Merrill Guided Investing vs Range: Which Is Better in 2026?
Last updated July 2026
Short answer
Merrill Guided Investing and Range are often compared, but they are built for different jobs. Merrill Guided Investing is hands-off automated investing (robo-advisors) (automates a research-driven model portfolio), best for bank of america customers who want managed portfolios in the same app. Range is hands-off automated investing (robo-advisors) (software layer over human advice), best for high earners with equity compensation, on a flat membership. Neither is universally better: pick Merrill Guided Investing if you want bank of america customers who want managed portfolios in the same app, Range if you want high earners with equity compensation, on a flat membership.
Both Merrill Guided Investing and Range get grouped under “AI investing tools,” which is why people compare them, but they sit in different categories and answer to different needs. Below is a balanced, 2026 look at what each one does, whether it reads the brokerage you already use, how each is priced, and who each fits, so you can tell which job you are actually hiring a tool for. Where relevant, we note where Walnut sits in its own category: chat-driven management of your own broker. Walnut is not an investment adviser.
Merrill Guided Investing vs Range at a glance
| Merrill Guided Investing | Range | |
|---|---|---|
| Category | Hands-off automated investing (robo-advisors) | Hands-off automated investing (robo-advisors) |
| What the AI does | Automates a research-driven model portfolio | Software layer over human advice |
| Connects your broker | No (holds your money at Merrill) | Aggregates accounts for the advice picture |
| Read vs trade | Automated | Advisor-managed where applicable |
| Cost | Percentage of assets, higher with an advisor (verify current) | Flat annual membership by tier (verify current) |
| Best for | Bank of America customers who want managed portfolios in the same app | High earners with equity compensation, on a flat membership |
| One limitation | Priced above the cheapest automated services, and the portfolios lean on Merrill's own research and funds. | Aimed at high household income, so the membership is poor value for a simpler situation. |
Figures and features are point-in-time and change; treat the table as a starting map, not a live quote.
What is Merrill Guided Investing?
Merrill's automated investing service, built on Bank of America research, with an optional tier that adds an advisor.
How it works: A questionnaire sets a goal and risk level, and Merrill invests in model portfolios built by its investment office, rebalancing automatically. A higher-priced tier adds access to a financial advisor. Preferred Rewards status at Bank of America can reduce the fee, which is the main reason existing customers choose it.
In practice, Merrill Guided Investing’s AI automates a research-driven model portfolio. It falls under hands-off automated investing (robo-advisors), which makes it best suited to bank of america customers who want managed portfolios in the same app. On connecting an account it is “No (holds your money at Merrill)”, and on execution it is “Automated”. It is priced as percentage of assets, higher with an advisor (verify current).
One honest limitation: Priced above the cheapest automated services, and the portfolios lean on Merrill's own research and funds.
What is Range?
A flat-fee wealth management membership aimed at high-earning professionals, with equity compensation and tax planning at the centre.
How it works: You pay an annual membership rather than a percentage, and get advisors plus software covering equity compensation, tax planning, retirement projections and estate coordination, with accounts aggregated for a whole picture. The design assumption is a high income and complexity from RSUs or options rather than a large accumulated balance.
In practice, Range’s AI software layer over human advice. It falls under hands-off automated investing (robo-advisors), which makes it best suited to high earners with equity compensation, on a flat membership. On connecting an account it is “Aggregates accounts for the advice picture”, and on execution it is “Advisor-managed where applicable”. It is priced as flat annual membership by tier (verify current).
One honest limitation: Aimed at high household income, so the membership is poor value for a simpler situation.
Merrill Guided Investing vs Range: how they actually differ
The core difference is category. Merrill Guided Investing focuses on bank of america customers who want managed portfolios in the same app (automates a research-driven model portfolio), and Range on high earners with equity compensation, on a flat membership (software layer over human advice). On broker connection they differ too: Merrill Guided Investing is “No (holds your money at Merrill)” versus Range at “Aggregates accounts for the advice picture”. That shapes everything downstream: how personal the answers are, where trades settle, and how much control you keep over individual positions.
