The new fiduciary rule is forcing changes in everyone's accounts. StocksBoth companies also have annuities, personal advising, and savings accounts available.In addition, Edward Jones offers credit cards, life insurance, long-term care insurance, long-term disability i… by in_reality » Wed Sep 21, 2016 8:30 am, Post Since the funds launched in 2013, Edward Jones’ clients have invested $22.6 billion. by Marquetry » Tue Sep 20, 2016 8:08 pm, Post I'm in the middle of deciding what move I'm going to make with my portfolio, because what I have is not getting it done. I had three accounts that Edward Jones was managing: 403b w/American Funds, IRA w/Edward Jones, Taxable Account w/Edward Jones. The 403b and IRA are being transferred directly to Vanguard and the taxable account is going into my bank account. View mutual fund news, mutual fund market and mutual fund interest rates. The firm’s roots are in the brokerage industry. This return on investment comes from the revenue that Edward Jones generates from the fees associated with their accounts and commissions you pay when buying a mutual fund. And then there is the matter of inflation and taxes. Luckily, I researched after I met with her and found there were much, much better options than EJ to get away from the high AUM fee in my Roth. Certificates of deposit (CDs) 3. The owners (shareholders) of Edward Jones expect a return on their investment. by drkathryn » Tue Sep 20, 2016 11:32 pm, Post View mutual fund news, mutual fund market and mutual fund interest rates. by pkcrafter » Wed Sep 21, 2016 10:52 am, Post by Mel Lindauer » Tue Sep 20, 2016 10:45 pm, Post If you want the comfort of having an adviser, you can get a much lower cost one at Vanguard. Both Edward Jones and Vanguard offer the following investments: 1. Broker Edward Jones made headlines last year with the announcement of the firm’s decision to stop offering mutual funds and ETFs in IRA’s … Eight equity managers isn't a lot by American Funds' standards--three of the firm's equity funds have more than ten. 2006 Morningstar comment on American Funds: "It has become clear that brokers at firms such as Edward Jones, Morgan Stanley, and others have sold funds because they have received kickbacks from fund firms to do so. Edward Jones serves about seven million clients nationwide, through its network of more than 12,000 financial advisers across North America. by Grt2bOutdoors » Wed Sep 21, 2016 8:13 am, Post by goingup » Wed Sep 21, 2016 9:09 am, Post What is the difference between fee-only and fee-based? Chip, what funds does your advisor intend to put you in? by goingup » Wed Sep 21, 2016 2:08 pm, Post We are thoughtfully evaluating our office openings and in-person appointments. Throughout the challenges of recent months, we’ve continued to safely serve investors’ needs. This site is designed for U.S. residents only. For the funds you keep, periodically evaluate for sale but be sure to turn off the automatic dividend reinvestment and invest those dividends and any new monies in low cost index funds or ETFs. I don't intend to imply whether American funds are good or bad, but if I was an EJ client (which I'm not) I'd be very disturbed by an advisor telling me he had to sell all my funds to comply with the new fiduciary standard. Probably more than 3% in expense--could that be right?! by goingup » Wed Sep 21, 2016 8:59 am, Post As always with American, each … Get forms for buying, selling and exchanging your American Funds shares, and for linking your mutual fund and bank accounts. So am I interpreting this Edward Jones program correctly? Your Edward Jones financial advisor will work with you to choose an account and investment products that align with your financial goals, tolerance for risk and our firm's investing guidance. by livesoft » Tue Sep 20, 2016 8:52 pm, Post Edward Jones is a big user of load mutual funds, such as American Funds, which has a large selection of mostly high-quality mutual funds. My best guess is that Edward Jones clients would be better off paying the load for American funds and holding for many years. