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Started By
Message
What's your thoughts on Edward jones?
Posted on 5/6/13 at 9:13 pm
Posted on 5/6/13 at 9:13 pm
I have a couple 401K's I need to roll over. Is EJ a good place to start?
Pro/cons of EJ?
If not EJ, what else do you recommend?
Pro/cons of EJ?
If not EJ, what else do you recommend?
8
Posted on 5/6/13 at 9:25 pm to Uncle JackD
No!
Posted on 5/6/13 at 9:26 pm to Janky
But whyPosted on 5/6/13 at 9:27 pm to Uncle JackD
This will go well.
Honestly, no, EJ is not a good place to start. 90 percent of their "advisors" are salesmen who do not know what they are doing. You should roll your 401ks into an IRA with a brokerage like Fidelity or Schawb, invest in a few diversified Index Funds, and you will do better in the long run. EJ likes to get customers to buy funds that get them the highest percentage fee. They will likely not look out for your best interest.
Honestly, no, EJ is not a good place to start. 90 percent of their "advisors" are salesmen who do not know what they are doing. You should roll your 401ks into an IRA with a brokerage like Fidelity or Schawb, invest in a few diversified Index Funds, and you will do better in the long run. EJ likes to get customers to buy funds that get them the highest percentage fee. They will likely not look out for your best interest.
This post was edited on 5/6/13 at 9:29 pm
Posted on 5/6/13 at 9:28 pm to Uncle JackD
Email me.
Janky0417@gmail.com
Janky0417@gmail.com
Posted on 5/6/13 at 9:29 pm to Uncle JackD
Depends on your level of expertise. If you're clueless about investing they can provide sound investing advice. Their upfront loads are very high for American Funds which is what they push, but they do have a pretty good track record. EJ is not worth the fees for some people, but you could also do a lot worse on your own if you don't have a mindset for investing.
This post was edited on 5/6/13 at 9:31 pm
Posted on 5/6/13 at 9:30 pm to Jason9782003
come to morgan stanley, we'll fix you up.
Posted on 5/6/13 at 9:30 pm to Jason9782003
American funds was what the guy actually mentioned.
Posted on 5/6/13 at 9:35 pm to Uncle JackD
Personally, I would just roll over all your 401k's into your current employer's plan if that's an option for you right now. EJ is going to take a big chunk of your funds in load fees (5.75% for the first $25k).
This post was edited on 5/6/13 at 9:37 pm
Posted on 5/6/13 at 9:36 pm to Uncle JackD
quote:
American funds was what the guy actually mentioned.
And why do you think he did that?
Posted on 5/6/13 at 9:37 pm to Jason9782003
quote:
Personally, I would just roll over all your 401k's into your current employer's plan if that's an option for you right now.
No!
Posted on 5/6/13 at 9:38 pm to LSUtoOmaha
quote:Bigger kickback I'm guessing.. I kind of figured they were the Walmart of the finance world, just wanted others opinions.
And why do you think he did that?
My curren employer uses T Rowe price, should I roll over into that?
Posted on 5/6/13 at 9:39 pm to Uncle JackD
quote:
My curren employer uses T Rowe price, should I roll over into that?
No!
Posted on 5/6/13 at 9:42 pm to Uncle JackD
from what i've heard stay away and invest in several index funds through a low fee service
Posted on 5/6/13 at 9:45 pm to Uncle JackD
quote:
My current employer uses T Rowe price, should I roll over into that?
No. Roll it over into an IRA and select your own index funds. Also, see if you can roll it over into a Roth to get some tax diversification.
Posted on 5/6/13 at 9:46 pm to LSUtoOmaha
quote:
No. Roll it over into an IRA and select your own index funds. Also, see if you can roll it over into a Roth to get some tax diversification.
Before we go here, how much are we talking?
Posted on 5/6/13 at 9:47 pm to Janky
There's so many variables that must be known before making an educated and qualified decision in regards to where you should allocate your money that its laughable for someone to give you an answer on here based only on knowing you have a couple 401k's. make an appointment at a Morgan Stanley,fidelity, Wells Fargo etc.
Posted on 5/6/13 at 10:12 pm to Uncle JackD
Seeing as you've gotten your answer I am going to hijack this thread real quick.
I dont have a 401k or a ROTH IRA yet. However I have a scottrade account that has performed well. I have a solid core, but have also made some riskier moves. I'm getting to the point that I want to seek advise on diversification and such. Who should I speak with? Any thoughts on which direction I shoukd go?
I dont have a 401k or a ROTH IRA yet. However I have a scottrade account that has performed well. I have a solid core, but have also made some riskier moves. I'm getting to the point that I want to seek advise on diversification and such. Who should I speak with? Any thoughts on which direction I shoukd go?
Posted on 5/6/13 at 10:30 pm to Uncle JackD
Go see Reid Mclellan. He has done a very good job with a few friends of mine and has also lead our scholarship fund for our fraternity to be the biggest of any greek organization. He knows his stuff.
Posted on 5/7/13 at 7:11 am to Uncle JackD
GEEZ. NOT.THIS.AGAIN.
DO A SEARCH IT HAS ONLY BEEN DISCUSSED HERE A MILLION TIMES!!!!!!!!!!!!
DO A SEARCH IT HAS ONLY BEEN DISCUSSED HERE A MILLION TIMES!!!!!!!!!!!!
This post was edited on 5/7/13 at 7:12 am
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