edward jones select account fees

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. An investor can easily make a 2% per year (or much more) mistake by not being in the proper investments at all times. Press question mark to learn the rest of the keyboard shortcuts. Get the facts, you are kind of missing an important point. Long story short, this co-workers husband knew an upperclassman in college who came back to visit after graduation and getting a job at EJ and got their entire social circle to sign up with them. The agent checks in, because he has set a to do in his computer system to call clients quarterly. Hands-on. is sort of fraudulent because their clients probably arent aware of the low returns and high fees. 1 month history? Did your advisor tell you to take a step back this week and get more conservative? Comparing the 1-2% fee one pays a FA with the 15-20% tip one leaves a waitress is an apple to oranges comparison. Edward Jones was good for me until my representative retired then I found out what it was like to have a person (the replacement) who was looking out for themself and not me. The market has started to go down n im sure we both would of lost much more. My broker was a bit confused, but like I said, hes a nice guy. But personally, I do consider it a huge blemish on my own personal finance path, and wanted to shed some light on why I felt that way. 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. I cannot wait to get the assets away from them! Hey Genethank you for your service! Im paying 0.45% more than I need to be for an investment that is likely to underachieve by comparison to VTSMX. The advisor/firm was earning a trailer on the Commission based mutual fund in addition to the account wrap fee. Joe, your investment style may work for you but Tom is right in general (though there are cheaper ways to manage a buy and hold investment than EJ.) Obviously, everyone needs are different, and getting screwed for one person may be a consensual relationship for another. 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. She was a pretty good FA, eager to help us and not terribly pushy about selling products. The FAs are not investors; they are salesmen who do not have clients best interests at heart. Worst case, your account is not only underperforming the S&P 500, but also being charged for any or all of the above-mentioned fees. (they will just quote Edward Jones research, which you could do on your own). 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. 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 am an 85 year old Air Force veteran. MemberSIPC. Id make a lot more money selling annuities to old people but my parents raised me with a conscience. U got to be joking. Hopefully they will be better. Personal financial success is directly correlated to asset allocation and risk management. 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. So at that point dont pay them for that, just buy 5 Vanguard, Schwab or Fidelity index funds (Large cap, mid cap, small cap, international, and bond) A good fiduciary fee advisor works at looking for these top notch investments and doesnt just throw you in a all the same fund company model and go looking for his next victim like many Jones brokers do. So I (an investor) have incentive to make all of my portfolio through the same MF company so I can receive this volume discount. Buddy, I hate to tell you this but your mother-in-law was not paying 2% at Edward Jones. No matter what your returns are you are losing 2% every year plus any expenses if you are invested in mutual funds and efts. (You have to weather the market downturns without flinching.). World diversification. Wow thank you for the detailed response. He refused. Lower Exp ratio and lowest cost of ownership over time compared to B and C shares. 1. What are the expense ratios on those funds? I favor Schwab. This thread has me very concerned and I hope I did not make a mistake by switching to EJ. Take the word of a company that has been brought up multiple times in the comments section: Vanguard. Not to you. You might discover, as I did, that youre getting screwed by Edward Jones fees and their brokerage service as a whole. Just transferred IRA from Edward Jones to Vanguard and of course Jones slapped me with a $135.00 fee. the broker wanted to sell ALL her assets and have her buy load funds with 6% front end loads. You arent going to do business with a successful financial advisor who is good at what they do for free, or cheap. edward jones roth ira calculator 10 Bitcoin is equal to $165,106.45 United States Dollar. I know from experience as I have moved clients away from EdwardJoines. Unfortunately, our EJ advisor lives a few houses down from my mom and our kids are in school together.But several hundred thousand in thirty years? Either the market is up and you make less than you should or the market is down and you lose more than you should. 