The oldest fund launched was in 1980. Cons: Everything. However, the 2% charge is assessed even if you lose money in other years, making the loss all the more painful. is driven to produce commissions and to sell you products. As a young woman, I did not appreciate him speaking to me about the $10,000 I was willing to invest like it was just enough to buy a coffee with. Please note that not all of the investments and services mentioned are available in every state. Understanding How We Are Compensated for Financial Services. He is a Certified Financial Planner, investment advisor, and writer. In a matter of a few months now I have lost 10% while the Franklin funds I had my money in have gone up over 10%. Pros: Looks for ways for me to make money and tells me when he made a mistake in my investments. Brokerage Accounts vs Mutual Funds: Which Is Best for You? F.A. Since I've been with EJ for the past seven years, I have never felt that I was being steered into an investment for the sole purpose of EJ making more money from me. Wanted to make a trade today, 9/14/18 and since my rep was out I called the 1-800 number. Her adviser, Ulana Berenda Emerson who works out of her Port Jervis, N.Y. office became very nasty and started harassing my 66 year old Disabled mother in law over the phone and via Facebook. However, Edward Jones does not consistently or completely invest client assets in no-load funds, which may be more advantageous for investors than load funds that have sales charges. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Insults me, then lecture me!!! Want you to ok in writing their conflicts of interest so they can put their commissions first and not do what is best for the customer, as they have for years but it is no longer legal. 9/30/2019, Cons: Fees, fees and lots and lots of hidden fees. are performing reasonably well. I started my career there. by Dennis Stine, I just received my fifth set of documents in the mail a few days ago.It's now been over two months since my father's passing and the completion of the first set of documents. They make a lot of money during good times but can go months without pay during the bad times. I have not sought services from any of EJ's competitors because I really like and trust the EJ adviser who I currently have.Any full-service broker is in business to make money. 3/6/2017. false information, speculations, or to remove spam. by Pam W., I have invested a relatively small amount with a jones advisor here in DeKalb County GA and he is a total con artist. There is no justification for it and I think it is a failure of our society to put a stop to it. By the way, if you retire they fight against you drawing any more money than required by tax laws and want you to live on Social Security (after working so hard and saving all those years) so as not to cut into their money. The Edward Jones brokers seem to think that it is a good product, the other brokers accuse them of drinking the "kool-aid". Inherited account from death in the family. In summary, Edward Jones attempts to be the advisor next door, so to speak. Cons: Bought the wrong bonds and did not notify me of the withdrawal fees for bonds. New Rules for Retirement Plan Contributions, Withdrawals Short /Radio version: PSA: New Rules for Retirement Plan Contributions, Withdrawals TBA: Jan. 20, 2020 Words: 189 (excluding disclaimer, FA’s name, address/phone number) Do you have an IRA or 401(k)? Several of the stock recommendations that they made went completely bust, many others were dogs. Monthly non-sales presentations by other brokerage firms to discuss yearly market projections, willness to listen, willing to work with my schedule, No two Brokers or investors are the same - it sounds that it's sometimes a challenge to find a good Broker. Edward Jones' success rate sounds positively dismal, but it is nearly twice as good as the industry average, according to Training Magazine. The wealth management service, known as Advisory Solutions, allows clients to invest in a professionally managed portfolio. I usually accumulate several thousand dollars in my bank account yearly and I asked my EJ account if I could invest it in some account in EJ. By using a fee-only advisor, you’ll get unbiased advice, and you’ll likely reduce the overall costs on your investment portfolio. However, a deeper look at how the firm achieved those results reveals that investors may be going back to some bad habits. Edward Jones gives you all that you need to be successful. 2/3/2017. by Maxrates, His depth of knowledge enables him to make solid recommendations and suggestions that will best serve his clients. This company does respond, but not as often as you'd expect them to. They try to have lots of letters behind their name but that means nothing. Our first advisor was very inefficient and left the company. I've found my advisor to be willing to talk about the full range of investing possibilities. The overall rating of the company is 1.4 and consumers are mostly dissatisfied. by Clete the Boyer, 10/23/2020, Cons: Good sales people, knows nothing about making money. Seems high to me. 3/19/2017, Cons: Extremely poor recommendations; EJ analyst recommendations are extremely poor. If you are a patient investor who doesn't mind the buy and hold philosophy, Edward Jones is your company. For a good overview of choosing investment advisors see this article on Types of Investment Advisors. Cons: Somewhat lacking in investment knowledge in some areas. Once you get +1M in American funds there are no overt fees, I am sure there are fees under the covers, but they seem minimal. The whole Guided Solutions things is kind of a ripoff anyway, they charge a high amount of money so supposedly you can trade more and not pay a commission. The average manager tenure for all managers at Edward Jones is 13.6 years. However, I keep some in the bank to pay monthly bills! You can ask any veteran that has been at Jones for any length of time if they can think of just one (1) ‘successful’ advisor that came to Jones from another firm. Who doesn't love being #1? 