It has been a long time since I have dealt with Merrill Lynch but my guess is that the Wealth Management aspect is still full service with commensurate fees. If you are not looking for research, a financial advisor, etc., and you do your own trades, you are better off at Merrill Edge which is a discount operation with several inducements such as cash bonus offers and free trades, if you qualify. If your brokerage commissions exceed $30 per month, you could save a chunk with Interactive Brokers at 1/2 a cent a share.
I too hold varying amounts of preferred stocks but less so now given that interest rates are so low and that there is no interest rate cycle. When there is one, there's a good opportunity to roll from one to another, collecting the yield and catching some capital gains simultaneously, thereby bumping up the return.
Merrill Edge is a discount trading service like scottrade, tdw, etc. Its for those that want to do their own trading.
I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.