1/5. Edward Jones Money Market Fund Investment Shares/Edward Jones Tax-Free Money Market Fund, $3 per month if average monthly balance falls below $2,500, Edward Jones Money Market Fund Retirement Shares (does not apply to ERISA qualified plan account, $3 per month if average monthly balance falls below $1,500, Reorder for 25 business wallet-style checks, Cash Interest Account (check and debit card use not available, Estates Service Fee (charged for the re-registration of assets, Systematic purchase/sale/exchange of mutual funds, Request for physical certificate issuance, if eligible, Transfer out (waived if Edward Jones remains the broker-dealer of the receiving account), Estates service fee (charged for the re-registration of assets), Total transfer or termination of an account, Edward Jones Money Market Fund Investment Share, Edward Jones Money Market Fund Retirement Share, Minimum $50 per calendar year per position held in the account. It by FAR outperformed the rest of my funds and that is with the much higher expense ratio. Your best advice is free. You get paid by Edward Jones, so you are going to defend him. Trying to get Ed Jones to reveal his holdings (a great secret) to the Estate has still not happened. I was always aware of the fees, and knew they were high compared to other investment brokers and services. I think you can get by with 3-5 index funds and not pay a financial adviser. Ask your broker or advisor to show you the exact portfolio they will be using for you and if all or most of the funds have the same name.RUN. I recently asked him to sell an asset. My advice: Vanguard low-fee mutual funds. Over the life of my investment, I have averaged 7% per year. Let's examine the competition. Contact an Edward Jones financial advisor today. 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. With Vanguard and Fidelity (disclosure: my family and I have accounts at both) there is little reason the remain at a full service brokerage. For some reason, the problems at EJ seem much more acute lately. If one is never going to tell u when to move you money out then you are not getting you moneys worth. All of their FAs flout SEC and FINRA regulations, big time. The following document explains how we are compensated and discusses potential conflicts of interest. And boy did I learn. 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. 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. Edward jones Advisory Fund is by far the worst investment I have Down almost 6% over the last year. Nice backstop. Advice from TRUSTED friends or TRUSTED business associates can be of utmost importance in the selection of a financial advisor. Their business model is going away. Read important information about fees and other charges that may apply to your account. Actively managed funds very rarely outperform the stock market as a whole. If someone is paying you $10,000 per year in consulting fees, and another person is paying you $10 per year in consulting fees, who are you going to serve better? Over time, the number is 100%. Its easy to enjoy robo-advisers and low cost indexed ETFs when the market has been on a record bull run. Additional fees and expenses may apply, Systematic purchase/sale/exchange of mutual fund. I am happy to set it on autopilot with a low-cost index fund, as you mention. Its not greedy to want to reap the full benefit of your hard earned savings. This is what advisors call reverse-churning. Have you ever read your prospectus and I am 100% sure that you received this and every year since you owned your fund. Having financial literacy beyond the basics is not required as their audience is financially illiterate. Diversification with a Board of professional financial brokers and advisors with EJ may not pay you back all of your 100% profit you would make doing this on your own. Most of the rich understand that value of leaning on a professional for advice in their specialization. Established company:Edward Jones has been trading for 100 years. To help smooth out the awkwardness you might feel in switching brokers, theyll get you one more time on the way out the door with a $95 total transfer of an account fee. But thats a fee that youre gonna eat no matter how you own the mutual fund as its a fee taken directly out of the fund. When you first sign up for Edward Jones, you take a quiz to help match you with an advisor and determine your investing goals. I have been with EJ for 20 years and with the same FA. $25K-49K 5% Transaction Fees: $0 for online stock, ETF, and option trades (+$0.65 per contract fee . After college, I finally had an extremely modest income coming in. It offers stocks, ETFs, mutual funds, bonds, fixed-income investments and unit investment trusts. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. A few studies have shown a 2% annual fee can eat up to 70% of your annual returns over 50 year period. There is a huge difference. And remember the part in this article about churning? Vanguard is fine if you wanna go cheap (low cost average returns) but you still pay commissions the last time I checked with them. 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. After four long years in which I got moved from one advisor to another (usually after refusing to buy something they wanted to sell me), I ended up with a trainee. Appreciate it! they prey on desperate people. Guessing you'll find them on those. The commission on those stocks was approx $6,000 at the time of purchase and trading activity has been limited since then. That person, because they are likely more skilled and definitely more ethical, finds you funds that charge .05% TOTAL. What do you need? This is certainly the case with Edward Jones, which has a number of fees. Id way rather pay a guy 1.25% if my money makes 76.9% in one year. Vanguard offers the lowest expense ratios of the major investment firms that I have found (0.19% vs1.08% industry averages). Your giving away your money when. Its available brokerage accounts include: Whatever type of account you choose, you decide whether you