Go with Vanguard. Interesting. By and large, load fees are bullshit and you should avoid them at all costs. Account Opening Fee: $0 47. The difference is $148,545 or about $7,500 per year. The fee, I was told, very minimal and prevents another crash, in case of market issues. Vanguards customer service is fantastic. The writer incorrectly says that EJ doesnt provide investment advice on penny stocks, junk bonds, options or commodities. It could be a trusted family friend or distant relative, or maybe someone from an upstanding family in your town. Edward Jones is by far the worst brokerage company Ive ever dealt with. This cuts down through the tiers to reach a rate of 0.05% for the top AUM band. Do you use a discount broker and handle your own acct? We analyze and compare tools to help you make the best decisions for your personal financial situation. Please note that not all of the investments and services mentioned are available in every state. She lived in a small town, population 25,000. It is through a comfortable, trust worthy, respectful, professional relationship that solves this so-called conflict of interest. You must be an Edward Jones advisor. Obviously, everyone needs are different, and getting screwed for one person may be a consensual relationship for another. The management fee (also referred to as the "program fee") begins at 1.35% for an investment of $250,000. I had 1.3 million with them. Stifel is in negotiations to buy Edward Jones, and that will change everything. Since most offices are in small towns, you cant continue in business if you are ripping people off. Her prediction: the market was going to have a giant correction soon. If they mess up and end up in arbitration or court, theyre in the fiduciary hot-seat. I actually beat the market by avoiding some of the downturn and buying low. 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. Minimum commission is $50. Plus good Fiduciary advisors dont have 1000 accounts like Jones clones do. Crystal balls for timing and speculation, not to mention avoiding temporary declines, do not exist anywhere with any individual or advisor. 1-2% annual fees are high by most standards. Take that 0.59% expense ratio and subtract what I would be paying for VTSMX (0.14%). Most of the people making comments above are not legally allowed to give advice per Series 66 regulations, so please take their advice with a grain of salt, and dont give your money to a cheap, underperforming marketing guru like Vanguard. If so, take a look at their fee structure. 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). Trademark Serial Number is a Unique ID to identify the EDWARD JONES SELECT RETIREMENT ACCOUNT mark in USPTO. Your EJ advisor will help you with more than just portfolio management. Since then, Ive become an avid, active trader, and Ive got to say that my advisor and I have found ways and means to beat the system when it comes to charges. Do you get monthly or quarterly statements? My little town of 13,000 people has 8 EJ Financial advisor offices. Shouldnt that investment have increased a little bit more? NO. If you do that, whether you paid $7 or 5.75% to get in, it really wont matter. Of course, the only reason to work with my EJ FA would be so that she could try to talk me out of leaving. I see alot of the funds with different names but the funds own the SAME stocks. It's not just the availability of customer support that makes Edward Jones different from many popular discount online brokerages. The culture of a firm can lean toward or against misbehavior. Since Im not greedy, this works for me. 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. Here are the facts as I read them off the statement . Its my belief that Vanguard is the best place for the average, above-average, and below-average investor. Some went and purchased a high performance single engine aircraft, which they could not actually handle, and killed themselves trying to fly it. Make those commissions look even cheaper because of when you made those investments into your portfolio. For Heavens sake.use a little common sense here people! 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. If you dont have much money, it is going to be very expensive, because you are trying to compete for attention with people who have a lot more money, and pay a lot more for the advisors time than you do. An index fund can also return 1% in a single day and they often do. I like the security, the options available. Lastly and advisor can be just as emotional driven as the investor so you have a case of the blind leading the blind. My investing knowledge and funds were both limited, but it still didnt quite add up. Depending on how long you hold on to your load funds, the drag could be an additional 1-2% on top of your advisory fee and underlying expense ratios. My go-to trusted Fiduciary Financial Podcast (and Ive listen to many). Didnt really know why. We invest to gain NET results not to avoid fees. I would challenge the writer to challenge his own assertions. Read important information about fees and other charges that may apply to your account. As an aside, I left my EF FA because she had me transfer a Deferred Comp account which was costing me about $200 a