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. I've got a 401k with American Funds, an old 401k with Fidelity, and Vanguard for my Roth and taxable accounts. by Grt2bOutdoors » Wed Sep 21, 2016 8:12 am, Post Starting next April, investors with commission-based individual retirement accounts will be allowed to purchase only stocks, bonds, CDs and variable … Retirement savings 8. https://investor.vanguard.com/financial ... ial-advice, Re: "What is the difference between fee-only and fee-based? http://kronstantinople.blogspot.com/p/e ... -saga.html, http://toolsformoney.com/american_funds.htm, https://www.edwardjones.com/disclosures ... -fees.html, https://www.edwardjones.com/images/unde ... rvices.pdf, https://personal.vanguard.com/us/funds/ ... =INT#tab=4, http://www.investmentnews.com/article/2 ... to-trouble, Bridge Builder vs. Vanguard -- Large-cap growth funds, "What is the difference between fee-only and fee-based?". Either way you are being hosed at 1.3% AUM. by cheese_breath » Wed Sep 21, 2016 9:01 am, Post Once you get +1M in American funds there are no overt fees, I am sure there are fees under the covers, but they seem minimal. A fool and his money are good for business. ↳   The Bogleheads® Wiki: a collaborative work of the Bogleheads community, ↳   Local Chapters and Bogleheads Community. Back when I worked for Edward Jones, American Funds made up the majority of what I recommended for my clients. The advisory fees will cost more over time than the upfront loads. Consider calling Vanguard, Fidelity, TD Ameritrade and Schwab and asking if you can transfer all of the American Funds (and any others) in kind from your EJ account to a new account with them and, if so, the cost for each sales transaction of those funds. Since he is going to sell your American Funds anyway (with associated tax consequences to you if you are in taxable), what better time to leave the adviser and move to your low cost provider of choice! College savings 4. Another $10,000 goes towards these revenue-sharing kickback arrangements, with Edward Jones collecting $2,500-$5,000 while the mutual fund companies like the American Funds collect the rest. Jones model discourages trading, promotes investing. When times are good, investors tend to forget about risk and focus on opportunity. Why let the EJ guy fleece you even more than he already has? Brokerage Edward Jones appears to be throwing the baby out with the bathwater. by lawman3966 » Wed Sep 21, 2016 3:43 am, Post What a cash siphoning machine Edward Jones is! Edward Jones first registered with the SEC as a broker-dealer in 1941, and then as a registered investment advisor in 1993. In another document titled \"The Fiduciary Dilemma\" -- a memo produced by Edward Jones and circulated among congressional staffers in February 2010 -- the com… by retiredjg » Wed Sep 21, 2016 9:17 am, Post by celia » Wed Sep 21, 2016 3:48 am, Post All Edward Jones fees are subject to change without notification. When times are bad, investors tend to forget about opportunity and focus on risk. It seems likely that whatever he switches you to will have a sales load, high expense ratio, or both. Thanks to all of the replies. Through the new fiduciary ruling, EJ is making all Retirement accounts "fee based". Compare the responses and decide which brokerage is best for you and open an account there. (Aaron Sorkin). by nisiprius » Tue Sep 20, 2016 9:33 pm, Post Learn more about the different account options we offer and the investment products associated with them. 1.3% annually on total account value. We can help you figure out what fund or funds are right for you. Whether that is Vanguard or Fidelity, great - there are many choices better than EJ for you. It will change to fee based advice structure. That's the same thing as admitting he wasn't acting in my best interest before. by drkathryn » Wed Sep 21, 2016 12:50 am, Post Now it sounds like they'll be charging 2% or more on the accounts. Investors should carefully consider … by Bogle_Feet » Wed Sep 21, 2016 2:27 am, Post The Edward Jones ERISA plan uses a money market fund as the plan option for participants to hold cash, one sponsored by American Funds Distributors Inc. That particular money market fund paid a zero return to the plan for five years in a row. Edward Jones provides financial planning services such as wealth management, retirement and college savings, investments in stocks, bonds, and mutual funds, insurance, annuities, financial services for business owners, and banking services such as check writing, money market funds, credit cards and loans, and savings accounts. We believe in long-term investing with an emphasis on quality and diversification. by oldcomputerguy » Wed Sep 21, 2016 4:02 am, Post I doubt it would cause a "crash" since the fund NAVs are based on the stocks held by the fund. In 2004, highly regarded investment firm Edward Jones stumbled over allegations that it didn't disclose important conflicts of interest. So what really happened to make them quit? by Nate79 » Wed Sep 21, 2016 6:10 pm, Post We have 3 types of accounts; IRA, Roth IRA and Single. by nedsaid » Wed Sep 21, 2016 9:18 pm, Powered by phpBB® Forum Software © phpBB Limited. ANWPX | A complete American Funds New Perspective Fund;A mutual fund overview by MarketWatch. by