want to manage investment decisions yourself or let your advisor take care of it. Trust, Investment Advisory & Trusteed IRA Accounts. your total cost would be 1.35 plus Fund Expense Ratio (They usually average about .6%) so 1.35 + .61 = 1.96% plus the 40 annual fee. I have dealt with both. The commission varies depending on the type of asset that you buy. As a more traditional brokerage, Edward Jones charges comparatively high fees on trading and account management. The studies also show how financial advisors lag index funds (and essentially make the same mistakes). But when you again factor in the money that $40 each year would have earned and compounded over that span, the number keeps growing. I am impatient and my FA is holding the reigns (sp). Collecting a fee for management and then not doing anything. He is a CPA also ..and was a broker since the 1980s and has been through all of these cycles. I dont think its the most optimal place to invest, and I do think some Edward Jones advisors prey on ignorance (that you dont want to know comment makes me cringe, but I would certainly not put off your retirement! And Edward Jones says that this annual fee does include internal investment expenses. That just seems very high considering each acct is about $125k. Just dont check your account statement, or youll discover that its actually gone X% down in the time that youve owned it. The questionnaire goes out of its way to help you put personal concerns front and center. These depend on the type of account you choose. What Edward Jones is doing is arguably criminal. The fees at Edward Jones are based on the deposit amount and decrease the more that's deposited. This is fact not opinion. your total cost would be 1.35 plus Fund Expense Ratio (They usually average about .6%) so 1.35 + .61 = 1.96% plus the 40 annual fee. You would also pay a percentage when you buy a stock in this type of account. My investing knowledge and funds were both limited, but it still didnt quite add up. That would be nearly double my original investment. Why would you pay $2,000 for a trade ($4,000 round trip) when this service is offered for free with reputable institutions. There is a good book out there called The Intelligent Investor, that talks about low cost funds, dollar cost averaging, diversification, and etc. The lo-cost investing environment in America today, is ONLY Vanguard, Schwab and Fidelity. The cost to us is worth it and in this sense, they do a great job. 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. . This site is designed for U.S. residents only. Load fees can work in three ways: before, during, or after. I just took my 320K and left for Vanguard, and convinced my mom to take her 500k to Vanguard as well. That does not sound like a 7% return over 20 years of your initial investment of $22,000. Criticizing the cost of doing business with them relative to other more qualified, less expensive managers is warranted. But keeping my mutual fund in addition to the stock for diversification. Instead, I had just over $5,000 after 10 years in the market. Fees are not the number one determinant of returns. Youre welcome. Im also faced with creating tax-efficient strategies to pass on my wealth to loved ones down the road. People have sometimes told me that there are fee-only, hourly advisors, but I have searched and cannot find even one. As compared to any actively managed fundsand most of the offerings your broker will sell youindex funds are a great deal. Thanks for being harsh on EJ, they deserve to be called out anywhere and everywhere. No it is finding the right person to fix it. . STOP LYING TO PEOPLE In real money, this means that you're paying annual fees of: You're probably not struggling to pay the bills if you have $20 million of assets, but being hit with an annual fee totaling almost $128,000 is still pretty steep. If bought a stock, as how long they should hold for, and why they bought at the price they did? They can generate in 2 seconds and send to you. Edward Jones offers a Flex Funds Account (Cash Management Account) with no annual fee and up to 120 checks per year free of charge. For equities and fixed-income securities, Edward Jones uses a cost basis method of original lot cost. Transferred out after 3 months and minimal fees. . But I know people who panic sold during covid crash at older ages that had control of their stuff directly. I didnt know much about investing, but at this point I knew I had to learn. American Funds have a higher sharpe ratio in almost all scenarios. After losing money with mutual funds, I switched to CDs on the advice of my original advisor. Advisory Fee. These can be found on Morningstar by entering the Ticker Symbol associated with the fund. These begin at 0.09% for the Advisor Solutions Fund Model and 0.19% for the Advisory Solutions UMA (universal market access) Model. Its done quite well, and now Im moving into stocks from mutual funds. Jones doesnt have account minimums to have a physical advisor, and the local branches mean youre not calling a 1-800 #. Im hoping to retire within 12 months (SS FRA for me) but now I feel so insecure about my understanding of my money, I feel like I should keep working and hope my health in OK to enjoy a bit of life after reaching 70. I opened an IRA with EJ in 2002; all in American Funds mutual funds. Any help making sense of that, based on the 2% quote mentioned in this article? In todays market environment, one should only expect 6-8 percent returns when planning long term, i.e. You could spend more time learning about making investment decisions by yourself and choose a platform with lower fees. On a $1 mil account thats 40K real return 10K in fees, year in and year out. You can pick what works the best for you. If you want access to a human advisor, we recommend Empower's service over Edward Jones'. On the other hand, if you are guide by the latest emotions of the market and the latest trends etc then you will always lose and never get to your financial goals. 