This is what Jack Bogle called the tyranny of fees. Minimum commission is $50. 5/5. Im a CFP working as a fee-only fiduciary (Im sure thats too big of a word for an ed jones wife) so Im not going to argue this further. Save time and just move there is no comparison and if you really find out you will just get upset.. Compare cryptocurrency exchanges by fees, fiat currencies and deposit methods to find the right fit for your needs. I was young and didnt even know what doing my homework even entailed. I have had a brokered CD with Edward Jones for 5 years. I interviewed with them and RAN out the door when I heard what they do. I figured I couldnt do worse than EJ, and, in fact, I am doing quite a lot better. Asking for a total cost report does not include internal fund expenses and would not give you the whole picture, you will have to do the . This site is designed for U.S. residents only. Thank you Susan, and you are rightit was an early enough lesson. American Funds Growth I have no idea where that money went. I have no clue where you came up with 1.1% max but obviously you have no clue what you are talking about. Youre right that nothing is free but there are a ton of better, cheaper options available ie Vanguard or Fidelity Spartan Funds. You can also take a financial quiz to get matched with the best overall advisor for your needs, even if they aren't necessarily located in your geographic area. I would also advise EJ financial advisors who are open to charging their clients a lower fee and get to keep more of their earnings (instead of sending 61% to the mother ship in St Louis) should look at going independent, Neither of you will regret it. Thats specially true at the cost of 5.75% that I paid upfront. You would also pay a percentage when you buy a stock in this type of account. Thank you, Melissa, for your breath of fresh air. Today, the broker's advisors earn money through a combination of commission fees and revenue sharing. Many companies model this practice or worse. 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. Jones Money Market Fund. My advisor refused to talk to me about it, and left me holding the bag. Its not his fault, others are just doing better that EJ. At any given time, 75% of passive funds will outperform. Well touch on that later. And Edward Jones' compensation disclosure admits that some of its advisor incentives could lead to conflicts of interest. There are many of them out there. I did it because I liked the guy I met with. In a transactional account, you pay a cost when you buy or sell an investment. For the average investor, Edward Jones is probably not the best choice. Investor Junkie does attempt to take a reasonable and good faith approach to maintaining objectivity towards providing referrals that are in the best interest of readers. You need to check again. 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. To be able to Memorize the information to be able to pass the securities exam. That sounds like an exceptionally bad advisor operating within an already broken model. Sadly I have been with EJ for decades so I will not be sleeping tonight. Important information about fees and other charges that may apply to your account. He refused. People have sometimes told me that there are fee-only, hourly advisors, but I have searched and cannot find even one. This is WHY EJ has your best interest in mind by offering both. So they were good from that standpoint. Heres where the fee makes a difference YTD a Vanguard fund that was recommended below is up 9%. I called my broker to change back and its 2.5% to get back into the same funds Im in, but unmanaged!! Why would you pay 2% to a person that does nothing? The main benefit may be the 12-month 0% APR on balance transfers and the absence of fees (unusual) for transfers made within 30 days of account activation. Until these accounts reach $5,000, they are limited in the number and types of investments that may be purchased or held. or you can go to a full-service broker. Nothing is free with anyone. Its almost impossible to break 1.6% in total fees per year using institutional shares. These costs are not required to be disclosed in expense ratios. The 0.59% annual expense ratio amounts to $23.60 out of that $4,000, but that amount will only grow as the account does, while the $40 flat fee will make up less of a percentage of my overall accountprovided my account actually does grow. Vanguard walked me through this over the phone, but you could also follow the steps on their website. MemberSIPC. Personally, I think E.J. Lets talk expense ratios. The jig is up, so they might as well squeeze one last drop out of that lemon. So back I go as they double dip. You'll have a range of investment choices to work with and flexibility in how you manage them and how active you want to be. Maybe it was a subconscious thing, but my 7 year-old daughter picked up on it. There is nothing that Edward Jones has to offer that a person cannot get somewhere else. For all other account types, the broker charges a Program Fee that's a percentage of the value of your account. I am moving from EJ after 10yrs. Custodial Individual Retirement Accounts. In the first case we are talking about HUGE sums of money that eventually will finance every area of a persons life. If you miss talking to some sort of advisor, you can find one on a fee-only basis (not a percentage of your assets). Hey, you are right on every count about this. You paid at least 2.5% upfront for those American funds,. 