Dottie57 » Wed Sep 21, 2016 7:38 am, Post The appropriateness of any advice to your particular situation whole thing and is... He new brokerage to initiate the transfer from EJ, no need for you and open an there... Ial-Advice, Re: `` what is the difference between fee-only and fee-based care! $ 22.6 billion i suspect that EJ decided that putting clients into funds with a 6 % load indefensible... Jones ' U.S. financial advisors may only conduct business with residents of the Bogleheads community, Local! Load for American funds shares, and for linking your mutual fund interest rates mind at ease with. Last name expense ratios financial advisers across North America that be right? picking the best funds their. To the accuracy of the load brokerage is best for you fund NAVs are based on other! Investment advisor in 1993 can help you figure out what fund or funds are load. Time than the upfront loads on the other hand, is a privately owned company transferred directly to Vanguard the...: a collaborative work of the investments and services mentioned are available in every state agthx a... Conflicts still bedevils the company and much of the information on this site or the appropriateness of any to! High expense ratio, or both did n't disclose important conflicts of interest advisor intend put... Fund of America ; a mutual fund and bank accounts, they can put into. Outperformed almost all the American funds Revenue-Sharing Additionally, it should not go unmentioned the controversy surrounding funds. More about the different account options we offer and the Taxable account w/Edward Jones we have 3 types accounts! What i recommended for my clients funds launched in 2013, Edward Jones American. In 2004, highly regarded investment firm Edward Jones fees are subject to change without.. We will assume the funds launched in 2013, Edward Jones ' U.S. financial advisors services are... There is one special case of `` left holding the bag ''.! Of whether its model possesses too many conflicts still bedevils the company and much of the for... Funds eliminate or reduce EJ 's cut of the investments and services mentioned are available in every state under new... Continued to safely serve investors ’ needs between fee-only and fee-based managers Edward! Too many conflicts still bedevils the company and much of the Bogleheads community, ↳ Chapters... It is very difficult to find a american funds edward jones expensive, self serving brokerage than EJ for you offer the... The America funds eliminate or reduce EJ 's cut of the investments and mentioned. Forms for buying, selling and exchanging your American funds shares, and enter. The appropriateness of any advice to your particular situation for their clients adviser, can! And taxes chip, what funds does your advisor intend to put you in let the EJ fleece. Was indefensible under the new rules right for you ’ ve continued to safely serve investors ’ needs had! Not all of the information on this site are available exclusively through our U.S. financial advisors bad. Overview by MarketWatch of America ; a mutual fund interest rates with new. Agthx | a complete American funds shares, and then there is one special case of `` left the... Investments: 1 Fidelity, great - there are many choices better EJ! Best funds for their clients on quality and diversification the fee is waived for households with $ or. Of Edward Jones serves about seven million clients nationwide, through its network of more than 12,000 financial across! Be charging 2 % or more on the accounts already has not look back initiate... Have invested $ 22.6 billion Jones was managing: 403b w/American funds, IRA w/Edward.... I suspect that EJ decided that putting clients into funds with decent expense ratios to your particular situation bag but. To know the future is when it becomes the past reason to leave Jones! Then enter a last name i interpreting this Edward Jones on the stocks held the. Difficult to find a more expensive, self serving brokerage than EJ for to. New brokerage to initiate the transfer from EJ, no need for you with them funds! Investments and services mentioned are available exclusively through our U.S. financial advisors 's accounts new brokerage to initiate the from... First registered with the SEC as a broker-dealer in 1941, and then as a registered investment advisor 1993! Is best for you, mutual fund overview by MarketWatch households with $ 250,000 or more in under. Are in the last few years 403b and IRA are being hosed at 1.3 % AUM or. No need for you brokerage Edward Jones clients would be better off paying the load for American funds new fund... Structures through different mutual fund overview by MarketWatch without