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Started By
Message
My Ed Jones advisor of 12 years
Posted on 12/14/21 at 6:57 am
Posted on 12/14/21 at 6:57 am
Suddenly transfers my accounts (substantial) to a junior rep.saying he got a promotion to a leadership position and he reached his capacity wherein he’s only keeping some of his accounts (but not mine).
What’s going on here? Should I move my portfolio to another investment company?
Thanks in advance.
What’s going on here? Should I move my portfolio to another investment company?
Thanks in advance.
19
Posted on 12/14/21 at 7:05 am to Caddy Bayou
You've known him for 12 years and he didn't let you know in advance?
That should tell you everything you need to know.
That should tell you everything you need to know.
Posted on 12/14/21 at 7:10 am to Caddy Bayou
quote:
Ed Jones
Posted on 12/14/21 at 7:14 am to Caddy Bayou
quote:
My Ed Jones advisor
found your problem
Posted on 12/14/21 at 7:32 am to DawgCountry
You should have moved long before but you should definitely move now.
Posted on 12/14/21 at 7:41 am to Caddy Bayou
Yall gonna give the man some suggestions instead of shitting on EDJ? 
Posted on 12/14/21 at 7:49 am to LSU1018
quote:
You should have moved long before but you should definitely move now.
+1. You were with Edward Jones for 12 years too long, but this switch gives you an easier out to have the "discussion" when you let them know you're moving your funds out.
This post was edited on 12/14/21 at 8:11 am
Posted on 12/14/21 at 7:58 am to Caddy Bayou
First, ask him how many clients or what percentage of clients is he/she transferring to new advisor. EJ has a good knight program where an established advisor with enough assets and clients transfers a portion of existing book to help new advisor. Usually, they keep the bigger accounts and transfer smaller accounts or clients they don’t interact with.
That said, he or she seems to be spinning the story somewhat, unless moving to HQ and vacating local office, then the advisor is just trimming book to work with biggest clients. Your money, ask to stay with him/she if you want to.
That said, he or she seems to be spinning the story somewhat, unless moving to HQ and vacating local office, then the advisor is just trimming book to work with biggest clients. Your money, ask to stay with him/she if you want to.
Posted on 12/14/21 at 8:20 am to GeneralLee
Discussion muscussion, if you have no relationship with the new guy, just submit the transfer form. May be slightly different if he was given a heads up, but this let's you know where you stand in the pecking order, that's for sure.
Posted on 12/14/21 at 8:26 am to Azazello
He told me as the last topic of conversation in our annual review. He gave me no choice of reps.
He may have been angry that I decided to have my RMD deposited in my checking account instead of reinvesting in the A shares they push so hard.
He may have been angry that I decided to have my RMD deposited in my checking account instead of reinvesting in the A shares they push so hard.
Posted on 12/14/21 at 8:35 am to RATeamWannabe
quote:
Yall gonna give the man some suggestions instead of shitting on EDJ?
Vanguard VTSAX. EJ's fees are too high and they end up putting you into bullshite index funds anyways. Just do it yourself with a .04% expense ratio instead of a 1.5%
Posted on 12/14/21 at 8:36 am to UpstairsComputer
Does anyone know if their “unit trust” investment funds are transferable to other investment companies? I was told in the past that these funds are strictly EDJ funds.
Thx!
Thx!
Posted on 12/14/21 at 8:43 am to Caddy Bayou
Our weekly shite on EJ thread.
To the OP, go meet the new guy. He’ll have more time for you than your previous guy. Or not, your call.
To the OP, go meet the new guy. He’ll have more time for you than your previous guy. Or not, your call.
Posted on 12/14/21 at 8:45 am to Caddy Bayou
quote:
He told me as the last topic of conversation in our annual review. He gave me no choice of reps. He may have been angry that I decided to have my RMD deposited in my checking account instead of reinvesting in the A shares they push so hard.
If he was not distributing your RMD in kind instead of reinvesting it you need a new advisor anyway.
Posted on 12/14/21 at 8:52 am to GeneralLee
quote:
You were with Edward Jones for 12 years too long, but this switch gives you an easier out to have the "discussion" when you let them know you're moving your funds out.
I get why (insert FA firm name) is shite on at a place like the Money Talk, but some of you need to realized the average Joe has no clue or desire to do any of this on their own. They don’t even know what questions to ask themselves, much less an FA.
An FA either provides value to you or he/she doesn’t. The Venn diagram of people who know what they’re doing on Vanguard/Fidelity and those who use EJ or ML or whatever shouldn’t have much, if any, overlap.
Posted on 12/14/21 at 8:57 am to slackster
quote:
I get why (insert FA firm name) is shite on at a place like the Money Talk, but some of you need to realized the average Joe has no clue or desire to do any of this on their own. They don’t even know what questions to ask themselves, much less an FA
Buying VTSAX couldn't be more simple and would match or best the returns of just about every FA out there.
Posted on 12/14/21 at 9:08 am to Caddy Bayou
Posted on 12/14/21 at 9:11 am to Caddy Bayou
My Ed Jones advisor of 12 years Waveland
Advisor initials KF?
Advisor initials KF?
Posted on 12/14/21 at 9:30 am to Big Ole Baw
quote:
Buying VTSAX couldn't be more simple and would match or best the returns of just about every FA out there.
That works in accumulation phase OP is old enough for RMDs and may be more concerned w wealth preservation and/or may need the $ to live on.
Posted on 12/14/21 at 9:34 am to nolaks
No. FA in LA
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