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Posted on 8/22/24 at 10:49 pm to Sterling Archer
quote:
How much are their fees for you?
I think I’m on the platform for .05% but I’ve got at least 6 accounts with them. He’s got a money market account, my Roth IRA, and a couple of my wife’s 401k’s that we rolled over.
This post was edited on 8/22/24 at 11:00 pm
Posted on 8/22/24 at 10:59 pm to HeartAttackTiger
do a search. we have had a million threads here about it. regardless i will give you a few below.
issues with commissions, loads, annual fees, expense ratios, transfer out of account fees, terrible interface online, etc,
LINK
LINK
LINK
issues with commissions, loads, annual fees, expense ratios, transfer out of account fees, terrible interface online, etc,
quote:
But you might be wondering, “Is Edward Jones worth the fees?” I’ll cut to the chase: No, Edward Jones is not worth the fees.
LINK
LINK
LINK
Posted on 8/22/24 at 11:47 pm to Fat Bastard
quote:
do a search. we have had a million threads here about it. regardless i will give you a few below. issues with commissions, loads, annual fees, expense ratios, transfer out of account fees, terrible interface online, etc, quote:But you might be wondering, “Is Edward Jones worth the fees?” I’ll cut to the chase: No, Edward Jones is not worth the fees.
It’s really not that bad. I’ve moved to Texas and I’m still using my guy and plan to still use him.
Posted on 8/23/24 at 6:13 am to HeartAttackTiger
I have both Edward Jones and Ameriprise. I like both, but I found EJ to be more personable. Their investment choices have generated good returns. They helped me establish a trust and a will, and get life insurance. I also have life with AP.
I look forward to meetings at their office. Very relaxing and fun talking about performance and a gameplan moving forward. I found the agent to give off more of a friend vibe than a professional one.
They have more of a Warren Buffet stock approach. Last time I spoke with the agent, I mentioned how two years ago I wanted to buy Trane technologies stock but did not, and now I missed the boat. She looked it up and thought it was impressive, but said EJ does not have anything on TT because the company was recently formed and does not have a history, so the analysts can't recommend it. That tells me they don't have a mindset of taking chances and recommending up and comers, and you basically have to order them to buy X stock for you hat is not in the S&P 500.
I look forward to meetings at their office. Very relaxing and fun talking about performance and a gameplan moving forward. I found the agent to give off more of a friend vibe than a professional one.
They have more of a Warren Buffet stock approach. Last time I spoke with the agent, I mentioned how two years ago I wanted to buy Trane technologies stock but did not, and now I missed the boat. She looked it up and thought it was impressive, but said EJ does not have anything on TT because the company was recently formed and does not have a history, so the analysts can't recommend it. That tells me they don't have a mindset of taking chances and recommending up and comers, and you basically have to order them to buy X stock for you hat is not in the S&P 500.
Posted on 8/23/24 at 8:54 am to Mariner
I moved a sizable chunk of money into EJ a year ago. Between wife and I we had money in Schwab, Fidelity and Vanguard hanging around and wanted to consolidate.
We are at that point in our lives we really needed to devise the exit plan from work life and long term goals. While all 3 offered that,a friend of ours talked us into trying their EJ guy. All our kids had went to daycare together years back, so there was a common relationship.
Short version - No issues or regrets so far. It has just been a little over a year, and returns have been decent. Stock account is right at 40% growth, more conservative accounts (529, IRAs) in the mid 20% growth range. That is decent for not having to do any work.
He has been very helpful in planning out long term goals, regarding taxes and estate planning as well. Getting us the info we need when talking to lawyers and our CPAs.
We are at that point in our lives we really needed to devise the exit plan from work life and long term goals. While all 3 offered that,a friend of ours talked us into trying their EJ guy. All our kids had went to daycare together years back, so there was a common relationship.
Short version - No issues or regrets so far. It has just been a little over a year, and returns have been decent. Stock account is right at 40% growth, more conservative accounts (529, IRAs) in the mid 20% growth range. That is decent for not having to do any work.
He has been very helpful in planning out long term goals, regarding taxes and estate planning as well. Getting us the info we need when talking to lawyers and our CPAs.
Posted on 8/23/24 at 8:58 am to DarthRebel
Dude how many CPAs do you need?
Posted on 8/23/24 at 9:05 am to DarthRebel
quote:
It has just been a little over a year, and returns have been decent. Stock account is right at 40% growth, more conservative accounts (529, IRAs) in the mid 20% growth range. That is decent for not having to do any work.
You need to redefine the word “decent”
Posted on 8/23/24 at 9:47 am to canyon
quote:
Dude how many CPAs do you need?
We are part owners of a business, so there are 2. Business has one and a personal one. Business operates in Texas and Oklahoma, so it is just dang confusing.
Posted on 8/23/24 at 9:58 am to slackster
quote:
You need to redefine the word “decent”
Well the way some talk here, I figured that was low
Well AI propped it up more than it should of been, I in no way expect that in the next 12 months. Hitting the SMCI lottery was a big reason, however he is the one that convinced me on that one. That one paid for his fees right there.
Posted on 8/23/24 at 4:03 pm to slackster
quote:
That’s simply not true at all. They have investment models like everyone else, but I’ve seen full fledged management account statements too.
I could be wrong but my own experience with them was very antiseptic and generic. The broker was just pushing a product. He didn’t have much investment advice at all.
I filled out a form and he plugged it into his computer and it spit out a plan.
I didn’t want that and moved on so I didn’t explore further.
