the financial advisor gets familiar with your financial situation and goals, then builds a customized investment strategy to help you. and if you are doing much better than 2%, the fees are a significant drag on your returns. jack bogle, the founder of vanguard, has been quoted saying over a 50-year timeframe this difference in fees could eat away up to 70% of your returns. regardless of the firm its all about the adviser and your relationship to that adviser. depending on the long term average rate of return needed to reach your goals, volatilty cannot be avoided and is simply a means to an end. in actually think the percentage payment to an advisor is more of a conflict of interest per say. i’ve dealt with almost every brokerage you can think of and in my opinion ed jones was by far the worst. pay a good fee-only advisor for some portfolio advice, and you are likely to be far ahead of the game. my advisor always keeps some cash on hand in case the market goes down and we have a buying opportunity. watch out for the smooth talkers and get to know your fa on a personal level and the trust factor will begin to show itself. hate to change have been friends with advisor for years at ej but it’s about the dollar.. i need it more than they do and it means thousands for me. i think you can get by with 3-5 index funds and not pay a financial adviser. do a little reading and you can save your 2% annual fee, 5.25% front loaded funds, and not but junk funds that don’t even produce over the long haul. its interesting to read the comments above about fees and expenses, but what’s more interesting is the lack of talk about what time in the market does for your portfolio. people have mentioned that the 1-2% fees don’t make that much of a difference. did your advisor tell you to take a step back this week and get more conservative? after leaving ej and going to vanguard, i will tell you the difference is huge. all edward jones cares is they are making money and leaving the risk to you. the problem is that people cannot deal with the inherent and recurring temporary declines, even though those declines are simply a means to an end of their long term performance. the cost to us is worth it and in this sense, they do a great job. edward jones also doesn’t offer tools that allow the cfp to work any differently than an advisor who is in the business for a few days. if you want a relationship and friendship, go get some friends and leave your finances out of the picture.
and higher fees, over the years, add up to a huge difference. steer clear of these thieves, it will cost you a lot more in the long run. if you want to do business with edward jones, and don’t care about your financial advisor, the company might work for you. out of the 11,000 branches out there, there might be some good “advisors.” i have a sizeable inheritance (now not so sizeable because of edward jones’ churning.) i think the problem is that i am a single woman, somewhat older, with no one to help out. i find all the article and comments irrelevant to my experience with ej. i recommend two websites: morningstar.com and feex.com go to morningstar.com and get a quote for your mutual funds. if you don’t have much money, it is going to be very expensive, because you are trying to compete for attention with people who have a lot more money, and pay a lot more for the advisors time than you do. i’m not against an advisor making money but it isn’t the best interest of our readers to say paying over 1% in annual fees is a ‘good deal’, when it simply isn’t and they are cheaper alternatives with similar service. if the market returns 5% a year on your investments and you pay 1%, simple math you are paying 20%, one percent compounded is huge over a lifetime of investing. with the governments stated economic policy of holding inflation to between 2-3 percent, that leaves you with a real return of 4-5 percent. you should interview multiple advisors and firms in order to determine if they are the right fit for you. b. what your edward jones advisor would most likely recommend in this scenario is that you instead make use of a transactional account and let’s say you pay $2,000 up front, or 2%. ej will provide advice on any of these in regards to their relative merits and risks in a portfolio and why they chose not to sell some of the above. most of the rich understand that value of leaning on a professional for advice in their specialization. jones advisors are generally not qualified to be investment analysts and the tools they have to manage money are very basic. i was ready to cash everything in and put the money in a standard bank account, but i decided to give investing on my own a chance. they push a share products with massive load fees piled on and the mf company will “kickback” a portion of this fee to the advisor for a commission. have fun on your ed jones paid for vacation to the bahamas this year. there are goods and bads in all of them…..regardless of the name of the firm. now that i know what i am doing, i stick with the company mostly because of loyalty — and because i received good service, i can afford a full service broker. even if you are in a fee-based account, the advisor is still working off of commission. what needs to be looked at in truth is the return you are getting, going to get you to achieve your financial goals.
it can be a great career but get ready for working 6 days a week (including holidays) 10 hrs a day for very little pay the first few years. it is brutal knocking on doors to get business and that is where most people get all their clients. financial services firm edward jones once again has been named a top company for training. the firm ranked no. 25 on the main benefit of working with edward jones is the financial advisor., working at edward jones reddit, working at edward jones reddit, working for edward jones salary, why do you want to work for edward jones, edward jones reviews bbb.
an edward jones financial advisor salary is based on our performance-based program. the program is designed to i had to sign a paper that i would not sue them, but my lawyer said that is not worth the paper it’s written on to get my it’s longer than normal, but i hope you’ll find it well worth your time. in 2004, highly regarded investment firm edward jones fifth in fortune’s “100 best companies to work for,” and it , edward jones hiring process, edward jones careers, edward jones career mixer, edward jones financial advisor salary
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