That is just the nature of the business. I invested all my savings with him. Can anyone comment and let me know what I am missing? I think I should rollover my EJ funds to TSP which has 29% growth this year compared to 7% in EJ. Id never do business with this firm again. Edward Jones's fees. One year later, I can say that lower fees definitely make a huge difference, especially if the brokerage firm is churning portfolios to generate commissions. Those brokers that put people in B shares because they did not know how to justify their service did a disservice to their customers IMO. Thats very true, and thats why I prefer the commissions than the 2% a year. My big issue with my Edward Jones experience is that I wasnt made aware of any of these fees upfront. And my money goes where Ken Fishers goes. The information on Investor Junkie could be different from what you find when visiting a third-party website. And Edward Jones says that this annual fee does include internal investment expenses. Nice backstop. Press question mark to learn the rest of the keyboard shortcuts. If they dont get you results OK, but Jones seems to outperform in down markets regardless. This site is designed for U.S. residents only. I did it because I liked the guy I met with. How about 2008? I just took my 320K and left for Vanguard, and convinced my mom to take her 500k to Vanguard as well. Its an impossibility. Thats specially true at the cost of 5.75% that I paid upfront. My original advisor took me out of mutual funds that were doing well. If you didnt understand what you were buying, talk to them to get more information. They will work with your CPAs to develop specialize tax plans, your estate attorney to create the legacy that you want for your family, hold your hand through down markets to keep you from making mistakes, knowing and caring for your family, etc. I own a seat at the CME an make my money by getting in an out most every day. There are multiple ways to get in contact with a member of the Edward Jones team. Shouldnt that investment have increased a little bit more? Appreciate it! Online robo advisors such as Betterment, Wealthfront, FutureAdvisor, etc. Press J to jump to the feed. Then wonder why people dont hire their own money managers. Keep in mind, the more you invest in funds with a load fee, the more that 5.75% is worth. Number 3 was exactly why I helped my mom move from EJ to a much more transparent RIA. Check out AOA and AOR. To be fair, not all advisors are equal -even at a firm like EJ. Thank you, Melissa, for your breath of fresh air. I would not recommend using their service to an one. If I was a good investor I would do it all myself and save the headache and cost of hiring a professional. It can get into the weeds a little, but it has good ideas for the common investor. You cant time the markets. Vanguards Total Stock Market index fund has had an annual return of 9.63% since inception in 1993 diversified over 3,800+ stocks with an annual expense ratio of 0.17. The most important person in the relationship is you. Are you up from the begging of this year? Go with Vanguard. This effectively consolidates breakpoints. Ive been with EJ for about 2 years. Thx for the tip on vanguard. I dont know if I would be having meetings with a 20 year old kid to go over their retirement plans and goals. There is a balance between how much we pay for how much we get. Then be specific on which model you want them all to use. So, I moved to a fourth. Aligned. Investments always carry risks and there are no guarantees when investing. Advisory Fee. Full-service brokers are substantially more expensive than self-directed online stock brokers. The quiz questions are well designed, and multiple questions offer the option to enter additional text where appropriate. The rates for these charges vary from 0.15% to 0.40%. edward jones sign in account A Chegg account can cost anywhere from $9.95 to $19.95 a month, depending on the subscription plan chosen. Then I can decide from there to approve or disapprove the suggestion. Ultimately though, consistent investing over a long period of time, like 20 years, will overcome any fees. So happy we got out. Not really. Um you said a good investor knows? Im retired. The average investor looking to set up a regular taxable brokerage account or a college savings account will often find more value elsewhere. Because they either cant custody Vanguard assets (which makes them a crappy custodian) or theyre just in it for the money. Over the life of my investment, I have averaged 7% per year. I came to find out they are a truly evil company. Furthermore, during a tough market like today, active manager have a real opportunity to out performance passive. Guessing you'll find them on those. would you not want to of sold your account into a money market then reinvest 2000 point lower? This buy-and-sell process is one that Edward Jones has been in trouble for in the past. That would be nearly double my original investment. No one can tell what the future holds, so the only thing you can control is cost. That would fluctuate up or down with account balance, but lets assume the balance stays exactly the same. We look at this full service as retirement planning for the long haul and money management for the entire family. The "s" means you're on a secure site. Edwards Jones' customers service hours are 7 AM to PM (CT) on Monday through Friday and 8 AM to 4 PM (CT) on Saturday and Sunday. EJ agents are just insurance salesmen looking to line their own pockets. Thanks for stopping by, Lynne. I was originally with Merrill lynch then I realized I could do better with fund manager in fla had a lot of fidelity funds they were advisor funds did well even with high fees because of advisor loads then he merged with Ameriprise funds thats wher the problem began fees were high but he said if I paid extra half percent I would be regarded as a special account person red flag went up I had been also invested with vanguard for years after this I decided to switch all accounts over to vanguard peanuts for fees I wished I would have done this when I first started to invest yrs ago what people dont seem to realize is up or down markets you still pay the high fees and that really adds up alan b. My $4,000 has $4,000 worth of buying power. When you sit down and have a look at all the ways in which theyre profiting off of your investments, it can feel like a betrayal. Good advice. If you have money (~$500k+) you will probably get good service and the fees will most likely be low to moderate and competitive with