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About Edward Jones Reviews
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Edward Jones is a wealth management and advisory company that offers a variety of investment accounts and services. With Edward Jones, you have access to in-person financial planning with a professional advisor and some basic online account management tools. Just compare its fees and commissions to the competition to be sure you’re not overpaying.
Pros & Cons
- Access to banking features
- Investment services
- Personalized, in-person advice
- No brokerage account monitoring
- Commission and trading fees
Edward Jones is a wealth management company that coordinates financial, tax and legal strategies and offers a broad selection of investments. However, it charges commissions and trading and management fees.
My financial advisor is very detailed and keeps an eye out for my portfolio. He has annual meeting with me, and keeps me abreast of the market tribulations. … He is approachable …...Read full review
We love our financial advisor through Edward Jones. He has been so awesome through everything. My husband retired in November 2019, and our financial advisor has been so helpful. ...Read full review
What is Edward Jones?
Edward Jones is a traditional wealth management company with financial advisors across the country. The company provides comprehensive investment services, including:
- Retirement accounts, such as traditional IRAs, Roth IRAs, Roth conversions and 401(k) rollovers
- Education savings, such as 529 plans, custodial accounts, Coverdell education savings accounts and zero-coupon bonds
- Investments, such as stocks, bonds, mutual funds investments, ETFs, CDs and unit investment trusts
- Insurance products and annuities, such as life insurance, long-term disability insurance and long-term care insurance
- Cash and credit accounts and services, such as money market funds, credit cards, loans, savings accounts, bill pay services and check writing
Edward Jones also offers financial planning for business owners and self-employed individuals who want to save for retirement or need assistance with cash management.
What does Edward Jones do?
Edward Jones partners clients with financial advisors who guide investment decisions and assist with formulating wealth management plans. Edward Jones works with you to develop an investment portfolio based on your individual needs, financial goals, time horizon and risk tolerance. The company selects and recommends investments based on its analysis of publicly traded stocks, bonds and mutual funds by track record, debts, cash flow, credit risk, people, process and geography.
With a traditional brokerage account, you take on the role of building and managing your portfolio with expert advice from a personal financial advisor. You pay a commission fee for buying and selling certain investments.
You can also choose an advisory solutions account to allow Edward Jones to take care of day-to-day portfolio management. The program fee for the advisory solutions account includes financial advisor services; trading costs; performance reporting; the evaluation and selection of investments; and other personalized services. Edward Jones also offers a comprehensive client consultation group that works with your CPA and attorney to address your situation and align strategies.
Edward Jones fees
Edward Jones charges differently depending on what services you use:
- It charges a commission on trades up to 2.5% of the principal amount or a minimum of $50 per trade. Most trades also incur a $4.95 transaction fee.
- Sales charges ranging from 2.25% to 5.75% apply to mutual funds, 529 plans, variable annuities and fixed-income mutual funds.
- Its advisory solutions program fee begins at 1.35% of your total investment, but the portfolio strategy fee is 0.09%.
Edward Jones FAQ
Where is Edward Jones available?
Edward Jones is available throughout the U.S. Not all services are available in all areas, though. Visit its website to find an office location near you.
Does Edward Jones have in-person services?
Edward Jones specializes in in-person financial advising and wealth management services. Visit a local branch to meet with an Edward Jones financial advisor.
Can I sign up for Edward Jones online?
Yes, you can meet with a financial advisor via web conference or in person to sign up. Online account management tools are available too.
What kinds of investments does Edward Jones deal with?
Edward Jones deals with stocks, bonds, mutual funds, annuities, college savings, retirement accounts, ETFs, CDs, unit investment trusts and fixed-income investments. The company also handles trusts and estate planning.
Is Edward Jones good?
While Edward Jones fees are higher than those from many robo-advisors, clients enjoy the benefits of having a dedicated financial advisor working with them on the details of their investments and managing their finances with the bigger picture in mind. Banking features such as online bill pay, check writing and personal lines of credit allow you to manage finances conveniently. For customers who want a personalized, in-person approach to wealth management, Edward Jones offers one-on-one financial advising at its local branches.
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Reviewed July 30, 2023
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.
Reviewed July 21, 2023
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.
Come to find out, Edward Jones had taken over all access to our accounts including the messaging feature, I'm guessing because it was mentioned that his wife was requiring him to drop us as clients. They had confiscated his personal phone and they were reading his personal text messages and had the police call us to tell us we need to call the corporate office if we wanted to transfer our accounts out. We also received a registered letter telling us they were liquidating our accounts and we had 30 days to move our money by calling customer service.
Ironically, they charged us our monthly fees the exact same day. When we tried to call, wait times were lengthy, so I tried again to send a message asking for an email contact to help us out, crickets again. It felt like some odd cult experience where Edward Jones took over the personal affairs of our advisor and former friend, forcing him to ignore us while they did the same and just held our money hostage. There were no threats ever made or anything remotely violent by either party, so it was all just really strange. I'd stay away from these guys at all costs, I'm not sure what's going on with this place or why they feel the need to intervene in their advisor's personal lives.
I regret ever moving our money here, we didn't realize many gains in the 3 years we were there and the fees were a bit over the top. I'm not going to call out our advisor personally as I don't place the blame on him for working for a shady place like Edward Jones. I only hope he can find a more ethical place to work. I was finally able to get T. Rowe Price to move one account out, but we're still waiting on our other account and I have no feasible way to contact Edward Jones to find out the status unless I want to wait on hold for an hour.
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Reviewed July 17, 2023
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.
Reviewed April 25, 2023
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.
Reviewed March 25, 2023
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
Reviewed March 12, 2023
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.
Reviewed Jan. 15, 2023
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.
After further research it's been verified that Edward Jones is in fact nothing more that a sales business that hires kids straight out of college that knows nothing about investing and merely there for collecting upfront commission. They are a nothing more than salesman, period. Would have been better off with a bank CD collecting interest. If you're thinking of using them I highly recommend you DO NOT. The funds they they want you to invest in are that of their own, they make commission on buying "Their" funds as well, and it's all they will recommend. "Their" funds are highly manipulated to their benefit. I discovered this unfortunately far too late. Don't make the same mistake I did, run far and fast from these fraudsters and know your money is safe.
Reviewed Dec. 13, 2022
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.
Reviewed Nov. 5, 2022
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.
Reviewed Oct. 5, 2022
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!
Edward Jones Company Information
- Company Name:
- Edward Jones
- Year Founded:
- 12555 Manchester Road
- St. Louis
- Postal Code:
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