Edward Jones

I’m currently using Edward Jones to manage investments I’m 65 retired and not very knowledgeable on investments. What the pros or cons about using Edward Jones, is their specific things I should look out for or should I look for other ways to manage my portfolio

My parents (now in their 90s) used them because a guy at church recommended them.

IMO, they were sold too many high fee funds that cost them too much in commissions and fees.

However, at 68 I am a confirmed Boglehead. I fired my Merrill Lynch advisor of 20 years, simplified my accounts and now I self manage them. Best financial move I ever made. I also moved my parents account to a low fee, conservative portfolio.

PM me if you want to.

A relative of mine gifted me a stock years ago through Edward Jones. Personally, I steer people away from them. The commission is so ridiculously high it’s simply not worth it, at least not for someone like me…like (probably) a lot of us that just want to play around with stocks.
Their commission is $50 per trade. For people that don’t understand, that’s $50 per move. If you have $1000 worth of Home Depot stock and want to get rid of it and get Lowes stock, you’re going to end up with $900 worth of Lowes stock. This is really only worth it in two cases. 1)Your broker gives you really good advice and/or 2)The amount of money you move is big enough that $50 per trade doesn’t bite in to it too much. IOW, if you want someone to hold your hand while you shuffle your $250,000+ retirement fund once a year or so, it’s probably worth it.

Having said all that, because of relationship I had with them, I still have a bit of money there. I gave them a couple grand to see what they could actually do with it, compared to what I could do with about the same amount of money. I only let them move it around in No Commission Funds (so the trades are free) and last I checked, we’re doing about the same.

Since the OP is looking for advice let’s move this to IMHO.

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Our Fiancial guy moved from Wells Fargo to Edward Jones. Have a meeting with the new one at Wells Fargo and with him on Monday. Our portfolio is pretty static now. We’re on the Other side working towards retirement. We will see.

I’m good with them. But I don’t churn my portfolio or pretend I can outsmart the other day traders; I leave it all in a couple of mutuals with them (except for my employer’s 401K) and I make sure I leave it there. The fees are unnoticeable that way and the returns and advice are good.