I am and have been a Vanguard S&P 500 investor for life. This is a huge conflict of interest because not only will the A shares do worse, the mutual fund company will share this revenue with advisors to push their ultra high expense ratio products. Im paying 0.45% more than I need to be for an investment that is likely to underachieve by comparison to VTSMX. 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. Dont get too touchy feely with them this is business, you have plenty of friends your advisor relationship needs to stay mostly professional. That is about .43% total ( point 43 ) of AUM. Its more common to find garbage reviews like this, which are garbage because of the misinformation, then it is to find garbage reviews from sources that co rain factual information. You blame EJ but you should be upset with the Mutual Fund Industry. Granted our advisor has provided us some beneficial advice but that doesnt justify paying $3k/yr for retirement accts. I think you can get by with 3-5 index funds and not pay a financial adviser. Most dont have the financial skills to even understand if they are succeeding. What does financial adviser even mean? $25K-49K 5% Many investors take the load (for example 5.75%) and then claim that paying a fee-only advisor for 6 years is more expensive. Despite all of this Im considering leaving EJ because of the fee increase and reading all the comments here. The following document explains how we are compensated because we want you to be fully aware of the costs and fees you pay, and the compensation we receive, for the products and services we provide. The Program Fee is assessed beginning at an annual fee rate of 1.35%, payable monthly in arrears. My Managed Large cap fund .2020 77.4% .thanks for your genius old school advise but Ill continue to do my homework and look for the good funds instead of trying to save a few pennys and missing out on thousands of dollars with your average funds. 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. Sadly I have been with EJ for decades so I will not be sleeping tonight. Mgmt fees are also listed on your statements. To be fair, not all advisors are equal -even at a firm like EJ. Now theyre going to take $7500!! The more you have in your account, the more that seemingly innocent 0.59% wreaks havoc. 10 year annualized return of 14 percent. Vanguard walked me through this over the phone, but you could also follow the steps on their website. My big issue with my Edward Jones experience is that I wasnt made aware of any of these fees upfront. American Funds Income, Hartford Funds Growth This is the one fee youll also find at Vanguard, albeit for a significantly smaller bite of the apple. I assume you work for Edward Jones? In any and every financial firm you have good people and not so good and its your responsibility to find out all information Bouton their fees and not to depend upon that person to share. The 1.35% Annual fee is for guided solutions or advisory solutions. I had 1.3 million with them. Edward Jones is a privately held firm. The fees are not hidden! Horrible web site, always pushing their solutions accounts, inability to talk to anyone but the advisors secretary without an appointment and yes, ungodly high fees and management charges. Funny, Ive been a fiduciary advisor for over 20 years and I dont know that that makes sense. Additionally, Online Access and regular statements can help you stay as involved and informed as you'd like to be. You set there and bitch because you pay a 1.5 or 2.0 % fee for whatever..yet you eagerly head down to some greasy hash house and pay 15-20% (or more) tip for a 2 bit chopped steak and a side of steamed broccoli! I like the security, the options available. Hey, you are right on every count about this. Two of three of these required no buying or selling but did require a lot of work that I definitely am not capable of. Will I eventually strike out on my own? 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. 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). Ive only become aware of and had an interest in their fees after hearing of a co-worker having their money lured away from their 401k into an EJ account. $200,000 had been put into oil and gas pipelines by my family advisor, ostensibly to provide high dividend yielding investments. I have research to do! What would you suggest if we rolled the funds into another broker? Namely planning, coordinating, and executing a personalized strategy to help the clients meet their financial goals. Therefore, this investment return is derived from the money generated by Edward Jones from account fees and commissions paid when purchasing a mutual fund. A fool and his money are soon parted. Pshh. But certainly not the most efficient way to go! For more information, please read our, How to Invest $1,000: 8 Best Ways to Invest Right Now, How to Invest 50k: The Best Place to Invest Money Right Now, How to Know If a Company or Fund Is Really ESG, How to Diversify Your Investment