Big news…
A company with over 1.6 trillion dollars in client assets under its managment, with over 60,000 employees, that is in over 40 countries and territories just announced it is being bought out by Bank of America! I’m of course talking about Merrill Lynch. Do you have a merrill lynch 401k through your employer, and are wondering if this buyout will effect it? In terms of value, no, because merrill didn’t invest your 401k in its own stocks, but in stocks of various other companies in a diversified (you hope) portfolio. The only real change will be from an administration standpoint, with possibly different fees and customer service paradigm as well.