The ML thread got me wondering. I had a 401 that I put in an IRA with someone I cant remember lol, but after the advice of some guys at work I rolled it to Edward Jones. When I was with the old company the IRA made a lot but it was also a time when the market had been on the rebound from 2008. Now that I've been with EJ it doesnt make to much but it sure seems I pay a lot in fees. Granted the market hasnt done much since I switched over but I dont necessarily think things have been managed right. I figure someone that manages money for a living could have seen the virus hot coming and moved to an all cash position or atleast asked if I wanted to. Anyhow, I figured I would ask yalls opinion on Edward jones?

I have an Edward Jones acct. That has done pretty good. My Wells Fargo acct. Was doing real well until the covid hit. Most of it was my fault because I insisted on keeping my energy stocks when my agent was telling me to sell them..

I have a low opinion of all these market houses, especially if they have brick and mortar (have to pay for these “expert” services and brick and mortar leases with silly fees)

Very difficult to beat opening an online vanguard account and investing in no load low fee ETFs or ndex funds and invest automatically at regular intervals (impossible to time the market). With the caveat of buy more when low and sell some high to keep your investments balanced

These “experts” just want to collect fees

Keep it simple

One very simple portfolio would be:
60% VTI (Vanguard total stock market etf)
40% BND (Vanguard total bond etf)

Invest regularly, say $200 a month or whatever you can budget

Buy more during a panic (March 2020)
Sell and rebalance when high (January 2020)

Last year, my Ed Jones guys brought be a 25% ROI and a 17% over the last 5 yrs. I talk to him about once a year, to re-up my info. Just sold my house, so hoping to drop another large sum into that and let it take off.

Unless their business model has changed since my BIL was a Jones broker, they charge commissions on trades and put their clients in high-load funds that also pay the broker. You would be better off in low cost index mutual funds or ETFs from Vanguard, Fidelity. T. Rowe Price, Schwab, etc. that diversify your investments among domestic and international equities, bonds and real estate.

Edward Jones...small town rural area stuff usually. They still encourage their reps to market door-to-door. Literally. On foot.

Let that settle it.

And yes, they should have seen it coming.

Who do you work for Floon?

Our last trade out was Feb 25, for the record.

When I left out of AIG the morning after the 08 implosion (literally the morning after), we started our own firm. Best professional decision I have ever made.

Any time you have it with a broker, the fees will make a difference over time. Scott Burn's couch potato portfolio is a good one for someone who wants less volatility and little involvement with minimum fees. I believe it is basically 60% equities and 40% bonds. Google it if interested. Burns gives good advice.

Fees do make a difference. That's why you search for Alpha. It tells you what a manager is worth net of fees.

I've got a few things I might add to this thread tomorrow once I'm sitting at my computer.

It has been proven that the vast majority of active managers fail to outperform their benchmark indices over long time periods. The average Joe is far better off in low cost index funds than trying to find the unicorn manager that will produce alpha. There are a few exceptions to this, such as emerging markets and niche market segments.

Actually let me clarify that a little...it gives you the value against any benchmark you want to choose. You can then see if some particular fee is justified or not.

There is so much more to financial planning than investment picking.