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Old 01-23-2021, 11:52 AM   #21
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A friend of ours became an Edward Jones rep and took the DW and I out for a very nice dinner to enlighten us on the glories of becoming EJ clients.

While I really enjoyed the dinner, I kept thinking which client(s) were footing the bill. We said ‘thanks for a lovely evening, but we’re going to stay with Vanguard’.
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Old 01-23-2021, 11:54 AM   #22
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Originally Posted by RunningBum View Post
OP was advised against Eddie Jones 5 years ago. https://www.early-retirement.org/for...not-81392.html

A few months later had decided on VG and had an advisor then : https://www.early-retirement.org/for...-in-84459.html

Why is this decision being revisited?

Comments in those threads referred to past threads with similar uncertainty and advice that wasn't taken.

Not gonna spend more time on this.
So perhaps EJ doing some more market research?
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Old 01-23-2021, 11:57 AM   #23
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So perhaps EJ doing some more market research?
+1

I'm done in this thread.
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Old 01-23-2021, 11:59 AM   #24
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Hi all, been sitting in a money market for a few years with my retirement fund ( untaxed till I take it out) and am thinking of moving it to either Edward Jones or Vanguard. I am 67 years of age and am already withdrawing $3000 a month from the acct.
With Vanguard I would partner with an advisor .
I believe Edward Jones fees are around 1 1/2 % where Vanguard would be around .45%.
I realize that the market is at all time highs and I think there is uncertainty in the country today.
Any thoughts would be appreciated.
Thank You
The acct has about $900 K in it.
I see that you're 67 years old. To the extent you can still run, please muster whatever speed you can and use it to run away from Edward Jones.
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Old 01-23-2021, 12:11 PM   #25
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Nearly everyone here will tell you that EJ is the very last place to consider.

Search for them in threads here and you'll find loads of discussion regarding them (including at least one funny video).
Big +1.
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Old 01-23-2021, 01:07 PM   #26
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So perhaps EJ doing some more market research?
If they did, they're playing a very slow long game, coming on here 4 or 5 times over 11 years!

I'm thinking the OP has issues with putting things off for a long time, and with making decisions.
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Old 01-23-2021, 01:20 PM   #27
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Want to make a million fast with Fast Eddie? Invest 10 Million.
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Old 01-23-2021, 01:35 PM   #28
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I left an inherited IRA from my dad @ EJ. It has done really well but i wont be putting any new money @ EJ because of their FEE's.
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Old 01-23-2021, 01:48 PM   #29
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I left an inherited IRA from my dad @ EJ. It has done really well but i wont be putting any new money @ EJ because of their FEE's.
You could move it to someplace that does not charge fees.
This will save a lot if you expect it to sit there for another 20 yrs.
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Old 01-23-2021, 01:57 PM   #30
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I won't comment on EJ because I haven't ever considered the firm.

However, there is a cost of staying with Vanguard if you have any complicated estate planning. That is one reason why I moved from Vanguard to Fidelity. The other advantage of Fidelity is in-person access. You can purchase Vanguard's ETFs with no fee, Fidelity does charge $75 to purchase a Vanguard mutual fund online. I don't know what non-Vanguard investments are offered by Vanguard.
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Old 01-23-2021, 02:11 PM   #31
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This is true , I did ask about 5 years ago because I was so uncertain as to what to do . I ended up moving it into a Vanguard Money Market Acct where it sits today. I'm sorry if this bothers you but I am still so uncertain as to what to do ,realizing I need to adjust for inflation and with the state of the country and uncertainty of the Stock Market.
I have received so many good answers and I thank those who gave them to me ,it is truly appreciated!
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Old 01-23-2021, 02:15 PM   #32
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Thank you ,You describe me to a tee , I have a real problem with making decisions!
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Old 01-23-2021, 02:15 PM   #33
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You could move it to someplace that does not charge fees.
This will save a lot if you expect it to sit there for another 20 yrs.
I have already paid the front load fees and was told the account was grandfathered and there are no Fee or charges on the old money. My monthly statements dont show any fees. I have them send me a check when i take my RMD.

Like i said I would not put any NEW money @ EJ. EJ maybe charging me something but i have been able to find it.
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Old 01-23-2021, 02:16 PM   #34
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If they did, they're playing a very slow long game, coming on here 4 or 5 times over 11 years!

I'm thinking the OP has issues with putting things off for a long time, and with making decisions.
Your right ,you describe me to a tee!
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Old 01-23-2021, 02:27 PM   #35
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... uncertain as to what to do ...
Come on in! The water's fine. In investing, analysis paralysis can be hazardous to your wealth, particularly where it involves paying unnecessary fees. (Hint: You can move your EJ account to VG or another broker without ever talking to EJ. You just fill out a form and the receiving broker takes care of the transfer. If your EJ guy calls, don't take the call. If he catches you, say "Sorry I'm tied up. I'll call you back." then don't do it.)

Here is a piece not aimed at you but well worth a read: "If You Can" by William Bernstein https://www.etf.com/docs/IfYouCan.pdf (free 16 page download)

Here is a book aimed at people who are somewhat intimidated by all this: "The Coffee House Investor" by Bill Schultheis https://www.coffeehouseinvestor.com/

also, a little more advanced: The Bogleheads Guide to Investing" by Taylor Larimore et al https://www.amazon.com/Bogleheads-Gu.../dp/0470067365
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Old 01-23-2021, 02:30 PM   #36
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... Search for them in threads here and you'll find loads of discussion regarding them (including at least one funny video).
Do you have the link to that video? I've lost it and my Google-Fu is inadequate to find it. Or maybe EJ Legal got it pulled down?
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Old 01-23-2021, 02:36 PM   #37
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Do you have the link to that video? I've lost it and my Google-Fu is inadequate to find it. Or maybe EJ Legal got it pulled down?
Here it is, still funny as ever:
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Old 01-23-2021, 02:39 PM   #38
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Run, donít walk, from Edward Jones and any other firm that isnít named Vanguard, Schwab or Fidelity.
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Old 01-23-2021, 02:44 PM   #39
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I have already paid the front load fees and was told the account was grandfathered and there are no Fee or charges on the old money. My monthly statements dont show any fees. I have them send me a check when i take my RMD.

Like i said I would not put any NEW money @ EJ. EJ maybe charging me something but i have been able to find it.
EJ is probably costing you in three ways, maybe four.

1. 12b1 fees are almost ubiquitous on load funds and they don't show up on statements. Just in the salesperson's paycheck. https://www.investopedia.com/terms/1/12b-1fees.asp

2. Load funds usually have high management fees because they are sold to people who don't know to ask and because of inclusion of the 12b1 fees.

3. High management fees are positively correlated with poor fund performance. https://www.morningstar.com/articles...r-failure.html

4. Funds may have back-end loads.

A little on-line research at Morningstar or other independent analysis sites may help you find the hidden costs in each of your funds. Your worst hit is almost certainly fund underperformance. I just reviewed a portfolio that was 100% in Franklin-Templeton load funds and the unwary nonprofit was losing $30K-$60K a year on $4M.
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Old 01-23-2021, 03:02 PM   #40
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Here it is, still funny as ever:
Had to stop listening to it. Unacceptable language for me.

Obviously, YMMV.
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