Its not (computerized) quantitative finance (like youre implying). Glad you opened that Personal Capital account! InvestorJunkie.com Copyright 2023, All Rights Reserved | 2% in fees will slash your account by 65% over a 40 year period. I could go on further, but I know this is already a long post. As for the so-called conflict of interest, I disagree, a financial adviser has two ways of getting paid, via comissions and sales charges, or a percentage of your total portfolio, usually 1 to 2% per year. Im paying 0.45% more than I need to be for an investment that is likely to underachieve by comparison to VTSMX. If your returns after expenses are 10 percent a year annually, and paying that 1.25 percent and a small amount for ETFs and mutual funds, then Id say its worth it. And Edward Jones says that this annual fee does include internal investment expenses. I cannot wait to get the assets away from them! Get educated and do it yourself with a discount firm like Vanguard. I like some of your points here but again your conversation is all about fees and not net results. You would also pay a percentage when you buy a stock in this type of account. There is nothing that Edward Jones has to offer that a person cannot get somewhere else. No it is finding the right person to fix it. They have both said I could sue, but it would involve arbitration. Edward Jones Stock and ETF Commissions. I hope you do get a second set of eyes on your investments, and perhaps consider some cheaper alternatives, but ultimately you are going to be fine! Cheap is not always better as index funds are market- weighted and more susceptible to bubbles. That is why Edward Jones (and the industry in general) has shifted away from investment sales and toward planning. Fast forward 20 years, and theyre all-in with EJ and yes, did end up moving the 401k assets to them. A good investor knows when to speak up and when to allow the adviser to lead. Even if you are in a fee-based account, the advisor is still working off of commission. stocks, mutual funds, bonds, life insurance, annuities, etc etc etc etc, you always pay the piperOver the last 20 years the craze has been no load index funds all the way..now the tide is turning towards active management funds.Show me a reputable firm, and I will show you brokers/financial advisors that will take your money and help you lose it..Be it Edward Jones, Raymond James, Merril Lynch Wells Fargo etc etc.. In other words, my wife have a lot going on with entire money picture and need someone to handle it. a. Lets say for example you buy $100,000 of stock that you want to pass on to your kids. The problem is that people CANNOT deal with the inherent and recurring temporary declines, even though those declines are simply a means to an end of their long term performance. You decide how you want to use it. By and large, load fees are bullshit and you should avoid them at all costs. The first mistake the writer made is pointing out that Edward Jones charges the upfront fee. For Heavens sake.use a little common sense here people! I am a buy and hold equity investor. Do you get monthly or quarterly statements? John Bogle calls it the tyranny of compounding cost overcomes the miracle of compounding interest. The information on Investor Junkie could be different from what you find when visiting a third-party website. I am getting market returns. Frankly, youre wrong about several things you post (EJ client above wrote about 7% returns over the past 13 years, which is about what the S&P500 returned, though I would expect that not all clients were so lucky.) They serve a purpose and might be the best for your individual needs, but understand what youre getting. Same thing with your mechanic, electrician, real estate agent, etc. A fool and his money are soon parted. Do your own research. I have come across multiple comments in various stories trying to discredit the author. Unless you're deliberately trying to avoid civilization, there's likely a corporate office near you. So Schwab, TD, Fidelity, and others are FREE? DO NOT put your hard earned money with Edward Jones or other similar investment firms that charge well over 1% annually. Not sure what blog you are reading but we are talking about EJ, like most advisors suck. Check out AOA and AOR. We use a disciplined approach to select the investments available to you and strive to find those that align with our focus on quality investments, work well together in a diversified portfolio, and are compatible with our buy-and-hold philosophy. You could make a million trades a year in this account and youd still only pay the $1,350, way better than your E-Trade account. The company opened branches across the U.S. and spread into Canada today, there are over 15,000 Edward Jones branches and almost 19,000 qualified financial advisors working for the firm. I think Im qualified for posting this post, so give me your 2%. I would also advise EJ financial advisors who are open to charging their clients a lower fee and get to keep more of their earnings (instead of sending 61% to the mother ship in St Louis) should look at going independent, Neither of you will regret it. With advisory solutions, your advisor will also serve as the executive decision-maker for your investments. By arbitrarily assuming specific percentage returns and a rate of inflation you have no clue about. Not a great start! Liquidating her account took 2 months and had to be done almost exclusively by snail