Question: Is Edward Jones Expensive?

Edward Jones is a full-service brokerage firm.

The service can work well for large investors ($10 million and up) due to the combination of competitive advisory fees and professional investment management.

Most individuals will pay heavily in annual fees, compared with other, cheaper options.

What are the fees at Edward Jones?

Fees and Commissions

Traditional and Roth IRAs at Edward Jones have a $40 annual account fee. However, clients with total assets above $250,000 are exempt. Commissions in the IRAs can vary, depending on the securities purchased. Stocks and ETF trades result in a commission of about 2%.

How long does it take to get money from Edward Jones?

Our general policy is to allow you to disburse or withdraw funds deposited to your account between four and six business days from the date of deposit. If you are a new Edward Jones client (client for less than 30 days), funds may be held until the 11th business day.

What is the average investment management fee?

The average fee for a professional financial advisor’s services is 1.02% of assets under management annually for an account of one million dollars (the industry average fee is 0.99% and decreases depending on the size of your account).

How do Edward Jones financial advisors get paid?

Financial advisors at Edward Jones are primarily compensated on a straight commission basis. They get paid by selling customers financial products that generate commission revenue to the firm and themselves. Most financial advisors in the broker-dealer industry are paid on a roughly similar model.

Does Edward Jones charge fees for CDs?

Unlike with traditional bank CDs, brokers sometimes charge a commission for buying and selling CDs. These fees often come out of your interest payments and can cut into your earnings. If you open a new CD account directly through Edward Jones, you will not pay any commission fees.

How much should I expect to pay a financial advisor?

It varies, but most fee-only financial planners will charge between $1,000 and $2,000 for a comprehensive financial plan. For ongoing advice, you could expect to pay a monthly retainer of a couple hundred dollars. That’s for financial planners. But not all financial advisors are created equal.

Is Investing with Edward Jones a good idea?

Edward Jones is a full-service brokerage firm. The service can work well for large investors ($10 million and up) due to the combination of competitive advisory fees and professional investment management. Most individuals will pay heavily in annual fees, compared with other, cheaper options.

Does Edward Jones charge to close account?

Having to pay 4 separate account closing fees is unfortunate, but it is what agreed to when you opened the accounts, even if you don’t remember reading that part. Getting away from Edward Jones is worth a lot more than $400. Just consider it a cost of your financial education and move on to better things.

Can you borrow from your Edward Jones account?

Essentially, instead of borrowing from a bank, you are borrowing from Edward Jones, using the wealth you have created. The Personal Line of Credit is available only on certain types of accounts, but with an eligible account, you may be able to borrow up to 50% of the value of your margin- eligible securities.