*In Quebec, our advisors are known as Investment Advisors. 9 … Either way, we've heard from a slew of EJ customers who are fleeing the fees. One-time set-up fee $20 1 Annual administration fees are calculated based on the holdings in the account on the last day of each month prior to the charge. Program Fee Schedule The Program Fee is based on the market value of all assets held in my Account, including any cash balances swept into the Edward Jones Money Market Fund. Then came Guided Solutions Flex ... investor747 just for giggles, ask the EJ guy if he'll guarantee returns, say 10%. We are thoughtfully evaluating our office openings and in-person appointments. Fees Under Edward Jones. With fee-based solutions, such as Edward Jones Guided Portfolios and Edward Jones This would not be the case if I had stuck with the FA model. I also had a meeting about 2 months ago and he explained the new fiduciary rules and how EJ is changing. Larger accounts receive lower rates, while increasing the number of asset classes (adding fixed-income, for example) will increase the broker’s fee. The higher the asset value, the lower the fee. For example, the Guided Solutions Flex Account has a minimum asset value of $25,000 while the Guided Solution Fund Account only requires a minimum of $5,000. If you move that money over to the Edward Jones Guided Portfolio and choose to put it into stocks your fee would be 1.8%, which would indeed save you money. With fee-based solutions, such as Edward Jones Guided Portfolios and Edward Jones Portfolio Program, you pay an ongoing fee based on a ... Edward Jones Guided Portfolios is a non-discretionary, fee-based program. To keep the revenue going they are switching folks to plans that involve an "Assets Under Management" (AUM) fee. Bonds 2. The sooner you do this the better, but do it on your timetable. Unknown Boglehead. They were ripping you off before. Average annual balances in Jones’ advisory programs, Advisory Solutions and Guided Solutions, more than doubled to $265 billion in 2017 from $101 billion in 2013, according to the complaint. Copyright © 2020 Edward Jones. Returns on my 60/40 portfolio have been fine, too. Throughout the challenges of recent months, we’ve continued to safely serve investors’ needs. by jaxsonritz » Mon Jun 12, 2017 7:57 pm, Post If you want some visuals to help you understand (and your children too) how much 1.35% will cost you over time see this (below). Edward Jones Fees and Commissions With a $40 annual fee on IRAs, plus a 2% fee on stock trades, dollar cost averaging and reinvested dividends, Edward Jones' fees and commissions are comparable to other full-service brokerages (e.g. New rules will soon be in force that require advisors to put the customer first with respect to retirement accounts. Mutual funds 7. I am new to bogleheads and would really appreciate any advice - from what I have read so far EJ charges way to much. I never liked anything about that company personally but he liked his "broker/planner" and I just monitored his activity. I have more money to spend than at any time in my life and my investment balances are still growing. I used to manage my own portfolio, but I realized that I don't have the time or desire to do so...especially in this volatile and rapidly changing environment. by fisherbr » Fri Mar 10, 2017 7:25 pm, Post Program Fee Schedule The Program Fee is based on the market value of all assets held in my Account, including any cash balances swept into the Edward Jones Money Market Fund. Please note that not all of the investments and services mentioned are available in every state. Edward Jones serves nearly 7 million investors and has the largest retail footprint of any financial services company in America. Fee-based advice, an alternative to embedded commissions, warrants a fresh look. I would like someone to respectfully point out anything I am overlooking or missing. » Fri Mar 10, 2017 11:21 pm, Post Have questions? They will also ask for high ERs, so its not only the 1.35 AUM fee, it could be also another 1.35% for ERs = 2.70% total for EJ each year. If you move that money over to the Edward Jones Guided Portfolio and choose to put it into stocks your fee would be 1.8%, which would indeed save you money. In 2013, Edward Jones created its first proprietary mutual fund, which is available to clients that participate in the Jones’ fee-based Advisory Solutions platform. Should be an interesting answer. Vanguard offers a management option (P.A.S.) This site is designed for U.S. residents only. surprised to hear the fees are that much. By the way, that probably doesn't include the fees of the funds you're invested in, which may contain loads as others have said as high as 5.75%. Learn More. If you are not aware of this, as I wasn't, please do your research. by Pajamas » Tue May 16, 2017 4:18 pm, Post Why has no one discussed investment income? I talked my kids into opening an account with them too - and he wanted them to switch to the 1.35% charge as well - please help. that costs 0.3% instead of 1.35%. And their fees for their funds are generally lower than most competitors (with some recent exceptions). Yes I am paying more, but I am also keeping more, especially when, not if, the next market downturn occurs. An Edward Jones Guided Solutions Flex Account also gives clients control over their investment choices, ... often based on a flat fee or a percentage of client assets. All accounts that participate in an investment advisory program also have an account-level agreement. Frank Azar and Associates filed a class action lawsuit on March 30, 2018, In re Edward D. Jones & Co., L.P. Securities Litigation, Case No. by lazydavid » Mon Jun 05, 2017 9:10 am, Post Even when considering the extra annual fee I am now paying, the large reduction in mutual fund expenses (I had an A-share portfolio), and increased