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Started By
Message
Edward Jones Roth --HRAAX??
Posted on 2/4/15 at 3:15 pm
Posted on 2/4/15 at 3:15 pm
I will apologize in advance if I seem retarded on the subject of investing. I have a 401k at work that I put about 12% of my checks into. Avg around $100k a year, I'm 31. Been having the 401k for about 4 years now and they are currently matching a percentage of my deposits and showed return rate of 10-11% for this past year. Thats not the question, just alittle history before people say that I need to open a 401k etc etc
I opened up a Roth acc at EJ prob 2 years ago and put around $350 a mth into it. Its the type that takes taxes out up front. My question is, I look at my invest (401k & Roth) as a never ending car payment....just pay it and forget it. Just looked over my account and the only stock they buy in is HRAAX. It shows an avg price per stock between $15-$16. Only reason I went to EJ is because a friend recommened them. Was it a bad choice to have them manage my account? Just seem like they are not doing much with the money I have in there, even tho I know its only a small amount.
Any info to let me know if I should pull out and take my $ elsewhere for poss better returns or leave it with EJ. I've seen that some people here dont like EJ some i guess Im just curious if I'm wasting my time. TIA
I opened up a Roth acc at EJ prob 2 years ago and put around $350 a mth into it. Its the type that takes taxes out up front. My question is, I look at my invest (401k & Roth) as a never ending car payment....just pay it and forget it. Just looked over my account and the only stock they buy in is HRAAX. It shows an avg price per stock between $15-$16. Only reason I went to EJ is because a friend recommened them. Was it a bad choice to have them manage my account? Just seem like they are not doing much with the money I have in there, even tho I know its only a small amount.
Any info to let me know if I should pull out and take my $ elsewhere for poss better returns or leave it with EJ. I've seen that some people here dont like EJ some i guess Im just curious if I'm wasting my time. TIA
4
Posted on 2/4/15 at 3:33 pm to sonoma8
Its a fund of funds. It offers good diversification for small amounts of money. You could go to vanguard and fidelity and save yourself some money, but what you have isn't terrible.
This post was edited on 2/4/15 at 3:52 pm
Posted on 2/4/15 at 3:47 pm to Janky
Ok, thanks janky.... Just dont know jack about this stuff
Posted on 2/4/15 at 4:28 pm to sonoma8
Yea it's an allocation model. Just go ask the jones advisor to explain it to you and ask about other options if you're not satisfied. Communication is the key with your advisor. Don't just walk bc you're not happy, voice your opinion and he will listen.
Posted on 2/4/15 at 4:32 pm to Shepherd88
When we set it up I told him I didnt want to get crazy aggressive with investing it.... small gradual gains. Guess that explains the type he chose. Thanks fellas
Posted on 2/4/15 at 7:09 pm to Shepherd88
Go to vanguard instead. I almost went to be an advisor there, but decided not too. They average anywhere from 1.5-3% in annual fees every year that drastically eats at your money. Choose an index fund at vanguard and over time you may earn close to double the money( just based on fees)
Posted on 2/4/15 at 7:18 pm to sonoma8
quote:
I opened up a Roth acc at EJ
So you like loads and annual fees and higher expense ratios with a limited choice of funds? With a salesman running your portfolio?
RUN AWAY FROM EDWARD frickING JONES.
Do a search. It has been discussed here ad infinitum.
They are good for a MM fund/account and that is about it. Maybe a unit trust also. But that's it.
This post was edited on 2/23/15 at 4:18 pm
Posted on 2/4/15 at 7:20 pm to player711
quote:
Go to vanguard instead.
Posted on 2/5/15 at 8:16 am to Fat Bastard
quote:
So you like loads and annual fees and higher expense ratios with a limited choice of funds? With a salesman running your portfolio? RUN AWAY FROM EDWARD frickING JONES.
Like I said in several posts above, I HAVE NO IDEA ABOUT THIS...ITS WHY I ASKED. No sense in being a dick about it. All that you just said "high expense ratios, MM funds?" and all that other BS makes no sense to me. Might as well be talking German. Look, I have a college degree and make a decent living, by no means am I educated in Finance.
All Im looking for is to be pointed in the right direction on if I'm pissing extra money away with EJ and if so, Where can I take my money to smarter invest it? I don't have a prob yankin my $$ outta EJ, Just alil info on where to put it would be helpful. Thanks
Posted on 2/5/15 at 8:30 am to sonoma8
quote:
No sense in being a dick about it
Welcome to the money board.
You are being charged a load at EJ. If you want to stop paying that go to Vanguard's website and open an account or call them. Then transfer your account there and buy a fund (someone will post which one to buy). It really is that simple.
Posted on 2/5/15 at 8:32 am to Janky
quote:
(someone will post which one to buy)
VTSMX
Posted on 2/5/15 at 8:32 am to Janky
Thanks Janky.... That's all I needed to know. Appreciate the help 
Posted on 2/5/15 at 8:37 am to sonoma8
No problem and white perch nailed it.
Posted on 2/10/15 at 9:56 am to Janky
Talked to one of the docs I work with who knows alittle about investing, his wife does it for a living. He said to skip these fees all together,he would write down the name of the stocks that EJ is investing in and the one yall mentioned earlier and he would open an etrade acct. Just save a lump sum and keep an eye on it and buy in when I want to. Sounds to easy, am I missing something?
Posted on 2/10/15 at 10:49 am to sonoma8
quote:
He said to skip these fees all together
you mean leave EJ? Sounds reasonable.
quote:
He said to skip these fees all together,he would write down the name of the stocks that EJ is investing in
I don't understand what you mean by this.
quote:
he would open an etrade acct
etrade, vanguard, tdameritrade, Scottrade, scwaab
Posted on 2/10/15 at 12:58 pm to Janky
I didnt understand that either, he said that they should have a detailed report of exactly what stocks they are putting your money in. He said use that info and just buy the same stocks that EJ was buying and it would cut out the middle man.
I just dont wana do something stupid and hang myself. He said its easy to setup an etrade acct and just buy the stocks monthly, the same way EJ does.
I just dont wana do something stupid and hang myself. He said its easy to setup an etrade acct and just buy the stocks monthly, the same way EJ does.
Posted on 2/10/15 at 1:03 pm to sonoma8
Gotcha. Basically he is saying buy the same funds not stocks that EJ was buying in a discount brokerage account. Like we have said here, open a vanguard account and think about buying that fund that white perch suggested or open an etrade account and just transfer the fund you already own.
Posted on 2/10/15 at 2:30 pm to Janky
Ok, sorry for the stupidity. Just dont want to screw myself.
Posted on 2/10/15 at 3:11 pm to Fat Bastard
quote:
quote:
I opened up a Roth acc at EJ
So you like loads and annual fees and higher expense ratios with a limited choice of funds? With a salesman running your portfolio?
RUN AWAY FROM EDWARD frickING JONES.
Do a search. It has been discussed here ad infinitum.
They are good for a MM fund/account and that is about it. Maybe a unit trust also. But that's it.
Can you expand on this? I must not be good at searching. What's the issue with them?
Posted on 2/10/15 at 6:20 pm to Thib-a-doe Tiger
quote:
Can you expand on this? I must not be good at searching. What's the issue with them?
The number of funds available to invest in are limited. They typically have significant up front fees taken out of your money when you invest, and annual expense fess, your investments will have to achieve a greater rate of return to offset the fees. There is zero historical data that indicates your investment will perform better when managed by Edward Jones as opposed to doing it yourself. You can open a online brokerage account and accomplish the same thing for a fraction of the cost.
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