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re: Considering Edward Jones Investment Firm? Yes or No?
Posted on 2/22/12 at 12:47 pm to Janky
Posted on 2/22/12 at 12:47 pm to Janky
Maybe I'm naive, but IMO most advisors, while concerned with their own pay as anyone would be, also care about doing the right things for their customers. Because if they're not doing the right things for their customers, they're not going to have that customer for long (and hence hurt their own future earning potential).
0
Posted on 2/22/12 at 12:52 pm to JPLSU1981
quote:
Do they have every Large Cap Value fund imaginiable? No, of course not. but who would need such a large basket of funds to chooose from anyway?
I get where you are coming from but in my opinion EJ makes a sell then forgets about you cause they have to continue to kill to eat. Here is an example of a typical EJ LV holding vs. others they can't use.
I want this one.
Posted on 2/22/12 at 1:30 pm to Janky
It depends. A friend recently asked me to look at something for one of his parents. 1% annual advisory/wrap fee, and in it the largest investment was a fund with a 2.56% ER, that is a permanent loser, mon frere, and IMO, an inherent conflict of interest. I should start my own business rescuing unknowing people from terrible investments.....
Posted on 2/22/12 at 1:37 pm to tirebiter
quote:
It depends. A friend recently asked me to look at something for one of his parents. 1% annual advisory/wrap fee, and in it the largest investment was a fund with a 2.56% ER, that is a permanent loser, mon frere, and IMO, an inherent conflict of interest
Holy crap...2.56% That is crap.
However, I am not sure that it is a conflict of interest. The advisor does not get paid any more for using a 2.5% ER vs. a .5% ER. In fact, any 12-b1 fees incurred should be credited back to the client.
Again, I cannot imagine someone using a 2.5% in a fee based account.
Posted on 2/22/12 at 1:42 pm to Janky
Some "advisors" shouldn't be in their jobs, they are not the sharpest tools in the drawer.
Posted on 2/22/12 at 1:46 pm to tirebiter
Roger that boss.
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