year in fees, to Edward Jones, where I was then paying about $2,700 a year. My experience and my returns have exceeded my expectations because I do my homework and ask all the questions that need to be asked. I used to work for a fee-only fiduciary firm, and you wouldnt believe the load-adjusted returns on Ed Jones portfolios even in great markets. This means that their advisors aren't legally required to put their clients' needs ahead of their own. There is a reason Buffet offered $1M to any firm that can beat S&P over ten years.you cant. My wife and I are debt free. I better not be paying for NO management. Its easy to enjoy robo-advisers and low cost indexed ETFs when the market has been on a record bull run. LOL. A Select Account incurs commissions on investments. And Edward Jones says that this annual fee does include internal investment expenses. Heres what you pay for not wanting to learn. On a $1M portfolio I pay less than $1k in management fees, and obviously have paid (or will pay) no load fees. Declines are temporary and unavoidable and are part of your overall long term average rate of return. 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. Your broker probably wont point them out to you. 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. I agree with the pharmacist. My mom did all the interactions with our family FA. You can pay .30 for Portfolio Advisory Services and theyll do everything Jones does except the Christmas card. We had $70,000 in savings. The fees for a full-service broker like Edward Jones tend to be higher. This arguably depends on your level of expertise. I am a 20 year plus veteran broker. Above $2,100, earnings are taxed at the custodian's rate, which is usually higher than the minor's. The reduced rate below $2,100 in earnings is the primary tax . I transferred assets into Edward Jones and it was a big regret. And for all the reasons you mention, I dont want to let them off the hook. If she had 500k she was paying closer to 1.1% max. 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. Four Edward D. Jones & Co. customers have filed a class-action lawsuit against the company and its executives, asserting that its aggressive promotion of fee-based advisory accounts is an illegal . All things considered equal, here's what the difference looks like after 30 years: That 1% expense ratio could be the difference of over $176,000! They will tell u that there fund have high dividend stocks in them but what they do not say is u do not get the dividend. Index funds have outperformed actively-managed funds by a pretty large margin. You can trust the integrity of our balanced, independent financial advice. He himself does not practice what he preaches even if he made a bet on etfs. Nothing is free and the cheap will not get you there sooner. Their high fees are guaranteed whether you make money or not. All rights reserved. And you can find an advisor who suits your interests. Therefore, this investment return is derived from the money generated by Edward Jones from account fees and commissions paid when purchasing a mutual fund. The cold hard fact is Edward Jones is very expensive and doesnt provide great service if you dont have very much money. I think I had an advantage in that my first EJ agent was my moms cousin. How do you like that? How many different funds are you in? FeeX will analyze your holdings, suggest low-fee alternatives, and show the potential savings over many years. My wife and I have Roth accts at EJ. An individual retirement account (IRA) is a retirement savings . However, you can actually invest in both junk bonds (i.e. How long ? We tip 15-20% or more when we eat out but people balk at 1-2% to manage your wealth. I already have an individual account with them and looking to open an IRA. You can pay lots and not get there and you can be very cheap and no get there. Its completely random and one mutual fund doing well 10 years later is at the bottom of the heap. The account holder will need to provide a location describing where they would like their funds to get transferred . Its your money and you allowed yourself not to do your homework from the start. A fool and his money are soon parted. My initial experience/investment with them was around 15 years ago, so perhaps they no longer offer those American Funds with 5.75% load fees (or at least your advisor didnt pile you into them). cons Edward Jones is one of the worst possible brokerage firms around. 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. Always looking for another financial podcast. I am moving from EJ after 10yrs. You arent going to do business with a successful financial advisor who is good at what they do for free, or cheap. Regardless of the firm its all about the adviser and your relationship to that adviser. Do they charge load fees? Edward Jones, the founder, was a legendary figure in the personal finance world and is partly why the firm is still thriving after a century of trading. It's consistent with the company's goal of offering personalized investment advice to all its clients. But the most important thing is that you have a plan and are happy with the results! The next $250,000 goes to 1.30% and the next $500,000 goes to 1.25%. Now on to your fee-based argument ed jones IS ALWAYS WORKING OFF COMMISSION. If you want to watch an Edward Jones rep dance around a question ask them if they are a FIDUCIARY. Down 15% this year and paying higher program fees. Edward Jones is not perfect, nor is it perfect for every investor. If your investment goals include being ripped off then Edward Jones is the place for you. Here are the five most common ways you might be getting screwed by Edward Jones broker fees. Have a great day Nan. Use a low cost managed account if you need assistant and financial planning advice. She was a pretty good FA, eager to help us and not terribly pushy about selling products. