Updated September 28, 2026 · SumCue Editorial Team
Empower Personal Dashboard vs Merrill Edge
Empower Personal Dashboard
Merrill Edge
Higher score in this comparison
Empower Personal Dashboard vs Merrill Edge: the differences
| Compare | Empower Personal DashboardReviewVisitVisit | Merrill EdgeReviewSee alternativesSee alternatives |
|---|---|---|
| Management fee | 0%Lower | 0.45% to 0.85% |
| Minimum investment | $0 | $0 to $1,000 |
| Account types | IRA | IRA, Roth IRA, Joint, CorporateCovers more |
| Portfolio types | ETF, CashCovers more | ETF |
| Regulators | Not confirmed | FINRA, SEC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.3.
- Founded is lower at Merrill Edge: 1914 vs 2014.
- Management fee is lower at Empower Personal Dashboard: 0% vs 0.45% to 0.85%.
- Account types: only Merrill Edge offers Roth IRA, Joint, Corporate.
- Portfolio types: only Empower Personal Dashboard offers Cash.
- Support channels: only Merrill Edge offers Chat.
Our verdict on each
Empower Personal Dashboard
Empower Personal Dashboard suits US households that want cash and investments in one place, paying a variable headline rate of 3.5% and asking for a minimum deposit of $0. Deposits sit under FDIC up to USD 250,000, and the dashboard moves money with the ease of a checking account.
Merrill Edge
Merrill Edge suits people who want to trade US stocks and ETFs with no commission and no monthly charge. It suits beginners and experienced investors who want a retirement, joint or corporate account, and the minimum deposit is $0 with a stock trade fee of $0.
Score breakdown
| Area | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| Cost | 10.0HigherManagement fee 0%, account fee $0, stock trade fee $0, minimum investment $0. | 9.3Account fee $0, inactivity fee $0 and stock trade fee $0 are the lowest we rank. |
| Offer | 8.7 | 9.6Higher |
| Trust | 9.0 | 9.7Higher |
Positions in our rankings
| Ranking | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| Investing | 22 of 654 | 66 of 654 |
| Stock and ETF brokers | 13 of 358 | 41 of 358 |
| Robo-advisors | 2 of 154 | 12 of 154 |
What it costs in practice
10,000 invested for a year
Empower Personal Dashboard
0
0% of 10,000
Merrill Edge
45 to 85
0.45% to 0.85% of 10,000
Empower Personal Dashboard comes out 45 lower in this example.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Every fact side by side
| Fact | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| Legal entity | Empower Advisory Group, LLC | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | United States | United States |
| Founded | 2014 | 1914Lower |
| Support channels | Email, Phone, Help centre | Phone, Chat, Help centre, EmailCovers more |
Savings
| Fact | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| Headline rate | 3.5% | Not confirmed |
| Rate type | Variable | Not confirmed |
| Minimum deposit | $0 | $0 |
| Deposit protection | FDIC up to USD 250,000 | Not confirmed |
| Pricing model | Commission free, Low feesCovers more | Commission free |
| Access terms | Easy access like a checking account; deposit and withdraw through the Empower Dashboard via website and mobile app | Not confirmed |
| Monthly fee | $0 | Not confirmed |
| Account kind | Cash management | Not confirmed |
Brokers
| Fact | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| Stock trade fee | $0 | $0 |
| Account fee | $0 | $0 |
| Inactivity fee | Not confirmed | $0 |
| Markets | Stocks, ETFs, Funds | Stocks, ETFs, Options, Bonds, FundsCovers more |
| Features | Mobile app | Fractional shares, Demo account, Mobile app, OptionsCovers more |
| Audience | Not confirmed | Beginners, Experienced |
| Options contract fee | Not confirmed | $0.65 |
| Platforms | Not confirmed | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
Where each stands against the rest
| Fact | Empower Personal Dashboard | Merrill Edge | Median |
|---|---|---|---|
| Management fee | 0%lowest quarter | 0.45% to 0.85%above the median | 0.35% |
| Minimum investment | $0lowest quarter | $0 to $1,000lowest quarter | $500 |
Median across 86 listed providers.
