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Posted: 2/26/2019 8:09:01 PM EDT
[#1]
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Congrats! Quote HistoryQuoted:
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I've always been happy with Vanguard and Fidelity. |
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Posted: 2/26/2019 8:14:57 PM EDT
[#2]
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99.9% of 'advisors' are actually sales people. Quote HistoryQuoted:
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Interesting reading! We have been with EJ for about 10 years now and have three accounts with them. Guess we have a good agent as we have made money every year, usually 8.5-9.2%, but have over $250K in the accounts. Do they go up and down each month, yep, but we are in for a longer haul. Do I think the agent and your relationship with them makes a difference? Yes, absolutely. This guy came highly recommended by someone I consider very shrewd with their money. Mine went down last year due to that downturn but I've got a while left before I retire so I wasn't worried about it. And my return has been VERY good. Ak is wrong by saying they made 8.5-9.2% every year that is a false statement. Because when using markowitz you don't have it both ways. There is really nothing wrong with doing business with prople you know and trust...but EJ isn't a magic investment bullet. edit/ In my experience, Ed Jones people are not advisors, they are sales people. At least they aren't Northwestern Mutual. :-) Then it changes. You normally have a guys doing client relations/sales, guys doing the asset allocations strategies and then the guys doing the planning. |
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Posted: 2/26/2019 8:15:27 PM EDT
[#3]
I'm not blaming EJ on that one. Fool me once, etc. You left your money with them for three years.
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Posted: 2/26/2019 8:15:55 PM EDT
[#4]
OP, if you want to quickly lose the rest of your money, try UBS.
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Posted: 2/26/2019 8:16:32 PM EDT
[#5]
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@midcap If not the box store resource for meh mutual funds and over paying fees for a B grade adjent to glance at your account once or twice a year, where would a guy go to have someone manage the small bit of money he is putting back? I can't recommend anyone but there are plenty of outfits that solve his problem and provide an actual person. |
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Posted: 2/26/2019 8:17:46 PM EDT
[#6]
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OP, if you want to quickly lose the rest of your money, try UBS. Elle oh Effin Elle. last I checked homie is back at work |
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Posted: 2/26/2019 9:59:00 PM EDT
[#7]
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@midcap If not the box store resource for meh mutual funds and over paying fees for a B grade adjent to glance at your account once or twice a year, where would a guy go to have someone manage the small bit of money he is putting back? |
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Posted: 2/26/2019 10:00:50 PM EDT
[#8]
crooks
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Posted: 2/26/2019 10:03:53 PM EDT
[#9]
Change funds. I'm with EJ, over 50k invested there is no annual fee, under 50k it was 10 bucks.
My return since starting has averaged over 13% since the late 90's |
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Posted: 2/26/2019 10:03:59 PM EDT
[#10]
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Yes, all funds have 12b-1s or some kind of management fee. You're thinking of no-load funds, where load refers to commission. Quote HistoryQuoted:
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First of all, all mutual funds have fees for running the fund called 12b-1's. Most range from 75 to 120 basis points. It's not uncommon for custodian firms to charge an IRA maintenance fee for tax reporting. Secondly, you always have market risk with any investment. Third, you shouldn't have taken a check to transfer to another IRA, you should have initiated a transfer from your other account and have it sent from that firm to Edward Jones to move the account. Lastly, most firms will charge an account closing fee. I don't think it's right but it's not uncommon. That being said, Edward Jones has a bunch of know-nothing "advisors." They'll take anybody off the street and give them a shot at being a financial representative as long as they can pass the requisite exams. They are also free to move your account to another rep if your original rep leaves the firm. I'm a registered securities principal for a broker/dealer and I also slept at a Holiday Inn Express last night. I'm a CFP and I sleep at Marriot's. 
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Posted: 2/26/2019 10:24:44 PM EDT
[#11]
Quote HistoryQuoted: already addressed but no, I am not referring to just that. I'm a CFP and I sleep at Marriot's. Quote HistoryQuoted: already addressed but no, I am not referring to just that. I'm a CFP and I sleep at Marriot's. Quoted:
That is true, until you get into the Indie/RIA world Then it changes. You normally have a guys doing client relations/sales, guys doing the asset allocations strategies and then the guys doing the planning. |
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Posted: 2/26/2019 10:43:08 PM EDT
[#12]
save a couple more hundred, buy a coogie and bury it in your sock drawer.
