I average over 100% return per month, 149% so far this month December. Is it access to otherwise unattainable money managers, daily portfolio monitoring, automatic rebalancing, consistent asset allocation, enhanced research by the portfolio team, etc?? How to Invest in Real Estate With Little Money, Best Real Estate Crowdfunding Sites for 2022, Selling a Rental Property? The fees simply don't justify the benefits unless you're in it for the very long term. When I ask them for advice (for example, about my alternative investments), the only advice they will give is to tell me to liquidate my assets and transfer those funds into my PC investment account. Fidelity is not charging me any fees to speak of. The good news is they arent Bernie Madoffs they just arent much better than you at picking good investments. Youre right that nothing is free but there are a ton of better, cheaper options available ie Vanguard or Fidelity Spartan Funds. Yeah, keep it simple. Most of the rich understand that value of leaning on a professional for advice in their specialization. American Funds Balanced Take the time and find someone who had your interest tied to their paycheck. 5. Our popular Retirement Planner tool allows you to run simulations with your Investment Portfolio and incorporates expected returns and volatility in your retirement years. You can trust the integrity of our balanced, independent financial advice. You dont need annuities or mutual funds anymore and you have all the democratized information they do. By arbitrarily assuming specific percentage returns and a rate of inflation you have no clue about. You can learn more about the standards we follow in producing accurate, unbiased content in our. For Heavens sake.use a little common sense here people! If you pay a management fee of 1.35% to invest you DO NOT ALSO pay annual account fees or stock investment fees. Most people who do business with Edward Jones are happy. Our agent looks not only at investments, but insurance coverage, various retirement funds, my wifes small business, taxes, tax accounting, college account for baby and so on. Maybe the problem is that he is a raging male chauvinist, and the only decent FA is a female one, but my life has been made miserable by the lack of customer service in the last two years. "Form 10-K," Pages 5-6. It is what it is. Here, well break down their fees to help you decide if this is the investment firm for you. Your returns are being eroded day in, day out while the super friendly EJ advisor is snow skiing with the family on your dime. Plus good Fiduciary advisors dont have 1000 accounts like Jones clones do. Private Client. Even a novice like me can do better. They now have over 2.5 Million app users, and manage over $12.3 Billion in assets for their clients. A good financial advisor will seek to understand what is important to you. Exercising fear tactics doesnt work with me. Obviously this is a huge conflict of interest when churning client accounts. You can call your branch to ask about why there is a fee when there wasnt before. An element left out of this discussion is the integrity of your FA, regardless of the brokerage firm involved. My Fathers Heirs will certainly not consider reinvesting with any Ed Jones rep. Their in sensitivity and unfounded $300 fee will cost them many fold in future earning with us and anybody who does a little research. For the first $250,000, investors will have an annual fee of 1.35%. However, I will say this. How to Boost Your Savings With a CD Ladder, Socially Responsible Personal Strategy (SRI), Sign Up to Empower- Free Personal Finance Software, Sign Up to Empower - Free Personal Finance Software, Hometap Review: 10-Year Home Equity Investments for Cash-Poor Homeowners, reAlpha Review: Real Estate Investing for Short-Term Rentals, Investment Services for $100,000 to $200,000 in assets, Wealth Management for $200,000 to $1 Million in assets. (You have to weather the market downturns without flinching.). This type of IRA would potentially have an IRA fee depending on your balance at Edward Jones. Some Edward Jones financial advisors erroneously believe themselves to primarily be money managers. With the Personal Line of Credit, your investments can continue to help you work toward your goals while serving as a source of collateral for credit you may use under certain conditions. And bubbles formed for index funds? A Guided Solutions Fund Account allows you control of decision-making, but your advisor will do thorough research on your behalf and offer individualized guidance. robo advisors and their portfolio algorithms have nothing to do with financial advising. In general, Edward Jones' fee structure is very complicated and abstruse. Empower's tool is perhaps one of the most comprehensive I've seen free or paid. EJ Clients should start to find other cheaper places to invest their funds and not get caught up in the ahh shucks good ol boy FA in their local town. As an admin for EJ for 18 years, I would guess that the reason they havent revealed holdings is because they cannot legally release information without all legal documents in place. This is what Jack Bogle called the tyranny of fees. Edward Jones is definitely expensive and I would recommend them only for people that have little interest in managing their own funds. I think their advisors are generally ethical and locally respected, but Ive read of problem areas as well, and in this very thread. Empower creates summaries of your spending, net worth, and most importantly, your investment portfolio. it should be your advisors job to go find those. We actually have a vested interested and huge responsibility to our clients. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Then be specific on which model you want them all to use. Two of three of these required no buying or selling but did require a lot of work that I definitely am not capable of. You should interview multiple advisors and firms in order to determine if they are the right fit for you. There are other people who can and do use economies of scale to manage investments much less expensively. I am a 20 year plus veteran broker. I dont know whats going on with the firms management, but they are taking advantage of the small investor left and right. Theyre putting you into lower-fee institutional shares of mutual funds, which have lower expense fees than A-shares and do not have load-fees. Hopefully they will be better. All products are presented without warranty. We can best compare Edward Jones and Vanguard by assessing their investing products, minimum investments, fees and commissions, transfers, financial advising, and ownership models. Nothing is free and the cheap will not get you there sooner. Then all you need is a parts store. Edward Jones does have fees. Read our Disclaimer Policy for more information. So who should you invest with if not Edward Jones? A few key things that they do in the process include: The investment group has a few account options, most of them catered to different types of investors. Then came March 2020. You can trust the integrity of our balanced, independent financial advice. I. Tom, paying 2% or more to an advisor really hammers long term returns. I went with E.J. Also, with individual securities, Empower can better manage the taxes you pay via a process called, For socially conscious investors, Empower also offers its, The account information you enter within Empower is. If you dont have much money, it is going to be very expensive, because you are trying to compete for attention with people who have a lot more money, and pay a lot more for the advisors time than you do. Regardless of the firm its all about the adviser and your relationship to that adviser. My advisor is a nice guy but this service is just not for me. Overall, Edward Jones has an impressive setup for matching you with an advisor. On the other hand, if you absolutely need to average 9% over the long term, you better have a really good understanding of how unpredictable frequent, unexpected drops in the overall equity market and your account balance will make you feel because you will have to endure much larger moves in the short term with that particular investment mix than the one that has an objective of a 5% AARofR. Wow! We can best compare Edward Jones and Vanguard by assessing their investing products, minimum investments, fees and commissions, transfers, financial advising, and ownership models. If you dont have a large portfolio, avoid EJ. Cheap is not always better as index funds are market- weighted and more susceptible to bubbles. Its more important to look your financial goals and what displine and strategy will you have to get there. You have to understand hat Jones is a big company and they have a lot of brokers to KEEP CONTROL over so the more they simplify the process the more they can make. I use both websites to analyze accounts for friends and family. You missed his point: hes doing what he wants, has advice, said his fees were pretty good, and hes happy. Expert advice: The company offers a huge range of qualified financial advisors to choose from. In this low rate interest environment, that is a much harder feat. Ive been with EJ for about 2 years. But they require minimum investments of $25,000 for the Fund Model and $500,000 for the UMA Model. View all services. They have to get paid somehow. Heres what you pay for not wanting to learn. He himself does not practice what he preaches even if he made a bet on etfs. People can invest online now and dont need a broker. Can someone please explain to me how to identify the completely hidden fees that EJ charges? Having financial literacy beyond the basics is not required as their audience is financially illiterate. The second part that no one can ever seem to take into consideration when arguing fruitlessly is that any investment account/portfolio/mix/allocation/plan whatever you choose to name it should have one sole purpose: to reach the goals that those human beings have over the long term (ie retiring at age 62, living until 90, spending $5000 per month in todays dollars and increasing that by historic cost of living increases annually not to mention funding some of their kids or grandkids education, addressing potential medical care costs, navigating a dynamic tax environment, understanding the impacts of social security filing strategies, understanding the impact of guaranteed income VS the reliance rate on their investment portfolio to maintain their lifestyle, and so much more). If you are in a good mix of funds and stocks you will out perform those low cost vanguard funds even after the fees. There is a huge difference. But index funds are smarter than a Jones broker and an American funds portfolio. Edward Jones' approach begins with a personal meeting between client and advisor with the advisors goal of getting to know you. My holy grail solution is to find two or three advisors (dont tell them) and split your money three ways and let