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Edward Jones is a scam. Their so called sales reps pray on the weak and uninformed.

Frist, I infiltrated one of their recruiting seminars at a local hotel. Quote from EJ District Lead – “only 2 out 10 EJ reps make it for a few years”. It’s a chop shop of financial disarray. The EJ reps that are in the top 15% go on a free trip to places like Australia, Cancun, Italy etc.

(you *** know who you are). And guess who is paying for their free trip – You the consumer! EJ reps pray on the elderly and ill-informed. They have very high commission rates, and they act like it’s the norm.

Also, think about who is paying for the office space and admin assistant (hmmmm they don’t come free). My last point is the education of the EJ advisors. They only are required to pass a series 7 licenses. Nothing more than a series 7 license.

Wow the clown at your local bar could be an EJ rep. You want your rep to have a CFP or CFA and a college degree. In addition, they should have 10 years of experience. Finally, only choose a fee only advisor.

They are the best route to take. I wish more people would understand that they make their jet setting lifestyles off you.

High loads, high fees and not the best or the brightest. Trust me; they are not worth your time.

Review about: Edward Jones Financial Advisor.

Reason of review: Not as described.

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Anonymous
#1429873

Wow. Lots of misinformation here.

EJ offers fee-only and many advisors are CFPs.

(CFAs are back office analysts) Fee-only has some advantages but is not as cost effective as A share over the long run. Not even close.

Anonymous
Bethany, Ontario, Canada #1352788

I would prefer to rely on facts from sources like JD Power and Fortune who consistently rate EJ as one of the best. The Edward Jones model results in lazy or incompetent advisors being identified much quicker than with other firms. Unfortunately, when they are fired, many troll sites like this with made up stories.

Anonymous
#1100616

I put i 87,000 dollars and in less than my 5 months lost over 8000 dollars. She said that this is normal and it will go back up again.

Now if I pull out my money I'll lose that 8000 dollars and pay couple thousand dollars for pulling out my money. I can't afford to lose any more money and don't no what to do.

Anonymous
#1098921

Put in 86,300 dollars and in 5 months lost over 10,000 dollars. They said that this is normal.

Anonymous
#1038243

Yep, Edward Jones is a pretty scary firm. I inherited a fortune from my dad, and promptly lost 20% in an up market with Edward Jones.

All of my Dad's hard-earned money, just evaporated! Neither my advisor nor the customer service reps have helped me account for the money. They've shrugged and told me to look at my statements. Even a wealth advisor who had been in business for 2 decades was not able to tell from their statements where the money had gone.

The customer service representative, when asked who his manager was, gave J. Weddle (founding partner) as his manager.

Anonymous
Harrisburg, Pennsylvania, United States #952753

Please tell me why I only pay 8 dollars on a stock trade for 40k and the *** bag at EJ gets 2.5 % for a $7,500. Plus, all of the lies that the work for this and that company.

If you worked for Goldman, why would you work for a company bases in MO. Not the best or brightest. I even had a friend that worked for them and state it's like a cult.

I hope the whole entire company gets shut down. *** CROOKS

Anonymous
to Anonymous #977602

A few things. You are trying to compare apples and oranges here.

$8 for a stock trade is an unassisted, non-commissioned based platform. Who do you ask questions to? How many times do you have to press 1 for English and then still get no assistance? I'm not justifying the end, but rather focusing on what you get.

Additionally, EJ has a long term approach for trades that are quality based. No penny stocks. Research isn't cheap. You want to argue about stock trade prices...why did you agree to do business with them in that realm?

They are open about the costs/commissions. Open an e-trade account and do it for $8 if you want a cheap trade.

Anonymous
#950508

The continually ill informed comments are laughable. I can understand people being upset if they went through 4 different advisors at a firm as people have mentioned in other posts, but this continued idea of exorbant fees and/or lack of education or experience is just plain ***.

The fact that you make the statement about "preying on the elderly or ill informed" is just pathetic. As for only having a series 7 to work at Edwars Jones, try again. As for the comments about fee based accounts, they have those just the same as other firms. As for the high fees and commissions, EDJ is one of the most cost effective full service brokerage firms in the industry.

EDJ has also be rated too 5 financial services groups for going on 15 years in a row, most years being ranked 1. So if you'd prefer to pay managed account fees and find a CFP, go to town. You can find that person at EDJ or most any other firm available.

Just leave out the *** ignorant comments that make you sound dumb. Just do your homework and make a desicion that feels right to you.

Anonymous
Harrisburg, Pennsylvania, United States #950495

Look, I'm not giving my major account to some college clown right out of school. If you have big money you want to be with the best!

CFA with all the bells and whistles of the major universities and 10+ years of experience. Amateur hour at Edward Jones!

Anonymous
to Anonymous #977606

No one says you have to use the youngest advisor they have. In fact, age has nothing to do with it.

MANY financial advisors start their career as a 2nd or 3rd career. That devilish handsome 50 year old may be 1 year in the business.

If you have big money...sure...find the best! You'll NEVER now the difference between the performance of one advisor over another. Why?

Because that information isn't even known or tracked. Just because you find someone with a designation doesn't mean they have your interests in mind. It just means they are a *** of a salesman! People pick advisors mostly on personal relationships or a recommendation from a friend.

And if you are referring to CFA (certified financial analyst)...you won't get one of those.

They are desk jockies sitting and doing analysis in the home office. You should correctly be referring to CFP (certified financial planner) or an AAMS (accredited asset management specialist).

Anonymous
to Anonymous #1464726

My FA at EJ has an MBA, AAMS and CFP with 10+ years experience. Not amateur hour at my EJ office :).

Anonymous
Atlanta, Georgia, United States #939219

There are a few things that are inaccurate in this post. 1) the trips are a portion of compensation offered to advisors who work hard, but they are not paid for by clients.

Nor is the office ps pace or the assistant. 2) the vast majority of advisors at any firm did something else before going into finance. 3) the professional designations such as CFP are as equally prevalent at EJ as any other firm, as are college degrees. 4) EJ offers many fee based options.

5) I have never met anyone of any profession that begins their career with 10 years of experience. If you are recommending that clients only used long experienced advisors, where will the experience come from?

I would suggest you attempt the series 7 and open your own practice. While you are at it, research the retention rate of advisors at any other firm.

Anonymous
to Anonymous #948017

This is a crock

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