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Posted: 2/27/2019 1:42:43 AM EDT
[#13]
Quote HistoryQuoted: Front end sales loads are going the way of the dodo https://www.edwardjones.com/images/guided-solutions-fund-schedule-of-fees.pdf 1.35 up to 250,000 1.30 next 250,000 1.30 x 500,000 = 6,500/yr x 20 yrs = 130,000 
But wait let’s throw in those nice triple digit ERs and your fees are probably closer to 2-2.5%. Plus transaction fee to reinvest dividends Plus transaction fee to buy/sell to “rebalance” If the market is roaring at 10% a year you won’t notice as much as if it’s putzing along at 5-6%, then you’re probably looking at negative total returns in both real and nominal terms. Instead you could start an account with Vanguard or Fidelity, either lump sum or automatically DCA into a Target Date fund with a .10-.15 ER and not have to lift a finger. Sad! |
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Posted: 2/27/2019 2:26:16 AM EDT
[#14]
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Big Investment Lie is a load of horse crap. The gist of it is that Advisors can't beat an index. nicholascageyoudontsay.jpg Quote HistoryQuoted:
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It sounds like you need to read "the big investment lie" The gist of it is that Advisors can't beat an index. nicholascageyoudontsay.jpg |
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Posted: 2/27/2019 2:35:25 AM EDT
[#15]
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I don't think I would go that far, but certainly do your due diligence and avoid excessive fees. Quote HistoryQuoted:
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dont use financial advisors |
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Posted: 2/27/2019 3:42:31 AM EDT
[#16]
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Why do you hate math? Quote HistoryQuoted:
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It sounds like you need to read "the big investment lie" The gist of it is that Advisors can't beat an index. nicholascageyoudontsay.jpg If client don’t know Advisor show them the way Hold hand add value |
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Posted: 2/27/2019 3:42:54 AM EDT
[#17]
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How about don't call salesmen advisors. Quote HistoryQuoted:
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dont use financial advisors |
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Posted: 2/27/2019 6:34:46 AM EDT
[#18]
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So why is that not reflected in their portfolio's beta measurements? did you ever ask them that? You aren't the only one to have told me that. I was talking to a guy the other day saying the same thing as his investments burned down in Q4 Quote HistoryQuoted:
So why is that not reflected in their portfolio's beta measurements? did you ever ask them that? You aren't the only one to have told me that. I was talking to a guy the other day saying the same thing as his investments burned down in Q4 Quoted:
If you the client has a long-term growth objective and a high risk tolerance and they have you in low-risk investments, they're kinda fucking you over. I'd want my portfolio to match my risk tolerance and objectives without having to do my own research. |
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Posted: 2/27/2019 6:39:23 AM EDT
[#19]
You mean the investment guy at EJ makes a commission? No shit?
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Posted: 2/27/2019 6:45:44 AM EDT
[#20]
My EJ advisor turned out to be a liar. She ignored her fiduciary duty to benefit herself, so I terminated the account.
I won't say that one individual's actions represent an entire company, but I will say that it's the only bad experience I have ever had with any investment representative at any company. -Hobbit |
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Posted: 2/27/2019 6:48:10 AM EDT
[#21]
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My EJ advisor turned out to be a liar. She ignored her fiduciary duty to benefit herself, so I terminated the account. I won't say that one individual's actions represent an entire company, but I will say that it's the only bad experience I have ever had with any investment representative at any company. -Hobbit |
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Posted: 2/27/2019 6:51:57 AM EDT
[#22]
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Not sure about the beta measurements. Ours were down Q4, but nothing that I would call "burned down". I am just speaking from one perspective/opinion. Not speaking for the company. We are well diversified across multiple industries and multiple risk tolerance levels. I think most people don't know what their risk tolerance is and panic when they're down half a percent on the day. If you're not doing your own research and finding out what you want and what you're comfortable with,l or what the fees are for how much you're investing, you're asking for trouble. Quote HistoryQuoted:
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So why is that not reflected in their portfolio's beta measurements? did you ever ask them that? You aren't the only one to have told me that. I was talking to a guy the other day saying the same thing as his investments burned down in Q4 Quoted:
If you the client has a long-term growth objective and a high risk tolerance and they have you in low-risk investments, they're kinda fucking you over. I'd want my portfolio to match my risk tolerance and objectives without having to do my own research. It’s like voting yourself #1 |
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Posted: 2/27/2019 6:52:34 AM EDT
[#23]
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My EJ advisor turned out to be a liar. She ignored her fiduciary duty to benefit herself, so I terminated the account. I won't say that one individual's actions represent an entire company, but I will say that it's the only bad experience I have ever had with any investment representative at any company. -Hobbit |
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Posted: 2/27/2019 6:52:41 AM EDT
[#24]
... $1,100 as an investment?