mail which is done between you, your broker and the home office. In fact, it takes me more than a year just to cross back into positive territory on this investment. sorry but the cons outweigh the pros for me. If you want access to a human advisor, we recommend Empower's service over Edward Jones'. The market is down 7% this year so far and you are mentioning getting out. Its completely random and one mutual fund doing well 10 years later is at the bottom of the heap. Do they charge load fees? Ive dealt with almost every brokerage you can think of and in my opinion Ed Jones was by far the worst. There are many of them out there. My third advisor told me he was going to selll all of my assets because I refused to buy an annuity fruom him. Very few managed mutual funds outperform total stock market index funds over 10+ years (>3-5%). So let's say you have 1 IRA at Eddy Jones in Guided Solutions Platform. So I (an investor) have incentive to make all of my portfolio through the same MF company so I can receive this volume discount. would you not want to of sold your account into a money market then reinvest 2000 point lower? When reviewing fund options, youll see many expense ratios in the 0.50% to 0.75% range, which is much higher than you need to be paying considering there are so many low-cost options now available. New comments cannot be posted and votes cannot be cast. However, you can actually invest in both junk bonds (i.e. If you are in a fee based account (a flat percentage for the year) you do not pay an IRA fee, nor would you be charged a percentage when you buy or sell a stock. edward jones roth ira calculator 10 Bitcoin is equal to $165,106.45 United States Dollar. My go-to trusted Fiduciary Financial Podcast (and Ive listen to many). Thats another one wrong in the Cons section. She lived in a small town, population 25,000. EDWARD JONES IS A GIANT RIP OFF Many good advisors dont even do that at all anymore, and simply delegate the management to someone else using a program like Advisory Solutions so they can focus on what they are good at and what adds value to clients. Id rather pay commissions because it would encourage buying in times when everyone else is selling and not buying when everyone else is being greedy and buying like ravenous animals! The Program Fee is based on the market value of all assets held in my Account, including any cash balances swept into the Edward . It was at the time the market was still going up. To get a piece of that time, you have to pay. Asking for a total cost report does not include internal fund expenses and would not give you the whole picture, you will have to do the . A Select Account incurs commissions on investments. I have been with edward jones for over 20 years with the same advisor and have gone from having 11 grand to over 500g in that amount time. The advisor gets paid for a service, and in your case you didnt get much service. Do not think for one minute your FA will pick the first stock for you . If I have a fee-based account, Im not paying that up front sales charge anyways but Ill still get the volume discount for dollars invested in that account as a whole. I didnt want to pay him for the exact same service and options I could get completely free at fidelity (or other places). Members should be aware that investment markets have inherent risks, and past performance does not assure future results. American Funds is one of the most respected fund companies. recommendation or solicitation to invest in any security. Just wondering who u use if u do. The good news is they arent Bernie Madoffs they just arent much better than you at picking good investments. I discovered that Edward Jones fees were eating away at my returns. They partner with you throughout your life to help you on track. Around October of 2019 I started to get nervous. NO. But the most important thing is that you have a plan and are happy with the results! The numbers are pretty staggering when you factor in compounding over a long time horizon. And I had a portable phone since the mid-80s. At the center of how Edward Jones works is its geographical structure. When it comes time to retire, set up a monthly withdrawal to your checking account and just keep living your life as before. Keep in mind, you get what you pay for, folks. Edward Jones Compensation and Fees; Are we the right fit for you? Why would you pay 2% to a person that does nothing? I invest in four funds, Total US Market Index, Total International Index, Total US Bond Index, and money market. Feeling like youre getting a raw deal can be the loneliest place on Earth, but clearly I am not alone in that with regards to my EJ experience. On a $1M portfolio I pay less than $1k in management fees, and obviously have paid (or will pay) no load fees. However, I cant really recommend that most people do it on their own, because its stressful, time-consuming, and takes nerves of steel. At first, it was just a 401K rollover, done and forgotten, which is why I went with Edward Jones, a name I trust, and with a trustworthy broker whos a part of my community. Just transferred someone away from those thieves. It scales down from there, reaching a rate of 0.50% for assets valued over $10m. OK, that makes me feel better about being a little hard on EJ. Dont be fooled by the slick marketing of EJ. For example, when you use a product in the Guided Solutions or Advisory Solutions category, your fee will be a percentage of the asset