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Old 06-01-2021, 06:59 AM   #121
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Nearly impossible for MF to go to zero. Looks like he got his emotions tied into his FA. Got to leave emotions out. They are just sales people.


You may be missing the point. His decision to use FA was driven by a sense of obligation to a young wife who would not be capable of self management. Very likely he will die first. Not everyone can leave emotions out and maybe most of the value an FA can provide is handholding etc if you are lucky enough to get a decent one.
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Old 06-01-2021, 10:59 AM   #122
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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 don't think you have a good allocation. Maybe it would suffice to use a fee based financial planner rather than one billing based on a percentage of assets. I think some people benefit from help. Others like DIY
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Old 06-01-2021, 11:17 AM   #123
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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.
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I know your feeling. My plan is to leave the money in EJ to my kids but when my dad died, EJ sold all funds to divide three ways and we all 3 paid the 3.5% to 4% front load fee's again. This amount let us pay a smaller load fee. At the time I didnt even know about front load fee's. I do NOW.

I am looking at moving this account to VG. I dont want my kids make the same mistake i did.
Vanguard won’t credit you the total of $135 fee EJ may charge. I am going with Fidelity. They will credit me.
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Old 06-01-2021, 11:27 AM   #124
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.......... EJ sold all funds to divide three ways and we all 3 paid the 3.5% to 4% front load fee's again........
I must say that EJ is consistent. They get you when you go in, get you while you are there and get you again when you leave.
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Old 06-01-2021, 11:56 AM   #125
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I must say that EJ is consistent. They get you when you go in, get you while you are there and get you again when you leave.
They want to charge me $95 termination fee and $40 closing fee.
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Old 06-01-2021, 12:20 PM   #126
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Vanguard won’t credit you the total of $135 fee EJ may charge. I am going with Fidelity. They will credit me.
My main account is at Fido but was at VG until thing went south for them. I still have my VWENX and VWIAX at VG was not able to buy them at Fido. Fido is not much better now.

I was told at one time it was $75 to close EJ my account but someone else said to leave some money like $25 to save the closing account fee. I do not know if that would work EJ does charge me a $40 annual fee.
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Old 06-01-2021, 12:33 PM   #127
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My main account is at Fido but was at VG until thing went south for them. I still have my VWENX and VWIAX at VG was not able to buy them at Fido. Fido is not much better now.

I was told at one time it was $75 to close EJ my account but someone else said to leave some money like $25 to save the closing account fee. I do not know if that would work EJ does charge me a $40 annual fee.
So $75 plus $40?
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Old 06-01-2021, 03:12 PM   #128
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So $75 plus $40?
That was a long time ago. I believe your figures are correct.

EJ Total transfer or termination of an account. $95.00 the $40 might be the annual fee.

Here is what i found..

https://www.edwardjones.com/sites/de...le-of-fees.pdf
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Old 06-01-2021, 03:15 PM   #129
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That was a long time ago. I believe your figures are correct.

EJ Total transfer or termination of an account. $95.00 the $40 might be the annual fee.

Here is what i found..

https://www.edwardjones.com/sites/de...le-of-fees.pdf
Yes but Fido will credit you depending on how much you bring over.
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Old 06-03-2021, 08:09 PM   #130
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Vanguard vs EJ ? Vanguard, hands down. This is like asking me who would win in a fight between Charles Bronson and Don Knotts.
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Old 06-03-2021, 10:31 PM   #131
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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.
I agree. Avoid Edward Jones like the plague.
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Old 06-04-2021, 07:19 AM   #132
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My cousin's son is an EJ advisor. They are always going to meetings in fancy ultra high line resorts.

He is expected to be at all the lunch club meetings, coach baseball and be seen at college athletic events. They sold a beautiful 4000 square ft home and built even larger.

And I wouldn't consider doing business with him. Someone's paying thru the nose.
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Old 06-04-2021, 10:01 AM   #133
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My cousin's son is an EJ advisor. They are always going to meetings in fancy ultra high line resorts.