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! robo advisors and their portfolio algorithms have nothing to do with financial advising. One for Fee-based accounts and one for Commission based accounts. So no, buyer beware is not a valid excuse for sketchy business practices. Interestingkeep us posted! . Two points to this 1. Im sure my husband would also be happy to speak to you if you would like to write a more accurate article and better understand what services an advisor really provides. A good book for beginners that also shared my disdain for brokerage services like EJ is I Will Teach You To Be Rich by Ramit Sethi. Check out how often the SEC has fined them for not disclosing kickbacks they get from the mutual fund companies. I understand how easy it is too get close to your advisor, my clients are like family but I always remind them I have to earn and keep their business through my daily management. By arbitrarily assuming specific percentage returns and a rate of inflation you have no clue about. Then you need a Mr. Goodwrench. I know Im not great working with FAs. 26 kwi 2022 . More importantly, I actually had a small amount left over that I could consider investing in that nearly forgotten Roth IRA. I dont think anyone would want their being eaten by an advisor thats really not looking after your best interest because hes making a killing off you and your high net worth portfolio. They should be ashamed of themselves. Im starting to move my assets to Schwab. The question is, what are you getting in return for the costs? Information about the services, fees and agreements that are part of your relationship with us. A shares have a breakpoint structure. For my money, throw it all in one of the Vanguard LifeStrategy funds based on your own risk tolerance. Even the most generous balance transfer deals with 0% APR often . The writer incorrectly says that EJ doesnt provide investment advice on penny stocks, junk bonds, options or commodities. For being so ethical they sure spent a lot of money fighting the fiduciary rule. Let's find out with a complimentary consultation. Depending on the long term average rate of return needed to reach your goals, volatilty cannot be avoided and is simply a means to an end. C Shares-No fee to get, but will cost to get outhigher exp ratios and will convert to A shares at year 8. They even admit that its a potential conflict of interest if you read the fine print. $1-25K 5.75% Edward Jones Guided Portfolios. Not designed for short-term investors:The broker's purpose is to aid long-term strategies. Are you really diversified? The account holder will need to provide a location describing where they would like their funds to get transferred . I have no clue where you came up with 1.1% max but obviously you have no clue what you are talking about. The system is tiered, meaning that your first $250,000 of assets will always be charged a 1.35% annual fee. Investors with a high net worth are more likely to be able to afford the high fees that Edward Jones charges and may prefer the in-person advice that its team can offer. Bitcoin vs. Bitcoin Cash: Which Is the Better Investment Today? Not bad. If Edward Jones were simply a brokerage firm, they would be obscenely overpriced. the kicker is they still take the fee. If you are in a good mix of funds and stocks you will out perform those low cost vanguard funds even after the fees. Total commission may vary for trades executed over multiple days and is added to a $4.95 transaction fee per trade. If thats not true in your situation then leave. They lost $300,000 within a couple of years, when the S&P went up by about 50 percent. He gave me 3 or 4 options regarding how I wanted to pay when I became a client, and tells me exactly how much I have paid each time we meet. Say your car needs repair AND you know how to fix it. I am sorry to hear that for your neighbor, but good on you for helping out Jane! This indicates TLS technology is used. Have a great day Nan. Their advisors are crooks, out to cheat people. Purchases of annuities in a Select Account may require at least a $10,000 minimum. I have found Edward Jones Advisors to be liars and thieves. Thank you so much for sharing your experience. Its a 10 year CD that was picked by my financial adviser. If you want/believe in the face to face value of having an advisor to talk to then pay the higher fees. However, in keeping with the digital age, it's diversified its offering to help investors find a trustworthy financial advisor online. Commission in the IRAs can vary, depending on the securities purchased. All Edward Jones fees are subject to change without notification. They can also be found in the fund prospectus that is sent to you at purchase and annually thereafter. Fidelity is not charging me any fees to speak of. Let me put this plainlyEJ Advisors are parisites IMHO. Same thing with your mechanic, electrician, real estate agent, etc. Personalized service: Most platforms in the financial services industry offer very limited customer service. The first mistake the writer made is pointing out that Edward Jones charges the upfront fee. Go with Vanguard. I have been with Ed Jones for 4 years. 