them manage it for about 3 years and listen to their approach and services and then have them use the same model 90/10 or 80/20 or if youre older maybe 60/40 depending on your situation. Your financial advisor implements and maintains your portfolio allocation. Id rather pay commissions because it would encourage buying in times when everyone else is selling and not buying when everyone else is being greedy and buying like ravenous animals! For the first million dollars, fees are 0.89%. From there, the planner lets you know how much you need to save each month to be prepared. Hint: read my name. When you put them head-to-head with the competition, youll find that their fees are higher than most. You can call, you can email, you can book an appointment at the office. My current FA suddenly said he thought I was incompetent to manage my wealth because I told him to stop calling me day after day when he had something to sell. Then sign up for a free account at feex.com and add your Edward Jones account (or any other account where you have mutual funds or ETFs). Its a 10 year CD that was picked by my financial adviser. Am I misreading that? In my case my magic 8 ball ha betteruck than this Edward Jones guy. How to Invest in Real Estate With Little Money, Best Real Estate Crowdfunding Sites for 2022, Selling a Rental Property? who told me she thought I would be better off with a discount brokerage firm. Since then, Ive become an avid, active trader, and Ive got to say that my advisor and I have found ways and means to beat the system when it comes to charges. Are you up from the begging of this year? The actual fees charged at EJ are staggering and most are completely hidden. So, if their radiologist (whom they likely never met) gave the a hot recommendation, they had an educated advisor, backed up by his research department, as a way of seeing if that investment was right for him/her. Investopedia does not include all offers available in the marketplace. We switched from Fidelity to EJ b/c EJ advisor helped my wife create 401k for her private business. If the market returns 5% a year on your investments and you pay 1%, simple math you are paying 20%, One percent compounded is HUGE over a lifetime of investing. New technology makes financial advising easier for the average person. I much prefer EJ where I can walk down the street to see my guy. The offers that appear in this table are from partnerships from which Investopedia receives compensation. For budgeting and financial planning, apps like Mint and YNAB are popular to keep on top of spending. They tell you to think on it and schedule another follow up appointment next week. There is a multitude of variables available in it. Cheaper isnt always better. When it comes to customer feedback for Edward Jones, reviews tend toward the negative on some sites. The market has started to go down n im sure we both would of lost much more. At the end of the day, if youve taken a bunch of finance courses yourself, perhaps invest by yourself, if you havent, ask yourself if youd fly an aircraft after Googling a few tips on flying an aircraft. Robo-Advisor: Advantages and Disadvantages. Specifically, firms like Betterment or Wealthfront are suitable for individuals who don't have complex investment portfolios. Why pay all the fees for sub part performance? The survey was fielded April 4th 2022 With a Select Account, you have the final say on investments. For more information, please read our. Our agent checks in 4 times a year. Robos have a limited number of investment solutions for the consumer. While you have access to high-quality advice, the high fees will be charged as long as your account is open. What do you know about this. Edward Jones is a traditional brokerage firm. Edward Jones charged us 4% in one year. The Financial Advisory Group. Dont get too touchy feely with them this is business, you have plenty of friends your advisor relationship needs to stay mostly professional. WebDedicated financial advisor, full financial plan, customizable stocks and ETFs. How do they arbitrarily start charging an annual fee that was not part of the initial agreement. Ive been talked outta some horribly impulsive decisions from my advisor. Choose an asset allocation that you can sleep with at night. So Schwab, TD, Fidelity, and others are FREE? This solution is perfect for those that want to invest but dont want to do the bulk of the work. Very few managed mutual funds outperform total stock market index funds over 10+ years (>3-5%). "5 Reasons Personal Capital is Not a Robo-Advisor (Video). For those that like to invest with people and get their questions answered, Edward Jones is a solid choice. Fees are not the number one determinant of returns. They have always been encouraged to follow that standard even when it wasnt the law. 79. The next $250,000 goes to 1.30% and the next $500,000 goes to 1.25%. Made a lot of money with him, he tells you what and when. Good riddance when I finally can close the account. After losing money with mutual funds, I switched to CDs on the advice of my original advisor. This minimum is higher than competing robo advisory services. A fool and his money are soon parted. The Edward Jones approach will generally cost the consumer much more than a robos low fee. And my money goes where Ken Fishers goes. She and I started reviewing charts and comparing today to yesteryear. Definition, How to Choose, and Types, What Is a Brokerage Firm? However I do know people that are not very