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. The adviser I have with Edward Jones has done a stellar job over the last 13 years!!! Its actually protecting the assets and the beneficiaries, by not allowing anyone access until all legal documents are in to prove who has legal rights to the information. I invest in four funds, Total US Market Index, Total International Index, Total US Bond Index, and money market. I guess you really have to look at how you are as an investor some people may want someone to do everything for them. A Free 1,000 Southwest Rapid Rewards Points For TurboTax Users, Incurring Annoying Non-Chase ATM Fees, $2.50 At A Time, Home Is Where The Paycheck Is With Geographic Arbitrage, Analyzing The All-Time Results Of The Super Bowl Indicator, How To Tax-Loss Harvest Your Way To Positivity. Totally agree. I am a buy and hold equity investor. My wife and I use Edwards Jones as a CFP (Certified Financial Planner). It would seem an easy explanation for you free advisors. 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. I own a seat at the CME an make my money by getting in an out most every day. They can generate in 2 seconds and send to you. What Edward Jones is doing is arguably criminal. We have added the most popular Fiat Currencies and Crypto Currencies for our Calculator/Converter. To get a piece of that time, you have to pay. I currently have all of my investments with EJ and have for about 10 years. The management fee (also referred to as the "program fee") begins at 1.35% for an investment of $250,000. If one assumes that this should be any part of an advisors value proposition, he or she is gravely mistaken. Plus customer service very reluctant to answer a question always want to refer you to agent but they are not always available. I was with EJ for 2 years and never got any sound financial advice from my broker. True, I could fire the FA. There is no minimum investment for a Select Account; however, some investments in Select Accounts require minimum purchase amounts.*. Oscar Wilde Nowadays people know the price of everything and the value of nothing.. 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! Fisher is a marketing shop. The company has branches pretty much everywhere. They then waited until things felt better and decided to get back into the market after it had doubled or tripled from those lows, completely undermining their performance because of the emotional decisions. Exercising fear tactics doesnt work with me. Your EJ advisory funds have performed HORRIBLYFar worse than SP, and RUS2000. Overview. The agent checks in, because he has set a to do in his computer system to call clients quarterly. I am sorry to hear that for your neighbor, but good on you for helping out Jane! Thats $3k a year for a Roth acct. One post you said I am a 20 year plus veteran broker then you said I am a 20+ year Edward Jones advisor I dont go around saying Im a CFP when Im not so if you are a fiduciary over your clients assets then you can call yourself an advisor. New comments cannot be posted and votes cannot be cast. Go to morningstar.com and get a Quote for your mutual funds. It's much safer than many newer platforms that haven't been tested. Down 15% this year and paying higher program fees. The difference is $148,545 or about $7,500 per year. Edward Jones offers a Flex Funds Account (Cash Management Account) with no annual fee and up to 120 checks per year free of charge. I would recommend opening a Vanguard account and put together your own portfolio of low-fee mutual funds that fits your risk profile. 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. Those that Im into for the long haul I have on commission ((the deep stocks); those that I trade away every week or so are in a fee-based account thats going to run me about $500 a year not much for a whole year of active of trading. 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.) My friend n I both got sucked into Edward Jones both lost money. The system is tiered, meaning that your first $250,000 of assets will always be charged a 1.35% annual fee. I am happy to set it on autopilot with a low-cost index fund, as you mention. First of all, I would hope and pray that my radiologist isnt studying finance on the side, calling his free trading account during market hours, and think that his playing the market is going to beat a long-term plan set up based on the individual clients financial needs, income, tax bracket, liabilities (like kids, or dependent parents), desired retirement age, and correct diversification. my father died in 1996. the lawyer handling his estate recommended an Edward Jones broker for my mom. At the end of the day, if your long term goals are attainable with a 5% AARofR, why would you want (or need) to put yourself through the unnecessary emotional stress that an investment mix designed (by historical measures and notice I said investment MIX not investment selection) to provide an AARofR of 9% will inherently put you through? I am rich. No information provided on TopRatedFirms.com should be considered a Youre paying them a lot of money to do what anyone could do for way cheaper. With a Select Account, you have the final say on investments. * - The fee is waived for households with $250,000 or more in assets under care. You need to study your accounts better. This account comes with no minimum investment requirement. I didnt want to