OTHER NEWS - July 10, 1991
From Times Staff and Wire Reports
Merrill Raises Fees for Client Accounts: Merrill Lynch & Co. will charge investors $15 for stock and bond certificates beginning Sept. 6. The brokerage has 7.5 million individual investor accounts. The firm also boosted its annual fee by 25% for its 1.3 million cash management accounts to $100 a year. A spokesman said the $15 fee will cover the costs of issuing certificates to the 2% of clients who request them. Most investors are content to rely on the electronic account statement. The fees on the cash management accounts--which combine a money market fund, check writing and other services--was boosted from $80.