Merrill Guided Investing vs Range: strengths and trade-offs
Every tool gives something up for what it does well. Here is the honest give-and-take on each, so you can weigh the specific strengths against the limitations that come with them rather than judging on the headline category alone.
Merrill Guided Investing
Where it is strong
- Integrated with Bank of America, including reward tiers that cut the fee
- Portfolios come from a large in-house research operation rather than a pure algorithm
- An advisor tier is available without moving firms
What to watch out for
- More expensive than the cheapest automated services unless rewards tiers apply
- Portfolios lean on Merrill's own funds and research, which is a narrower opinion than an open comparison
Range
Where it is strong
- Equity compensation is treated as a core problem rather than an afterthought
- Flat membership means the fee does not scale with a balance that may be growing quickly
- Aggregation across accounts, including ones it does not manage
What to watch out for
- Priced for high earners; a straightforward situation does not need this
- Value depends on using the planning, not just holding the membership
The key divider: does it read your real holdings?
For AI investing tools, the distinction that matters most is whether the tool works from your actual, connected positions or reasons from something else: a separate account it manages for you, or the tickers and numbers you feed it. It decides how personal the answers can be, and where your money physically lives.
- Merrill Guided Investing: manages a separate account it holds. Merrill Guided Investing does not read the brokerage you already use. It opens and holds a new account, then invests the money you move into it, so its view is limited to what sits inside Merrill Guided Investing.
- Range: manages a separate account it holds. Range does not read the brokerage you already use. It opens and holds a new account, then invests the money you move into it, so its view is limited to what sits inside Range.
On this specific question the two land on the same side, so the deciding factors between them are elsewhere: category, cost, and who each is built for. This holdings-aware angle is the one Walnut is built around: it connects the brokerage you already use and reasons from your live positions, read-only by default, with any trades left for you to approve.
Merrill Guided Investing vs Range: which should you choose?
There is no universal winner here; the right pick depends on the job you are hiring the tool for. Match the category to your intent rather than chasing a single “best.”
- Choose Merrill Guided Investing if you want bank of america customers who want managed portfolios in the same app. Its AI automates a research-driven model portfolio, it is priced as percentage of assets, higher with an advisor (verify current), and it fits hands-off automated investing (robo-advisors). It is built for an existing Bank of America customer whose rewards tier makes the pricing competitive and who values everything in one app. Keep in mind that priced above the cheapest automated services, and the portfolios lean on merrill's own research and funds.
- Choose Range if you want high earners with equity compensation, on a flat membership. Its AI software layer over human advice, it is priced as flat annual membership by tier (verify current), and it fits hands-off automated investing (robo-advisors). It is built for a high-earning professional with RSUs or options whose complexity comes from compensation rather than from an accumulated portfolio. Keep in mind that aimed at high household income, so the membership is poor value for a simpler situation.
Because both sit in the same category, the choice comes down to the finer details above rather than a fundamental difference in approach.
Merrill Guided Investing vs Range: pricing and cost model
Cost is easy to misread when two tools charge in different shapes, so compare the model, not just the number. Merrill Guided Investing is priced as percentage of assets, higher with an advisor (verify current), while Range is priced as flat annual membership by tier (verify current). A percentage-of-assets fee scales with your balance, a flat subscription does not, and a “free” tier usually earns elsewhere (on cash, order flow, or premium upgrades), so the cheapest headline is not always the cheapest outcome for your situation.
Pricing and tiers change often. Confirm the current numbers on each provider’s own site before you decide; the framing above is point-in-time.
Where Walnut fits
If neither quite fits, Walnut sits in a third category: chat-driven management of your own brokerage. It connects the brokerage you already use through SnapTrade, lets you analyze and manage it by talking through Claude or ChatGPT, build thematic portfolios around a thesis, and place trades you approve. Read-only by default. See Walnut vs Merrill Guided Investing and Walnut vs Range. Walnut is not an investment adviser.
