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Old 01-27-2021, 06:51 PM   #61
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No doubt at all: go with Vanguard.
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Old 01-28-2021, 09:39 AM   #62
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Originally Posted by ExFlyBoy5 View Post
Our local EJ advisor dropped off a can of black eyed peas at our front door with a "Happy New Year!" note attached. VG hasn't done that...

I hope he wasn’t referring to your investments returns because you didn’t make money last year I doubt you’ll ever will.
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Old 01-28-2021, 10:15 AM   #63
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I hope he wasn’t referring to your investments returns because you didn’t make money last year I doubt you’ll ever will.
You aren't kidding. There is a fella who I flew w/ in the Air Force who went on to become an EJ advisor. He posted last week pictures of his nice, BRAND NEW Porsche 911...which as I understand has an MSRP that STARTS around 100K. So, I think he has had at least a couple of good years. I didn't see what our local EJs guy was driving, though.
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Edward Jones vrs Vanguard
Old 01-28-2021, 07:25 PM   #64
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Originally Posted by ExFlyBoy5 View Post
You aren't kidding. There is a fella who I flew w/ in the Air Force who went on to become an EJ advisor. He posted last week pictures of his nice, BRAND NEW Porsche 911...which as I understand has an MSRP that STARTS around 100K. So, I think he has had at least a couple of good years. I didn't see what our local EJs guy was driving, though.

That’s one of the professions where the facade of success is important to impress the marks, er, prospective clients, even if it requires the “successful” professional to live beyond their means. I have a friend who joined a law firm and came to work in a new Toyota Camry. The top partner told him to take it back and buy (lease) a BMW. He wasn’t kidding and my friend did as told.
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Edward Jones vrs Vanguard
Old 01-28-2021, 08:22 PM   #65
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Edward Jones vrs Vanguard

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Originally Posted by Dd852 View Post
Academic bios tend to be like that - the convention is to include absolutely everything. You can’t blame him for that, it is the way the profession expects it.


Black-eyed Peas!!!!! I gotta believe that present and the “better luck” comment would not be appreciated by many/most clients. I get it but Im really not looking for luck from the guys managing my money. LOL

Edit: and canned peas at that!
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Old 01-29-2021, 05:21 PM   #66
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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.
1) Go with Vanguard, Fidelity, or Schwab.
I prefer Fidelity if you want services such as: able to talk to someone at 2 AM, free wire fees, 3% cashback credit card, etc.

My son has Vanguard - invest in Index Fund and does not change so any advisor fees. But he says the service is awful. I was thinking of going to Vanguard to lower my Fidelity PAS fees (~0.13 based on my assets) and he said that it was a stupid thing to do at my age (75) when I should let someone managed the portfolio professionally with fiduciary and not waste my time researching, managing, and balancing. How much more money do I need and what would do with more money anyway. Develop and hobby and spend time in that instead of looking for a little better return. He was correct - stayed with Fidelity.
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Old 01-29-2021, 06:34 PM   #67
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Originally Posted by ExFlyBoy5 View Post
Our local EJ advisor dropped off a can of black eyed peas at our front door with a "Happy New Year!" note attached. VG hasn't done that...
"Hope for a better year"? Financially, 2020 was pretty darn good! I think all my funds made more than 20%.
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Old 01-29-2021, 06:46 PM   #68
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Originally Posted by MarieIG View Post
I just popped over to the Vanguard website.

This was taken from there:

" What does advice cost at Vanguard?

Just as we reinvented investing with our low-cost mutual funds, we've reinvented retirement solutions—by giving you the chance to get customized advice at a low cost.

The annual cost for Vanguard Personal Advisor Services is only 0.30% of your assets we manage. That's just $3 for every $1,000 under management."

This appears to indicate the AUM fee is .3 percent. From where does the .45 percent come?

They include the cost of the funds recommended.
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Old 01-31-2021, 10:57 AM   #69
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I'm late to this game but...

EJ fees 150 bps + fund ER

VG PAS fees 30 bps + fund ER

No reason not to trend toward VG, unless you like paying for that guys Bentley parked in his driveway.
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Old 02-04-2021, 11:06 AM   #70
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Fast Eddie's reputation is that they gouge their customers in many ways. One is selling expensive annuities, which I know to be a fact from what they did to a financially naive friend of mine. Before I got him out of their clutches he owned "four or five" annuities. At least a couple of them were arranged so that they could not be moved to another firm.

I have read that their reps get only sales training, no investment training at all.

I think your best alternatives are VG, Schwab, and Fidelity. All three have good reputations here and many happy clients. Differences are minor; VG tends to be less personal and the cheapest, Schwab and Fido are similar in most respects with Fido maybe being a little more aggressive in upselling clients to more profitable products than mutual funds. With $900K, if you want more support than VG offers, I would negotiate for a 1% fee. 1.5% is too much for that size portfolio IMO.

Garret Planning Network and napfa.org seem to get positive reviews around here, but I have no personal experience. Both offer financial planning on a fee-for-service basis. For example, a couple of $K to work with you to develop a plan, then offer less expensive reviews periodically. "Fee only" advisors do not get paid commissions, but most offer "wrap fees" like the 1 1/2% that Fast Eddie is pitching.

Most here would advise you to avoid wrap fees (aka AUM/assets under management). One common aphorism is" By the time you have learned enough to select a good advisor, you don't need one any more."
+1. A good summary.
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Old 05-30-2021, 12:46 PM   #71
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Originally Posted by lacawac View Post
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.
EJ has high fees. Vanguard is the choice.
EJ also has front load fees and high ER.
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Old 05-30-2021, 12:58 PM   #72
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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.
WOW! You have forgone a LOT of returns for those few years! Ouch!

I'm late to this thread but must say that whether you pick Vanguard or some other place to keep your retirement money, do something (reasonably appropriate for the current times).

Have you considered leaving the money in your 401k and simply switching the AA to something a tad more aggressive than MM?
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Old 05-30-2021, 01:19 PM   #73
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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.
Are you a part time detective?
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Old 05-30-2021, 02:01 PM   #74
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I have talked to an EJ representative in the past that came door-to-door, and he seem like a very nice guy, family, background, etc. However I question whether he knew that the deal he was trying to sell was not for me, after I explained my situation. There was no way I was going to fall for it. But he still promoted it? Kind of like wondering if a politician knows he’s lying.
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Old 05-30-2021, 03:11 PM   #75
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Are you a part time detective?
I have a good memory. Not everything sticks, but some things do, at least enough to combine with knowing how to use the advanced search feature on this site.
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Old 05-30-2021, 05:24 PM   #76
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I am learning the hard way. I have been with EJ since 2007 and now looking to leave.
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Old 05-30-2021, 05:42 PM   #77
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I am learning the hard way. I have been with EJ since 2007 and now looking to leave.


You won’t look back.
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Old 05-30-2021, 05:47 PM   #78
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You won’t look back.
Pretty sure I won’t. I was a blind investor. I read reviews on American Funds Class A and they were all good.
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Old 05-30-2021, 06:46 PM   #79
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A friend has his investments at EJ. He is knocking it out of the park, so he says. Just imagine if he had those investments at Vanguard or Fidelity or Schwab. We discussed this in a pm, I'll never bring it up again!
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Old 05-30-2021, 06:48 PM   #80
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A friend has his investments at EJ. He is knocking it out of the park, so he says. Just imagine if he had those investments at Vanguard or Fidelity or Schwab. We discussed this in a pm, I'll never bring it up again!
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