He is expected to be at all the lunch club meetings, coach baseball and be seen at college athletic events. They sold a beautiful 4000 square ft home and built even larger.

And I wouldn't consider doing business with him. Someone's paying thru the nose.
I have mentioned before that I used to w*rk/fly with a fella that is now an EJ advisor. He is living a pretty lavish lifestyle and your accounting mirrors what I have come to understand. I had the occasion to visit with him not too long ago and he is a very changed person.

I know that I haven't seen him in about 8 years but the change was really shocking and not in a good way. Usually when I visit/catch up with folks I used to fly with...it's a great time...but this visit? I couldn't drink my beer fast enough.
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Old 06-04-2021, 02:55 PM   #134
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I have mentioned before that I used to w*rk/fly with a fella that is now an EJ advisor. He is living a pretty lavish lifestyle and your accounting mirrors what I have come to understand. I had the occasion to visit with him not too long ago and he is a very changed person.

I know that I haven't seen him in about 8 years but the change was really shocking and not in a good way. Usually when I visit/catch up with folks I used to fly with...it's a great time...but this visit? I couldn't drink my beer fast enough.
+1
I've crossed paths with a number of former Megacorp recruited by Jones. Two guys were known blithering idiots but the third was well respected. A lot of former Megacorp knew and thought well of him; obviously they could trusted him. A friend told me all about the variable annuity he'd sold her. She's not the best with numbers and he told her what a "great deal" she was getting. I didn't have the heart to tell her how badly this guy mistreated her. Hope she's OK, her husband is much older than her and I think his pension goes away when he does.
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Old 06-06-2021, 07:55 PM   #135
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My cousin's son is an EJ advisor. They are always going to meetings in fancy ultra high line resorts.

He is expected to be at all the lunch club meetings, coach baseball and be seen at college athletic events. They sold a beautiful 4000 square ft home and built even larger.

And I wouldn't consider doing business with him. Someone's paying thru the nose.
How much does an average EJ FA make annually?
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Old 06-06-2021, 07:57 PM   #136
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I have mentioned before that I used to w*rk/fly with a fella that is now an EJ advisor. He is living a pretty lavish lifestyle and your accounting mirrors what I have come to understand. I had the occasion to visit with him not too long ago and he is a very changed person.

I know that I haven't seen him in about 8 years but the change was really shocking and not in a good way. Usually when I visit/catch up with folks I used to fly with...it's a great time...but this visit? I couldn't drink my beer fast enough.
What’s changed about him?
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Old 06-07-2021, 09:14 AM   #137
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What’s changed about him?
Mainly attitude. I would best describe it as a god complex. Almost as though the world owed him something and he wanted it on a silver platter. And he was pretty rude to the wait staff which I had not seen before and it was pretty embarrassing. Not saying the EJs did this to him, but he sure talked it up and he seems to eat/breathe/sleep *everything* EJ.
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Old 06-07-2021, 09:59 AM   #138
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Mainly attitude. I would best describe it as a god complex. Almost as though the world owed him something and he wanted it on a silver platter. And he was pretty rude to the wait staff which I had not seen before and it was pretty embarrassing. Not saying the EJs did this to him, but he sure talked it up and he seems to eat/breathe/sleep *everything* EJ.
Is he also on F.I.R.E path?
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Old 06-07-2021, 10:03 AM   #139
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Is he also on F.I.R.E path?
I have no idea as it hasn't come up in conversations with him. I would guess with some of his extravagant purchases, it's probably not on his radar.
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Old 06-07-2021, 10:07 AM   #140
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I have no idea as it hasn't come up in conversations with him. I would guess with some of his extravagant purchases, it's probably not on his radar.
People I’ve chatted online on F.I.R.E are fairly humble and want to help you. You probably have more money than him. Maybe, he is in debt who knows. Generally, wealthy folks who made it from nothing are very nice.
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