other similar companies in the industry. Seems like a lot of money to spend for financial advice especially when very, very few managed funds beat the broad market index over 10 year period. Im informed about investing but dont want to do the work of it and certainly dont have the computer tools that they use for asset allocation, determining how long your money will last, etc. Your broker probably wont point them out to you. find a Financial Advisor on the Wiser Advisor website. More information is available via our links to Wealthfront Advisers. EJ was instructed to transfer in kind only. I thought Id tell you what happened when I transferred my accounts from Edward Jones to Wells Fargo. Over the last 30 years, Ive been with American Express, Salomon Smith Barney, Smith Barney, and for the last 11 years..Edward Jones. But I hadnt done enough research. Two points to this 1. I went with E.J. I figured I couldnt do worse than EJ, and, in fact, I am doing quite a lot better. Thats $3k a year for a Roth acct. Home. Thank you for mentioning that option, which I neglected. Suffice to say theres a reason why EJ is consistently rated as one of the top financial advising firms based on customer satisfaction: http://www.jdpower.com/press-releases/jd-power-2017-us-full-service-investor-satisfaction-study. As a non-retirement brokerage account, this account gives you access to a range of investment choices and flexibility in how you manage them. But say you do NOT know how to fix it. I am sorry to hear that for your neighbor, but good on you for helping out Jane! The reality is that these fees wont prevent us from retiringthe habit of saving money and the power of compound interest will overcome an unnecessary 1% fee. Your hard working husband earned it. (Note that my FA called me in a rage right after I transferred some assets to Schwab.). If so, take a look at their fee structure. Traditional and Roth IRAs at Edward Jones have a annual account fee. I agree with the pharmacist. Dont go wth the managed account! And boy did I learn. And higher fees, over the years, add up to a huge difference. I must have struck a nerve with this one as it is far more read/commented than anything else on this here site haha. 1/5. Therefore, this investment return is derived from the money generated by Edward Jones from account fees and commissions paid when purchasing a mutual fund. Im guessing that your broker has probably never had a conversation with you about expense ratios, among many other things he or she has failed to educate you about. Me, with a financial advisor. Even most people who owned even a quality portfolio of investments who didnt have a proactive reassuring partner in a good advisor began moving money into cash after the majority of the downturn was behind us. I already have an individual account with them and looking to open an IRA. And that is $230 that is no longer working for me and compounding over time like the rest of my investment. Its like a CULT. Again, many thanks. The services offered within this site are available exclusively through our U.S. financial advisors. After using both Web portals, the lack of info available at EJ is obvious they dont want you to get too much info. They have to get paid somehow. My broker was a bit confused, but like I said, hes a nice guy. Made a lot of money with him, he tells you what and when. And bubbles formed for index funds? As Ben Franklin said, The bitterness of poor quality remains long after the sweetness of low price is forgotten. Vanguard fund-its an Sp500 fund which is on auto pilot. For some, a 6% average annual rate of return is sufficient over the long term for others, 8% may be required (unless working longer or spending less is an option they are willing to budge on). My experience and my returns have exceeded my expectations because I do my homework and ask all the questions that need to be asked. 5/5. GO TO VANGUARD MAKE AND KEEP MORE MONEY. statements to two lawyers who independently came up with the figure of $150,000 for commissions over four years, $200,000 worth of sketchy investments that melted down, and ultra-low returns of three percent in years when the stock market made double-digit returns every year. This creates an incentive that results in a material conflict of interest. Many companies model this practice or worse. This is fact not opinion. Ive used Edward Jones for a little over 20 years, and have seen my portfolio grow from an initial contribution of about $22,000 to a little under $2,000,000. etc. Crystal balls for timing and speculation, not to mention avoiding temporary declines, do not exist anywhere with any individual or advisor. The revenue sharing program they have with the mutual fund companys is another conflict of interest to clients. Section 1: How you and your financial advisor work together, Section 3: Our Investment Advisory services, Section 4: Additional financial products and account services, Section 5: Additional information and resources. But keeping my mutual fund in addition to the stock for diversification. The lot relief method (sell order) used in Select accounts is first-in, first-out (FIFO), and our Advisory account types use tax-advantaged lot relief methods intended to minimize the income tax impact of trades. Criticizing the cost of doing business with them relative to other more qualified, less expensive managers is warranted. If one does not understand that temporary, sometimes large, declines will always exist then he/she either needs more education on the topic. Not to add insult to injury, my last part of the EJ saga is almost the worst: my advisor gave my account (worth more than what most people have) to a trainee who doesnt know how to even make trades. Brother. The second part that no one can ever seem to take into consideration when arguing fruitlessly is that any investment account/portfolio/mix/allocation/plan whatever you choose to name it should have one sole purpose: to reach the goals that those human beings have over the long term (ie retiring at age 62, living until 90, spending $5000 per month in todays dollars and increasing that by historic cost of living increases annually not to mention funding some of their kids or grandkids education, addressing potential medical care costs, navigating a dynamic tax environment, understanding the impacts of social security filing strategies, understanding the impact of guaranteed income VS the reliance rate on their investment portfolio to maintain their lifestyle, and so much more). 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