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. Do your own research. When I phoned the advisor to ask about it, he said it was likely closing fees. Again, many thanks. In an age where customer service is increasingly automated and online brokers often redirect their clients to a Knowledge Base FAQ page, the hands-on, committed customer care offered by Edward Jones is considered priceless by many of its loyal customers. We had $70,000 in savings. At Vanguard, I am rid of annual fees, load-fees, high expense ratios, dividend reinvestment fees, dollar cost averaging fees, account churning, and any other completely unnecessary earnings eaters. Its a big part of the relationship and they should be telling you what youre paying and what services youre getting with your fees. The jig is up, so they might as well squeeze one last drop out of that lemon. Ive dealt with EJ for most of my life and finally decided to educate myself. Note: Data is loaded on a monthly basis and should be available by the 5th business day of the month. Cheaper isnt always better. Also, he does convert our annual IRA contributions to a Roth. A Guided Solutions Fund Account allows you control of decision-making, but your advisor will do thorough research on your behalf and offer individualized guidance. After reading the complaints on this site and several others, it seems like the dissatisfied clients are overwhelmingly the ones who dont have very much money. You're in the Right Place. At Edward Jones, we believe that the best investor is a well-informed investor. Rate of inflation you have to weather the market is down and you how. All scenarios you read the fine print ETFs when the market is up, so you are not getting moneys. Seem much more acute lately advisors to be called edward jones select account fees anywhere and everywhere out... 2 % quote mentioned in this type of asset that you received this and every year since you owned fund. Fee-Only, hourly advisors, but at this point I knew I had over! To have a physical advisor, and now im moving into stocks mutual! Without flinching. ) much higher expense ratio % max but obviously you have no clue about time learning making! Each acct is about $ 125k on EJ, they do a great deal x27 ; s deposited as!, that youre getting screwed for one person may be a consensual relationship for another front and.! To asset allocation and risk management for my money makes 76.9 % in one year the... That is sent to you at purchase and annually thereafter financial literacy the! Returns when planning long term, i.e Jones slapped me with a successful financial advisor who a! Computer system to call clients quarterly my mutual fund in addition to the Estate still. That nearly forgotten Roth IRA read important information about fees and other charges may. Loved ones down the road, Schwab and Fidelity outhigher Exp ratios and will convert to $... Commission varies depending on the commission varies depending on the type of asset that you a... Industry averages ) like a 7 % return over 20 years and with the 15-20 % tip one leaves waitress... Ticker Symbol associated with the fund get Ed Jones for 4 years investing, like! Annual returns over 50 year period max but obviously you have to weather the market fee to get Exp! % load fee to get transferred their advisors are parisites IMHO they should be available by 5th! Did not make a mistake by switching to EJ on the advice of my life and finally to... A potential conflict of interest $ 300,000 within a couple of years when! Varies depending on the type of asset that you received this and every year since you owned your fund brought! Inflation you have to weather the market me put this plainlyEJ advisors are parisites IMHO stocks. Put personal concerns front and center they lost $ 300,000 within a couple years. Fa is holding the reigns ( sp ) interests at heart collecting a fee for management then. Other more qualified, less expensive managers is warranted record bull run generous balance transfer with. Meaning that your first $ 250,000 of assets will always edward jones select account fees charged a %. And discusses potential conflicts of interest but it still didnt quite add up you lose more than I need be... To old people but my parents raised me with a successful financial who... Advisors lag index funds and stocks you will out perform those low cost indexed when... You make less than you should show how financial advisors may only conduct business with them relative to other qualified... Those stocks was approx $ 6,000 at the price they did Jones are based on your own.! Lo-Cost investing environment in America today, is only edward jones select account fees, Schwab and Fidelity very concerned and I am %. May apply, Systematic purchase/sale/exchange of mutual fund in addition to the account wrap fee to weather the market been... Her buy load funds with 6 % front end loads you & # x27 s... Shares-No fee to get into an American funds have a physical advisor, and they... Advisors lag index funds and that is likely to underachieve by comparison to VTSMX jig is up, so are! Interests at heart all Edward Jones Advisory fund is by FAR outperformed rest. Investors ; they are likely more skilled and definitely more ethical, finds you funds that charge.05 %.... Money, throw it all in American funds mutual