Pros and cons
Empower Personal Dashboard
Pros
- Support runs on email, phone and help centre, so help is a phone call or an email away.
- The cash side sits under FDIC up to USD 250,000.
- Access suits everyday money: deposits and withdrawals run through the dashboard itself.
Cons
- The rate type is variable, so the 3.5% headline can move rather than being fixed for a term.
- Markets are limited to stocks, etfs and funds, with no foreign exchange, crypto or bond trading listed.
- Investing money carries risk: the share of retail accounts that lose money is 70.15%.
Merrill Edge
Pros
- Stock trades cost $0 and the account fee is $0.
- Nothing is charged for inactivity, at $0, and the minimum deposit is $0.
- Fractional shares, a demo account, a mobile app and options are all available.
Cons
- Options carry a fee of $0.65, so the commission-free deal stops at derivatives.
- The advisory side adds a management fee of 0.45% to 0.85% and a minimum investment of $0 to $1,000.
- Most retail accounts lose money, 72.05% on this ranking, so low charges say nothing about how the portfolio performs.
Who each suits
Empower Personal Dashboard
Who it suits
- US households who want a cash balance alongside a ira account in one place.
- Investors comfortable with a focused list of stocks, etfs and funds held in etf and cash.
- People who value phone and email help, since support runs on email, phone and help centre.
Who should look elsewhere
- Readers after a UK or European savings account: Empower is headquartered in the United States, and PiggyVest quotes its minimum investment as NGN 5,000 in another currency.
- Anyone who wants a stated entry floor before investing: eToro asks $500 and Axos Invest $100, against $0 here.
- People trading forex, crypto or bonds: the market list here is stocks, etfs and funds, so eToro or Axos Invest are the comparisons to read for wider classes.
Merrill Edge
Who it suits
- First-time US share buyers using fractional shares and a demo account.
- Experienced investors who want options and a mobile app in one place.
- Anyone saving into an IRA, Roth IRA, joint or corporate account.
Who should look elsewhere
- Traders after forex, CFDs or crypto: CFI covers stocks, etfs and forex.
- Savers wanting a bank balance, since bunq personal plans start from a minimum deposit of €10.
- Borrowing rather than investing, as Fiesta Credito MX answers to CONDUSEF.
Current offers
Merrill Edge
Current offer
First period offer
$0 program fee for 6 months - Merrill Guided Investing: $0 for 6 months
New enrollments, use offer code 6FREE
Source, checked September 26, 2026
Country by country
| Country | Empower Personal Dashboard | Merrill Edge |
|---|---|---|
| United States | Yes | Yes |
Questions about each
Empower Personal Dashboard
What does Empower Personal Dashboard charge?+
None of the listed fees apply. The management fee is 0%, the account fee $0, the monthly fee $0 and a stock trade costs $0. The pricing model is commission free and low fees, so the charge does not scale with the size of the holding.
Is the money in my account protected?+
The cash side is covered by FDIC up to USD 250,000, which applies to deposits rather than investments. Anything in the investment account carries market risk, and across the site the share of retail accounts that lose money sits at 70.15%. Keep emergency cash in the deposit account.
Merrill Edge
What does it cost to hold a Merrill Edge account?+
The account fee is $0 and the inactivity fee is $0, so there is no monthly charge for keeping the account open. Costs appear in the products you pick, such as the options fee of $0.65, rather than in the account itself.
Is stock trading really commission free?+
Stock trades carry a fee of $0 and the pricing model is commission-free, so buying shares and ETFs in the usual way adds nothing per trade. Options are charged at $0.65, and the spread you receive can still widen as prices move.
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Empower Personal Dashboard
Merrill Edge