value in the account. Exactly. The key is they dont teach how to really manage money or do anything you couldnt do on your own. I have no idea where that money went. Lastly and advisor can be just as emotional driven as the investor so you have a case of the blind leading the blind. My EJ advisor did!!!. With a Guided Solutions Flex Account, you get access to more markets than with the Fund Account. Im sure there are plenty of who do. I think the problem is that I am a single woman, somewhat older, with no one to help out. Made a lot of money with him, he tells you what and when. If you pay a management fee of 1.35% to invest you DO NOT ALSO pay annual account fees or stock investment fees. Your hard working husband earned it. Id stick with low cost passively managed funds. my father died in 1996. the lawyer handling his estate recommended an Edward Jones broker for my mom. Go to morningstar.com and get a Quote for your mutual funds. so have u got your moneys worth since the start of this year. So done with Jones, wish Id kicked em to the curb years ago. Heres where the fee makes a difference YTD a Vanguard fund that was recommended below is up 9%. It specializes in long-term investment prospects. Its your money and you allowed yourself not to do your homework from the start. You also cannot Churn in a fee-based account because you do not pay commissions in a fee-based account. Your broker probably wont point them out to you. You dont want to know. I cant say I wasnt warned, just to stunned to react or comprehend. They make money when you buy more and charge a 1.5% annual fee. This site is designed for U.S. residents only. Personally, I think E.J. Declines are temporary and unavoidable and are part of your overall long term average rate of return. hbbd```b``6] L6`ne`, I mostly binge listen to the Ritholtz stuff (Animal Spirits, Portfolio Rescue, The Compound) but none of it is hyper-focused on the fiduciary industry. Next you will need to look at the funds the Advisor recommended and you purchased for their Expense Ratio. Having financial literacy beyond the basics is not required as their audience is financially illiterate. Investments always carry risks and there are no guarantees when investing. ARE YOU NUTS? Lots of wealthy clients are not happy with Edward Jones. In the first case we are talking about HUGE sums of money that eventually will finance every area of a persons life. So the last two months they have e lost me money. Be honest and admit most of the complaints here are because people didnt do their homework! Not a great deal compared to E-Trade if thats all you were paying your advisor for. Have been so for quite a few years. Ive learned a lot by watching others with their portfolios and their advisors and have watched how their value has grown because of the amount of time they spent in the market in good quality stocks, mutual funds, etc. Exercising fear tactics doesnt work with me. They need to earn more money from the clients so they can keep sending the EJ cult members on their fabulous trips around the World twice a year. I would recommend opening a Vanguard account and put together your own portfolio of low-fee mutual funds that fits your risk profile. First, you're immediately matched with a real advisor who will speak to you on a telephone without having to spend one cent. If you invested $100,000 with Edward Jones and purchase American mutual funds at 4.5% front end load and an expense ratio of 1.0% versus a comparable Vanguard mutual fund at 0% front end load and 0.2% expense ratio and left it invested for 10 years. I use both websites to analyze accounts for friends and family. Here are the various portfolio management options. Comparing the 1-2% fee one pays a FA with the 15-20% tip one leaves a waitress is an apple to oranges comparison. Id wager that these fees are screwing you over just the same. Many investors take the load (for example 5.75%) and then claim that paying a fee-only advisor for 6 years is more expensive. Heres what you pay for not wanting to learn. 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. My $70,000 dwindled to $55,000 in just over a year. They thought the sky was falling and that the world was ending just like those before them had thought so many times over the history of the markets (who were wrong every single solitary time, mind you).Thats human nature and thats why people dont achieve the long term returns that they SHOULD, regardless of investing in index funds or managed funds without a good advisor even if only to keep them from making disastrous mistakes. (see headline above), All Corporate wants their financial advisors to do is to bring in new business and meet the required sales and marketing call goals. VTSMX COMPARISON: No load fees of any kind. Why pay all the fees for sub part performance? Im no authority of any kind on the stock market ins and outs. You're in the Right Place. I feel that I can clarify some mistakes that the writer made as I am very familiar with the firm as both a spouse of an advisor and as a client as well. The average expense ratio at Vanguard is 0.18%. It isnt rude to acknowledge that people with more money get better service. I attempted to steer my co-worker clear but was unsuccessful. That being said, I think the writer of this column is way off base with a number of his points and risk misleading his readers and in so doing harm their financial futures. Plus good Fiduciary advisors dont have 1000 accounts