Switch to Vanguard from Edward Jones

[athena53]

I've known people who were very glad to pay less tax with their muni bonds, but that doesn't mean the munis were a good investment over-all for them. Anyhow, there are muni-funds, so that is EZ to do.

Not the same thing. With muni funds you're stuck with whatever sell decisions the fund manager makes when people panic and sell as interest rates increase. As long as you're happy with the yield and default risk, you can hold an individual bond to maturity and actually get the yield you paid for.

 

[frayne]

Interesting thread, EJ much more helpful than Vanguard, and no phone trees. Always seem willing to talk to you, and friendly. I wouldn't want an 800 number for my medicine, nor my finances.

Guess that is all good if you're willing to pay for the cost. I prefer to stay informed and save myself a few dollars.

 

[MRG]

Guess that is all good if you're willing to pay for the cost. I prefer to stay informed and save myself a few dollars.

Some folks give themselves a 30% raise by switching. I agree stay informed and don't support bad investment ideas.

 

[travelover]

Interesting thread, EJ much more helpful than Vanguard, and no phone trees. Always seem willing to talk to you, and friendly. I wouldn't want an 800 number for my medicine, nor my finances.

So, true and Vanguard doesn't even send you a birthday card. Of course, it is a $10,000 card........

 

[ERD50]

Originally Posted by ERD50 View Post
I've known people who were very glad to pay less tax with their muni bonds, but that doesn't mean the munis were a good investment over-all for them. Anyhow, there are muni-funds, so that is EZ to do.

Not the same thing. With muni funds you're stuck with whatever sell decisions the fund manager makes when people panic and sell as interest rates increase. As long as you're happy with the yield and default risk, you can hold an individual bond to maturity and actually get the yield you paid for.

My point (in this old, curiously resurrected thread) was about some people being 'happy' with the advice they got from the FA, regardless of whether that was good advice or not.

I attempted (and wasn't all the clear), to say that I've known people who were happy that their FA pointed out that they could save taxes by using munis (funds or individual, not important to the point). It wasn't until years later that these people came to realize that munis pay lower % rates. So was it good advice overall? Maybe not, maybe so, it depends on many things. But their 'happiness' existed in ignorance.

-ERD50

 

[Hiness58]

I have inherited monies with Edward Jones, but I want to move all to Vanguard to save on fees. I need all I can get for retirement. I'm already 58!

 

[travelover]

I have inherited monies with Edward Jones, but I want to move all to Vanguard to save on fees. I need all I can get for retirement. I'm already 58!

Good for you! Vanguard can handle it all for you, thought EJ may take a last bite out of the pie before it goes.

 

[powerplay]

I have inherited monies with Edward Jones, but I want to move all to Vanguard to save on fees. I need all I can get for retirement. I'm already 58!

I moved an inherited IRA from EJ to Vanguard a couple years ago. It went smoothly although took a few weeks. I worked with Vanguard and had them initiate the transaction.

 

[MRG]

I moved an inherited IRA from EJ to Vanguard a couple years ago. It went smoothly although took a few weeks. I worked with Vanguard and had them initiate the transaction.

Yes just have Vanguard initiate the transfer. Jones can't stop you but they can be a royal PIA. You may still get hit with fees from EDJ, but in a month you'll be ahead.