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About Edward Jones
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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.
Top Edward Jones Reviews
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.
Edward Jones Reviews
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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
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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.
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.
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!
My parents did business with Edward Jones for over 20 years before their death in the 1990s. Edward Jones at that time was a consumer oriented, locally managed, franchise based company. Consequently, when the opportunity arose, I also chose Edward Jones to oversee and manage part of my investment portfolio. I do business with Fidelity, Schwab, and Merrill Lynch as well. Of all of these brokerage houses, I can say that Edward Jones is the least consumer friendly, has the poorest website and Internet services, and the most expensive fees of any of the investment companies. If you want a brokerage house that charges extraordinary fees, in my case $400-600 for a stable, non-traded stock portfolio, to warehouse your stock portfolio, and a poorly designed website that makes determining your profits and losses an exercise of futility, then I would recommend Edward Jones.
When I requested that my fees be reimbursed to me, the current advisor that was assigned to my case responded, “I will refer the matter to the home office.” At the time, six months into the 2022 year, during which no significant trades were carried out and Edward Jones were functioning strictly as a warehouse for my stock portfolio, I was being charged $400-$600 a month. After a series of frustrating conversations with the advisor, I decided to terminate my relationship and move my stock portfolio to Schwab, where I could have better self-management control of my portfolio. The website is poorly designed and does not allow you to identify quickly changes in stock valuation. Even if the fee relationship had been reconciled, the poorly designed online website justified the change. Unfortunately, Edward Jones has failed to keep up with the times.
Great pep talk, nothing really fiduciary letter from advisor, poor performance for a year period, and having my own brokerage account with the same amount to check performance, stayed in green, meantime Edward Jones lost money, their fees structure helped, no doubt as well. Stay away!!!
I've been dealing with Edward Jones for about 10 years and so zero growth! Only losses and bad advice. I recently sold my house and gave them my life savings. They forced me into the bond market assuring me it's the safest market. 8 months later I lost 20 percent of my life savings, all I got was assurance that it will rebound. I have no faith in these people. I will be transferring my other account next week. There are so many other options out there, do your research and stay away from this Ponzi scam.
Edward Jones Company Information
- Company Name:
- Edward Jones
- Year Founded:
- 12555 Manchester Road
- St. Louis
- Postal Code:
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