Edward Jones

[UpstateNYUPSer(Ret)]

I went to see an Edward Jones financial advisor this morning. His office is on my delivery route and he has been asking me to come in for a consultation for some time now. We spent the morning discussing my goals for retirement and what we need to do in the next 7 years to get there and to ensure that I have the funds to enjoy my retirement. I mentioned Dave Ramsey and he told me that he was also a disciple. I have some paperwork to complete and have another meeting Thursday morning. I think that I have a pretty good handle on my finances but will be curious to see if a professional shares my opinion.

I started this thread to see if anyone here has dealt with Edward Jones and, if so, what was your opinion of that interaction. Would you recommend Edward Jones to a friend or co-worker?

BTW, I told him of my strategy of increasing the number of withholdings on my W-4 whenever I increase the % that I contribute to my 401k and he told me that it makes a lot of sense.

 

[klein]

I guess they found another sucker !

 

[UpstateNYUPSer(Ret)]

I guess they found another sucker !

It's funny that you mentioned that---I told him about this forum and that one of the members here was seriously considering buying Kodak. He laughed for at least 5 minutes.

Klein, do me a favor--don't respond to my posts. Dave.

 

[klein]

Kodak up a penny since , equals 5.88%.
Not bad interest for a day or 2.

 

[texan]

Never heard of Edward Jones, but multiple opinions is good.

"Without counsel purposes are disappointed: but in the multitude of counsellers they are established."

Proverbs 15:22

 

[av8torntn]

I use Edward Jones for my Roth IRA and although they are expensive they do a pretty good job. Their fees do seem pretty high and if I were younger and could go back I'd probably shop around a little more.

 

[UpstateNYUPSer(Ret)]

I use Edward Jones for my Roth IRA and although they are expensive they do a pretty good job. Their fees do seem pretty high and if I were younger and could go back I'd probably shop around a little more.

The first meeting and the meeting on Thursday are both free. He also told me that any trades executed through my 401k are free. It's funny you mention the Roth IRA as he mentioned that several times and I am sure he will again on Thursday.

 

[bbsam]

My mother in law uses them personally and for college accounts for the kids. I would trust her financial wits wth my life. She is very good.

 

[av8torntn]

The first meeting and the meeting on Thursday are both free. He also told me that any trades executed through my 401k are free. It's funny you mention the Roth IRA as he mentioned that several times and I am sure he will again on Thursday.

Just for a heads up I'm guessing you probably already know this and am also guessing it will be the same where you are. They charge a 40$ fee per year for retirement accounts and the load for the mutual funds is something like 5.25%(a guess off the top of my head as I don't feel like looking at a statement). My advisor has done an admirable job during the downturn managing which funds I bought into. They do advise you on how to allocate your 401k and even though the choices are limited it is somewhat helpful. It is also true, at least with my advisor, that they are very available for questions and they like to meet with you at least once a year and you get a call or two a year.



Edit to add I've never been charged for a meeting or phone call if that is what you read into my original post. There are additional learning opportunities available at no charge through them. The research on their website you will have available is not the best nor the worst that I've seen. Also they tend to recommend higher quality, long term type investments which suits retirement type planning in my view.