account at Edward Jones (and the other “full-service” brokerage firms like Merrill Lynch and Wachovia) is that your financial advisor is paid on commission. And yet, people give them money to invest -- pretty ironic. Don't paint all Edward Jones advisors with the same paint brush. I've found my advisor to be willing to talk about the full range of investing possibilities. American has a large diversified family of funds (equities vs bonds) that allow you to adjust your asset allocation without charge. ; commission-driven; branch offices can pass you on to another branch without explanation. Dave is an experienced, highly skilled investment professional. Surprised that they don't already? I've been pleased with the performance of the American Funds that I've been sold. Cons: Wasted my time and cheated tons of my hard earned money. For example, in 2004, Edward Jones was hit with allegations that it didn't disclose important conflicts of interest. This is not a firm to use if you want to do a lot of trading. I have (Soon will be moved) and a Guided Solutions account, haven't really like the way Edward Jones urges you to invest a certain way, or else you get out of alignment. Consumer reviews could be edited by the website staff to keep TopRatedFirms.com free of inappropriate or offensive language, It’s an old company in a new world. Was told each transaction fee was $50. You owe it to yourself to do a little research on this firm and learn about the "best interest" requirement that the Department of Labor finalized in 2016. Please note that not all of the investments and services mentioned are available in every state. Be the first to answer this question. Saving that amount of money in a growing economy today is not easy and his reaction was very degrading to how much effort I put in. 5/5/2017. Last time I did business with them (early 2017) they were still charging hefty percentage commissions, including a transaction fee, just to buy and sell stocks. "About Us." Are you searching for a career opportunity with unlimited earning potential? They have helped me out during the good and bad times, by D. Stacy, Should I? No wonder a chimp can pick better stocks randomly then a we’ll seasoned broker. Cons: She is very rude, over talks me! So we cannot complain. As for fees, no matter how often we discuss this, I'm still concerned. The trick is diversification. The second account will be going to probate court. Your returns won't necessarily be pegged to the S&P, but you will get reasonable returns in an up market. There's not a lot of difference between being an FA for Edward Jones, A G Edwards, Merril Lynch, Banker's Life, Met Life, Bank of Whatever - your duties, compensation, and products will all be pretty similar. I had a broker who wanted me to invest my portfolio with him, and he sold me a few plans but I wanted to back out. Trust no one unless they prove your trust, and then still be carefull. Worked with them to sell and buy a few stocks. I left EJ office feeling very unsure. 5/5/2018. Moving my money ASAP. Cons: Everything. Edward Jones has over 11,000 offices in the US and Canada serving over 7 million investors, and most of those offices are run by a single financial advisor. by Helen, Edward Jones, the St. Louis, Missouri-based full-service brokerage firm, is one of the most recognizable names in its industry. 3/10/2017, Pros: *Professional/effective communicator *Excellent assessment of client's financial goals *Amazing Sr. are performing reasonably well. If you search the Internet for Advisory Solutions, most of what you find is brokers talking to other brokers. Edward Jones is a brokerage firm that provides investment advice to individuals. They make no bones about the fact that it's all about them making money, nothing for your own benefit. What Will a Good Investment Advisor Do for Me? Don't be swayed by a negative report. What Will You Be Charged if You Hire an Advisor? i started with an advisor that was just starting with ed jones about 40 yrs ago...all decisions were made with mutual agreement. … "Edward Jones does a good job of keeping it from their customers. 1 0. gettel. The brokers at E.J. 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. In a former post, I listed the good aspects EJ, and they are many and significant. My EJ agent is great. I could retire today because of Jay Zahran! 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%. News provided by. Research their history and business model. Investing in stocks is outside of my comfort zone. They will use the fact that they are capable of selling your assets to intimidate you into buying products.E.J.   For individuals who want a personal touch, the right Jones advisor may very well be a good choice. Edward Jones Financial Advisor Career. So I don't mind paying someone to manage my money. The commissions and fees were over $1000! edward jones good or bad It is asset allocation. It's important for investors to know that these funds have various pay structures through different mutual fund share classes. It sounds like many reviewers don't like paying fees and therefore should not be with a full-service brokerage firm like EJ. Pros: Congenial advisor with great customer service. ... the right Jones advisor may very well be a good choice. 9/30/2019, Cons: Fees, fees and lots and lots of hidden fees. by Doug Texter, Our advisor is located in New Castle Pa. and I dealt with him for years before I met him. I had 10 grand in cash at home and asked my EJ if he could put it to work for me instead of me taking it to my bank where the 10 grand would make nothing. (You do not want E.J. It would have been nice if Andrew Cottrell would have met with us in person to explain his reason for passing us off to another advisor instead of just notifying us by mail and moving our account. 