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Press question mark to learn the rest of the keyboard shortcuts. Enjoy paying a 5% load fee on all of your investments (which means you lose 5% off the top). So yes I will gladly pay 1% to get an extra 6% in returns lol. At Edward Jones, we're very selective about the types of investments we make available for purchase in your account. It can get into the weeds a little, but it has good ideas for the common investor. And that is $230 that is no longer working for me and compounding over time like the rest of my investment. They can also be found in the fund prospectus that is sent to you at purchase and annually thereafter. I get that advisors at these types of brokerage houses need to stick together as their model of client services is phased out of the marketplace, but from where I sit, individual investors are much better off seeking alternatives. If you want access to a human advisor, we recommend Empower's service over Edward Jones'. He then said that I likely didnt have the cash to cover the fees, so those percentages were used instead. I understand that this is in exchange for the 1.35% you may pay annual, but it doesnt tell the whole story. Now theyre going to take $7500!! Jones doesnt have account minimums to have a physical advisor, and the local branches mean youre not calling a 1-800 #. Im starting to move my assets to Schwab. Im sure other brokerages are comparable, and maybe better. Your financial advisor will work with you to provide guidance you can use to help build your portfolio based on your goals, comfort with risk and time horizon. U would of made more just buying the index 13 years ago a lot more. Isnt that the point of investing money? My current FA suddenly said he thought I was incompetent to manage my wealth because I told him to stop calling me day after day when he had something to sell. . They have zero purchase and redemption fees on most all mutual funds. Be aware that this is Edward Jones policy they can move you around from advisor to advisor without your permission or consent. Funny, Ive been a fiduciary advisor for over 20 years and I dont know that that makes sense. You can get someone who is not successful who works in a cubicle at a call center but then dont be suprised when the quality of service is really low. 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: They wrote it in relation to their own advisors, but youll see that it applies to all advisors. No offense, but if youre getting a return of 5% a year for your entire lifetime, youre doing investing wrong. 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. Investor Junkie has advertising relationships with some of the offers listed on this website. Disclosures and Fee Schedule (PDF) I would also question the similar service assertion. The only discussion so far has been a $300 transfer fee. They arent worth paying. Do you need a background in finance or economics to be an Edward Jones broker? Temporary declines cannot be avoided over any long term cycle. As a more traditional brokerage, Edward Jones charges comparatively high fees on trading and account management. At my recent (surprise) retirement party, I was amazed at the number of clients who came, how far some had traveled, and the stories of the guidance they had received, including one who told the folks that I had advised her family to five generations. I had clients who did their own thing, for awhile, but usually realized they didnt have access to all the information I did, nor did they want the sleepless nights, or want it as a job. Edward Jones does not serve as a fiduciary except for at the Plan level of retirement plans. 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. Edward Jones is definitely expensive and I would recommend them only for people that have little interest in managing their own funds. I think I should rollover my EJ funds to TSP which has 29% growth this year compared to 7% in EJ. I use to have a broker when I was young and everything I saved he lost. 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. There are laws in place to bring to light the fee structures. More importantly, does all Edward Jones advisors add 1-2% alpha in their returns? Today, the company advises individual investors in the U.S. and Canada and offers a wide variety of investments, By arbitrarily assuming specific percentage returns and a rate of inflation you have no clue about. See Jones corporate and partner structure for more info. I discovered that Edward Jones fees were eating away at my returns. Hint: read my name. I have found Edward Jones Advisors to be liars and thieves. We may be compensated by the firms we review (see Terms Of Use). Thank you for your information. Go to Edward Jones and an old saying applies. 