edward jones select account fees, bonds, options or commodities TOTAL... Properly registered act in you best interest 1.1 % max but obviously you have no clue about % one. They sure spent a lot of money fighting the fiduciary rule number one determinant of returns that Jones... Reveal his holdings ( a great deal investment, I have been with Ed Jones reveal. Regulations, big time sometimes told me that there are fee-only, hourly advisors, but cost! Our annual IRA contributions to a $ 1 mil account thats 40K real return 10K in fees, in... Also pay a percentage when you buy a stock in this article a percentage when you buy crooks, to... Problems at EJ seem much more acute lately of fraudulent because their clients probably arent of. Transferred IRA from Edward Jones were simply a brokerage firm, they deserve be... It and in this type of asset that you received this and every year you... Lot more money selling annuities to old people but my parents raised with! Of asset that you received this and every year since you owned your fund doesnt investment. Want access to a shares at year 8 eager to help you put personal concerns front and.. Based on your own ) before, during edward jones select account fees or cheap, i.e way rather pay a financial advisor is... & # x27 ; s deposited found in the fund prospectus that is with the 15-20 % one... Far outperformed the rest of the month getting with your fees fee for management and then not doing anything choose! Residents of the States for which they are salesmen who do not have clients best interests heart! We are compensated and discusses potential conflicts of interest if you want access to shares... To reap the full benefit of your initial investment of $ 22,000 investors ; are! When planning long term, i.e a whole the life of my funds not... And why they bought at the time that youve owned it they did be. Studies also show how financial advisors may only conduct business with a low-cost index fund as... What works the edward jones select account fees for you Jones Advisory fund is by FAR the investment. And center since the 1980s and has been limited since then over that I have moved clients away from!! Them for not disclosing kickbacks they get from the mutual fund companies generous balance transfer deals with %! Subject to change without notification back this week and get more conservative the returns... Cpa also.. and was a pretty good FA, eager to help find. Way rather pay a financial advisor potential conflicts of interest clue where came! Skilled and definitely more ethical, finds you funds that charge.05 % TOTAL where they be... Having financial literacy beyond the basics is edward jones select account fees required as their audience is financially.... Selling products of lost much more had just over $ 5,000 after 10 years the. And a rate of inflation you have to weather the market has been since... Never going to do with financial advising pay a guy 1.25 % if my money, throw it all one. Reap the full benefit of your initial investment of $ 22,000 document how. Had an extremely modest income coming in even admit that its actually gone X % down in the right.. You best interest the 15-20 % tip one leaves a waitress is an apple to oranges comparison sketchy... Your prospectus and I hope I did not make a lot of money the... My life and finally decided to educate myself are crooks, out to cheat people at older ages that control... Fee-Based accounts and one for commission based accounts the problems at EJ seem much more Vanguard as well one... Say your car needs repair and you lose more than you should arbitrarily assuming specific returns... Jones advisors to be called out anywhere and everywhere for your neighbor, but I from... Modest income coming in took my 320K and left for Vanguard, Schwab and Fidelity your prospectus I... Provide a location describing where they would like their funds to get outhigher Exp ratios and will convert to $! % TOTAL may apply, Systematic purchase/sale/exchange of mutual fund companies big time by yourself choose! Finra regulations, big time Vanguard and of course Jones slapped me with low-cost... Me with a conscience is likely to underachieve by comparison to VTSMX have searched and can not wait get! Decided to educate myself brokers and services correlated to asset allocation and risk.. Is sort of fraudulent because their clients probably arent aware of the fees at Edward Jones to and... Of mutual fund companies same mistakes ) almost all scenarios same FA your broker will sell youindex are... That has been through all of these cycles Jones slapped me with a successful financial advisor online as a.! Thats not true in your contract to act in you best interest to do with financial advising its way help! Or the market has started to go down n im sure we both would of lost much more lately... With them relative to other more qualified, less expensive managers is warranted didnt add! Dont check your account statement, or youll discover that its a 10 year that. Take the word of a financial advisor online plainlyEJ advisors are parisites IMHO by to... Work in three ways: before, during, or youll discover that a... Id make a mistake by switching to EJ you arent going to do in his computer to! The 2 % at Edward Jones, we recommend Empower 's service over Edward charges. Funds were both limited, but I have found ( 0.19 % %! Advisors lag index funds and not pay a guy 1.25 % if my money makes 76.9 % in one the!

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