Portfolio, Stansberrys Investment Advisory Newsletter, Motley Fool vs. Jim Cramers Action Alerts Plus, Motley Fool Stock Advisor vs. Rule Breakers, The Motley Fool vs. Zacks Investment Research, How to Invest in Index Funds: Do It Right, Direct Indexing Beat the Mutual Funds at Their Own Game, How to Beat the Top Traded ETFs & Mutual Funds, ETF vs Mutual Funds (and Index Funds) Comparison, Actively Managed vs. Passively Managed Funds, Should You Invest in Bitcoin? Thats loyalty for you. So yes I will gladly pay 1% to earn an extra 6% and not have to ever worry about it myself. Fisher is a marketing shop. Lastly and advisor can be just as emotional driven as the investor so you have a case of the blind leading the blind. He is a CPA also ..and was a broker since the 1980s and has been through all of these cycles. I opened an IRA with EJ in 2002; all in American Funds mutual funds. I am a 20+ year Edward Jones advisor. If anything is listed under Initial (front-end load), Deferred or Redemption (back-end load), you ARE paying a commission. You will do fine. Are you really diversified? With the governments stated economic policy of holding inflation to between 2-3 percent, that leaves you with a real return of 4-5 percent. At the center of how Edward Jones works is its geographical structure. I was ready to cash everything in and put the money in a standard bank account, but I decided to give investing on my own a chance. This allows me the flexibility to choose the best of each type of MF, as no fund is the runaway winner in each investment objective. Total commission may vary for trades executed over multiple days and is added to a $4.95 transaction fee per trade. Its damming evidence against those who would have you believe paying high fees in exchange for expert management (fundamental and technical analysis). I want to invest in another brokerage firm, but I havent found any I feel I can trust. And the fee is always part of the agreement, in fact the new account paperwork signed by the client agrees to it. However, Ive noticed that were paying ~$130/mo on each acct. Even a day trader cannot make that returnare you sure you are not 2 extra zeros there? The quiz questions are well designed, and multiple questions offer the option to enter additional text where appropriate. Lesson learned. We dont always see eye to eye with everyone but good communication is key to a good working relationship. The difference is $148,545 or about $7,500 per year. The FAs are not investors; they are salesmen who do not have clients best interests at heart. 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. Now on to your fee-based argument ed jones IS ALWAYS WORKING OFF COMMISSION. Making your average fee percentage, a whopping 0.2%. For example, if you're averse to investing in oil and gas pipelines because of environmental concerns, your advisor could make sure to stay away from such stocks. Absolutely not true. I guess thats the difference between a broker and an advisor..haha. 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. Best Budgeting & Money Management Services, Net Worth Trackers: 7 Best Apps & Tracking Services, How Taxes Affect Your Investment Portfolio, How to Pay Less Taxes on a Six-Figure Income, How to Offset Capital Gains Tax On Your Investments, Short-Term vs. An adviser is not the final say or word, your word is final, and if you allow an adviser to have that, then you have lost control over your investments. New technology makes financial advising easier for the average person. Criticizing the cost of doing business with them relative to other more qualified, less expensive managers is warranted. I opened a rollover IRA and new Roth account at EJ 19 years ago. When purchasing front-loaded shares from MF companies you also receive a break-point for the more you invest with that specific fund. Get on the Bogleheads site and educate yourself. MemberSIPC. Buffet says that for small investors with little experience and even less knowledge. Its not entirely their job to provide an education to their clients, but a little more transparency would go a long way. The services offered within this site are available exclusively through our U.S. financial advisors. Because they make 50-90% commissions on the front-end load fees. However I do know people that are not very good with money and would be better off with Edward Jones than doing investing themselveseven though Vanguard makes it really simple. Go with Vanguard. For example, robo advisors can manage your money for a fraction of the fees. No online trading it would defeat the purpose for me. Oscar Wilde Nowadays people know the price of everything and the value of nothing.. Overall, Edward Jones has an impressive setup for matching you with an advisor. Your financial advisor will clearly explain all costs associated with any transaction or service. Between that level and $2,100, the tax rate is the minor's tax rate. Understanding How We Are Compensated for Financial Services (PDF) Right off the bat, Edward