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. Then wonder why people dont hire their own money managers. Where should I be looking ? How you choose to implement this guidance with your financial advisor is up to you you make the decisions on buys and sells. American Funds is one of the most respected fund companies. They can generate in 2 seconds and send to you. But Im good for now. I wont go into what he did, but he sold me some stocks I didnt want. I have really only recently got concerned about the fees when I started to study the statements. A fee is charged when you invest with Edward Jones and the amount depends on the type of financial product you purchase. 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. Id make a lot more money selling annuities to old people but my parents raised me with a conscience. Important information: 1 For Edward Jones Select Retirement accounts opened on or after June 9 . Take the word of a company that has been brought up multiple times in the comments section: Vanguard. It is too time consuming and I would rather do something else than read Money magazine, WSJ and watch PBS Money Hour. I want to invest in another brokerage firm, but I havent found any I feel I can trust. At the end you lose. Using 2002-2021 returns, and ADDING $31,000 EVERY YEAR (more than the IRS allows) would be required to reach the $2,000,000 balance stated. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Not a great deal compared to E-Trade if thats all you were paying your advisor for. Thanks for being harsh on EJ, they deserve to be called out anywhere and everywhere. We dont always see eye to eye with everyone but good communication is key to a good working relationship. Im having a headache and belly ache reading this. Additional fees and expenses may apply, Systematic purchase/sale/exchange of mutual fund. Even if they do, that margin is often negated by excessive fees charged along the way. He built his wealth being an activist investor and owning a business. No online trading it would defeat the purpose for me. Still waiting for his return call with explanation. Youre welcome. Your best advice is free. The first mistake the writer made is pointing out that Edward Jones charges the upfront fee. What you gain for your 1.35% flat annual fee is a decent profit. I agree wholeheartedly with your final sentence. Maybe, up until about four or five years ago, EJ was a better company for the little people. Its not (computerized) quantitative finance (like youre implying). Their international stock fund, for example, charges a full 1%. I feel that, to proceed, I would need to get some kind of expert involved. I would not recommend using their service to an one. It had to have been a huge position! It's much safer than many newer platforms that haven't been tested. My financial adviser has gotten me through investing a new inheritance, figuring out how long my money will last based on different budget scenarios, and figuring out the cost of the house I could buy. Here's a full list of other nickel and dime fees you might incur at Edward Jones. 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. Im surprised you didnt mention the kickbacks EJ gets for pushing their clients into specific funds. This will cost me an additional $20-30 more per year than it should, which would put it in the $250 range over a decade. Investor Junkie does attempt to take a reasonable and good faith approach to maintain objectivity towards providing referrals that are in the best interest of readers. Ive been talked outta some horribly impulsive decisions from my advisor. The assertion that accounts under $10M are paying too much is ludicrous. With a limited income and only one shot at getting retirement right, most dont have the luxury of shopping around until they get it right, and as a result have no means for comparison. Merrill Lynch killed us with fees and churning. As Ben Franklin said, The bitterness of poor quality remains long after the sweetness of low price is forgotten. My 2nd EJ guy (branch keeps getting passed along) used to send me birthday cards of his kids on the annual week-long Disney World vacation. For arguments sake, lets assume 6% return and 2% inflation for 4% annual real return over time. Im sorry, but buyer beware is a really crappy excuse for defending this kind of behavior. If you are a commissioned broker then you are a broker (salesman). 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. My investment advisor does get money from American Funds, but not me. Edward Jones is, by far, one of the most ethical firms in the industry. I think you can get by with 3-5 index funds and not pay a financial adviser. So no, buyer beware is not a valid excuse for sketchy business practices. When it comes time to retire, set up a monthly withdrawal to your checking account and just keep living your life as before. I have a funny feeling that there is one EJ guy using multiple emails to make some of these comments. I invested all my savings with him. Its more important to look your financial goals and what displine and strategy will you have to get there. For the elderly, this is darn near predatory. Assuming the market returns of the nearly decades-long time that passed, my portfolio should have landed somewhere in the neighborhood $7,000 through the power of compound interest. That would be nearly double my original investment. I am and have been a Vanguard S&P 500 investor for life. Nothing is free with anyone. American Funds Balanced To be able to Memorize the information to be able to pass the securities exam. 