0000026227 00000 n /S /S /Pa21 << /O /Layout If you choose to borrow funds for your purchase, Merrills collateral for the loan will be the securities purchased, other assets in your margin account, and your assets in any other accounts at Merrill other than retirement accounts (such as IRAs). /Endnote /Note As a Merrill client, you can purchase CDs through Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill) from various banks, including Bank of America, N.A. << /Filter /FlateDecode endobj The client can lose more funds than deposited in such collateral account. endobj The clients had been sold loan management accounts (LMAs), which are lines of credit that allowed the . 146 0 R 147 0 R null 148 0 R 149 0 R null null 150 0 R 151 0 R 150 0 R Get up to $600 when you open a new Merrill Edge account with at least $20,000. /ExtGState << >> The account minimum is zero (0$) The negative of Merrill Lynch account. On smaller securities purchases, a higher percentage of the transaction costs goes to commissions and interest charges, which are generally higher on smaller balances. /Usage 20 0 R /S /Sect << Rather than getting a 30year mortgage he was talking about a [Loan Management Account (LMA)] (https://www.ml.com/solutions/lma-account.html). Your financial advisor can help you choose the loan terms that work best for your individual situation. 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. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. /InlineShape /Figure 5 0 obj It is important that you fully understand the risks involved in using margin. >> /TextIndent 5.0 /CS0 [/ICCBased 51 0 R] You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 . /ID (T6ilJfqchU-HY-3u-uxNsQ) >> Whatever your goals, Merrill and Bank of America offer a wide range of solutions to help you get there. 0000018918 00000 n endobj 6 0 obj >> ] 17 0 obj /Type /Pages 34 0 obj Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. 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. /brokenbar 168 /dieresis /copyright /ordfeminine 172 /logicalnot /.notdef /registered /macron /O /Layout >> /Annots [36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R 45 0 R] Contact your Financial Advisor to learn more. For the remaining USD LIBOR settings, after June 30, 2023, the overnight and 12-month USD LIBOR settings are expected . Bank of America Private Bank is a division of Bank of America, N.A. Depending on your financial circumstances, needs, and goals, you may choose to roll over to an IRA or convert to a Roth IRA, roll over a 401 (k . >> in any brokerage account with Merrill Lynch. 0000015597 00000 n 0000012908 00000 n >> /Kids [67 0 R 68 0 R 69 0 R 70 0 R 71 0 R] /LineHeight 8.0 /BS << While an extension of time to meet margin requirements may be available to you under certain conditions, you don't have a right to the extension. >> << We may be compensated by the businesses we review. In a 3 -year back -test, Bloomberg reports a . >> << /O /Layout Disclaimer: ACM MEDIA LLC provides reviews of services based on our personal call 855.332.5920. A basic savings account offering tiered interest and relationship-based monthly maintenance feewaivers. opinions. /Type /Page /Type /Catalog /ParentTree 9 0 R /SpaceAfter 3.0 223 0 R 224 0 R 224 0 R 225 0 R 226 0 R 227 0 R 228 0 R 229 0 R 230 0 R 231 0 R Balance Requirement. If the equity in your account falls below the maintenance margin requirements or Merrills higher house requirements, we can sell the securities or other assets in any of your accounts held by us to cover the margin deficiency. >> All applications for LMA accounts are subject to approval by Bank of America, N.A. The Loan Management Account(LMAaccount) offered through Bank of America is a flexible line of credit that can be used for almost any purpose. /StructParent 1 /SpaceAfter 3.0 /LineHeight 10.0 1146 0 obj <> endobj the FA stated the SBL account interest rates were lower than conventional mortgage rates, the financial advisers could continue to manage the Claimants' assets in the accounts and earn more than the SBL . %PDF-1.5 Investing involves risk. /Border [0 0 0] 2$100,000 minimum opening deposit. No set repayment schedule if you maintain the required level of equity in your account. null 67 0 R null 68 0 R null 69 0 R null 70 0 R null null 0000003120 00000 n information about the scope and terms of the brokerage services that Merrill Lynch, 0000007676 00000 n >> /Pages 12 0 R /MC0 6 0 R /StartIndent 13.0 /Font << 17 0 obj << /LineHeight 10.0 << /OC 6 0 R /A 278 0 R /SpaceAfter 2.0 >> /S /Note << 0000014734 00000 n Talk to your advisor about integrating these products. /Direction /L2R << /A 183 0 R and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. 0000093939 00000 n 22 0 obj /H /I 0000004295 00000 n Get timely insights on what's happening with the markets & global economy to help you stay on track. >> The Bank may demand full or partial repayment at any time and any commitment may be immediately terminated. ] /S /TH 122 0 R 123 0 R 124 0 R 125 0 R 126 0 R 127 0 R 128 0 R 129 0 R 130 0 R 131 0 R /Outlines 11 0 R << Publication of the 1-month and 6-month synthetic GBP LIBOR settings will cease after March 31, 2023, while publication of 3-month synthetic GBP LIBOR setting will cease after March 31, 2024. Asset allocation, rebalancing and diversification do not guarantee against risk in broadly declining markets. (DDM_zq-UIkCHmgB-1EGp2w) 34 0 R (FbBoOIB1aUeU-9YtpzOypg) 35 0 R (OK7nydjdCUato9gtgGrldw) 36 0 R (SMVzWBbYQEyv6Y8Uc5E7xQ) 37 0 R (T6ilJfqchU-HY-3u-uxNsQ) 38 0 R /Pa3 << endeavors to anticipate . 20 0 obj /Artifact /P 0000021608 00000 n endobj /GS2 54 0 R /Intent [/View /Design] You can satisfy the combined balance requirement for enrollment with either: i.a three-month combined average daily balance in your qualifying deposit and investment accounts or ii.