Edward Jones Reviews
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Comments about Edward Jones:
These guys are less than worthless. During the last crash I took my money out of equities, I had one account with another broker. They offered to take care of for me - I did not ask for their help but accepted. Not a good move. They sent the request to the wrong address causing a delay and me several thousand dollars. When asked what they were going to do, they just replied 'it wasn't us.' these guys are completely without integrity - not something that should be lacking in your financial advisor. (Never received any real advice.) You will be better off using a bank, at least there you'll have some recourse.
Comments about Edward Jones:
We have had an account with Edward Jones since 2004. During that time, the market highs and lows have pretty much made it impossible to make any headway on mutual funds or stocks. We were counseled on where to roll our IRA's. The investment representative recommended American Funds. These are loaded funds; this means all the commissions are paid up front and it will take awhile to recoup the money paid out. That would have been ok if the market had held out but because of the volatility, the money invested with them would have been better in the bank invested in cd's.
The representative we use, and that is probably true of Edward Jones in general, prints out graphs showing us what we could have made had we invested in 1974, etc. That advice is not relevant but it does tend to work on the brain so that you are more inclined to believe that over time, you will make that kind of return as well.What I have noticed is that the only people that make money through Edward Jones is Edward Jones and their representatives. Even though their disclaimer clearly states that "you invest at your own risk" the average investor does not understand what that really means until they have experienced what really happens to their money. If you decide to move your money, they charge $95.00 per account to close it so if you have multiple accounts, it could cost a small fortune to move your own money.
Fidelity Investments don't charge these fees and their funds are not loaded. There are advisors available to counsel as where best to put your rollovers and you will make money with them. "Let the buyer beware" does not only amount to goods but to services as well.
Comments about Edward Jones:
Brokerage services abound and it is relatively easy to setup a brokerage account, make transfers, invest money, etc. Some brokerage services are strictly discount firms and are great when an investor doesn’t need any guidance. Then, there are the full service firms and one that enjoys a solid reputation is **Edward Jones**, a brokerage service founded in St. Louis, Missouri. **Brokerage Service Commentary:** Edward Jones offers advice and financial planning services in areas such as retirement, insurance, annuities, CDs, common stock, preferred stock, education savings, estate planning, and more. Besides these areas of investment, Edward Jones also markets its own credit card, mortgages, home equity lines of credit, and personal lines of credit. Edward Jones is one of the largest brokerage services around, with around 10,000 individual branch locations across the United States, making it one of America’s most popular choices for investment and financial advice. I was first introduced to Edward Jones many years ago when a friend sold me on Edward Jones by pointing out the record of performance in his individual portfolio. What I quickly discovered is that Edward Jones is an excellent brokerage service not just for dispensing advice, but also for its communication. Service here is face- to- face, and Edward Jones encourages its customers to meet and to call or e-mail their respective financial representatives whenever necessary. Establishing a personal relationship is important to Edward Jones because when it comes to investments, most people want to be in the hands of someone they can trust. Merely setting up an account on the internet and mailing in a check isn’t the way Edward Jones operates. They want to meet and talk with clients one- on- one. Because Edward Jones is a full- service brokerage service, the fees are slightly higher than those of other online, discount brokerage services. If you are the type who likes to research and purchase your stocks and other investments on your own, then you may not benefit much from Edward Jones. However, if you don’t like to conduct your own research or feel you could use some guidance, then a full- service firm like Edward Jones is probably a good idea. Representatives at this brokerage firm will conduct an interview with you, assess your personal situation, and then recommend investments and insurance products to you. Investors can expect to pay at least a small fee with every purchase and while this might seem like a lot of money at first, one has to consider that Edward Jones is providing advice and finding investments that match your personal needs. When you take the helpful service into account, the fees are really not bad at all. Most brokerage services offer financial guidance provided by personal representatives, but Edward Jones is considered among the best in the business and it consistently outranks its competitors in customer satisfaction surveys. Investment performance is part of the reason, but personal service is the other part and the two combine for a highly rated customer experience. **Bottom- Line Viewpoint:**Edward Jones is one of the best and most ethical brokerage firms; a company committed to not only making a good return on your investment, but also to preservation of your principle and outstanding, personal customer service. Edward Jones offers a wide array of financial services and with branch offices located all over the United States (and even some in the United Kingdom and Canada), it is an easy company to seek out and a broker with which you can feel safe and secure with your hard- earned cash.
Comments about Edward Jones:
While not the perfect place to invest, Edward Jones, my partner and I have been happy investing and saving there. We have rolled over our previous retirement moneys, set up new Roth IRA's and have a joint brokerage account that lets us save up and invest outside of just retirement money. Since our initial start up we have had excellent personalized service and the accounts themselves have done as well as could be expected over time.
There are a few things you should know about Edward Jones before you start investing there though. Number one is that you are going to pay more than you would at a discount brokerage. The second thing to know is that Edward Jones makes money when you invest money through them. The final thing to consider is that they do have agreements with certain fund families whereas Edward Jones gets some sort of money back from them for investing in the funds.
Edward Jones offers a number of different account options that should fit just about everyone. In addition to the traditional brokerage accounts, they offer both the Roth and Traditional IRAs. They also offer a range of other services including banking and estate services. We have just stuck to the brokerage account and the retirement accounts for the time being. My partner and I each signed up for our own Roth IRA's that they offer. In addition I rolled over a Traditional IRA that I already had and together we rolled over a brokerage account that we had at Charles Schwab. Over time I also rolled a 401k into the Traditional IRA when I was laid off and we rolled over my Partner's old 401k into a new Traditional IRA for him. We have also been regularly investing in the joint brokerage account to increase our general levels of savings.
I like the level of service that we get at our local Edward Jones office. I know the office manager quite well and our Financial Advisor is a good guy that we enjoy working with. Overall at Edward Jones, our funds have been doing well and I like that we get personal service from our advisor, who stays in contact almost monthly and makes sure continue with our savings.
I wouldn't say that Edward Jones is the most cost effective way to save, but if you like personal service and want to have a broker that you can call whenever you need, Edward Jones is a step above your typical online brokerages where you are left to do everything. At Edward Jones you get to meet face to face with your advisor and you work out an investment plan together. That's what we did and we soon started saving money into our IRAs and into our regular joint brokerage account at Edward Jones.
I think if you want something more personal than an online brokerage, Edward Jones is a good place to start. I don't love everything about them, but overall I really like having them working with us on our retirement and investment strategies.