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Posted: 2/27/2019 6:52:55 AM EDT
[#25]
I've got two 529's with EJ. They're appreciating fine. No issues with my local guy.
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Posted: 2/27/2019 6:55:38 AM EDT
[#26]
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... $1,100 as an investment? |
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Posted: 2/27/2019 6:57:48 AM EDT
[#27]
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... $1,100 as an investment? In 2016 it was work 100K. And that was just in one article, which I did not touch. |
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Posted: 2/27/2019 7:08:49 AM EDT
[#28]
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I invested 1K in 1973. In 2016 it was work 100K. And that was just in one article, which I did not touch. Quote HistoryQuoted:
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... $1,100 as an investment? In 2016 it was work 100K. And that was just in one article, which I did not touch. With only $1,100 today it is easy for much of it to be eaten in fees. Most folks that would consider $1,100 investment worthy probably have credit card debt that needs to be eliminated first. Just my opinion. |
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Posted: 2/27/2019 7:11:16 AM EDT
[#29]
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$1,000 in 1973 would be $5,405.56 today, which is a sum that makes a little more sense to invest. With only $1,100 today it is easy for much of it to be eaten in fees. Most folks that would consider $1,100 investment worthy probably have credit card debt that needs to be eliminated first. Just my opinion. Quote HistoryQuoted:
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... $1,100 as an investment? In 2016 it was work 100K. And that was just in one article, which I did not touch. With only $1,100 today it is easy for much of it to be eaten in fees. Most folks that would consider $1,100 investment worthy probably have credit card debt that needs to be eliminated first. Just my opinion. Every little bit in, gets you money out. Beats blowing it on a new Iphone. |
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Posted: 2/27/2019 7:19:43 AM EDT
[#30]
Weslthfromt.com. First 10k invested free and then hugely discounted. Asset allocation based in risk tolerance done by a Nobel laureate economist.
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Posted: 2/27/2019 7:24:39 AM EDT
[#31]
I've been with TRP for almost 20 years and have been very happy with returns and CS, I have Fidelity and John Hancock too and they're avg.
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Posted: 2/27/2019 7:44:21 AM EDT
[#32]
Quote HistoryQuoted: My point is they are making up the whole “conservative” talking point It’s like voting yourself #1 |
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Posted: 2/27/2019 8:13:55 AM EDT
[#33]
It appears to me that EJ is a crooked organization and I predict it will be the next financial institution to fall and/or come under federal investigation for probable mass fraud.
I'd never give them a penny of my money. Vanguard FTMFW. 
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Posted: 2/27/2019 8:18:19 AM EDT
[#34]
I am retired. Have been for about 5 years now. I have an EJ account. When I first met my advisor he told me he would not
make me rich. He said that he does not react to the market on knee jerk reactions. I have been taking out 4% a year for the past 4 years. So far I have a little more money than when I started. Yes there are ups and downs on the account but I use my account strictly as my monthly fixed amount income. No small or big items are bought with my account such as boats, hookers and blow etc. I do have a little more than $1100 in my account .
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Posted: 2/27/2019 10:05:42 AM EDT
[#35]
Quote HistoryQuoted: Big Investment Lie is a load of horse crap. The gist of it is that Advisors can't beat an index. nicholascageyoudontsay.jpg |
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Posted: 2/27/2019 10:10:49 AM EDT
[#36]
VANGUARD.
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Posted: 2/27/2019 10:33:17 AM EDT
[#37]
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I looked back, but didn't see, do you have an account with them? Or had an account in the past? Quote HistoryQuoted:
Quoted: My point is they are making up the whole “conservative” talking point It’s like voting yourself #1 |
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Posted: 2/27/2019 10:40:21 AM EDT
[#38]
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I am retired. Have been for about 5 years now. I have an EJ account. When I first met my advisor he told me he would not make me rich. He said that he does not react to the market on knee jerk reactions. I have been taking out 4% a year for the past 4 years. So far I have a little more money than when I started. Yes there are ups and downs on the account but I use my account strictly as my monthly fixed amount income. No small or big items are bought with my account such as boats, hookers and blow etc. I do have a little more than $1100 in my account .Why on earth are you still paying him?
