Here are some key takeaways:
– Edward Jones is a local marketing machine. They have over 41,000 advisors and 16,000 branches. They are constantly adding clients to replace the ones who leave. Edward Jones is expensive for their scope of services. Save money and find a better solution like an independent RIA who is fiduciary for you and your family?
- Edward Jones is expensive. You don’t need to pay 30% to 50% more for an advisor. High fees will impact your retirement. Fees matter! We will show you the numbers. If you have over $300k in a portfolio, schedule a meeting below (including your 401k).
- What is your scope of work? Portfolio management? Financial planning? Tax strategy? Insurance? What are you actually paying for?
- Edward Jones has a lot of sales reps/ brokers/ advisors and real estate. This is one of the primary reasons that fees are so high for clients.
- Most of their advisors are not a fiduciary for clients. Edward Jones also uses a lot of expensive mutual funds like American Funds and other companies that have 12b-1 fees. These fees are a kick back to the broker or firm for using the mutual fund.
- Edward Jones has expensive funds and revenue sharing — The Balance article
- Edward Jones – See these Consumer Affairs Reviews
- Should I invest with Edward Jones? How much are my total fees? Why is Edward Jones so expensive?
- Also, see this page Should I invest with Edelman Financial Engines?
When I started my firm in 2010, we started with the vision of competitive fees for the scope of work. We work with clients to educate them about investing best practices and help them align their money with their values. We help clients reduce the middlemen (and middlewomen) in the investing process so our clients keep more of their money. We help clients to make work optional.
– We are are a low-cost, fee-only Advisor. We are a fiduciary for you 100% of the time. Our fees are 0.6% on the first $1 million and they decline above $1 million. If you have over $300k in a portfolio (including 401k), schedule a meeting below.
Now is a great time to get a free 2nd opinion via Zoom meeting (see calendar below)! We will give you objective feedback, identify red flags and give your confidence about your future path. It is important to find out if you have areas that can be improved. We help clients make work optional & live the best life possible.