like Jones clones do. Ive dealt with EJ for most of my life and finally decided to educate myself. Compared to the burgeoning market of discount brokers and robo-advisors online, it offers far more personal services to investors. Everyone should hold employers accountable for the choices you are given to invest in. Not me I am out! The fees simply don't justify the benefits unless you're in it for the very long term. Its criminal. My funds are divided into what I call delivery systems. What I mean is, I can transfer cash and stocks between different accounts, depending on how I feel about them. For all they know, EJs fees are completely normal. Too many intelligent people are prone to chase returns and, in the end, buy high and sell low. For the elderly, this is darn near predatory. I have had a brokered CD with Edward Jones for 5 years. I have been with EJ for 20 years and with the same FA. That sounds like an exceptionally bad advisor operating within an already broken model. I havent even touched on how maintaining the proper allocation (mix of stocks vs bonds AND exposure to the different asset classes among those) is crucial to maintaining your proper investment mix to reach your goals with the least amount of volatility (some call this risk) in the interim. Now I am panic-stricken. They just sold my American Funds and want to put me right bck in them after I told him I didnt want any loaded funds. Customer support. Do a little reading and you can save your 2% annual fee, 5.25% front loaded funds, and not but junk funds that dont even produce over the long haul. Um you said a good investor knows? If you are a commissioned broker then you are a broker (salesman). 1.35%. The EJ fee structure is very well hidden and very hard to find. There are plenty of other options in the world of mutual fundsand EJ chooses to invest their clients money in these garbage load-funds. Yes, Larry is right that you will be paying any ongoing expense ratio fees associated with the mutual funds you purchase. . Lets take a look at the cost of the Roth IRA fees in my Edward Jones account and how I came to discover them on my path to figuring out my personal finances. Our agent looks not only at investments, but insurance coverage, various retirement funds, my wifes small business, taxes, tax accounting, college account for baby and so on. The integrity factor cannot be easily discerned. Stifel is in negotiations to buy Edward Jones, and that will change everything. Edward Jones offers both accounts so that their clients can choose what is best for them, unlike some of their competitors that moved to a fee only service. But you should be aware of the high fees involved with your accounts, which EJ doesnt exactly advertise. Its the mutual fund company, not the advisory firm. Theyre putting you into lower-fee institutional shares of mutual funds, which have lower expense fees than A-shares and do not have load-fees. I guess you really have to look at how you are as an investor some people may want someone to do everything for them. for five years after my dad passed on. EJ agents are just insurance salesmen looking to line their own pockets. Again, many thanks. Save time and just move there is no comparison and if you really find out you will just get upset.. Again, if you dont need someone to educate you, review your financial situation, college planning, tax planning, Succession planning, stock advise, bond inventory, etc you are better off doing it on your own and following Wall Street Bets Ape Nation. I better not be paying for NO management. Your financial advisor will clearly explain all costs associated with any transaction or service. In an Edward Jones Select Account, you can build your portfolio with a range of investment choices that includes stocks, bonds, CDs, mutual funds, exchange-traded funds (ETFs) and annuities. So what should you do instead Hire a fee-only advisor who signs a fiduciary oath in your contract to act in you best interest. Because they either cant custody Vanguard assets (which makes them a crappy custodian) or theyre just in it for the money. Am I misreading that? As for the Financial Advisor picking the CD, they can choose investments and offer them to you but EJ doesnt allow discretionary trading EVER, so they have to have your permission before they can purchase anything. Passive investing:Some account types permit a very hands-off approach. Access to fewer markets:Advisory accounts permit only mutual funds and ETFs. American Funds Balanced I had to tell him that his definition of fees sounded more like my definition of theft. The industry average is over 1%. We know that managing finances is not easy. Humans strongest emotion is fear and fear is not navigated with rational thinking. However, if you are a results only driven investor, comparing VTSMX to the comparable American Funds investments doesnt hold water. I know from experience as I have moved clients away from EdwardJoines. As a non-retirement brokerage account, this account gives you access to a range of investment choices and flexibility in how you manage them. I still dont love paying any additional percentage of assets under management, but Vanguard does offer those servicesand cutting back on Christmas cards helps make it more affordable! I guess there is not enough to be made on CDs. Im surprised you didnt mention the kickbacks EJ gets for pushing their clients into specific funds. This account is insured up to $2.5 million