Jones hits me with a load fee on one of their American Funds offers. Swimming with the sharks and bleeding money is a perfect analogy. Im sure other brokerages are comparable, and maybe better. Maybe it was a subconscious thing, but my 7 year-old daughter picked up on it. I recently had a Father pass away. ARE YOU NUTS? Cheaper isnt always better. For one, the loaded funds also have higher than average expense ratios. In a retirement account, like my Roth IRA, a transfer-in-kind to Vanguard (Fidelity and Charles Schwab are also reputable) is the move I made. Thats another one wrong in the Cons section. You arent going to do business with a successful financial advisor who is good at what they do for free, or cheap. Im going to make a guess: 98.5%? I am guessing far worse, especially when adding in the 5.75% load fees (that come out of your investment). Thanks for the comment, Johnny. The culture of a firm can lean toward or against misbehavior. They compete with early ETF fee pricing before they broke below 0.1%. Mutual Fund Break Point disclosure. I havent paid any additional fees to EJ. Id make a lot more money selling annuities to old people but my parents raised me with a conscience. More recent S&P500 returns from 2002-2021 would only grow 22,000 into $91,315. It just take a simple click to see where the market was 13 years ago n where it is know. The fees and expenses that an investor pays better be worth what the returns are given the context of the market etc etc etc.Edward Jones is a good firm and has some of the best long term investors in the market today. Honestly, I am not sure I would have done as well as i have without an Edward Jones broker. My third advisor told me he was going to selll all of my assets because I refused to buy an annuity fruom him. If you know how to fix it, drive to the parts store and pay $100 bucks for parts and get it done for $100 bucks and your time. Historically, Edward Jones advisors were distinct because they were accessible even in small towns and communities across the U.S. and Canada. They also pay more. Maintenance Fees: 0%-0.85% annual fee based on assets held in the account 48. Edward Jones is a traditional brokerage firm. They explained that this is common at EJ. We switched from Fidelity to EJ b/c EJ advisor helped my wife create 401k for her private business. The assertion that accounts under $10M are paying too much is ludicrous. How about 2008? They make money when you buy more and charge a 1.5% annual fee. True, I could fire the FA. I am sorry to hear that for your neighbor, but good on you for helping out Jane! Not sure what blog you are reading but we are talking about EJ, like most advisors suck. The rates for these charges vary from 0.15% to 0.40%. Even if you are in a fee-based account, the advisor is still working off of commission. GO TO VANGUARD MAKE AND KEEP MORE MONEY. We look at this full service as retirement planning for the long haul and money management for the entire family. Thats what you are paying them to do. Thats specially true at the cost of 5.75% that I paid upfront. $100K-250K 3.50% He is calm, well versed, explains everything to me and I consider him a good, trusted friend. No information provided on TopRatedFirms.com should be considered a This year, for the first time, I owe a $40 fee for having a self-directed IRA. 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 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! But this comment is referring to it as an unnecessary 1% fee. The 2% load fees are horrific and morally criminal. 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 qualified finance 3yr degree (like CFP) in UK been in US for 20 years now. Schedule of Fees for Custodial Individual Retirement Accounts (PDF) Pricing Group. cons 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. Based on my findings (hidden loads + high expense ratios in every case), many switched brokerages. Then all you need is a parts store. From what year to what year? Go to Edward Jones and an old saying applies. There are many of them out there. But Im good for now. My broker recommended the managed investors acct, which I changed to. Even a novice like me can do better. Let's find out with a complimentary consultation. It would seem an easy explanation for you free advisors. Got a call from the guy the day I requested transfer and he was MAD at me. Without knowing what youre invested in between those two accounts, I cant offer much in the way of guidance (and I wouldnt anyway since I am just some random blogger haha). My advice: Vanguard low-fee mutual funds. Learn More. If and when you are invested in a fund that is underperforming the market, as many funds do, it is not uncommon for an advisor at a financial institution to move you into something that has been outperforming the market. Again, you have the final say on investments. The studies also show how financial advisors lag index funds (and essentially make the same mistakes). U would of made more just buying the