Try Walnut on top of your broker
Walnut is the AI that knows your portfolio: ask anything in plain English, research any fund, and get an honest second opinion. On the broker you already use, read-only, and you approve every trade. Walnut is not a registered investment adviser.
FAQ
Is Merrill Guided Investing or Range better?
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Neither is universally better, because they are built for different jobs. Merrill Guided Investing is hands-off automated investing (robo-advisors) and suits bank of america customers who want managed portfolios in the same app. Range is hands-off automated investing (robo-advisors) and suits high earners with equity compensation, on a flat membership. Pick the one whose job matches what you actually want to do.
What is the difference between Merrill Guided Investing and Range?
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Merrill Guided Investing is hands-off automated investing (robo-advisors): automates a research-driven model portfolio. Range is hands-off automated investing (robo-advisors): software layer over human advice. They solve different jobs, so the better choice depends on whether you want bank of america customers who want managed portfolios in the same app or high earners with equity compensation, on a flat membership.
Is Merrill Guided Investing or Range better for beginners?
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Merrill Guided Investing is generally the more beginner-friendly of the two (bank of america customers who want managed portfolios in the same app). The other is better once you know what you want from it. Neither replaces understanding what you own.
Does Merrill Guided Investing connect to my brokerage?
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Merrill Guided Investing: no (holds your money at merrill) (manages a separate account it holds). Range: aggregates accounts for the advice picture (manages a separate account it holds). If keeping your current broker matters, that distinction is often the deciding factor.
Does Merrill Guided Investing see my real holdings?
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Merrill Guided Investing does not read the brokerage you already use. It opens and holds a new account, then invests the money you move into it, so its view is limited to what sits inside Merrill Guided Investing. By contrast, Range manages a separate account it holds: Range does not read the brokerage you already use. It opens and holds a new account, then invests the money you move into it, so its view is limited to what sits inside Range.
Merrill Guided Investing vs Range: which is cheaper?
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Merrill Guided Investing is priced as percentage of assets, higher with an advisor (verify current); Range is flat annual membership by tier (verify current). The models are not always comparable (a percentage of assets is different from a flat subscription), so weigh cost against the job each does. Pricing and tiers change, so verify the current numbers on each provider's site before deciding.
Can I use Merrill Guided Investing and Range together?
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Often yes, because they do different things. Many investors use one for bank of america customers who want managed portfolios in the same app and the other for high earners with equity compensation, on a flat membership. Just watch for overlapping subscription costs and remember that trades ultimately settle in whatever account actually holds your money.
Who is Merrill Guided Investing best for, and who is Range best for?
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Merrill Guided Investing best fits an existing Bank of America customer whose rewards tier makes the pricing competitive and who values everything in one app. Range best fits a high-earning professional with RSUs or options whose complexity comes from compensation rather than from an accumulated portfolio. If you see yourself in one description more than the other, that is usually the clearer signal than any single feature or price.
What are the main trade-offs between Merrill Guided Investing and Range?
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Merrill Guided Investing's main thing to watch is that more expensive than the cheapest automated services unless rewards tiers apply. Range's is that priced for high earners; a straightforward situation does not need this. Neither is a dealbreaker on its own; the right call is whichever trade-off you can most live with given what you actually want the tool to do.
Where does Walnut fit between Merrill Guided Investing and Range?
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Walnut is a third option in a different category: chat-driven management of the brokerage you already use. It connects your real account, lets you analyze and manage it by talking through Claude or ChatGPT, build thematic portfolios, and place trades you approve. Your login stays with your broker and the connection is read-only by default. Walnut is not an investment adviser.
Related comparisons
Walnut is informational, not investment advice. Competitor features and pricing are point-in-time and change; verify the current details on each provider's site before deciding. Nothing here is a recommendation to use any particular product or security.