Edward Jones vrs Vanguard

[Bruno]

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.

 

[F.I.R.E User]

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?

 

[Bruno]

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/default/files/acquiadam/2020-09/ira-schedule-of-fees.pdf

 

[F.I.R.E User]

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/default/files/acquiadam/2020-09/ira-schedule-of-fees.pdf

Yes but Fido will credit you depending on how much you bring over.

 

[FloridaJim57]

Vanguard vs EJ ? Vanguard, hands down. This is like asking me who would win in a fight between Charles Bronson and Don Knotts.

 

[JustCurious]

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.

 

[Bamaman]

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.

 

[ExFlyBoy5]

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.

 

[MRG]

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.

 

[F.I.R.E User]

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?

 

[F.I.R.E User]

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?

 

[ExFlyBoy5]

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.

 

[F.I.R.E User]

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?

 

[ExFlyBoy5]

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.

 

[F.I.R.E User]

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.

 

[CoolRich59]

They want to charge me $95 termination fee and $40 closing fee.

Another way to look at it: $135 to never have to deal with EJ again? It’s a bargain!

 

[F.I.R.E User]

Another way to look at it: $135 to never have to deal with EJ again? It’s a bargain!

Fidelity will reimburse me fully.

 

[CoolRich59]

Fidelity will reimburse me fully.

Even better!

 

[F.I.R.E User]

Even better!

Yes. I did transfer all my funds from EJ to Fidelity.