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Posted: 2/27/2019 10:49:26 AM EDT
[#39]
The funds are designed to make them money first, you second.
Second thing to remember is that almost all of these funds/firms may rehypothecate "your" assets and if you read the fine print, you agreed to it. The most glaring examples in recent memory is PFG Best and MF Global. Bail-ins, not bail-outs, will be in this nation's future. |
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Posted: 2/27/2019 10:53:39 AM EDT
[#40]
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The funds are designed to make them money first, you second. Second thing to remember is that almost all of these funds/firms may rehypothecate "your" assets and if you read the fine print, you agreed to it. The most glaring examples in recent memory is PFG Best and MF Global. Bail-ins, not bail-outs, will be in this nation's future. To touch on your subject...guess how the assets are held in the advisory accounts these days over there? Yep...they hold them...and they allow the sub advisers to manage them and charge a fee. I need to dig up the account agreements but allegedly they are doing what Fidelity and the likes do with lending out securities. |
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Posted: 2/27/2019 11:29:08 AM EDT
[#41]
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Weslthfromt.com. First 10k invested free and then hugely discounted. Asset allocation based in risk tolerance done by a Nobel laureate economist. Almost every modern investment strategy uses something developed by a Nobel winner... Because you don't win a Nobel for niche ideas. I'm not saying wealthfront is bad, but let's not oversell what they are doing. A person can build an excel spreadsheet that does the same thing they do in about half an hour. |
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Posted: 2/27/2019 11:39:23 AM EDT
[#42]
Quote HistoryQuoted: That is true, until you get into the Indie/RIA world Then it changes. You normally have a guys doing client relations/sales, guys doing the asset allocations strategies and then the guys doing the planning. I'm in the indie space. Short of a few firms that have their own RIAs, the majority are still sales people. I would still pick a 3rd party to manage my money because that's what they do. Having one CFA on staff isn't going to compete with a huge money manager firm with lots of strategy people. |
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Posted: 2/27/2019 11:54:15 AM EDT
[#43]
Quote HistoryQuoted: As long as you like what he is doing....they are just expensive for what they are. |
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Posted: 2/27/2019 11:57:34 AM EDT
[#44]
Stick your shit in a Vanguard mutal fund or two and call it good.
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Posted: 2/27/2019 12:06:38 PM EDT
[#45]
Of course I'm a salesman, I didn't gather $87mm in assets based on my good looks.
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Posted: 2/27/2019 3:45:30 PM EDT
[#46]
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Those poor financial advisors need houses and cars and boats and vacations and...they need you to pay for them. |
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Posted: 2/27/2019 5:59:58 PM EDT
[#47]
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@midcap I'm in the indie space. Short of a few firms that have their own RIAs, the majority are still sales people. I would still pick a 3rd party to manage my money because that's what they do. Having one CFA on staff isn't going to compete with a huge money manager firm with lots of strategy people. |
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Posted: 2/27/2019 6:00:42 PM EDT
[#48]
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Yep. Between annual account fees, high commissions, and brokers that were caught peddling crappy funds because it benefited their bottom line, I don't understand why anyone would use EJ. Quote HistoryQuoted:
Quoted: As long as you like what he is doing....they are just expensive for what they are. |
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Posted: 2/27/2019 7:29:56 PM EDT
[#49]
I had a smaller account with EJ for several years because I liked the guy at our local office. He steered me into some American Funds that did pretty well. Then I got a letter saying that they were closing that office and they handed my account to a different guy. I didn’t even get a choice. He knew I was about to retire and was absolutely salivating over my 401k. This guy drove me nuts. Everything had 1 to 2% up front fees. I asked him, why would I want to do that? I rolled it into a Vangaurd 2020 target fund and just moved the American Funds from EJ over too. It’s so nice that I’m no longer getting all those phone calls, letters, and emails.
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Posted: 2/28/2019 12:24:14 AM EDT
[#50]
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This x100000 lol Quote HistoryQuoted:
Quoted: Big Investment Lie is a load of horse crap. The gist of it is that Advisors can't beat an index. nicholascageyoudontsay.jpg |
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