Edward Jones enjoys an excellent reputation among its clients. It wins award after award for great service, and managed to expand beyond its humble origins in Des Peres, MO to build thousands of branches across the nation that offer individually tailored solutions for people that want to have a personal relationship with someone as they invest. The comfort that many investors feel with their Edward Jones advisor, however, is unwarranted.
As is often the case, the devil lurks in the details. Or as Edward Jones likes to call it, their “preferred product partners”, which we will get to in a minute.
If you hand over your money to Edward Jones, you will often read documents that mention you will be paying between 1.0% and 1.5% annually in expense fees, depending on the size of your account. If you have a million-dollar estate, you would expect Edward Jones to receive $10,000 … Read the rest of this article!