Edward Jones Reviews

My father gave Nicholas ** $120,000 and instead of ever making him one a single penny, he took out monthly fees, lied repeatedly, continuously lost his money, and then refused to return his money when he asked for it. We contacted Nicholas by phone, by email, and by stopped by in person. We were told he would comply and close his account as requested but then he didn't. After a week of never getting his money, I had to send him with his sister, who also had an account with him. He lied to her and said that my father had never asked for his money. After numerous weeks of repeated requests, he finally released his money and my Dad received back $108,000 after years of losses and monthly fees. Nicholas ** is NOT a "Financial Advisor". He is a Financial Thief and a Financial Liar.

One of our good friends became an advisor for Edward Jones a few years ago and we begrudgingly transferred both of our retirement accounts to him. I don't really like friends being involved with our finances but he was just starting out and we wanted to help him out. Well, fast forward a few years and we had a falling out (really just with his wife), though not related at all to him being our financial advisor. We were in the process of trying to move our accounts away from Edward Jones per his wife's request when he suddenly stopped responding to us and we weren't sure how to go about moving things without any help on their end. He would wave at us in passing and still seemed cordial so it was odd.

Held two custodial accounts for my father-in-law's AT&T stock. Which has fallen consistently over the years. Both accounts held identical amounts of the same stocks. I sold all stocks in one account for $70. High, but not abnormal. On the second, they 'couldn't tell me' what the trade cost would be, but it might be as high as $300!! For a a $1500 account!. They then suggested the stock be transferred to an outside account and sold there. WTF. Bandits. Pure and simple. Never use Edward Jones Investments.

I told him to invest 3 to 6 months, when I got the contract it was for 2 and 3 years. I transferred the account to another company, cost me money for his screw-up. Thanks, Mr ** for nothing, Lebanon Va.

In 2019 I wrote a check for $100,000 TWICE (200,000) and for just this one account the fee was over $17,000, and that does not include selling fees and other accounts, they told me that is the way it is and they were in the same range as other advisors, NOT TRUE, plus on top of that we had lost about $359,000 in stock market, and they don't care they are making a REAL good living, before I gave them these checks I asked them to help me with fees a few times. I wish I had left them years ago as I'm 75yo, people you can get is S%P 500 if you don't know anything about stocks and save a lot of money

I was told Ed Jones was different, it seems they are like most large brokerage houses. They have set funds they use our money to invest in. The Big backlash- they'll just watch my money dwindle down down down, and do little or nothing to slow the losses. When I question my broker his excuse You chose that path It will come back blah blah. Waiting for 2 years. There's no accountability.

I was in search of an investment firm to for my daughter so she would have a good start for college. I decided to select Edward Jones because they have offices everywhere and for convenience. Some with staff there and they advised me on select securities they thought would be best for long term growth. Advisor projected with her age (3 at the time) by the time she was 18 she would have roughly 400k, now 12 years later she has exactly 2k less than I initially invested. To make matters worse, I've paid capital gains on money that was NEVER gained to the government. After doing some investigating I've been informed Edward Jones funds are highly manipulated by their own large stakeholder investors that receive alerts to pull their money at "CERTAIN" times. I never received these alerts as a off the street investor as when I spoke to the staff they simply say it's just bumps in the road, it will recover. Now she's 2 years away as has less money than when she started.

In less than 8 months I lost 10% of my portfolio despite steady rises in interest rates, recession fears and a declining stock and bond market. EJ answer was that it will come back, it always does. There are tons of old adages they use to excuse their passive management of portfolios. I expected an advisor who was charging me 1% of my portfolio to help me, not sit on their hands and not move a dime into a better or less risky fund. EJ philosophy is to sit and wait and wait until hopefully their dartboard picks return to at least what you paid for them. They did not and would not calculate an RMD for an account. EJ website is very low tech, you cannot research funds histories, trends, etc. I quit, I could not see ANY benefit for me, only EJ was profiting. I have no plans to use a paid "advisor" again. Take a class or read a book about saving money and investing, know your risk tolerance, do your research, invest confidently and sleep well.

Although I'm conservative I decided to move my 401k to Edward Jones to keep up with inflation. I stated my retirement plans were 2 to 3 years out. I was convinced to get out of my comfort zone to reach a higher goal. After 6 months I had lost 6% of my money so I called stating my concern. Bear with me was the reply but 3 months later I was down 24%. The market will return but not in the time frame I layer out when I invested my money there, so worse decision in my future planning in over 10 years. Investment do grow over time but my plan wasn't listened to and it cost me dearly. Don't use this company is my best advice, but if you invest do it long term because yes the market does come back. But when everyone sees the market going down your money should be protected especially if you plan to retire soon.

Avoid this firm at all costs. They will charge you fees when they buy your investments, charge you monthly fees to do absolutely nothing and will then charge you termination fees when you leave. Their advisors request you to make an appointment just to talk to them and their general Client Relations phone number will keep you on hold for up to 30 minutes or more! Horrible service and very high fees - there is NO reason to use this firm!