investment income (mainly from dividend oriented stocks and ETFs), almost make up for the increased yearly fee! by Jack FFR1846 » Wed Jun 14, 2017 1:51 pm, Post I recently had a meeting with my Edward Jones advisor - he advised me that I needed to switch my account set up to guided solutions and would be charged an annual fee of 1.35% instead of being charged per trade. I used to work for a small business whose owner had an Edward Jones broker who put him in all kinds of great stocks that turned out to be not so good after all. Edward Jones' account transfer out fee to another brokerage company is $95 for both taxable and non-taxable (IRA) accounts. by investordad » Sat Mar 11, 2017 12:35 am, Post by investordad » Sat Mar 11, 2017 1:03 am, Post The Program Fee is assessed beginning at an annual fee rate of 1.35%, payable monthly in arrears. by DippityDoo » Wed Jun 14, 2017 3:13 pm, Post Fees generally range between 1.35% and 1.50% of assets annually, and can reach 2% when administrative fees and underlying fund expenses are included, it said. Buy and Hold works. "I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." It looks like EJ is charging 1.35% on both taxable accounts and on IRAs. Edward Jones provides investment services to individuals of all sizes and small businesses. It also serves clients in Canada. by JaneyLH » Wed Jun 14, 2017 1:40 pm, Post My FA discounted my fees 20%, so my fees are about 1.06% before internal investment expenses. The CEO of Edward Jones is Penny Pennington. Program Fee Schedule The Program Fee is based on the market value of all assets held in my Account, including any cash balances swept into the Edward Jones Money Market Fund. And then see what everyone else has posted on how much it will cost us to stay with EJ, and realize that it is not worth it. Edward Jones on the other hand, is a privately owned company. College savings 4. Re: Edward Jones Guided Solutions Fees Post by Bogle_Feet » Sat Mar 11, 2017 9:42 am investor747 wrote: and would be charged an annual fee of 1.35% instead of being charged per trade. Your Edward Jones … Edward Jones Guided Solutions® is a client-directed wrap fee program designed to provide the client with ongoing investment advice, guidance and services for an asset-based fee. Home » Disclosures » Account Fees ). Choosing how to invest is a personal decision for everyone. » Fri Mar 10, 2017 8:33 pm, Post For example, the Guided Solutions Flex Account has a minimum asset value of $25,000 while the Guided Solution Fund Account only requires a minimum of $5,000. The owners (shareholders) of Edward Jones expect a return on their investment. My FA discounted my fees 20%, so my fees are about 1.06% before internal investment expenses. by oldcomputerguy » Sat Mar 11, 2017 8:32 am, Post Fees and Commissions Traditional and Roth IRAs at Edward Jones have a $40 annual account fee. Edward Jones IRA Fees Comparison Edward Jones is much more expensive than a self-directed on-line discount broker. Average annual balances in Jones’ advisory programs, Advisory Solutions and Guided Solutions, more than doubled to $265 billion in 2017 from $101 billion in … Vanguard by the way charges absolutely NO loads on ANY of their funds. If changes in the securities holdings within the account are made after the fee has been calculated, the fee will not be reduced. by Dale_G » Tue Jan 31, 2017 4:49 pm, Post Edward Jones Managing Partner Jim Weddle. My wife has an account with Advisory Solutions through Edward Jones they charged her $1,534 in investment fees are these fees deductible As long as the fees were not for a retirement account, they can be included in other miscellaneous itemized expenses. ). With more than 12,000 locations serving nearly 7 million clients in the U.S. and Canada, Edward Jones is one of the largest full service brokers in the country. FYI - New member lalainvest552 has a similar question which I've moved into a new thread: What I don't get is why don't people who feel they have to have an adviser just hire a fee based CFP and pay them once a year or so. When using the investment advisory services like the Guided Solutions and Advisory Solutions programs, your fee rate will be based on the value of the assets in your account. by triceratop » Tue Jun 13, 2017 8:59 pm, Post by BigJohn » Sat Mar 11, 2017 7:33 am, Post The services offered within this site are available exclusively through our U.S. financial advisors. At least you are an informed consumer. by DippityDoo » Wed Jun 14, 2017 1:02 am, Post Brokerage Edward Jones appears to be throwing the baby out with the bathwater. by millennialfalcon » Wed Feb 01, 2017 4:12 pm, Post My advisor clearly laid out all the costs and values that Guided Solutions offers. Thanks for sharing! by Kms840 » Mon Jun 05, 2017 7:50 am, Post OP what accounts do you have with EJ? I'm sure if you use Guided Solutions, there is an AUM. Fees Charged By Edward Jones Financial Advisors. by JW-Retired » Fri Mar 10, 2017 8:53 pm, Post by fposte » Wed Jun 14, 2017 1:59 pm, Post I am retiring next year and my advisor taught me the importance of not only returns, but the sequence of returns in retirement. OP, use this tool and do some "what if" analysis: "We are here to provoke thoughtfulness, not agree with you." Find Financial Advisor If you are unhappy with Edward Jones' pricing or service, you can find a better priced Financial Advisor. Money market funds 6. The Edward Jones Trust Company acts as the custodian for certain Individual Retirement Accounts. by retiredjg » Mon Jun 05, 2017 10:33 am, Post Our Fee-based Investment Programs. One lesson I have learned over my time is that it doesn't matter what you make....it matters what you keep. If you have $500,000 the fee … Check with your financial advisor for more information. by arcticpineapplecorp. 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