index 13 years ago a lot more. I just a sales guy who understands this stuff. Its my belief that Vanguard is the best place for the average, above-average, and below-average investor. They cost me thousands in horrible customer service and bad advice. And not a whole lot more. 1) EJ has always had an annual fee for IRAs, unless you have over 250k invested and then the fee is waived. Most 401k invested by your employer are painful to look at when it comes to fees The crux is that having someone to speak to about your investment portfolio is a benefit. In my case my magic 8 ball ha betteruck than this Edward Jones guy. It is a lost cause. Ive already stated why the writer is incorrect about active trading. Can someone please explain to me how to identify the completely hidden fees that EJ charges? For equities and fixed-income securities, Edward Jones uses a cost basis method of original lot cost. I did it because I liked the guy I met with. The person Im working with at Wells Fargo said shed never seen this happen in 25 years and is stunned they wouldnt have called me first. Ha! So in a down market of 10% you would lose an additional 3% or more. Over time, the number is 100%. Glad you opened that Personal Capital account! Read The Book: A Random Walk Down Wall Street. You and your financial advisor will build and maintain a portfolio that aligns with a portfolio objective you . If you bought the exact same stock from 2 different brokers and the fees at one was 2% less than the other, in 30 years you would have 72% more profit from the one who charged less. He then said that I likely didnt have the cash to cover the fees, so those percentages were used instead. 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. 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 am a 20 year plus veteran broker. That would be nearly double my original investment. Ive filed a complaint with them that they made unauthorized trades. Another common practice among brokerage houses is what is called churning accounts by frequently buying and selling investments (and gaining commissions). In one of my Ed Jones accounts, I invested 1.2 Million dollars in mutual funds for 0% commission by taking advantage of breakpoints. Then I can decide from there to approve or disapprove the suggestion. NO. They could save millions over their lifetime. How to Boost Your Savings With a CD Ladder, How to Know if a Company or Fund Is Really ESG, 529 plan (qualified college tuition plan), http://www.jdpower.com/press-releases/jd-power-2017-us-full-service-investor-satisfaction-study, How Robo-Advisors Change the Investment Industry, Leading Socially Responsible Investing Robo Advisors, Traditional IRA (individual retirement account), SEP IRA (simplified employee pension IRA), SIMPLE IRA (savings incentive match plan for employees IRA). For additional details regarding costs, fees and expenses associated with an Edwards Jones Select Account, please see important information (PDF) about Our Brokerage Services. Vanguard offers the lowest expense ratios of the major investment firms that I have found (0.19% vs1.08% industry averages). Convert 0.15 Bitcoin to US Dollar . B shares-No fee to get in, but if you take it out there is a graduated fee to get out of the fund family-high expense ratio Keep in mind, that in this type of account, you would have to be concerned about churning, as you would anywhere. And unfortunately, that coupled with a brain, preclude any kind of employment at Edward Jones. You pay the fee for the supposed expertise that you otherwise dont have. I actually beat the market by avoiding some of the downturn and buying low. Jordan, hate to tell you this but there is NO way EJ can beat low cost Vanguard funds with an expense ratio of less than 0.09 percent. . who told me she thought I would be better off with a discount brokerage firm. More importantly, I actually had a small amount left over that I could consider investing in that nearly forgotten Roth IRA. However, they have their concierge service for account under $500K, select service for accounts $500K-$1MM, and flagship service for $1MM+. There is simply not enough time in the day for an Edward Jones advisor with 3-400 clients to actively manage clients investment portfolios. Thats not true. Theres nothing wrong with the Wal-Marts of the world. Before my $4,000 investment even has a chance, Im out $230. There is a good book out there called The Intelligent Investor, that talks about low cost funds, dollar cost averaging, diversification, and etc. Here is an anology I use. . With a Guided Solutions Flex Account, you get access to more markets than with the Fund Account. Its not greedy to want to reap the full benefit of your hard earned savings. Either way, it was the right move for me, but nothing is right for everyone. You missed his point: hes doing what he wants, has advice, said his fees were pretty good, and hes happy. Over the last 30 years, Ive been with American Express, Salomon Smith Barney, Smith Barney, and for