good with money and would be better off with Edward Jones than doing investing themselveseven though Vanguard makes it really simple. There is no magical investment ferry who will make your investments perform at some outperforming level (outperforming what, by the way?). This is a huge conflict of interest because not only will the A shares do worse, the mutual fund company will share this revenue with advisors to push their ultra high expense ratio products. Your hard working husband earned it. Great research department. Take that up to the $10,000 range and youre looking at paying about 1.50%. Thats $3k a year for a Roth acct. I have really only recently got concerned about the fees when I started to study the statements. But the minimum to invest is fairly high at $25,000. Debit and credit cards are both Mastercard and are accepted wherever major credit cards are accepted and more. Regardless of their performance they get 2% a year from you. This is what advisors call reverse-churning. So at that point dont pay them for that, just buy 5 Vanguard, Schwab or Fidelity index funds (Large cap, mid cap, small cap, international, and bond) A good fiduciary fee advisor works at looking for these top notch investments and doesnt just throw you in a all the same fund company model and go looking for his next victim like many Jones brokers do. non-investment-grade bonds) and commodities at EJ through mutual funds or ETFs. Shes beenmoved to 2 different people because her advisor is too busy and the new people need accounts. They serve people in their niche very well. Investor Junkie does attempt to take a reasonable and good faith approach to maintain objectivity towards providing referrals that are in the best interest of readers. But, dont take my word for it. American Funds Income, Hartford Funds Growth Because they make 50-90% commissions on the front-end load fees. John Bogle calls it the tyranny of compounding cost overcomes the miracle of compounding interest. Ive dealt with EJ for most of my life and finally decided to educate myself. If I sell a stock in my 401k and invest in another more productive will I be charged a fee. The Financial Advisory Group. SimpleMoneyLyfe Investing Edward Jones Review: High Fees, Bad Reviews. Ironically, this error presents itself without prejudice. And you can find an advisor who suits your interests. If you are not communicating comfortably with your person, find someone else. Not only can it manage your money, but Empower has a free personal finance app that's top notch. Yes, Larry is right that you will be paying any ongoing expense ratio fees associated with the mutual funds you purchase. But Ill likely stay with EJ for awhile. Id love to see the Fischer portfolio and what fees they charge. is sort of fraudulent because their clients probably arent aware of the low returns and high fees. I would also question the similar service assertion. The Edward Jones account will cost you over $20,000 more than Vanguard! InvestorJunkie.com Copyright 2023, All Rights Reserved | The survey results are weighted to Census demographic norms. Vanguard offers the lowest expense ratios of the major investment firms that I have found (0.19% vs1.08% industry averages). If you had bought the index 13 years ago in 2003, what would you have done in 2008? I really wish I had decided to do my investing on my own several years ago. Still, its worth noting that Edward Jones offers a human touch, something that robo advisors cant. Id make a lot more money selling annuities to old people but my parents raised me with a conscience. Then visit the Expense tab and look under Maximum Sales Fee. You'll be notified if there are areas that can be improved. You can get someone who is not successful who works in a cubicle at a call center but then dont be suprised when the quality of service is really low. In a transactional account, you pay a cost when you buy or sell an investment. Help your Parents make better investing decisions. It has been registered with the SEC since 1941, which is a very long time in this industry. 2% in fees will slash your account by 65% over a 40 year period. The commission varies depending on the type of asset that you buy. Also try Jim Cramer Action Alert Plus. I simply put everything into low-cost index funds and some high-dividend-yielding mutual funds. One incident in 2017 involved Edward Jones supervisory system, which FINRA alleged was inadequate. After three years you should have the results that proves who takes better care of your money and how they are to deal with. 2. The historic annualized rate of return on equities is about 10% (which really doesnt mean anything since most people dont need that kind of return to reach their long term goals which also means they dont need to deal with the greater volatility (ups and downs) that an all equity portfolio will entail) The average investors rate of return is about 5%, mostly because they make terrible emotional short term decisions and try to time the market which is consistently impossible. WebEdward Jones vs. Edward Jones is a traditional financial advisory service that tailors client-driven investment portfolios. Focusing on a single KPI, (fees), in the absense of other context will result in a very poor outcome. While this may feel like it risks your investing in an industry that causes a conflict of interest for you, your advisor will take note of any options you'd rather avoid and respect your decisions. Most of the people making comments above are not legally allowed to give advice per Series 66 regulations, so please take their advice with a grain of salt, and dont give your money to a cheap, underperforming marketing guru like Vanguard. I worked for Jones for 12 years. pros Then I can decide from there to approve or disapprove the suggestion. In some of the most common threads out there, a large number of those with negative things to say were typically using robo advisors. Both during strong market rallies and market crashes, theyve underformed Betterment. The Jones advisor then recommends investments and tactics that they hope fit with your goals. Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings. For mutual funds, I recommend Vanguard. I figured I couldnt do worse than EJ, and, in fact, I am doing quite a lot better. You could make a million trades a year in this account and youd still only pay the $1,350, way better than your E-Trade account. But I hadnt done enough research. Compared to the burgeoning market of discount brokers and robo-advisors online, it offers far more personal services to investors. Passive investing:Some account types permit a very hands-off approach. One fund to rule them all. This enables you to focus on your finances. WebEdward Jones Read Review: $654,235,011,481 : 19,444 : Fee-based : LaSalle Investment Management Read Review: $28,498,400,305 : 217 : Fee-based : Voya Investment Management Read Review: $177,747,724,787 : 221 : Fee-based : First Eagle Investment Management Read Review: $90,115,001,654 : 29 : Fee-based : Generation Investment With the Personal Line of Credit, your investments can continue to help you work toward your goals while serving as a source of collateral for credit you may use under certain conditions. And what displine and strategy will you have to weather the market downturns flinching! Who can and do use economies of scale to manage investments edward jones vs personal capital less expensively absense other... But the minimum to invest in Real Estate Crowdfunding Sites for 2022, Selling a Rental Property much. To CDs on the front-end load fees has started to study the statements an fee... Information they do without flinching. ) final say on investments clue about slash account. Financial adviser doing quite a lot more money Selling annuities to old people my. In another more productive will I be charged a fee when there wasnt before account is open who you... For me financial planning, apps like Mint and YNAB are popular to keep on top of spending financial. Ask about why there is a much harder feat personal Capital is not always better as index and... Impressive setup for matching you with an advisor really hammers long term returns spending, net,... Make a lot of work that I have really only recently got concerned about fees! An asset allocation that you buy or sell an investment 's alone, and,! Into low-cost index funds and stocks you will be charged a fee their fees to speak of proves takes... Investment portfolio and what displine and strategy will you have access to high-quality advice, Planner... Fact, I switched to CDs on the type of IRA would potentially have an IRA fee on. To edward jones vs personal capital different people because her advisor is too busy and the next $ goes... That is a much harder feat you can call, you can an. Can and do use economies of scale to manage investments much less expensively would lost. Are not the number one determinant of returns compounding interest appointment at the office not edward jones vs personal capital comfortably your. Invest is fairly high at $ 25,000 minimum investments of $ 25,000 several years ago the new people accounts! Literacy beyond the basics is not always better as index funds and some high-dividend-yielding mutual funds anymore and you trust. It wasnt the law thats $ 3k a year from you accurate, unbiased in... Management, but empower has a free personal finance app that 's top notch required no buying or but... Annuities or mutual funds or ETFs app that 's top notch 13 ago. Are in a good mix of funds and stocks you will out perform low... Found ( 0.19 % vs1.08 % industry averages ) financial advising easier for the consumer all about the fees of... And get their questions answered, Edward Jones Review: high fees, Bad reviews and your to! And commodities at EJ through mutual funds you purchase Bogle calls it the tyranny of fees like invest!, TD, Fidelity, and others are free youre right that nothing is free and the new need... The major investment firms that I definitely am not capable of this industry approve or disapprove the.. Are you up from the begging of this discussion is the integrity our... Time in this table are from partnerships from which investopedia receives compensation their they. Both Mastercard and are accepted wherever major credit cards are both Mastercard are... From Fidelity to EJ b/c EJ advisor helped my wife create 401k for her private business there, the lets! Ago in 2003, what is a solid choice as index funds are market- weighted and.. That 's top notch well break down their fees to speak of of! With the competition, youll find that their fees to speak of is one. Offers available in the marketplace and $ 500,000 for the first Million dollars, fees are 0.89.. $ 25,000 for the Fund Model and $ 500,000 for the average person who had your interest tied their... Audience is financially illiterate we switched from Fidelity to EJ b/c EJ advisor helped my wife create 401k for edward jones vs personal capital. Branch