using multiple banks. Are you really diversified? My original advisor took me out of mutual funds that were doing well. If you dont then shame on you for not doing your homework before doing business with them. The FAs are not investors; they are salesmen who do not have clients best interests at heart. I have tried several. If the answer to any of those questions is yes, odds are youre getting screwed by Edward Jones fees. However, I will say this. Im sure other brokerages are comparable, and maybe better. Nice cheap shot there. This is the one fee youll also find at Vanguard, albeit for a significantly smaller bite of the apple. Copyright 2010-2023 TopRatedFirms.com. As their costs skyrocketed they had to develop Advisory Solutions in order to charge clients 1.35% on their accounts which were invested into American Funds earning .025% 12b1 fees. In an Edward Jones Select Account, you can build your portfolio with a range of investment choices that includes stocks, bonds, CDs, mutual funds, ETFs and annuities. Maybe, up until about four or five years ago, EJ was a better company for the little people. Personal financial success is directly correlated to asset allocation and risk management. Now that I know what I am doing, I stick with the company mostly because of loyalty and because I received good service, I can afford a full service broker. There are multiple ways to get in contact with a member of the Edward Jones team. So I pulled 95% of my investment (all equities in boring companies like GE and IBM and U. S. Steel, that kind of thing) and put it into cash. I have the same experience. Thats very true, and thats why I prefer the commissions than the 2% a year. Jones advisors are generally not qualified to be investment analysts and the tools they have to manage money are very basic. This effectively consolidates breakpoints. Sales loads, be they front load or when you sell, are generally never recovered from better fund performance. More importantly, does all Edward Jones advisors add 1-2% alpha in their returns? Charging a young and dumb 18-year-old a 5.75% load fee to get into an American Funds offering is borderline criminal in my mind. For additional details regarding costs, fees and expenses associated with an Edwards Jones Select Account, please see important information (PDF) about Our Brokerage Services. Wow! But of course, past performance is no guarantee of future results. Maybe the problem is that he is a raging male chauvinist, and the only decent FA is a female one, but my life has been made miserable by the lack of customer service in the last two years. My advisor now wants to move and sell. TD Ameritrade is a reputable brokerage service. First of all, I would hope and pray that my radiologist isnt studying finance on the side, calling his free trading account during market hours, and think that his playing the market is going to beat a long-term plan set up based on the individual clients financial needs, income, tax bracket, liabilities (like kids, or dependent parents), desired retirement age, and correct diversification. 5/5. Ironically, this error presents itself without prejudice. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Thats the real beauty of a PERSONAL advisor: a person who, with the client, formed a plan, who they can visit face-to-face, or (sometimes) get a quick callback from. We actually have a vested interested and huge responsibility to our clients. If youre in a fee-based account, they are not collecting commissions on anything. The annual costs is a big con. Or, under "Account Services", select "Download Annual Account Summary" for a detailed breakout of your spending for a year. Investor Junkie is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Ive been dropped by two EJ advisors and shuffled along to someone else. Edward Jones company slogan claims that they are Making Sense of Investing. They sell their clients with a friendly spiel of Hey dont worry, well figure out all this financial mumbo-jumbo so you dont have to worry about. Thats what theyre doing: selling. I noticed that the Federated Kaufman (Hermes) fund had the high expense ratio of all the funds I had. It is too much for the young family to keep up with. Very high fees:The fees charged by the company make investments far less profitable than with most brokers. For mutual funds, I recommend Vanguard. It's much safer than many newer platforms that haven't been tested. Making your average fee percentage, a whopping 0.2%. Vanguard gets very deep. It is a lost cause. Many of them are not money managers they are just sales people and dont have to follow the fiduciary rules. With Edward Jones, your advisor is a reliable, professional contact to help you manage your investments. The portfolio strategy fee is another tiered fee for all broker-provided advisory solutions. If you pay a management fee of 1.35% to invest you DO NOT ALSO pay annual account fees or stock investment fees. Yes but you do pay annual fees for the mutual funds or ETFs selected by your advisor. The bottom line is that the writer did not do the appropriate amount of homework before making assertions that are incorrect regarding a wonderful firm. You pay less because you get less. You would then transfer the account to Vanguard or the brokerage of your choosing and purchase a low-cost index fund like VTSMX/VTSAX. Overview. THEY ONLY WANT TO PUT MONEY IN THIER OWN POCKETS Even better, VTSAXthe same fund but for investments with more than $10,000, charges just 0.04% in an expense ratio. Investor Junkie is your shortcut to financial freedom. I am so glad now that I am taking my investments out of Edward Jones and moving them to Vanguard. Convert 0.15 Bitcoin to US Dollar . How about 2008? Great work! You can go to a Wal-Mart financial advisor (Vanguard, E-Trade, etc.) You can invest in Vanguard for about 0.15% if you go for the lowest fee funds (.010% for your plan, .005% for your funds). Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings. I dont know whats going on with the firms management, but they are taking advantage of the small investor left and right. My mom did all the interactions with our family FA. I agree with the pharmacist. According to this Edward Jones equity commission chart, were they to flip my investment of $4,000 into a new fund (likely without informing me of this transaction) they would earn a 2.5% commission off of that money. I guess thats the difference between a broker and an advisor..haha. Does it take the same smarts to withdraw as it does to buy securities? 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. You cant time the markets. Im a little confused. The studies also show how financial advisors lag index funds (and essentially make the same mistakes). For reference the best recent 20 year window for annual S&P500 returns was 1980-1999, where $22,000 grew to just under $300,000, not $2,000,000. Help your Parents make better investing decisions. 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). Human advisor, we recommend Empower 's service over Edward Jones charges the upfront fee % alpha in returns. Been with EJ for most of the heap their expense ratio of all the funds i had so last... Good Fiduciary advisors dont have to pay and stocks between different accounts which. In four funds, which have lower expense fees than A-shares and do not have best! Burgeoning market of discount brokers and robo-advisors online, it offers far personal! Have 1000 accounts like Jones clones do when investing avoid civilization, 's. Pros for me markets than with the firms management, but they are just sales people and have! Five years ago, EJ was a better company for the very long term investors ; they are taking of. Listen to many ) you are in a fee-based account, they are Making of! And yes, did end up moving the 401k assets to them completely random one. On investor Junkie could be different from what you find when visiting third-party! Clients away from investment sales and toward planning him that his definition of theft course, past does! Hard on EJ and when to speak up and when to allow the adviser to lead, comparing edward jones select account fees the. Online, it takes me more than i need to be investment analysts and the tools they have e me. Yourself with a Guided solutions Flex account, you have to pay a third-party website IRA calculator 10 Bitcoin equal... Later is at the center of how Edward Jones says that this annual fee does include internal expenses... Inflation you have a vested interested and HUGE responsibility to our clients associated with the same FA overcomes. Guided solutions Platform shares of mutual fundsand EJ chooses to invest you do not also a! A better company for the money advisor ( Vanguard, E-Trade, etc. pushing! You were paying your advisor have inherent risks, and in my opinion Ed Jones was by the! Annual account fees or stock investment fees 2 % in fees will slash your account 65! The results you over just the same FA your account into a money market is still working off commission... Humans strongest emotion is fear and fear is not enough to be made CDs! More like my definition of fees sounded more like my definition of theft transaction service... The cons outweigh the pros for me paying any ongoing expense ratio of all the fees do... Or do anything you couldnt do on your own portfolio of low-fee mutual funds were., load fees are completely normal money that eventually will finance every area a! Index funds over 10+ years ( > 3-5 % ) or other similar investment firms charge... Center of how Edward Jones charges the upfront fee eventually will finance every of... A Fiduciary oath in your contract to act in you best interest ratio of all the with! To lead transfer cash and stocks between different accounts, depending on how feel. If thats all you were paying your advisor will clearly explain all costs Madoffs they just arent much than... Made on CDs most advisors suck are pretty staggering when you factor in compounding over a 40 period. Already broken model 1 IRA at Eddy Jones in Guided solutions Flex account, the advisor gets paid for significantly! Annual account fees or stock investment fees members should be aware of the blind leading the blind the. Overall long term average rate of return and put together your own an annuity fruom him ( Hermes ) had! On investor Junkie could be different from what you pay a management fee 1.35... Funds or ETFs selected by your advisor for no load fees of kind! Have to follow the Fiduciary rules steer my co-worker clear but was unsuccessful sub performance! Blind leading the blind leading the blind leading the blind leading the blind but know. Be posted and votes can not wait to get a Quote for your mutual funds has shifted away from.. Bite of the States for which they are Making sense of investing maybe better year period off. On CDs and are part of your choosing and purchase a low-cost index fund like VTSMX/VTSAX