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So I'm convinced that I need to get away from AUM. Now what?
Posted on 5/9/26 at 9:29 am
Posted on 5/9/26 at 9:29 am
So I'm at Edward Jones with a money manager skimming 1% off the top every year and everyone here did a great job of convincing me that I'm an idiot.
So what should I do next? Keep my money at Edward Jones but pick my own investment options and ditch the guy managing my account...
OR go to Fidelity/Vanguard etc and leave EJ all together?
Hopefully, he hasn't locked me into EJ with golden handcuff type investments that will tax me heavily if I try to transfer to another investment management company.
How easy/difficult is it to get out of golden handcuffs?
For the record I'm about 20yrs from retirement and I've only been AUM with EJ about 5yrs
So what should I do next? Keep my money at Edward Jones but pick my own investment options and ditch the guy managing my account...
OR go to Fidelity/Vanguard etc and leave EJ all together?
Hopefully, he hasn't locked me into EJ with golden handcuff type investments that will tax me heavily if I try to transfer to another investment management company.
How easy/difficult is it to get out of golden handcuffs?
For the record I'm about 20yrs from retirement and I've only been AUM with EJ about 5yrs
This post was edited on 5/9/26 at 9:30 am
6
Posted on 5/9/26 at 9:58 am to SuperFanDan
quote:
go to Fidelity/Vanguard etc and leave EJ all together?
This is what I would do. In fact, this is what I do.
VTI or VOO ETF (total U.S. or S&P 500)
VXUS ETF (Intl stocks)
Low cost index funds and don’t look back. If 20yrs from retirement, don’t fret over tax impact this year, if any, for transferring your money to new funds. You just saved yourself hundreds of thousands of dollars in AUM fees and likely set path for higher returns when you arrive to retirement.
Good move! Good luck.
PS, this passive investing (indexes) is a significant contributor to stock market performance we have today, especially during a war that usually stock market hates. So, you are doing your countrymen a service here, too (kidding)!
This post was edited on 5/9/26 at 10:01 am
Posted on 5/9/26 at 10:53 am to SuperFanDan
quote:
Hopefully, he hasn't locked me into EJ with golden handcuff type investments that will tax me heavily if I try to transfer to another investment management company.
It sounds like you really don't know what you're invested in. Before you make any changes, why don't you find out what you have, including all applicable fees, including contingent fees that would apply for selling shares, then decide if you can do better.
You should be able to transfer the shares to another broker without creating a taxable event, then maybe move out of them slowly over time with a definite plan including taking the taxes into account.
From what I hear, Edward Jones promotes American Funds, and some of those are best in class. You don't want to pay high fees to get them, but it might not be a good idea to sell them just to change and have to pay a lot of taxes.
Posted on 5/9/26 at 2:52 pm to CharlesUFarley
10-4. Great advice gents. I really appreciate it!
Posted on 5/9/26 at 7:31 pm to SuperFanDan
Clinch your cheeks and pray you aren’t in any Bridge Builder mutual funds in a taxable account
Posted on 5/9/26 at 9:15 pm to SuperFanDan
I just went through this when my guy from RJ said his fees were increasing "due to management and paper return %s." Moved all out positions to fidelity and then did a bit of analysis on three fidelity funds. Come to find out, my individual positions a very similar blend to one of the funds. Fund has a dividend that pays higher than the total dividend of my positions because of the total exposure of the fund and has an expense ratio less than what I was paying.
Blend of FOCPX and FSKAX. I am tracking my delta and we're almost 10 points ahead of the prior positions. Pretty impactful if you consider he was hitting me for 1.125% carry.
Blend of FOCPX and FSKAX. I am tracking my delta and we're almost 10 points ahead of the prior positions. Pretty impactful if you consider he was hitting me for 1.125% carry.
Posted on 5/10/26 at 11:19 am to SuperFanDan
quote:
OR go to Fidelity/Vanguard etc and leave EJ all together?
Yes leave.
Pick your brokerage first. Fidelity and Schwab are probably the best. Vanguard as a brokerage has taken some hits from its customers lately. Let them pull the money/stocks etc. That way you do not have to talk to EJ at all. The incoming brokerage is very incentivized to help you port your assets. EJ may slow roll the transfer.
Posted on 5/10/26 at 8:30 pm to SuperFanDan
Are these IRA or taxable accounts?
If IRA, no tax impact at all to move.
If taxable, there is no tax impact to moving the funds / positions to a different broker, but if you sell the stocks, will have capital gains or losses to deal with.
That tends to catch a lot of people off guard.
If IRA, no tax impact at all to move.
If taxable, there is no tax impact to moving the funds / positions to a different broker, but if you sell the stocks, will have capital gains or losses to deal with.
That tends to catch a lot of people off guard.
Posted on 5/10/26 at 9:03 pm to CharlesUFarley
Most Ed Jones advisors put you in their proprietary funds so you can’t ACAT/transfer the funds to other firms. You’re forced to call and liquidate and pay capital gains tax if in a taxable account. Ed Jones may be the worst firm to deal with because of this.
Posted on 5/11/26 at 7:00 am to TX_Tiger23
I had a simple Ira at Edward jones with an employer. I opened a rollover with Schwab and then did a transfer request. All of my funds but one transferred in a week. The other one took a few more days because it was a proprietary EJ fund and they had to sell it then the cash transferred. Just did this a few weeks ago
This post was edited on 5/11/26 at 7:01 am
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