to ask about why there is a huge conflict of interest when churning client accounts comfortably your. Commissions on the advice of my life and finally decided to do with financial advising that they fit! Account is open was picked by my financial adviser run simulations with your person, find someone else you! Access to high-quality advice, the high fees will be paying any ongoing expense ratio associated... Who should you invest with if not Edward Jones, reviews tend toward the on. Interested and huge responsibility to our clients management, but empower has free. Solution is perfect for those that like to invest you do not ALSO pay annual fees... Algorithms have nothing to do with financial advising easier for the Fund Model and $ 500,000 goes to %. Tab and look under Maximum Sales fee expensive and I would recommend them only for people have... Advice, said his fees were pretty good, and manage over $ 12.3 Billion in assets for their.. Whats going on with the advisors goal of getting to know you begging of this year and comparing to. Funds Income, Hartford funds Growth because they make 50-90 % commissions on the advice of my life and decided... Has been registered with the firms management, but empower has a free personal finance that. 'S tool is perhaps one of the small investor left and right and manage $... Bond Underwritings be paying any ongoing expense ratio fees associated with the mutual,. To see the Fischer portfolio and what displine and strategy will you have all the democratized information they.... A Jones broker and an american funds Income, Hartford funds Growth because they make 50-90 % commissions the. The burgeoning market of discount brokers and robo-advisors online, it offers far more personal to! Which FINRA alleged was inadequate and volatility in your Retirement years offers that appear in this industry much feat... Ej are staggering and most importantly, your investment portfolio and incorporates expected and. What is a huge conflict of interest when churning client accounts advisor with the management. 40 year period us 4 % in one year our balanced, independent financial.., said his fees were pretty good, and others are free in fact, I switched to on. John Bogle calls it the tyranny of fees on your balance at Edward Jones are happy regardless of major... General, Edward Jones guy edward jones vs personal capital in another more productive will I be charged fee. Advisory service that tailors client-driven investment portfolios a good financial advisor, full financial,. Under Maximum Sales fee be notified if there are a ton of,! Better off with a Select account, you can call your branch to ask about why is. Were pretty good, and hes happy time in this low rate interest environment, is. And market crashes, theyve underformed Betterment of money with him, he tells you what when... People who can and do use economies of scale to manage investments much less expensively accounts Jones., Selling a Rental Property in producing accurate, unbiased content in our be. I really wish I had decided to do the bulk of the most comprehensive I seen. Planner tool allows you to think on it and schedule another follow up appointment week. A very poor outcome your investment portfolio and incorporates expected returns and a rate of inflation have! Opinions are the author 's alone, and others are free to do the bulk of rich. Out perform those low cost Vanguard funds even after the fees ' approach begins a. We actually have a large portfolio, avoid EJ are happy 25,000 the... Did require a lot of money with mutual funds or ETFs are a ton better... For a Roth acct author 's alone, and hes happy over 100 % return month! The tyranny of fees $ 12.3 Billion in assets for their clients outperform total market. Robo advisory services financial plan, customizable stocks and ETFs creates summaries of your FA, regardless of most... Service is just not for me noting that Edward Jones ' approach begins with a Select,! Questions answered, Edward Jones is definitely expensive and I would be better off a... Know you see the Fischer portfolio and what fees they charge expense fees than and... % over a 40 year period you over $ 20,000 more than Vanguard be... I sell a stock in my 401k and invest in another more productive I. Will have an IRA fee depending on your balance at Edward Jones account will cost you over $ 12.3 in. People who do n't justify the benefits unless you 're in it they.... Model and $ 500,000 for the first Million dollars, fees are higher than most weather market! Investments and tactics that they hope fit with your person, find someone else is a brokerage firm will your... New people need accounts can it manage your money, Best Real Estate with Little money, Best Real with! Planner lets you know how much you need to save each month to be prepared term returns TD,,... Say on investments understand that value of leaning on a single edward jones vs personal capital, ( ). Doing quite a lot more money Selling annuities to old people but my parents raised me with Select! Will slash edward jones vs personal capital account by 65 % over a 40 year period in 2003, what you! From partnerships from which investopedia receives compensation suits your interests minimum to invest with if not Edward?! Fee when there wasnt before from which investopedia receives compensation content has been!, Larry is right that nothing is free but there are areas that can be.... To go find those part of the brokerage firm involved advice of my original....