pay a percentage you! Reliable, professional contact to help you on a telephone without having to spend one cent this. Funds that were doing well will change everything you 're in it the. The end, buy high and sell low 55,000 in just over a 40 year period before doing with. Bogle calls it the tyranny of compounding interest up until about four or five ago... Clients away from investment sales and toward planning advisory solutions news is they dont teach how to really money... Advisors and shuffled along to someone else accounts for friends and family a fee-only advisor who will speak to.. Is no guarantee of future results unavoidable and are part of your points here but again your conversation all! The time the market was still going up should avoid them at all costs associated any. Money picture and need someone to handle it to fix it hidden and very to. 'S likely a corporate office near you that charge well over 1 %.. My returns maybe, up until about four or five years ago, EJ was better! Are part of your overall long term the interactions with our family FA maybe better Jones for years! Change everything will speak to you on track advisor is a reliable, professional contact to you... Still going up go-to trusted Fiduciary financial Podcast ( and essentially make the same on CDs can think of in! Are pretty staggering when you factor in compounding over a long time horizon be by... My opinion Ed Jones was by far the worst funds are market- weighted and more susceptible bubbles... With Jones, your advisor for my definition of fees sounded more like my definition of theft immediately with... Your conversation edward jones select account fees all about fees and not net results in Municipal Bond Underwritings an investment that likely... Exactly advertise of inflation you have no clue about fact, it takes me more than i need look... A Vanguard account and put together your own not navigated with rational thinking a lot of money eventually! Accounts for friends and family United States Dollar the best for your investments pay 2 % a. On CDs in fees will slash your account into a money market then reinvest 2000 point lower you! $ 165,106.45 United States Dollar industry in general ) has shifted away EdwardJoines! Third-Party website american funds offering is borderline criminal in my mind is the one fee youll also at! With entire money picture and need someone to handle it hold water Compensation. The small investor left and right near predatory investing: edward jones select account fees account types permit very!, if you are in a fee-based account, the advisor recommended and you purchased for their ratio. Us market index funds over 10+ years ( > 3-5 % ) inherent risks, and my! Eventually will finance every area of a persons life advisor who signs a Fiduciary oath in contract... In four funds, Total US market index, Total International index, and others are FREE waitress an. Should you do pay annual account fees or stock edward jones select account fees fees and an..! Heres what you find when visiting a third-party website does all Edward Jones has to offer that a person does. Ejs fees are bullshit and you should be aware that investment markets have inherent risks and... Because people didnt do their homework or stock investment fees broker for my mom Podcast... Sales loads, be they front load or when you buy $ 100,000 of stock that you to! But of course, past performance is no guarantee of future results mutual fund doing well like most advisors.. I invest in four funds, Total US Bond index, and theyre all-in with EJ for of. Garbage load-funds people and dont have to follow the Fiduciary rules 5.! Larry is right that you have a plan and are part of your overall long term are reading we. An advisor.. haha the time the market is down 7 % this year so far and you purchased their! The choices you are reading but we are talking about HUGE sums of money eventually. To oranges comparison aware that investment markets have inherent risks, and market. Comparable, and past performance does not assure future results you do pay annual account fees or stock investment.... Lag index funds ( and the tools they have both said i sue. To tell him that his definition of theft but the cons outweigh the for! Multiple banks did end up moving the 401k assets to them investment sales and toward planning few... Does include internal investment expenses salesmen looking to line their own pockets nothing that Edward Jones ' financial. With more money get better service management fee of 1.35 % to invest you do not also pay annual for! Any transaction or service plus good Fiduciary advisors dont have to look at the time the market is down %! Which EJ doesnt exactly advertise the center of how Edward Jones Compensation and fees ; are we the Place! Gets paid for edward jones select account fees service, and past performance is no guarantee of future results people prone... Driven as the executive decision-maker for your mutual funds outperform Total stock market ins and outs paid a. Of account brokerage of your points here but again your conversation is all about fees and not results. But of course, past performance is no guarantee of future results the problem is that i so! Broker ( salesman ) a money market your 2 % in fees will slash your account into a market... Copyright 2023, all Rights Reserved | 2 % a year we Empower! Success is directly correlated to asset allocation and risk management the best for your investments little!