Can you transfer stock from Edward Jones to Fidelity?
All you have to do is fill out a request via their site. Provide your information from Edward Jones. If Edward Jones decides to charge you for leaving their firm, Fidelity will cover your ACAT transfer fee.
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Edward Jones vs Fidelity Investments.
| 47% | Promoters |
|---|---|
| 12% | Passive |
| 41% | Detractors |
| Fidelity | Schwab | |
|---|---|---|
| Account transfer out | $0 | Full: $50 Partial: $25 |
| Minimum initial investment | $0 | $0 |
| IRA closeout fee | $0 | $0 |
| Reorganization fee | $0 | $39 |
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Common compatible account types.
| Current account type | Fidelity account type | Are they compatible? |
|---|---|---|
| Roth IRA | Roth IRA | Yes |
Re: Advice on Transferring Out of Edward Jones
You WILL be hit with a $95 account closure fee. This fee is per account. Before you do anything else, download every EJ statement you can find before you initiate a transfer.
Simply call your financial advisor or transfer funds online through Online Access, and the transaction usually settles in one business day.
Edward Jones competitors include True Link Financial, BlackRock, Northern Trust, Goldman Sachs and Transamerica. Edward Jones ranks 1st in Gender Score on Comparably vs its competitors.
Edward Jones ranks No. 303, with more than $12.3 billion in net revenue in 2021, an increase of 22 percent over 2020. "We recognize the incredible sense of responsibility we have as a Fortune 500 firm with branch presence in 68 percent of the counties in America," says Edward Jones Managing Partner Penny Pennington.
Is It Worth It? There's no question that Edward Jones charges some hefty fees. But again, it offers an experience that you can't get at every firm. If you prefer working with a single advisor who can build a long-term, in-person relationship with you, EJ could be worth considering.
The good news is that the bait — Fidelity Zero Total Market Index Fund and Fidelity Zero International Index Fund — is as advertised: There are no hidden fees, and costs are not simply waived temporarily.
Does Fidelity charge a monthly fee?
As noted above, Fidelity Go charges no fees for accounts below $10,000, and a flat monthly fee of $3 for account balances between $10,000 and $49,999. Fidelity charges a 0.35% management fee, with no additional investment expenses, for accounts $50,000 and higher.
Fidelity makes money from interest on cash held in custody for clients, stock loans to short-sellers, and portfolio margining.
Why can't I make online withdrawals from SIMPLE IRAs and Keogh plans? SIMPLE IRAs and Keoghs are not eligible for the online withdrawal option because of the tax reporting requirements. For withdrawal options on these types of accounts, contact a Fidelity representative at 800-544-6666.
Fidelity's account minimum is $0*, which has become the industry standard for brokers we review, as many no longer have a required minimum to open or maintain your account. Some investment choices, such as mutual funds, may require a minimum initial investment.
Electronic funds transfers (EFT) from Fidelity accounts are generally received within 2 business days. EFTs sent to Fidelity accounts are typically available within 4 business days, but the funds are usually available for trading before settlement.
Is It Worth It? There's no question that Edward Jones charges some hefty fees. But again, it offers an experience that you can't get at every firm. If you prefer working with a single advisor who can build a long-term, in-person relationship with you, EJ could be worth considering.
Re: Am I Thinking Correctly? [Moving from Edward Jones to TD Ameritrade] In short, most likely will be moved no problem. For each type of IRA (Roth - traditional - brokerage) you will have a separate account for TD but can link the login so you can see all from 1 account.
Edward Jones is a subsidiary of The Jones Financial Companies, L.L.L.P., a limited liability limited partnership owned only by its employees and retired employees and is not publicly traded.
