10 Best Financial Advisors of March 2024 - NerdWallet (2024)

FAQs

Who is the most trustworthy financial advisor? ›

Famous financial advisors became household names for a variety of reasons. Benjamin Graham and Warren Buffet are among the most common traditional financial advisors that relied heavily on value investing. Several financial advisors such as Dave Ramsey and Robert Kiyosaki are most known for their print publications.

Verdict — Is Edward Jones worth it? For the average investor, Edward Jones is probably not the best choice. You could spend more time learning about making investment decisions by yourself and choose a platform with lower fees.

Key takeaway: It's no coincidence that most American millionaires use a financial advisor. With an experienced financial advisor on your side, you are more likely to take the strategic actions necessary to achieve your long-term goals.

We are committed to providing dedicated, ongoing trust administration that upholds your wishes for the future. Working with a corporate trustee like Charles Schwab Trust Company can give you: Objectivity. As a fiduciary, we will administer your trust in a professional and impartial manner.

Among independent advisors, Commonwealth ranks highest in overall satisfaction with a score of 918. Raymond James Financial Services (842) ranks second and Ameriprise (821) ranks third.

Generally, having between $50,000 and $500,000 of liquid assets to invest can be a good point to start looking at hiring a financial advisor. Some advisors have minimum asset thresholds. This could be a relatively low figure, like $25,000, but it could $500,000, $1 million or even more.

Is Edward Jones a fiduciary? ›

Edward Jones serves as an investment advice fiduciary at the plan level and provides educational services at both the plan and participant levels, if applicable.

Understanding the advisor's educational background and professional credentials is also important. The financial world is complex and you'll need an advisor who has shown they're competent at handling it. Look for designations like CFA or CFP to ensure the advisor has gone through proper training.

Edward Jones Select Account

Commissions and sales charges when you buy and sell investments, generally ranging from 0.75% to 5.75%, which may be lower and vary based on the type and amount of the investment you trade. Some investments have third-party internal expenses.

All periods show annualized returns. All data is for the period ending 12/31/2022. Past performance is not a guarantee of future results. Since inception in January 1993, the Edward Jones Stock Focus List has provided an average annual total return of 9.6% compared to 9.5% for the S&P 500.

Is Charles Schwab better than Edward Jones? Whether Charles Schwab or Edward Jones is better will depend on your individual needs, but Charles Schwab generally offers lower fees and more investment options.

Before making financial or investment decisions, U.S. News recommends that you contact an investment advisor, or tax or legal professional.

There are a few ways you can check if a financial advisor is legitimate. You can check with the Financial Industry Regulatory Authority (FINRA) by visiting their BrokerCheck website or calling (800) 289-9999. You can also check the SEC's Investment Advisor Public Disclosure (IAPD) website.

Significant loss threats include advisor death or disability, key person loss, an unexpected disaster (natural or otherwise), lawsuits, and failure to plan for business succession.

While 1.5% is on the higher end for financial advisor services, if that's what it takes to get the returns you want then it's not overpaying, so to speak. Staying around 1% for your fee may be standard but it certainly isn't the high end. You need to decide what you're willing to pay for what you're receiving.