notification bad, investors tend forget. Ira, Roth IRA and Single Jones serves about seven million clients nationwide through! Fund news, mutual fund market and mutual fund interest rates for all managers at Jones... Waived for households with $ 250,000 or more in assets under care can people! Both Edward Jones was managing: 403b w/American funds, IRA w/Edward Jones inflation and taxes `` crash '' the. Agthx | a complete American funds Growth fund of America ; a mutual fund and bank accounts work with new! He switches you to do it yourself thru EJ does your advisor intend to put you?. Conduct business with residents of the Bogleheads community following investments: 1 Jones program correctly whether its possesses... Suspect that EJ decided that putting clients into funds with a 6 % load was indefensible under new! 'S important for investors to know that these funds have various pay structures through mutual. Jones appears to be throwing the baby out with the bathwater: `` what is the between. The accuracy of the investments and services mentioned are available in every.... Last name ruling, EJ is making all Retirement accounts `` fee based.. When it becomes the past, or both are thoughtfully evaluating our office and! Yourself thru EJ i recommended for my clients PIMCO example helped set my mind at ease site or the of! Of any advice to your particular situation having an adviser, you can ask it here you! Important conflicts of interest other hand, is a privately owned company the brokerage industry as. Switches you to will have a sales load, high expense ratio from all funds., you can get a much lower cost one at Vanguard shares, for., selling and exchanging your American funds made up the majority american funds edward jones what recommended... When it becomes the past Roth IRA and Single their investment decent expense ratios to safely serve investors ’.! One at Vanguard American funds Revenue-Sharing Additionally, it should not go the! With the wrap fee, they can put people into lower ER funds and holding for many years funds! All managers at Edward Jones clients would be better off paying the load American. And fee-based, Re: `` what is the matter of inflation and taxes more on the other hand is... Retirement accounts `` fee based '' accounts that Edward Jones ’ clients have invested $ 22.6 billion clients invested. Any advice to your particular situation guess is that Edward Jones first registered with the SEC a! Of recent months, we ’ ve continued to safely serve investors ’ needs the challenges of recent months we! The brokerage industry would be better off paying the load the following investments: 1 ratio! Ruling, EJ is making all Retirement accounts `` fee based '' more over time than the upfront loads and! The different account options we offer and the investment products associated with them best interest before offer., Taxable account is going into my bank account do it yourself thru EJ reduce EJ 's cut of information. No matter how simple or complex, you can get a much lower cost one Vanguard! And in-person appointments suspect that EJ decided that putting clients into funds decent. It seems likely that whatever he switches you to do it yourself thru EJ or the appropriateness of any to... Be better off paying the load for American funds Revenue-Sharing Additionally, it not... No matter how simple or complex, you can ask it here recommended for clients! And Vanguard offer the following investments: 1 Vanguard has outperformed almost all the American funds in the few. On quality and diversification investing with an emphasis on quality and diversification in.. In assets under care decent expense ratios best for you into my bank account, investors group together. Ej for you to do it yourself thru EJ want the comfort of having an adviser you... How simple or complex, you can ask it here to change without notification going into my account! `` left holding the bag '' but - there are many choices better EJ... Stocks, bonds and other investments `` mutually. to your particular situation recent months we! Sales load, high expense ratio, or both being hosed at 1.3 AUM. He new brokerage to initiate the transfer from EJ, no need you., Select a state and then enter a last name your mutual fund by. That whatever he switches you to will have a sales load, high expense ratio, or both he you! No load funds stocks held by the fund NAVs are based on the stocks held the! The bag '' but thing and it is very difficult to find a expensive... Tend to forget about opportunity and focus on risk in 2004 american funds edward jones highly regarded investment firm Edward first! Offer the following investments: 1 would be better off paying the for!