pay him for the exact same service and options I could get completely free at fidelity (or other places). FYI.. others are correct though. I have been talking to people who charge a wrap fee, but I havent found anyone I can trust. Edward Jones is a full-service brokerage firm operating across the U.S. and Canada. Your EJ advisor will help you with more than just portfolio management. Generally speaking 70-80% of actively managed funds underperform the benchmark. Do they charge load fees? InvestorJunkie receives cash compensation from Wealthfront Advisers LLC (Wealthfront Advisers) for each new client that applies for a Wealthfront Automated Investing Account through our links. Any help making sense of that, based on the 2% quote mentioned in this article? With VTSMX, the only fee youll pay is the very low expense ratio on the fund itself. 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. 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. At Edward Jones, we believe that the best investor is a well-informed investor. An important step in reaching your goals is ensuring your investments stay aligned with your goals and comfort with risk. I would not recommend using their service to an one. Many good advisors dont even do that at all anymore, and simply delegate the management to someone else using a program like Advisory Solutions so they can focus on what they are good at and what adds value to clients. 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. What do you need? The book was originally written in the 1970s and has been updated as time has passed. Investor Junkie strives to keep its information accurate and up to date. I fired them in 2012 and never looked back . This article does contain some inaccuracies about the churning and the cost structure. You dont need annuities or mutual funds anymore and you have all the democratized information they do. People can invest online now and dont need a broker. If you pay a management fee of 1.35% to invest you DO NOT ALSO pay annual account fees or stock investment fees. Yes but you do pay annual fees for the mutual funds or ETFs selected by your advisor. Where should I be looking ? 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. All products are presented without warranty. The adviser I have with Edward Jones has done a stellar job over the last 13 years!! Sorry I work a lot. They charge 95 dollars per account to close. Thats the real beauty of a PERSONAL advisor: a person who, with the client, formed a plan, who they can visit face-to-face, or (sometimes) get a quick callback from. Here is an anology I use. I have never shelled out anywhere near $10K in tips to waitresses in a single year or even over some multiple of years. Vanguards customer service is fantastic. For being so ethical they sure spent a lot of money fighting the fiduciary rule. Let's find out with a complimentary consultation. She was a pretty good FA, eager to help us and not terribly pushy about selling products. Am changing going to Fisher Investments lower fees less complaints and a good track record. They partner with you throughout your life to help you on track. non-investment-grade bonds) and commodities at EJ through mutual funds or ETFs. Where did my money go? Definitely a buying opportunityas it is every two weeks when I DCA into the market! By the time she could liquidate and move to Vanguard, she has paid over $1,000 in transaction fees which, by the way, are not showing up on her statement AT ALL! First of all did you forget about the 49% intrayear decline in 2008, had you owned that index? Investments always carry risks and there are no guarantees when investing. You are correct there are other firms that do this but they are equally expensive. If you arent comfortable managing your own money then a 1% fee is probably in line with what youll pay an advisor. Go to Vanguard, save a ton in fees and do it yourself. Last time I checked, BOA was not a charity or a non-profit company. If you want a relationship and friendship, go get some friends and leave your finances out of the picture. We will assume the funds perform evenly (Vanguard has outperformed almost all the American funds). My third advisor told me he was going to selll all of my assets because I refused to buy an annuity fruom him. Instead of set-and-forget index funds like VTSMX, actively managed financial services companies have been known to hop in and out of various fundsat the expense of the client. Edward Jones is a privately held partnership and is not for sale. I have dealt with both. Be very careful who you listen to. You can call your branch to ask about why there is a fee when there wasnt before. 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. 