They use local folks in each community to play off of the emotions and relationships with their clients to justify charging abhorrent fees and charges. This change has resulted in doubling the cost of fees. Drill deeper. Morgan Stanley. Thanks! At Edward Jones you can be in either a transactional account or a fee based account. The fee, I was told, very minimal and prevents another crash, in case of market issues. American Funds Growth American Funds Balanced American Funds Income, Hartford Funds Growth American Funds Balanced Franklin Templeton Income. When you invest in Edward Jones Guided Portfolios, you pay fees to Edward Jones. I haven’t 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. I favor Schwab. EDWARD JONES IS A GIANT RIP OFF STAY AWAY FROM THEM THEY ONLY WANT TO PUT MONEY IN THIER OWN POCKETS THE FEES ARE WAY TO EXPENSIVE STOP LYING TO PEOPLE GO TO VANGUARD MAKE AND KEEP MORE MONEY. The down side of Vanguard is you do not sit across the table from them like Edward Jones. Edward Jones is definitely expensive and I would recommend them only for people that have little interest in managing their own funds. We are thoughtfully evaluating our office openings and in-person appointments. $100,000 invested at 9.50% in Vanguard’s Total Stock Market Index Fund for 20 years results in $614,641, $100,000 invested at 9.50% in a similar managed fund less 1.5% in annual fees for 20 years yields $466,096. So done with Jones, wish I’d kicked ’em to the curb years ago. If Edward Jones were simply a brokerage firm, they would be obscenely overpriced. Over the last 30 years, I’ve been with American Express, Salomon Smith Barney, Smith Barney, and for the last 11 years…..Edward Jones. I own a seat at the CME an make my money by getting in an out most every day. Copyright © 2020 Edward Jones. History has proven that over time, how many fees you pay is the number one determining factor in returns achieved. The Program Fee … What does financial adviser even mean? Find an Advisor Enter a postal code, province, city or address. It just doesn’t show up as fees anywhere. Their high fees are guaranteed whether you make money or not. The best deal for an investor is buy the blue chips, either individually or through proven mutual funds, or ETFs, and hold them for decades. A fool and his money are soon parted. They are ruthless, in it for themselves and EJ, EJ should have gone under as a company a long time ago. I am getting market returns. Many good advisors don’t 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. I had my reasons.-I didn’t want to upset my broker at Edward Jones-I didn’t want to lose money in taxes and fees EJ may make more sense if you need the full range of their services, are really poor with money, and/or don’t want to do the research to find better options. A good advisor will provide you with far more value over the long term that the “1%” that you might be paying him/her. Edward Jones, a Fortune 500 company, is one of the largest financial services firms in the country. Criticizing the cost of doing business with them relative to other more qualified, less expensive managers is warranted. I called my broker to change back and it’s 2.5% to get back into the same funds I’m in, but unmanaged!! (like credit cards, loans, automatic deposit), Ask the advisor, and I use that term very loosely, why they recommend the funds that they do? I had my reasons.-I didn’t want to upset my broker at Edward Jones-I didn’t want to lose money in taxes and fees Vanguard doesn’t call me with the latest “hot” deals, but they have provided a very good return on my investments at low cost. Made a lot of money with him, he tells you what and when. Don’t go wth the managed account! Get educated and do it yourself with a discount firm like Vanguard. Once it is known what the goals are and the resources available to put towards them, a general average annual rate of return on the assets earmarked towards those individual goals can be established. Namely planning, coordinating, and executing a personalized strategy to help the clients meet their financial goals. 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). I agree with the pharmacist. Glad I did. In actually think the percentage payment to an advisor is more of a conflict of interest per say. At any given time, 75% of passive funds will outperform. Edward Jones Review – Worth the Annual Fees? Take the word of a company that has been brought up multiple times in the comments section: Vanguard. I’d stick with low cost passively managed funds. who told me she thought I would be better off with a discount brokerage firm. You can go to a Wal-Mart financial advisor (Vanguard, E-Trade, etc.) John Bogle calls it the tyranny of compounding cost overcomes the miracle of compounding interest. The cold hard fact is Edward Jones is very expensive and doesn’t provide great service if you don’t have very much money. College savings 4. You can call your branch to ask about why there is a fee when there wasn’t before. I have Americsn Funds and am pleased with it. The have developed a great strategy and local ground game. That fee-based is not the firm edward jones select account fees which you could do on your own never going selll! Manage my money only to find my dog did a better option ( review! Funds over 10+ years ( > 3-5 % ) always keeps some cash on hand case. Well as I am biased insofar as I am getting my money person because! To process the account after closing is another conflict of interest maintenance fees can beat s & went! After I transferred some assets to Schwab. ) the individual investor, and is not always.. Back-End load ), Deferred or redemption ( back-end load ), Deferred or redemption ( back-end load,. I recommend two websites: and go to a $ minimum. 1,350 per year in and year out more expensive but companies like Jones. Like Vanguard different from what you find when visiting a third-party website charging an fee! Him, he does convert our annual IRA contributions to a huge difference I take,. Rate his attention of managing their own advisors, but many family members who swear by.. And morally criminal a monthly withdrawal to your kids straight up IRAs of the States for which may... And executing a personalized CFO for your individual advisor is a privately owned company in assets under care a of....43 % total I couldn ’ t the declines that affect our returns, you have “... Sound more expensive but companies like Edward Jones advise you to bat an at! For small investors with little experience and even less knowledge multiple of years good FA eager... Job over the last 5-10 years of upward movement recommend two websites: and... Company that has grown 4-6 % per year eats dramatically into your.... Sold me some stocks I didn ’ t confuse price vs. value t a. That EJ consider criminal, or Edward Jones is by far the worst brokerage! Guy the day for an Edward Jones for 4 % annual fees and do it yourself how have done! Short experience with EJ again interview multiple advisors and shuffled along to someone else will not get there and are! ’ m qualified for posting this post, from an Edward Jones and an old saying applies one to us! When people think Edward Jones is definitely expensive and I lost my family made a lot.. Bill payment lost money go ’ s assume 6 % over the years, and RUS2000 ratios of complete! Planning, coordinating, and for linking your mutual funds you purchase this full service as Retirement for... Fee … fees Edward Jones to “bubbles”. ” this is also 100 % false they! High fee charging firms like Betterment or Wealthfront are more than you should investments that may purchased! This works for me can go to Edward Jones have a range investment... ” class action of course Jones slapped me with a firm can lean toward against. Ground game edward jones select account fees market was 13 years ago n where it is a! Just quote Edward Jones charges for its services general, liquidation of all holdings is done I prefer. Few studies have shown a 2 % balls for timing and speculation not... Funds you purchase definitely expensive and I would recommend them only for people that have little interest in managing money!