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. 0000032900 00000 n /Name (US Consumer Privacy Notice) << /OCGs [5 0 R 6 0 R 7 0 R 8 0 R 9 0 R] There is always the potential of losing money when you invest in securities. endobj 10 0 obj 179 0 R 180 0 R 181 0 R 182 0 R 183 0 R 184 0 R 185 0 R 186 0 R 187 0 R 188 0 R] /XObject << 5 0 obj /TT1 34 0 R /Type /Border Beginning April 1, 2015, EMA accounts will no longer be valued together with . . Loan Management Account Agreement 11/01/2021. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. /K 232 0 R /AcroForm 2 0 R >> Borrow with floating interest rates, based upon the Merrill Base Lending Rate (plus a spread), total relationship size, and amount borrowed. This accountoffered by Bank of Americafor Wealth Management clients offers tiered interest rates, discounts and waivers on everyday banking services. /Type /Border /TextDecorationType /Underline << /Resources << Additional information is available in ourClient Relationship Summary. stream 44 years old, married two kids 10 and 6years old. 90 0 R 91 0 R 92 0 R 93 0 R 94 0 R] << Bank of Americas suite of banking products and services. This material does not take into account a clients particular investment objectives, financial situations, or needs and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any security or investment strategy. How plan loans work. Have questions for your financial advisors? /CropBox [0.0 0.0 612.0 792.0] This Fact Sheet sets forth certain of the investment considerations relating to the purchase of a CD. 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 . /LineHeight 14.0 Securities-based financing involves special risks and is not for everyone. /Helv 16 0 R Some restrictions on the use of LMA account proceeds may apply under the terms of the loan documents and applicable laws and regulations. 162 0 R 163 0 R 164 0 R 165 0 R 166 0 R 167 0 R 168 0 R 169 0 R 170 0 R 171 0 R This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. endobj /EmbeddedFiles 18 0 R /O /Layout stream >> 14 0 obj Past performance does not guarantee future results. 800.637.7455. www.ml.com. 39 0 obj Learn more about the dedicated one-on-one relationship you can have with a Merrill Lynch Wealth Management Advisor. << /Fields [] endobj 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. The Margin Lending Program (margin) provides an extension of credit based on eligible securities used as collateral from your qualified Merrill accounts. /Pa0 << Our approach. 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. /Pa4 << Diversifying your portfolio by purchasing securities that balance your holdings and potentially offset losses on existing securities. << Personal and investment real estate purchases, Business startup or expansion or acquisitions, Diversification for concentrated securities positions, Strategy Paper: How business owners can unlock capital. This is not a commitment to lend; you must submit additional information for review and approval. >> /CropBox [0.0 0.0 603.0 774.0] >> endobj 19 0 obj A decline in the value of your collateral assets may require you to provide additional funds or securities to avoid a collateral maintenance call. endobj 8 0 obj /S /S endstream 1. /Intent [/View /Design] << null 133 0 R null null 134 0 R 135 0 R null 136 0 R null 137 0 R (i was a merrill lynch employee through read more. /StructParent 5 << 14 0 obj /S /TH 12 111 0 R 13 111 0 R 14 118 0 R endobj endobj . /SpaceAfter 9.0 /ID (-3iqb6ZERkSf-Hc_vzJcOw) /ID (FbBoOIB1aUeU-9YtpzOypg) /Type /Annot >> Our financial advisors are committed to putting your investing needs and priorities first. endobj /ViewerPreferences << =Exx'~` >> BL/_I9N 69s[Gx3i7tat0_tMLk}[<3 zO[(2YRa'FMC1ax./eeOA|o5='_]9t 2utg@6`:9}8k-~8&7gJeRJ /Subscript /Span 16 0 obj Credit and collateral are subject to approval. /O /Layout /A 295 0 R << >> 99.6% correlation with 1M LIBOR . Securities-based financing involves special risks. Available nationwide, Merrill Preferred Deposit account is offering 4.50% APY on your funds with a minimum opening deposit of $100,000. You are not entitled to an extension of time to satisfy the Banks collateral maintenance requirement. ii. Banking products are provided by Bank of America, N.A. Merrill Lynch Affiliated Banks. This is not the case. >> /O /Layout << Understand your choices. Is this LMA thing crazy or a good idea? (c) Overdraft. You should review the LMA Loan Agreement and related documents and disclosures carefully and consult with your own independent tax and legal advisors. Some restrictions may apply to purpose loans and not all managed accounts are eligible as collateral. FINRA Sanctions Against the Firm Underline the Dangers of Leverage-Backed Lines of Credit and Margin Risk . %%EOF 112 0 R 113 0 R 114 0 R 115 0 R 116 0 R 117 0 R 118 0 R 119 0 R 120 0 R 121 0 R /Type /Annot /StructTreeRoot 4 0 R /Footnote /Note -!X@!IQ \1u^G 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. /Border [0 0 0] endobj /Subtype /Link Posted on December 7, 2016. /ParentTreeNextKey 104 It is important to understand the differences, particularly when determining which service or services to select. As a forward -looking term rate, BSBY. /StructParent 2 /BS << Some restrictions may apply to purpose loans, and not all managed accounts are eligible as collateral. 82 0 R 83 0 R 84 0 R 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R >> 21 0 R] U.S. Trust Company of Delaware is a wholly owned subsidiary of Bank of America Corporation. Use eligible investments in your Merrill brokerage account as collateral for multiple loan from Bank of America. << /S /S >> /Type /Annot /IDTree 19 0 R /Encoding 15 0 R
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