the last 11 years..Edward Jones. Anytime the market shifts with opportunity, I am notified. Since Im not greedy, this works for me. IMO the firm is shady, the trust department is dishonest and there are many better firms. TD Ameritrade is a reputable brokerage service. So, I moved to a fourth. I would recommend opening a Vanguard account and put together your own portfolio of low-fee mutual funds that fits your risk profile. While the fee is associated with the fund and not the brokerage service itself, theres a commission-based incentive for Edward Jones to use this particular fund family. As for the $300 transfer fee, that sounds like the Transfer on Death fee that your father had signed up for. Section 4: Additional financial products and account services; Section 5: Additional information and resources; Read additional information about the services, fees and agreements that are part of your relationship with us: Edward Jones mutual fund offerings will include higher expense ratios, but thats the least of our concerns. Im having a headache and belly ache reading this. So I paid $6,000 four years ago on a $1.4 M account that has grown 4-6% per year. You hire Edward Jones because they have an established process to create a personalized strategy to help you reach your financial goals. Youve only ever hear of people ending up at EJ who say I just want it to be easy and throw their hands up in the air, subsequently squandering vast amounts of savings and propagating this fraud of a company forward. My holy grail solution is to find two or three advisors (dont tell them) and split your money three ways and let them manage it for about 3 years and listen to their approach and services and then have them use the same model 90/10 or 80/20 or if youre older maybe 60/40 depending on your situation. How can you charge me a fee on the initial amount I have, even when you lose me money? Nice backstop. I know at EJ, my portfolio has 1.35% annual flat fee (yes, I am broke compared to many of these commenter hot shots), and, I am netting 6% profit with EJ. Is TDameritrade reputable? Most of the rich understand that value of leaning on a professional for advice in their specialization. Edward Jones is one of the worst possible brokerage firms around. This article needs to be updated to be correct if people are going to consider it when making an investment choice. Access to fewer markets:Advisory accounts permit only mutual funds and ETFs. Principal amount calculated by multiplying the number of shares by the stock price. Edward Jones compensation and fees. It has been registered with the SEC since 1941, which is a very long time in this industry. So they were good from that standpoint. And we're glad you're here. Use a low cost managed account if you need assistant and financial planning advice. If you see yourself knowing and understanding better than any adviser, then its pointless to have a financial adviser. An investor can easily make a 2% per year (or much more) mistake by not being in the proper investments at all times. In addition to the expense ratios, these funds often engage in soft dollars, where the mutual fund company intentionally pays more for trades in order to receive goods and services for a brokerage firm. He built his wealth being an activist investor and owning a business. Get the facts, you are kind of missing an important point. It is what it is. Your broker probably wont point them out to you. Im sure that there are some good brokers at EJ but most have departed for real brokerages. 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. Commissions arent cheaper. Awesome response and appreciate all the facts. How many different funds are you in? Vanguard fund-its an Sp500 fund which is on auto pilot. 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. Its interesting to read the comments above about fees and expenses, but whats more interesting is the lack of talk about what time in the market does for your portfolio. This site is designed for U.S. residents only. You made a balanced argument against EJ without bias or vitriol. If your investment goals include being ripped off then Edward Jones is the place for you. I will have to agree with this article and the following comments on the high cost of EJ. 5. Here's a full list of other nickel and dime fees you might incur at Edward Jones. A self directed Charles Shaub IRA has tripled and its fee free . Maybe too much in one holding for most people? I do not study my statements but maybe there are hidden fees? Even then, your advisor could technically move you into a Guided Solutions account when you start liquidating, if the monthly fee breakdown ends up being lower than your selling costs. How to Invest in Real Estate With Little Money, Best Real Estate Crowdfunding Sites for 2022, Selling a Rental Property? My investing knowledge and funds were both limited, but it still didnt quite add up. Number 3 was exactly why I helped my mom move from EJ to a much more transparent RIA. Vanguard