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Edward Jones vs Northwestern Mutual vs Fidelity

Posted on 1/26/23 at 10:22 am
Posted by bberg5
Member since May 2021
20 posts
Posted on 1/26/23 at 10:22 am
What is the best brokerage firm as far as investments? What the best company. Any bad experiences etc...?
Posted by jsk020
Nola
Member since Jan 2013
1697 posts
Posted on 1/26/23 at 10:24 am to
I use fidelity for everything. I love it
Posted by Hussss
Living the Dream
Member since Oct 2016
6742 posts
Posted on 1/26/23 at 10:26 am to
SCHW fan here.

Been an extremely satisfied customer for 30 yrs.
Posted by CAPEX
Member since Dec 2022
865 posts
Posted on 1/26/23 at 10:59 am to
I work at Fidelity so I'm biased.

Although I'm on the asset management side.
Posted by Retrograde
TX
Member since Jul 2014
2900 posts
Posted on 1/26/23 at 10:59 am to
Not Edward Jones.
Posted by GeneralLee
Member since Aug 2004
13104 posts
Posted on 1/26/23 at 11:08 am to
Edward Jones-trash. Edward Jones does nothing but milk fees off of financially illiterate consumers. Avoid at all costs.

Fidelity- great, low fees, love the flexibility of account types (i have my brokerage account, Roth IRA's, Self Directed 401K, and HSA all through fidelity)

Northwestern Mutual- no idea
Posted by MSTiger33
Member since Oct 2007
20381 posts
Posted on 1/26/23 at 12:07 pm to
Fidelity here
Posted by MSTiger33
Member since Oct 2007
20381 posts
Posted on 1/26/23 at 12:08 pm to
Which branch
Posted by Shepherd88
Member since Dec 2013
4582 posts
Posted on 1/26/23 at 12:08 pm to
quote:

Edward Jones-trash. Edward Jones does nothing but milk fees off of financially illiterate consumers. Avoid at all costs.


This is a completely ignorant statement.

Fidelity and Edward Jones will have access to the same products besides derivatives.
Fidelity will mostly be a DIY platform unless you want to work with an advisor.
EJ you will need to work with an advisor and therefore you will have to pay an advisor for their services.

Northwest Mutual will not have as much access to products as the former 2 and they will push insurance heavily.
Posted by gpburdell
ATL
Member since Jun 2015
1422 posts
Posted on 1/26/23 at 12:18 pm to
Fidelity. I use Fidelity for everything (rollover/roth ira, checking/billpay/atm, hsa, credit card). From what I've read and seen, only Charles Scwhwab is on par with the same level of services.
Posted by Pirate0714
Baton Rouge
Member since May 2016
426 posts
Posted on 1/26/23 at 12:30 pm to
Personally it's Fidelity for me. Website is very easy to use and their customer support is great.
Posted by Sir Saint
1 post
Member since Jun 2010
5323 posts
Posted on 1/26/23 at 12:31 pm to
Avoid NW mutual - they will constantly push you to buy a whole life policy. Their tactics and sales model is MLM-level scummy, encouraging new salesmen to sell high fee whole life to friends and family in almost predatory fashion.
Posted by slackster
Houston
Member since Mar 2009
84856 posts
Posted on 1/26/23 at 12:34 pm to
quote:

Edward Jones-trash. Edward Jones does nothing but milk fees off of financially illiterate consumers. Avoid at all costs. Fidelity- great, low fees, love the flexibility of account types (i have my brokerage account, Roth IRA's, Self Directed 401K, and HSA all through fidelity)


To put it another way, Edward Jones, Morgan Stanley, Raymond James, LPL, etc. are for people who don’t want to do it themselves.

Fidelity, Vanguard, etc is for people that want to do it themselves.

It’s really that simple for 95% of people.
Posted by slackster
Houston
Member since Mar 2009
84856 posts
Posted on 1/26/23 at 12:35 pm to
quote:

This is a completely ignorant statement.


It’s the money talk, so I get it. It’s mostly DIYers here.
Posted by CAPEX
Member since Dec 2022
865 posts
Posted on 1/26/23 at 12:42 pm to
What do you mean, what branch?

I'm at Fidelity International in London.

I'm in one of the Global Investment Research teams without revealing more than that.
This post was edited on 1/26/23 at 12:44 pm
Posted by notsince98
KC, MO
Member since Oct 2012
17979 posts
Posted on 1/26/23 at 12:48 pm to
quote:

What is the best brokerage firm as far as investments? What the best company. Any bad experiences etc...?




are you looking for a cheap DIY platform or do you need an advisor/management?
Posted by MrJimBeam
Member since Apr 2009
12302 posts
Posted on 1/26/23 at 12:51 pm to
I had the same experience. When they tried to convince a slow transition to whole life from term several times, I was done. Got some good info from the few meetings I had but it just felt like the cost to use them was too high for everything.
Posted by Bow08tie
Louisiana
Member since Oct 2011
4221 posts
Posted on 1/26/23 at 12:57 pm to
There’s also Raymond James out there to maybe consider
Posted by TigerGrad2011
Member since Aug 2016
1578 posts
Posted on 1/26/23 at 1:09 pm to
(no message)
This post was edited on 9/17/23 at 11:44 pm
Posted by lynxcat
Member since Jan 2008
24144 posts
Posted on 1/26/23 at 1:22 pm to
Schwab, Vanguard, and Fidelity are all terrific.
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