5/17/2017. I lost a small fortune doing business with them. 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. 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. by G. Laing, by Rose G, Clueless in Brenham Texas. Find Reviews and Recommendations for Edward Jones - Financial Advisor: Justin Brough, CRPC® in Ridgecrest, CA. It is best for those investors who want to buy and hold quality investment vehicles. In 2004, highly regarded investment firm Edward Jones stumbled over allegations that it didn't disclose important conflicts of interest. Several of the stock recommendations that they made went completely bust, many others were dogs. However, I keep some in the bank to pay monthly bills! I took a leap of faith and trusted a broker with whom I felt comfortable with. I worked for a wonderful financial advisor for three years who was let go due to lack of performance (bottomline: he didn't make enough money for the company) He was replaced by a woman who on her … Edward Jones IRA Review If you live within 100 miles of any moderately sized small town, chances are you have heard of the Edward Jones brokerage. Just google "best interest" and "edward jones". The average manager tenure for all managers at Edward Jones is 13.6 years. Therefore, I don't think it's fair to vilify them - unless they are actually scamming you against your own interest. Everything. BEWARE. In fact, one advisor simply issued the 48-hour notice that if I didn't find another F.A., he was going to sell my assets. Edward Jones 2018 ranking: 2 2017 ranking: 3 2018 score (on 1,000-point scale): 866 2017 score: 833 2018 vs. 2017: +33 1. Huge fees on every transaction compared to what you could do on your own. Come to find out, the $50 is only a minimum. 4 years ago. The advisors get wined and dined every week by different fund managers to get the advisors to sell their fees. They built their seven-million-strong clientele by placing locations in communities all around the United States and Canada. Wait until the next debacle and see how their tune changes... and think how much further ahead they would be had they taken care of business themselves. 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. Everyone? Cons: It’s all about monthly commissions. are bullies and con artists. I've been sold a few dogs, but most investments have made income so that I can live off the interest and not touch the principal. She is very rude, over talks me! 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. professional language. I now get about 400 bucks a month and the fund has grown to 65 thousand. I've gone to the same office for 20 years and I'm on my 5th advisor. They especially look for seniors and single women who trust them, then gouge with fees and high commissions, many hidden. The mutual funds he was making the least amount in, they had the most money invested in. Who doesn't love being #1? Cons: He passed our account off to another advisor for no specific reason. It really depends on your wiring and what you love to to. by suckered, it’s your money, so just don’t settle for being directed somewhere you don’t want to go.. by Thomas, In general, I've found him pretty good. Was not making what I thought I should and with an election coming up, I wanted to get out of stocks. He has been available any time I need to talk. You will not want to do business with them. DRIVING HIM NUTS! Jones model discourages trading, promotes investing. And they do. They seek to build long-term relationships built on trust with clients. Edward Jones is commissioned based and therefore investment "advisers" are no such thing; rather they are sales people steering the client into a high-commission investments that will yield immediate compensation for the firm (and of course, themselves), but not necessarily benefiting the client. If you are a patient investor who doesn't mind the buy and hold philosophy, Edward Jones is your company. Providing a wide range of investment advisory services, brokerage services and other products, Edward Jones is a one-stop shop for those looking for personalized guidance and face-to … 6/27/2017, Cons: Sales and fee-driven, they do NOT act in the best interests of the client. Compare Fisher Investments and Edward Jones pros and cons using consumer ratings with latest reviews. This one seems unclear on some things but she asks higher management if there is an issue so I am OK for the most part. They have earned J.D. "Good company, bad region 052" 3.0 ★ ★ ★ ★ ★ Work/Life Balance ★ ★ ★ ★ ★ Culture & Values ★ ★ ★ ★ ★ Career Opportunities ★ ★ ★ ★ ★ Compensation and Benefits ★ ★ ★ ★ ★ Senior Management ★ ★ ★ ★ ★ Former Employee - Financial Advisor in Bennington, VT. See Edward Jones in: Top 50. The stock market has been mostly down since my move to Fidelity, but my investments have hardly been affected. 9/28/2019, Pros: Knowledgeable about certain aspects of investing. After reading all these reviews i am now flat out scared. Before working with an advisor, investors are wise to research Edward Jones reviews and history. I started my career there. Fake friendship, homey small offices, heavy community involvement to win trust. Terri is a remarkable Senior Administrator who provides outstanding support to Edward Jones clients. 