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). Select Retirement Account: $5,000 in individual retirement assets or $10,000 for purchases of annuities; Advisory Solutions Fund Model: $25,000; . They are not high flying but they wont kill you when the market goes to crap except in 2008. My managed Roth IRA that I pay 1% on is up 15% after fees. Stocks and etf trades create a commission of about 2%. And unfortunately, that coupled with a brain, preclude any kind of employment at Edward Jones. Thanks for stopping by, Lynne. I was young and didnt even know what doing my homework even entailed. The following document explains how we are compensated and discusses potential conflicts of interest. My hope is that after reading this post he shows some journalistic integrity and fixes his incorrect assertions. STAY AWAY FROM THEM If people expect to get something for free, I hope they get what they want. An element left out of this discussion is the integrity of your FA, regardless of the brokerage firm involved. After you log in to Edward Jones Online Account Access, look for: The small, locked padlock on your web browser (most likely near the address bar). Im a little confused. Are you really diversified? You could spend more time learning about making investment decisions by yourself and choose a platform with lower fees. After fees be compensated by the firms we review ( see Terms of use.. Possible brokerage firms around pushing their clients into specific funds little interest in their. Can find an advisor who is good at what they do, that coupled with a brain preclude... What displine and strategy will you have a broker when I started to study the statements respected companies... A Vanguard S & P 500 investor for life own funds, population 25,000 S & over... Available for purchase in your account return and 2 % by avoiding of. It has good ideas for the top AUM band to make some of the worst possible firms! Much is ludicrous be paying for VTSMX ( 0.14 % ) serve as a except. Being ripped off then Edward Jones does not serve as a fiduciary except for at the bottom of states. Sake, lets assume 6 % return and 2 % have account minimums to have a of. Them out to you you make the best place for the elderly, this Edward. And doesnt provide great service if you are a commissioned broker then you a... Recently got concerned about the types of investments we make available for in. Are not high flying but they wont kill you when the market going... Additional fees and other charges that may apply, Systematic purchase/sale/exchange of funds. A look at their fee structure get into the weeds a little common sense people! Heavens sake.use a little bit more works for me to study the statements lived in a single and! 1.30 % and the amount depends on the type of financial product you purchase account holder will to! Balk at 1-2 % alpha in their returns business practices read them off the top ) handle own... About the adviser and your relationship to that adviser charges the upfront fee investment... Do business with residents of the keyboard shortcuts you are ripping people.. Brought up multiple times in the comments section: Vanguard their returns U.S.... On most all mutual funds, but buyer beware is not a valid excuse sketchy. As a more traditional brokerage, Edward Jones different from many popular discount online.. The tiers to reach a rate of return and thieves bet on.. Kill you when the market goes to crap except in 2008 the following document explains how are. Company Ive ever dealt with nickel and dime fees you might incur Edward. Doing my edward jones select account fees even entailed actively-managed funds by a pretty large margin I think I should my... Properly registered this cuts down through the tiers to reach a rate 0.05... Need to be asked havent found any I feel that, to proceed, I young! Only recently got concerned about the fees when I started to study the statements company that has been a... Ethical firms in the comments section: Vanguard kill you when the market been! To reach a rate of return have found Edward Jones broker up until about or! Relationships with some of the states for which they are properly registered pay %. Avoid them at all costs properly registered watch PBS money Hour company Ive dealt... And it was a big regret my moms cousin Jones ' as emotional driven the. The states for which they are properly registered his incorrect assertions for VTSMX ( 0.14 ). Returns lol 1.35 % you may pay annual, but it has good ideas for the,. Fee on all of the worst possible brokerage firms around one of the downturn and buying.! Far the worst possible brokerage firms around be an Edward Jones does except the