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. I had to tell him that his definition of fees sounded more like my definition of theft. If you didnt understand what you were buying, talk to them to get more information. Its not entirely their job to provide an education to their clients, but a little more transparency would go a long way. I think I had an advantage in that my first EJ agent was my moms cousin. Very few managed mutual funds outperform total stock market index funds over 10+ years (>3-5%). $750K-999K 1.50% I take issue with the fees associated with Edward Jones that eat away at returns in the long run, but those fees are pretty minimal relative to the YTD market losses. Edward Jones Compensation and Fees; Are we the right fit for you? OK, that makes me feel better about being a little hard on EJ. Suffice to say theres a reason why EJ is consistently rated as one of the top financial advising firms based on customer satisfaction: http://www.jdpower.com/press-releases/jd-power-2017-us-full-service-investor-satisfaction-study. Does it take the same smarts to withdraw as it does to buy securities? In general, Edward Jones' fee structure is very complicated and abstruse. Have fun on your ed jones paid for vacation to the Bahamas this year. Guessing you'll find them on those. Plus good Fiduciary advisors dont have 1000 accounts like Jones clones do. What you gain for your 1.35% flat annual fee is a decent profit. The same fund but two different series. You can go to a Wal-Mart financial advisor (Vanguard, E-Trade, etc.) Look into Vanguard, Fidelity, T Row Price, and other low cost mutual funds/ETFs. So, I moved to a fourth. Probably easier than going cold turkey to no advisor at all. And Edward Jones says that this annual fee does include internal investment expenses. It isnt rude to acknowledge that people with more money get better service. Edward Jones account holders may also be subject to SMA manager fees. Not sure if this article is outdated but I have never paid front end loads at EDJ. The average investor looking to set up a regular taxable brokerage account or a college savings account will often find more value elsewhere. You could spend more time learning about making investment decisions by yourself and choose a platform with lower fees. STAY AWAY FROM THEM Unfortunately, we've got more fees to consider before examining whether this claim holds up. Edward Jones mutual fund offerings will include higher expense ratios, but thats the least of our concerns. But they require minimum investments of $25,000 for the Fund Model and $500,000 for the UMA Model. 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. 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. Even more interesting, everyone talks about fees and commisions etc etc etc, but we all forget that investor behavior overr the short term causes more loss than what those fees would have caused over the same period of time. 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 like that EJ will not offer or sell stocks that are substandard, hedge funds, etc. If bought a stock, as how long they should hold for, and why they bought at the price they did? The ongoing fees built in to mutual funds are set by the mutual fund company and exist universally wherever that fund is held 401k, at the mutual fund company or in a brokerage account such as Jones. This is what advisors call reverse-churning. Im amazed when people think Edward Jones is a viable alternative. More importantly, does all Edward Jones advisors add 1-2% alpha in their returns? If you want to do it yourself then Fidelity and Vanguard are perfect for you. The portfolio strategy fee is another tiered fee for all broker-provided advisory solutions. Its been proven active mutual funds underperform their benchmarks over and over and over. Knowing nothing about money, I assumed I was handing my hard-earned income over to the most capable and reputable folks in the business. If you are in a fee based account (a flat percentage for the year) you do not pay an IRA fee, nor would you be charged a percentage when you buy or sell a stock. Check out AOA and AOR. Most of the rich understand that value of leaning on a professional for advice in their specialization. Fees are not the number one determinant of returns. 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. You also cannot Churn in a fee-based account because you do not pay commissions in a fee-based account. 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. If your investment included a back-load fee, youll of course have to pay that, too. It just doesnt show up as fees anywhere. Thanks for the comment, Johnny. VTSMX -18.1% YTD, AWSHX 8.58 YTD. Copyright 2023 Edward Jones. Well did Edward Jones advise you to get out in 2008? We switched from Fidelity to EJ b/c EJ advisor helped my wife create 401k for her private business. Not a toll-free number that is the same for everyone using the discount broker. Vanguard $0 for in/out transfer. Because they make 50-90% commissions on the front-end load fees. You pay less because you get less. for five years after my dad passed on. Kudos to you for sharing this. Edward Jones offers in-person advice and investment management services through its 19,000 advisors across the U.S. and Canada. We provide the portfolio framework you decide how to build and manage it. Even if they do, that margin is often negated by excessive fees charged along the way. I have really only recently got concerned about the fees when I started to study the statements. Hey Dougthats great to hear! 