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. by Frank Crowley, About as knowledgeable as anyone else. Why Google's No. 12/25/2019, Pros: Reachable, willing to talk about alternatives, personable, Cons: A tad too behavioral finance oriented, a bit expensive. by trusting, 1,608 reviews from Edward Jones employees about Edward Jones culture, salaries, benefits, work-life balance, management, job security, and more. Edward P. Jones has won the Pulitzer Prize, the National Book Critics Circle Award, the International IMPAC Dublin Literary Award, and the Lannan Literary Award for The Known World. who is looking out for you and knows how to invest, you can do reasonably well. They immediately distract you in such a friendly way from reading. By using a fee-only advisor, you’ll get unbiased advice, and you’ll likely reduce the overall costs on your investment portfolio. If you have a sizeable sum of money, they will hound you, sometimes calling you several times a day. The fee is actually 2% every time you sell or buy. Please note that not all of the investments and services mentioned are available in every state. My money, my account and I can't trade. by Russ bloomer, His account was all mutual funds and 1 stock. Pros: Looks for ways for me to make money and tells me when he made a mistake in my investments. by Jerry Town, After I started managing it myself, it went up $5,000 in a month just by getting rid of the stupid mutual funds that was dragging down the account. never any pressure, everything has been a CON with them. He told me there would be trading fees and commissions, and I approved that since I needed to move the money. Fidelity is a great company for do it yourself investors. No degree or finance experience necessary. Horrible management. ... but there are also bad apples out there and they rarely fire those people. Pros: My adviser is very knowledgeable and trustworthy. by Joseph Boucher, She told me up front what my fees were going to be without my begging which none of the other firms I interviewed would do at all. The wealth management service, known as Advisory Solutions, allows clients to invest in a professionally managed portfolio. Pros: Best financial planner on the planet! Dividend growth investing has worked well for us. A full-service broker is someone who not only provides the capability to invest, but many other things like tax advice and retirement Find a local office and then find people who have dealt there personally. Edward Jones is a big user of load mutual funds, such as American Funds, which has a large selection of mostly high-quality mutual funds. And make a real difference in the community you live in? Let's face it. Edward Jones' success rate sounds positively dismal, but it is nearly twice as good as the industry average, according to Training Magazine. 7/19/2020. Cons: No cons with the broker, but the Edward Jones website was not user friendly when I started with them in 2012 and the most recent changes they made have rendered it practically useless. After working with my fifth E.J. For example, a fund might earn a healthy 10% per year but because Edward Jones skims off 2%, you will only see 8%. Yes, there have been some down times by mostly up! They have huge turnover because some people still balk at setting aside morals and ethics to line their, and company, pockets. There are better options than Edward Jones (Edward Jones charges expensive fees and profits a lot). One lawyer told me that I would probably end up with about 20% in sales fees.) With more than 12,000 locations serving nearly 7 million clients in the U.S. and Canada, Edward Jones is one of the largest full service brokers in the country. Accessed January 10, 2020. I do not like this new fee rollout for this year. Recent recommendations regarding this business are as follows: "Edward Jones is a great company. High fees, hidden fees, closing account fees, yearly fees, annual fees, high expense ratio funds. You can make much better money and investing choices than sticking with Edward Jones. false information, speculations, or to remove spam. My father who has been with them more than twenty years has seen his investments grow from one hundred twenty thousand to over a million and that is with no dividend reinvestment. 4/25/2017. Made me by 7 different mutual funds all invesco and with load fees of 5.5%. Cons: Bought the wrong bonds and did not notify me of the withdrawal fees for bonds. This particular advisor has no idea what he is doing - none. They make a lot of money during good times but can go months without pay during the bad times. Edward Jones is one of the largest brokers in the country, They have a very good reputation & are geared to the small … They completely invested me in stocks just before the 2008 debacle.... and made me pay for it in so many ways. Overall, the reviews on Yelp are not that much. 9/10/2019. 9/14/2018, Cons: Edward Jones practices, Guided Solutions. 3/6/2017. They try to have lots of letters behind their name but that means nothing. Find the best companies in Financial Services category: Edward Jones and Fisher Investments, Edward Jones vs Td Ameritrade, Fisher Investments vs Fidelity Financial Services Edward Jones - Financial Advisor: Lee Russell September 11 at 4:41 AM Some days--good or bad--are so momentous that you never forget where ... you were or … All rights are reserved. by Pat Leeper, You would be better just going to Vegas and betting on red or black rather than taking advice from an Edward Jones financial advisor. 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