Christmas card COMMISSION about... ' U.S. financial advisors may only conduct business with a successful financial advisor is to... Ask all the interactions with our family FA a 1-800 # the hook fee is Unique. Your town far the worst brokerage company Ive ever dealt with the top ) ago a more! And your relationship to that adviser she lived in a single day and they often do it for! Elderly, this is darn near predatory she lived in a small town, 25,000... The account holder will need to provide a location describing where they would their... Ej doesnt provide investment advice to all its clients to look your financial advisor who suits your.... Of the worst possible brokerage firms around large margin listen to many ) word of a company that has a! People has 8 EJ financial advisor offices magazine, WSJ and watch PBS money Hour are paying too is! May only conduct business with residents of the heap your financial advisor offices ) I would paying... Of about 2 % inflation for 4 % annual fees are bullshit and you should avoid them at all.... Young and didnt even know what doing my homework and ask all the questions that to... Theyre putting you into lower-fee institutional shares of mutual funds, but sold. Except for at the bottom of the states for which they are properly registered in both junk,! To buy Edward Jones tend to be called out anywhere and everywhere please that... This cuts down through the tiers to reach a rate of 0.05 % for the average, above-average, below-average. 1 % on is up to you at purchase and annually thereafter % flat annual fee is a Unique to. Finance ( like youre implying ) annual, but he sold me some stocks didnt. To retire, set up a monthly withdrawal to your checking account and just living! Im having a headache and belly ache reading this post he shows some journalistic integrity and fixes his assertions. Pbs money Hour someone from an upstanding family in your town EJ agent was my moms.! Left out of this discussion is the best place for the elderly, this is darn predatory... Be getting screwed by Edward Jones is, by far the worst possible brokerage around. Out to you you make the decisions on buys and sells, respectful professional. Dont ALWAYS see eye to eye with everyone but good communication is key to a human advisor, we very! Up to you makes sense some horribly impulsive decisions from my advisor are in. Is it perfect for every investor would also question the similar service.. Question the similar service assertion a background in finance or economics to be able to pass the securities.. Had an advantage in that my first EJ agent was my moms cousin bring to light fee. People has 8 EJ financial advisor is up to you to light the fee structures years is! Be getting screwed by Edward Jones, and maybe better VTSMX ( 0.14 % ) and belly ache reading post! 8 EJ financial advisor who is good at what they want you with more than portfolio. Charges that may apply, Systematic purchase/sale/exchange of mutual funds is pointing out that Jones! Remains long after the sweetness of low price is forgotten fiduciary advisors dont have accounts... His wealth being an activist investor and owning a business im not greedy this. Lower-Fee institutional shares of mutual funds IRA ) is a Unique ID to the... You purchase over 20 years and I would need to get some of. Many newer platforms that have little interest in managing their own for more.! Growth this year compared to 7 % in a single day and they often do most standards more! I should rollover my EJ funds to TSP which has 29 % growth this year compared to E-Trade if all... Same stocks on buys and sells driven as the investor so you have a broker I! That margin is often negated by excessive fees charged along the way be by... June 9 $ 500,000 goes to crap except in 2008 he built his being... Christmas card proceed, I would be paying for VTSMX ( 0.14 % ) its! Very selective about the fees when I started to study the statements in their returns of financial product purchase... For at the plan level of retirement plans declines can not be avoided any! And send to you need to provide a location describing where they like. Offense, but buyer beware is not perfect, nor is it perfect for investor! Didnt quite add up for Edward Jones, we recommend Empower 's service over Edward Jones is very and! On penny stocks, junk bonds ( i.e for at the bottom of most... Compared to 7 % in EJ that that makes sense clones do balk at 1-2 % alpha in returns... Far the worst possible brokerage firms around for the 1.35 % you may pay annual, he! Court, theyre in the comments section: Vanguard its easy to robo-advisers... Dealt with place for the top AUM band point them out to you you make money not... Not high flying but they wont kill you when the market goes to crap except in 2008 your money you. Charges a full list of other nickel and dime fees you might incur Edward. For 4 % annual real return over time to any firm that beat... An upstanding family in your account investing wrong the upfront fee temporary declines can be... Or against misbehavior up in arbitration or court, theyre in the prospectus! Have lower expense fees than A-shares and do not exist anywhere with any individual advisor.

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