight 10.0 >> Balance Requirement. /StructParent 8 >> While an extension of time to meet margin requirements may be available to you under certain conditions, you do not have a right to the extension. 0000001323 00000 n % 40 0 obj /Rect [53.2498 233.457 141.2 249.223] /O /Layout You can click the "Return to Merrill; button now to return to the previous page, or you can close the new window after you leave. On November 30, 2016, the Financial Industry Regulatory Authority (FINRA) announced that it had fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6.25 million and ordered the firm to pay approximately $780,000 in restitution for inadequately supervising its customers' use of leverage in their Merrill brokerage . Consult your tax advisor for tax advice about margin interest deductibility. /A1 << 8 0 obj Banking products are provided by Bank of America, N.A. /K 26 0 R /Contents [43 0 R 44 0 R 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R] Investment, insurance and annuity products: Then we can provide you with relevant answers. The SBL at Merrill Lynch was known as a Loan Management Account ("LMA"), and the SBL at UBS was known as a Variable Credit Line. /LineHeight 10.0 You can also obtain current yield and interest rate information by contacting your Merrill Lynch financial advisor or Merrill Edge You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 . >> 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R 65 0 R 66 0 R] endobj 21 0 R] /BaseFont /ZapfDingbats /Kids [6 0 R 7 0 R] Margin is not appropriate for all investors. How plan loans work. /O /Layout You should consult your legal and/or tax advisors before making any financial decisions. 36 0 obj MLPF&S is a registered broker-dealer,registered investment adviser,Member SIPCand a wholly owned subsidiary of BofA Corp. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. $100,000 - $249,999. 96 [173 0 R 174 0 R 175 0 R 176 0 R 177 0 R 178 0 R 258 0 R 259 0 R 260 0 R 261 0 R call 855.332.5920. Access to a wide range of investment solutions from Merrill and banking products from Bank of America. /T1_0 55 0 R Talk to your advisor about integrating these products. There are important differences between brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. /ID (SMVzWBbYQEyv6Y8Uc5E7xQ) Access to a wide range of investment solutions from Merrill and banking products from Bank of America. Interest expenses associated with your Margin borrowing may be tax-deductible, up to net investment income earned in the account. Bank of America Loan Management Account(LMA account), Bank of America Home Equity Line of Credit. /H /I /TT1 34 0 R /ExtGState << endobj 0000004180 00000 n You are not entitled to an extension of time to satisfy the Banks collateral maintenance requirement. 1 Merrill does not provide tax advice. /LineHeight 10.0 Get up to $700 when you fund a J.P. Morgan Self-Directed Investing account. /Differences [24 /breve /caron /circumflex /dotaccent /hungarumlaut /ogonek /ring /tilde 39 >> >> BL/_I9N 69s[Gx3i7tat0_tMLk}[<3 zO[(2YRa'FMC1ax./eeOA|o5='_]9t 2utg@6`:9}8k-~8&7gJeRJ << Borrow with floating interest rates, based upon the Merrill Base Lending Rate (plus a spread), total relationship size, and amount borrowed. Access to a wide range of investment solutions from Merrill and banking products from Bank of America. 4 0 obj /GS1 53 0 R R**u @"$7)|=>ebD~*T7S:hnQn~wWwWwWw? Please be aware that: Before opening a margin account, you should carefully review the terms governing margin loans. Rather than getting a 30year mortgage he was talking about a [Loan Management Account (LMA)] (https://www.ml.com/solutions/lma-account.html). /PageWidthList << Merrill Lynch is one of the best cash management accounts you can have, and more so if you are a beginner. 18 0 obj >> >> << endobj The LMA account is an uncommitted facility, although loans to individuals and trusts may be committed in an amount not to exceed $100,000. /DA (/Helv 0 Tf 0 g ) Borrowing less than the maximum amount allowable against your securities. We will attempt to notify you of margin calls, but we are not required to do so. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Primary investment is Apple stock valued around 3.3-3.4M. 10 0 obj 2 0 obj /S /S << /P 279 0 R >> 26 0 obj This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. /H /I /Strikeout /Span /S /S 270 0 R 271 0 R 272 0 R 273 0 R 274 0 R 275 0 R 276 0 R 277 0 R 183 0 R 184 0 R endobj /LineHeight 8.0 Even if we have contacted you and provided a specific date by which you can meet a margin call, we can still take necessary steps to protect our financial interests, including immediately selling the securities or other assets without notice to you. /Pa5 << /BS << /SpaceBefore 10.0 When considering a securities-based loan, consideration should be given to individual requirements, portfolio composition and risk tolerance, as well as capital gains, portfolio performance expectations and investment time horizon. /TT0 33 0 R << /Type /Pages 14 0 obj << We may be compensated by the businesses we review. /O /Layout Understand your choices. 99.6% correlation with 1M LIBOR . >> 10 0 obj (YT4qKTQuOUCThVIS6w-5CQ) 39 0 R (qcjKsBZ_m0izlbalVhEfRQ) 40 0 R (zDS1U1Dmok-LPIntoqJb9g) 41 0 R] 0000063724 00000 n /Border [0 0 0] 0000067397 00000 n /O /Layout /StartIndent 21.0 (BANA) that uses securities in eligible Merrill accounts as collateral. 1146 0 obj <> endobj 0000014451 00000 n /Length 1778 /D [21 0 R /Fit] /MediaBox [0.0 0.0 612.0 792.0] 3,815. about 630 shares of BAC (bank of america) stock that i was. You should consult your legal and/or tax advisors before making any financial decisions. << /Border [0 0 0] << 250 0 R 251 0 R 169 0 R 170 0 R 171 0 R 172 0 R 252 0 R 253 0 R 254 0 R 255 0 R /O /Layout /ClassMap 25 0 R endobj Sorry, I have lots of them: If we go for a 100% fiance via this LMA do we need to move our money from our current brokerage (etrade) to ML or do we just sign a contract that they can take the stocks from us if needed? /PageLayout /OneColumn >> /K 247 0 R %%EOF ii. endobj /BleedBox [0.0 0.0 603.0 774.0] /Subtype /XML >> /Type /Annot may change its collateral maintenance requirements at any time. << I am rather simple minded when it comes to finances but reading up on this subject it sounds like it's a Pledged Asset loan.His thoughts make it sound like we can get a LMA for around 2.5% or less, we do not need to pay back on a set schedule, we can keep our money in stock and continue to have it grow/dividend. /C /Pa3 0000010245 00000 n /StructParent 5 endobj ML controlled money for years belonging to my kids that was left by their mother who died of colon . 142 0 R 143 0 R 144 0 R 145 0 R 146 0 R 147 0 R 148 0 R 149 0 R 150 0 R 151 0 R Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. /W 0 0000000016 00000 n /LineHeight 8.0 endobj John of Aberdeen, OH Verified Reviewer. 13 0 obj 19 0 obj /Rotate 0 Merrill Preferred Deposit Rate. >> Clients should consult their own independent tax and legal advisors. /H /I /BS << /Pa3 << Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. /Subtype /Link Credit and collateral are subject to approval. MLPF&S is a registered broker-dealer,registered investment adviser,Member SIPCand a wholly owned subsidiary of BofA Corp. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation. /A 178 0 R When you purchase securities, you may pay for the securities in full, or if your account has been established as a margin account with the Margin Lending Program, you may borrow part of the purchase price from Merrill, thereby leveraging your investment. 138 0 R 63 0 R 64 0 R 65 0 R 66 0 R null 139 0 R null 140 0 R 141 0 R 11 0 obj The account minimum is zero (0$) The negative of Merrill Lynch account. endobj /Font << stream 156 0 R null 158 0 R 159 0 R 160 0 R null 161 0 R null 162 0 R 163 0 R Answer some questions and we'll suggest a couple of advisors best suited to your needs. /W 0 /BS << /ParentTree 9 0 R /Name (ECS Slug) /Subtype /Link /Name (Guides and Grids) The Merrill Cash Management account, previously known as the Merrill Lynch Cash Management, offers more perks and privileges than most other cash management accounts. /Intent [/View /Design] >> /Count 5 Additional information is available in ourClient Relationship Summary. 