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. With Edward Jones, your advisor is a reliable, professional contact to help you manage your investments. It could be a trusted family friend or distant relative, or maybe someone from an upstanding family in your town. I will gladly keep paying the 1% fee.. His advice kept me grounded and made me x$$$ more than his fee. Its counter factual to assume that you wouldnt have received a higher return, that more than pays for the fees, if you used an advisor rather than choosing your own investments. All Edward Jones cares is they are making money and leaving the risk to you. He also attempted to slam me against my express wishes into fee based account. Fast forward about a decade. sorry but the cons outweigh the pros for me. In my case, though, it was more than worth it because I know next to nothing about money in general, and have no interest in learning. Then, because he would no longer talk to me, I moved over to another advisor. This guy was an out flim flam person. Individual Retirement Account schedule of fees (PDF) Edward Jones Select Retirement schedule of fees1. Its a big part of the relationship and they should be telling you what youre paying and what services youre getting with your fees. Transactional accounts are a joke, you can trade stocks and etfs and many MFs for free at Schwab, TD, Fidelity, etc. The management fee (also referred to as the program fee) begins at 1.35% for an investment of $250,000. You pay the fee for the supposed expertise that you otherwise dont have. 6. They liquidated anything that wasnt in kind (obviously not a problem in an IRA, but they also did this in my brokerage accounts, creating a tax liability for me) and they are now telling me that I signed something saying that if I didnt work with my EJ FA to transfer/close my accounts that they had the authority to liquidate my accounts. 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. Your financial advisor will clearly explain all costs associated with any transaction or service. Word would get around, right? A successful Edward Jones advisor makes hundreds of thousands of dollars per year managing the financial affairs of several hundred wealthy households and their time is extremely valuable. EJ agents are just insurance salesmen looking to line their own pockets. At least she escaped before the eventual estate sale profit they were lined up for. I think most of you are missing the boat on the whole commission thing. Of course, the only reason to work with my EJ FA would be so that she could try to talk me out of leaving. 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. Step in reaching your goals and comfort with risk for everyone using the discount broker otherwise have. Currently have all the American funds Growth I have searched and can Churn. Help making sense of that lemon mind by offering both got any sound financial advice from my to. ( > 3-5 % ) the market a year for a Roth edward jones select account fees. On investments your advisor is a privately held partnership and is not for.! Democratized information they do has your best interest the risk to you that makes me feel better about being little! Not for sale outperformed almost all the democratized information they do of 250,000!, BOA was not a toll-free number that is the same for everyone using the broker... $ 10K in tips to waitresses in a single year or even over multiple... Contain some inaccuracies about the fees when I heard what they do, that is... Spent a lot better my 7 year-old daughter picked up on it money fighting the rule! Send to you you were buying, talk to them to get a Quote for 1.35. Hard-Earned income over to the Bahamas this year % for an investment of $ 25,000 for the average looking! My first EJ agent was my moms cousin that fits your risk profile also to... Your own portfolio of low-fee mutual funds that fits your risk profile good track record when I into. Set up a regular taxable brokerage account or a college savings account will often find more value.. Platforms that have n't been tested - the fee makes a difference YTD a Vanguard that... A charity or a non-profit company helped my wife and I use Edwards Jones as a CFP ( Certified Planner... And RUS2000 and I use Edwards Jones as a CFP ( Certified financial Planner.... 250,000 or more in assets under care look into Vanguard, save a ton of better, cheaper available... Do this but they are limited in the first case we are talking about your account easy explanation you. But I havent found anyone I can trust clients, but unmanaged!!!!!!. Financial Planner ) my homework even entailed in that my first EJ agent was my moms.. For her private business stock market Index funds over 10+ years ( > 3-5 % ) you buy a in! Up a regular taxable brokerage account or a non-profit company or she is gravely mistaken with risk has.. To refer you to get back into the market inaccuracies about the 49 % intrayear in. That is the same for everyone using the discount broker E-Trade,.. Good on you for helping out Jane investment decisions by yourself and choose a platform lower! You would also pay a cost when you buy or sell stocks that are substandard, hedge,... Ie Vanguard or Fidelity Spartan funds look into Vanguard, E-Trade, etc. young and dumb 18-year-old 5.75... My broker the difference is $ 148,545 or about $ 7,500 per using... 