If you sell product you are a salesman. No more an advisor than i am a surgeon.

Advisor adds value if you pay them for time and advice, anything else and they take value.

??? Most advisors dont beat the market. And then factor in risk adjusted metrics and its seldom worth it.

A guy I know from church is an accountant just got on with Edward Jones. He doesn’t even like money as a hobby or do his own investments. It was just the best paying job he could find. He was trying to get me to sign up with him and I thought at least I like doing my own investing why would I pass it onto you.

Who ever said they beat the market?

Everyone’s a salesman

RIAs sell services

What you think I’m compensated to do?

I'm an Edward Jones Financial Advisor.

I don't lie to my clients, or prospective clients. I actually really enjoy helping people set goals, holding them accountable to their goals, and seeing them achieve their goals.

People are unreasonable sometimes.

Oh well.

I have a small ($2kish) SimpleIRA through EJ. I'd like to move it but I'm not sure where. The "personal rate of return" is 3.68% but since the account is so small, the return is mainly eaten up by the annual fee. I wish I could just put the funds in my vanguard roth since it's doing well at 7.8% . Although IIRC, it isn't a qualified transfer so I would take the tax hit.

Any ideas?

Why not transfer it to your own new IRA at Vanguard. Easy peazy. Even a cave man could do it.

I've been putting off talking to VG but I believe there are some fucky rules that the "SimpleIRA" doesn't play well with traditional IRAs.

My company's SIMPLE is with them. so I can't exactly do anything like move shit away from EJ.  But I do feel the financial advisor doesn't keep on top of it. He meets with us at the office about once a year...and I think even that has been lacking. I don't think he even showed up last year. But when he does part of the spiel usually goes. "Well  I put you into energy last year then the price of oil dropped so we took a little hit...." And I'm just sitting there thinking 'yeah that happened like 6 months ago shouldn't you of you know maybe moved us out of that sector'

Don't take my word for it, but I believe it will just be a separate account and they just won't comingle. Shouldn't be a problem.

At your investment level, it's going to be extremely important to minimize fees. Vanguard charges $25 a year, (I think). Probably goes away if you have enough in the account.

Maybe look at Schwab, TD Ameritrade, or somebody else? Shop around. Find the lowest fees with the least restrictive investment options. Great in house mutual funds are a good perk, but you can always get etfs that accomplish pretty much the same thing off the market. Vanguard has great funds, but most have etf analogs that you can buy anywhere. The only advantage to getting vanguard etfs from vanguard is that they won't charge you the trade fee.

Once you have your account, figure out your allocation before you start trading. You want to minimize the number of trades, because each one will cost you money (some accounts may give you a few free ones). Use broad etfs if the in house mutual funds aren't great. Mutual funds are nice because they allow fractional shares, and that's useful if you don't have a lot of money. But, etfs are good enough unless being perfectly allocated is super important to you.

I discovered Vanguard and, eventually bogleheads.org in the 80s after Janus shit the bed. Glad I did.

People who don't have a few hours to study basic investing and retirement investing typically pay a penalty of 100s of K dollars over a retirement savings lifetime.

80% of active managers DONT beat index funds over the long term. And the other 20% are not the same managers from year to year so you have to predict which manager/stocks/sectors are going to outperform next year. Add their fees to that and you get in the $100K+ less range over a retirement savings career.

You can start an account (IRA, Roth, or taxable investments) online at Vanguard with $1K and set it up to feed electronically from your bank account when you have the funds or on a regular schedule. Just buy index funds and get market return with minuscule fees.

I looked into EJ here once or twice and decided against it. Glad I did!

Hate so say it, but most SIMPLEs are very small accounts (mom and pop shops), and half the employees take a distribution when they get enough to buy a 65" tv anyways.

Have you ever tried calling your advisor and telling them you would like to be more involved?

General rule of thumb (not directed at you necessarily) - If you want to be taken seriously, invest like you're serious.

I lost a shitload more than that with Paine Webber. When they got bought by UBS I didn't get a new broker and lost my shirt in the dot com bust.

Pain is their middle first name.

@CCLJ03

If they would bring more assets in you would get more Div Trips!!!



On a lighter note...two clowns just left EJ to go Indie with Raymone James.

It was a husband and wife, which the wife's dad was a rep for like 40 years.

He each gave them 100mil.

Basically easy street, winning 4 trips a year, knocking down each 300-400k a year with out working too hard...most of the assets were in managed accounts.

Pops was also on the legacy or what ever it's called plan and still has 2 years to go.

The husband thinks he's Saul Pannell and Chris Towle wrapped up into one.

He messed up a good thing for the both of them to feed his ego.

lol. They're TAP trips now... and you can only win 2 per year (Wife and I are headed to St. Moritz Switzerland in July). Get with the times midcap!

I don't even do SIMPLEs anymore... not worth the time or effort dealing with people who don't want an advisor anyways.

You're correct, a direct transfer to another IRA incurrs no current tax liability.

Not sure if serious gif.

If he wasn't careful he could have asked for a check directly... if he doesn't re-deposit that into an IRA within 60 days it's taxable.

The advisor would have done precisely what he asked for - no more and no less.

Sarcasm meter bro. Calibration your's needs.

https://www.thebalance.com/how-to-do-a-simple-ira-rollover-without-paying-taxes-2894476