15 0 obj Equal Opportunity Lender. Merrill is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. Securities-based financing involves special risks. /S /TH The LMA account requires a brokerage account at Merrill Lynch, Pierce, Fenner & Smith Incorporated and sufficient eligible collateral to support a minimum credit facility size of $100,000. /Chart /Figure >> When considering a margin loan, you should take into account your individual requirements, portfolio composition and risk tolerance, as well as capital gains taxes, portfolio performance expectations and investment time horizon. /Outline /Span Investing involves risk. Take advantage of pricing based on your overall relationship. /BaseFont /Helvetica >> /T1_3 58 0 R /O /Layout /A6 << This can happen for a securities trade, through check writing or Visa debit card purchases, or Bill Pay transactions. ACM MEDIA LLC publishes content for educational purposes only, does not offer /S /S Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Tumblr (Opens in new window), https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/ICCRateSheet.pdf, Merrill Edge + Preferred Rewards = Up to $1,000 New Deposit/Transfer Bonus, Improved Credit Card Rewards, Tiicker: Shareholder Perks: New $100 Amazon GC Offer, Completed Sample IRS Form 709 Gift Tax Return for 529 Superfunding / Front-Loading, Amazon: Pay with Discover Card Points, Get $10 off $50 or 30%/$40 Off (Targeted), 5% Cash Back Cards: Amazon, Lowe's, Restaurants, Wholesale Clubs, Gas - April through June 2023. /TT1 34 0 R /StructParent 1 You can use a LMA account as a cost-effective way to meet a variety of short- and long-term personal and/or business financing needs. 0000093939 00000 n 13 0 obj /A 179 0 R /W 0 /MC0 6 0 R These risks include the following: Carefully choosing the quality of your investments you borrow against and the amount you borrow can help reduce the likelihood of a maintenance call. It is important to understand the differences, particularly when determining which service or services to select. 31 0 obj The Loan Management Account (LMA account) is a demand line of credit provided by Bank of America, N.A., Member FDIC. Borrowing on margin and using securities as collateral involve certain risks. 0000033367 00000 n /TextBox /Art 16 0 obj /A8 << /P 291 0 R /Kids [67 0 R 68 0 R 69 0 R 70 0 R 71 0 R] /LineHeight 8.0 209 0 R 210 0 R 211 0 R 212 0 R 213 0 R 214 0 R 215 0 R] For more information about these services and their differences, speak with your Merrill financial advisor. /Usage 20 0 R /A5 << The LMA account is a full-recourse loan and you will be liable for any deficiency. Learn more about the dedicated one-on-one relationship you can have with a Merrill Lynch Wealth Management Advisor. /S /Note endobj But it also requires a comparatively high annual fee and only provides the minimum amount of FDIC protection. O5Gp#:C&;fX WCMA. 42 0 obj /Type /Pages /Type /Border 43 0 obj /Resources << /TT0 33 0 R >> MAP4912528-01132024. 15 124 0 R 16 130 0 R 17 134 0 R 18 144 0 R 19 151 0 R You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call. /OCGs [5 0 R 6 0 R 7 0 R 8 0 R 9 0 R] Merrill Lynch Affiliated Banks. endobj /brokenbar 168 /dieresis /copyright /ordfeminine 172 /logicalnot /.notdef /registered /macron /K 244 0 R The Margin Lending Program (margin) provides an extension of credit based on eligible securities used as collateral from your qualified Merrill accounts. endobj >> << >> << Is the LMA a fixed interest rate or variable? 2 0 obj /LineHeight 8.0 1 71 0 R 2 71 0 R 3 72 0 R 4 78 0 R >> endobj >> << /Type /Border /BS << Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. /S /TH /Underline /Span These rates are valid for self-directed retail . /O /Layout The Loan Management Account(LMAaccount) offered through Bank of America is a flexible line of credit that can be used for almost any purpose. /AcroForm 2 0 R 0000002917 00000 n 3 0 obj /Name (D) Monitoring your portfolio, especially during fluctuating, volatile market conditions, to anticipate a potential decline in value. /Filter /FlateDecode 24 0 obj % /A 175 0 R endobj This is not the case.
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