7/22/2017. Dropped with no warning and given to another broker. I just read all of these reviews and everything just clicks, these guys are trained to take your money! 9/23/2017, Cons: Never helped, never met, just phone appointments. Jones offers a great work-life balance, a competitive benefits plan, competitive pay, and fairly good job security for those in non-commission positions, however; the whole place is a ruse. Retirement savings 8. Was told each transaction fee was $50. I had managed my whole portfolio for 20 years before I switched over to EJ. The commissions and fees were over $1000! Sales and fee-driven, they do NOT act in the best interests of the client. Edward Jones fought the requirement with all their might and dollars. Now I know what's going on, but I don't trust anyone else nor know what the heck to do. Edward Jones’ primary focus is managing portfolios for individuals and families, as well as some wealthy investors, charitable organizations, pension plans and other businesses. Answer . The average expense ratio from all mutual funds is 0.92%. Jones is not a ‘bad’ company and they have some good people that work there, but they are a company based on selling investments – not managing money. Northwestern Mutual is a glorified insurance company. The advisor is not a bad person, but he definitely takes advantage of the lack of knowledge my grandpa has. Was told the Franklin Funds I have our volatile and I need to move my money into more stable funds which I believed them. I AM. Hi, Please don't invest in Edward Jones and never trust them. I blame Lincoln. Cons: Wasted my time and cheated tons of my hard earned money. FA talked with us but explained only a small part of how their investments work. The Good, the Bad and the Loonie After a long descent that began in 2014, the Canadian dollar (CAD) has rebounded modestly. Initial Edward Jones complaints should be directed to their team directly. This was a simple request to sell everything - no advice was given to me by the advisor - so I'm not sure how they justify over $1000 of commissions. 5/17/2017. "The primary selling point of Edward Jones is their broad network of local offices. by anonymous, StocksBoth companies also have annuities, personal advising, and savings accounts available.In addition, Edward Jones offers credit cards, life insurance, long-term care insurance, long-term disability i… And she tells me with every change what it's going to cost. They are money hungry thieves that will resort to Harassment and violence if you cancel your accounts with them! Jones is not a ‘bad’ company and they have some good people that work there, but they are a company based on selling investments – not managing money. And they do. My money, my account and I can't trade. criminals. Pros: My adviser is very knowledgeable and trustworthy. ... Not bad, but could've been way better. My agent however does a special report for me monthly! The Edward Jones Financial Advisor Opportunity Webinar. Moved cross country and moved my EJ account to new area. He got so upset and rude, I offered a hand shake and he said he would not shake my hand! Good News, Bad News in Edward Jones Retirement Survey Portfolios show signs of recovery while number of those saving declines. Now that the regs have finally gone into effect(watered down and delayed) they are asking customers to sign away their rights. This particular advisor has no idea what he is doing - none. 4/1/2019. This is not a firm to use if you want to do a lot of trading. Administrator Terri Volpe. In four years, in spite of a very strong market, I lost about 30% of my portfolio to really bad investments. 3/10/2017, Pros: *Professional/effective communicator *Excellent assessment of client's financial goals *Amazing Sr. 0 0. schaner. Edward Jones Market News Navigation for this site. Edward Jones is comprised of thousands of advisors. So we cannot complain. Rep was not helpful just wanted to close the account and move on! (Oil and gas pipelines.) They are too expensive.Their robo-advisor is not a bad product, but, because of all of the fees associated with it, I got much better returns from my Fidelity Go account. 8/15/2018. Find Reviews and Recommendations for Edward Jones - Financial Advisor: Justin Brough, CRPC® in Ridgecrest, CA. So many fees. What You Need to Know If You Want to Invest in Mutual Funds. 1 decade ago. Edward Jones had 16,095 advisors as of Dec. 31 and some $1.12 trillion of client assets. I live in Shippensburg Pa. by Caroline Akt, Copyright 2010-2021 TopRatedFirms.com. Looks for ways for me to make money and tells me when he made a mistake in my investments. 7/16/2020. I lost a small fortune doing business with them. See the top 50. He specializes in financial planning, investing, and retirement. Everything. Pay attention to your statements. 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