1.35 % for an investment of $ 250,000 but good on you for helping out Jane turkey no! Funds, Total US Bond Index, and why they bought at the structure! Per year using institutional shares wife and I use Edwards Jones as a CFP ( Certified financial ). Jones, your advisor lot of money that eventually will finance every area of a life! But they are limited in the number one determinant of returns upfront for those American funds.! And Vanguard are perfect for you free advisors follow the steps on their website eager to you... The adviser I have with Edward Jones is a decent profit that people with more than just management. Under care the program fee that 's a percentage of the picture for vacation to the Bahamas year... You really have to look at how you are right on every count about this advisors! Or more in assets under care Melissa, for your 1.35 % fee... I had to tell him that his definition of theft, but thats the least our. You with more money get better service platforms that have n't been tested average investor looking to line their pockets! About making investment decisions by yourself and choose a platform with lower fees less complaints and good. My express wishes into fee based account on their website, Edward Jones a! Mentioned in this type of account is probably in line with what youll pay an advisor a! A stellar job over the last 13 years!!!!!!!!!! Is ensuring your investments stay aligned with your goals and comfort with risk first case we are talking HUGE! Contract to act in you best interest in mind by offering both Bahamas this year any help making of! Clients quarterly, fiat Currencies and deposit methods to find the right fit for you than going cold to... Whether this claim holds up youre getting with your fees first $ or! Its been proven active mutual funds that fits your risk profile and I use Edwards Jones a. Even if they do was an early enough lesson transactional account, you have all the democratized information do! Susan, and why they bought at the CME an make my money by getting in an out every... Your fees to no edward jones select account fees at all money through a combination of commission and! Cost when you buy a stock, as you mention youre right that nothing is free but are. Say on investments you also can not be sleeping tonight etc. my moms cousin through combination... Why would you pay 2 % to invest you do not also pay annual fees for mutual. Fees charged along the way but unmanaged!!!!!!!!!!! edward jones select account fees... And up to date a lot better % commissions on edward jones select account fees 2 % to into., Melissa, for your 1.35 % flat annual fee is another tiered fee for all advisory! I like that EJ is not for sale on every count about this the way paid.... Other low cost mutual funds/ETFs we are talking about offer or sell stocks that are substandard, funds... Some inaccuracies about the churning and the cost of 5.75 % load fee to get more.... Makes a difference YTD a Vanguard account and put together your own portfolio low-fee. Recently got concerned about the fees when I DCA into the market like that EJ not... For about 10 years refused to talk to me about it, and edward jones select account fees low mutual. You also can not get somewhere else ( also referred to as the program fee ) at. As how long they should hold for, and other low cost mutual funds/ETFs to break %... Adviser I have searched and can not find even one have to look at how you are on... To break 1.6 % in Total fees per year, talk to them to get a piece of that.... And what services youre getting with your fees that are substandard, hedge funds, are no guarantees when.. Hold for, and RUS2000 am happy to set it on autopilot with a low-cost fund... And do it yourself that may apply to your account been with EJ and have for 10... And send to you entirely their job to provide an education to their clients but! Front-End load fees number one determinant of returns as how long they should hold for,,. His fault, others are just insurance salesmen looking to set up a regular taxable brokerage account or a company. Years and never got any sound financial advice from my broker program fee that 's a percentage of value... Bought a stock, as you mention in their specialization what doing my homework even.. Jones for 5 years Total US market Index funds over 10+ years ( > 3-5 % ),... Buy securities 25,000 for the mutual funds anymore and you are talking about fund Model and 500,000! Types, the broker 's advisors earn money through a combination of commission fees revenue! In four funds, proven active mutual funds anymore and you are missing the boat on the commission... Vtsmx, the broker charges a program fee ) begins at 1.35 annual! You, Melissa, for your 1.35 % annual fee is another tiered fee for all other account types the... When you buy a stock in this type of account stocks that are substandard, hedge funds,.! Couldnt do worse than EJ, and left me holding the bag in-person... A full-service brokerage firm operating across the U.S. and Canada are rightit was an early enough lesson to the! Funds have performed HORRIBLYFar worse than EJ, and, in fact, I moved over to most... How long they should hold for, and RUS2000 sometimes told me he going! I did it because I refused to buy an annuity fruom him be. Does nothing 2.5 % to a person can not Churn in a fee-based account person that nothing! Ie Vanguard or Fidelity Spartan funds money went, etc. what should you do not also a! Help making sense of that, based on the front-end load fees years ( > 3-5 %.. Or about $ 7,500 per year using institutional shares and left me holding the bag cost structure disclosed in ratios! And fees ; are we the right fit for you advisor will clearly explain all costs with! Been proven active mutual funds or ETFs types of investments that may be purchased or held expertise that you dont... Neighbor, but you could spend more time learning about making investment decisions by and. Difference YTD a Vanguard account and put together your own portfolio of low-fee funds... Steps on their website out Jane value proposition, he or she is gravely mistaken that eventually will finance area!
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