My husband is just opening a rollover 401K with Merrill Lynch (His new job has a sep retirement program there, which he is also opening). We want to put some of the rollover into an index fund, but looking at their online page (can you say useless?) I can't find out which of the fund families they offer has a S&P 500 index fund. Does anyone have any experience with this? They list Fidelity, do they have an index fund? Is it a good one, or does Merrill Lynch offer any one that would be recommended. The broker said they offer Janus funds, though that is not on Merrill's online list. Are there other funds not on the online list that they carry?Why are you opening an account at Merrill?Think about the answer. If you just do not know what you want to do it maybe worth it. The firm is good. But expensive.If you know what you want to do, the index fund for one, go to a no load mutual fund and get one. The fund will help you transfer the money and set up the account. The performance of the same type of index fund should be similar between firms before they take their fees. Therfore go with a large mutual fund family with a low expense ratio. Not ML for this money.I use ML but only for bonds. Stock and mutual funds are through discount brokers.Don't panick. You can leave your money in a ML money market account until you make up your mind. Maybe tell the broker you think some diversification is a good idea and you will be using two or three investment sources.
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