Apologies for mis leading
Posted on 8/23/24 at 8:23 pm to SlidellCajun
All good, as I said, they have those there. 
Posted on 8/24/24 at 1:07 am to HeartAttackTiger
They have the highest fees- 1.35% -and that’s just the managing fee. The fees are high for their mutual funds as well- I know someone who works at EJ and if you’re in A mutual fund called Victory, you’ve been had. They put everyone in that because it gives the financial advisors the most commissions. And that is their problem, they care more about commissions then the customer- and that starts from up top.
Posted on 8/24/24 at 7:31 am to OhioLSUfan
An A share mutual fund pays the same amount to the broker no matter what institution they’re at. Whether it’s EJ, Merrill, Ray Jay, or even an RIA.
Additionally, what you described is a conflict of interest and is absolutely not true due to legalized commissions on A share mutual funds.
Also, 1.35% is really competitive in the industry. I’ve seen quite a few Ray Jay accounts in the 1.5% range and Merrill Lynch there if not higher. And the ML guys love Jackson Ntl annuities (with GMB riders) which come with an absurd 4%+ annual fee that’s not very transparent.
For some reason EJ always gets hate on their “fees” but in reality they’re very competitive amongst wirehouses and other firms.
Additionally, what you described is a conflict of interest and is absolutely not true due to legalized commissions on A share mutual funds.
Also, 1.35% is really competitive in the industry. I’ve seen quite a few Ray Jay accounts in the 1.5% range and Merrill Lynch there if not higher. And the ML guys love Jackson Ntl annuities (with GMB riders) which come with an absurd 4%+ annual fee that’s not very transparent.
For some reason EJ always gets hate on their “fees” but in reality they’re very competitive amongst wirehouses and other firms.
This post was edited on 8/24/24 at 7:57 am
Posted on 8/24/24 at 1:08 pm to OhioLSUfan
quote:
They have the highest fees- 1.35% -and that’s just the managing fee. The fees are high for their mutual funds as well- I know someone who works at EJ and if you’re in A mutual fund called Victory, you’ve been had. They put everyone in that because it gives the financial advisors the most commissions
You don’t know what you’re talking about.
This is why EJ gets the bad pub - ohioLSUFan knows a guy and now everyone at EJ uses some singular mutual fund for the commissions.
Nevermind that nearly every advisor there has pivoted to managed accounts without commissions, this guy knows someone.
Posted on 8/26/24 at 2:21 pm to slackster
quote:
this guy knows someone.
It’s a public message board, do you expect detailed footnotes? Or that we know all the same people? Wtf dude.
And make no mistake about it, all the EJ financial advisors as well as the business associates (secretaries) get a quarter bonus. I actually gave some details in my response which you ignored - 1.35% is absurdly high, almost double what most companies charge.
The funds they stick you in are double the average as well. Victory Sycamore has an expense ratio of 0.95% when the average is 0.42%. And yes if you opened an account with EJ in the last year you were put in Victory Sycamore unless you told them no when asked. It doesn’t matter your age (teenager thru aged 90’s), doesn’t matter your risk tolerance- EJ FA’s were pushed to put everyone in that. It wasn’t because it was good for the customer, EJ as a company got more fees and they in turn gave their FA’s more commissions for putting customers in there. The real crime is the FA’s calling their account holders up and encouraging them to get out of their current holdings and move over to Victory Syc. Now every FA is different so not all were doing this, maybe you find an honest one.
Moreover, it’s common knowledge they charge everyone exorbitant amount of fees that most companies do for free: a couple examples are a $75 per year fee for having an IRA and an early termination fee if you want out.
Posted on 8/26/24 at 3:47 pm to OhioLSUfan
You’ve gotta be a troll. There is so much wrong in your post it’s laughable
Start by looking up your r6 class share of your favorite victory fund and how much 12b-1 it pays an advisor.
(Hint: it doesn’t)
Start by looking up your r6 class share of your favorite victory fund and how much 12b-1 it pays an advisor.
(Hint: it doesn’t)
This post was edited on 8/26/24 at 4:30 pm
Posted on 8/26/24 at 4:23 pm to OhioLSUfan
quote:
And yes if you opened an account with EJ in the last year you were put in Victory Sycamore unless you told them no when asked.
I guess I can prove you a liar. I am right at a year with EJ and I was never asked, nor had funds in Victory Sycamore.
I guess I just got the one good FA they have there
What I can tell you, my experience with EJ has been much better than with Schwab. Much more personal touch.
Posted on 8/26/24 at 5:16 pm to OhioLSUfan
quote:
And make no mistake about it, all the EJ financial advisors as well as the business associates (secretaries) get a quarter bonus. I actually gave some details in my response which you ignored - 1.35% is absurdly high, almost double what most companies charge.
That’s not absurdly high for full service firms. Merrill Lynch’s stated fee is 1.75%. Raymond James can be as high as 2.25%. LPL is up to 2.5%.
1.35% at the highest end of their fee range is very competitive.
quote:
And yes if you opened an account with EJ in the last year you were put in Victory Sycamore unless you told them no when asked. It doesn’t matter your age (teenager thru aged 90’s), doesn’t matter your risk tolerance- EJ FA’s were pushed to put everyone in that. It wasn’t because it was good for the customer, EJ as a company got more fees and they in turn gave their FA’s more commissions for putting customers in there. The real crime is the FA’s calling their account holders up and encouraging them to get out of their current holdings and move over to Victory Syc. Now every FA is different so not all were doing this, maybe you find an honest one.
How on earth would you possibly know this garbage?
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