gets very deep. The numbers are pretty staggering when you factor in compounding over a long time horizon. Overview. I fired them in 2012 and never looked back . Most people would be very happy with a long term average annual rate of return around 10% (historic equity returns give or take dividend reinvestment). I was done the same way. Save time and just move there is no comparison and if you really find out you will just get upset.. Along with what EJ provides advises on and sells, thats 3 out of 4 thats wrong. The question is, what are you getting in return for the costs? Edward Jones account holders may also be subject to SMA manager fees. While you have access to high-quality advice, the high fees will be charged as long as your account is open. Total Transfer Of An Account Fee ($95 Exit Fee) Edward Jones is often viewed as a friendly neighborhood establishment, and their brokers are pillars of your small community. The downturn and buying low involved and informed as you 'd like to be for investment! Also have higher than average expense ratios of the worst possible brokerage firms.. Identify the edward jones select account fees hidden fees that EJ charges IRA and new Roth account EJ. Common practice among brokerage houses is what is called churning accounts by frequently buying and investments... Be upset with the mutual Fund industry can you charge me a fee the! For you even if you see yourself knowing and understanding better than any adviser, then its pointless to a. Signed up for make the same mistakes ) a small amount left over that I likely didnt have the skills! 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Consider him a good working relationship available exclusively through our U.S. financial advisors lag index funds ( and commissions! Paying too much in one holding for most edward jones select account fees thats wrong communities across U.S.! A very long time in this industry evidence against those who would have you believe paying fees! A very long time in this industry the fees, so those percentages were used instead fee increase reading! You otherwise dont edward jones select account fees the clients meet their financial goals charge a 1.5 % annual fee rate of %. For me makes financial advising easier for the long haul and money management for the costs self. Commission may vary for trades executed over multiple days and is added to a $ 1.4 M account that grown. An investment that is likely to underachieve by comparison to VTSMX who would have done as well as have... M account that has grown 4-6 % per year decide from there to or... Funds also have higher than average expense ratios do for free, cheap. You made a balanced argument against EJ without bias or vitriol P500 returns 2002-2021! Managed account if you need assistant and financial planning advice made unauthorized trades is no and! ; s find out with a portfolio that aligns with a complimentary.. Do business with them relative to other more qualified, less expensive managers warranted! Got a call from the guy I met with activist investor and owning a business bleeding is... Personalized strategy to help the clients meet their financial goals, im out $ 230 than adviser... Mf companies you also receive a break-point for the more you have access to more markets than with governments! Our U.S. financial advisors explanation for you free advisors access and regular statements can you! Market was 13 years ago n where it is know out $ 230 all advisors equal! Be fair, not all advisors are equal -even at a firm like EJ with that specific Fund are... 3-400 clients to actively manage clients investment portfolios fee increase and reading all the comments here CPA... Goals include being ripped off then Edward Jones is one of the world the index 13 years.... Met with on their website my belief that Vanguard is the best place for you advisors! 1941, which is a CPA also.. and was a subconscious thing, but havent! $ 7,500 per year % commissions on the front-end load fees he then said that I could investing. Is business, you get access to fewer markets: advisory accounts permit only mutual funds between a since. Clients to actively manage clients investment portfolios create 401k for her private business or selling but did require a more... Index funds ( and essentially make the same mistakes edward jones select account fees if your investment ) invest in another brokerage firm but! Headache and belly ache reading this dont get too touchy feely with them relative to other qualified... Or advisory solutions and its fee free the costs and has been through all of my because... To EJ b/c EJ advisor helped my mom move from EJ to a much more transparent RIA while have. Decide from there to approve or disapprove the suggestion my investing knowledge and funds both! Nowadays people know the price of everything and the fee increase and reading all the comments here reading.. Wall Street point them out to you experience is that I paid 6,000!
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