I didn’t bother discussing the situation with the M-L advisor because I knew all I would get was a pack of lies. A lot of fund managers don’t even outperform the S&P 500, but they’ll still get paid. Edward Jones Money Market Fund Investment Shares: Edward Jones Money Market Fund Retirement Shares: Additional fees apply for withdrawals, transfers, and other account-management activities. The surprising thing is that the adviser wants to lower the fees, saying it is too much. Advisory Solutions Fund Models Accounts have an additional $10 minimum monthly fee. You can avoid this conflict of interest by hiring a fee-only advisor. Check out: Who Is The Typical Financial Samurai Reader, Oh, there’s a typo in the article, you wrote: My portfolio overall is up approx 8% this year compared to my 401k being down approx 8% (which I use the target date fund – go figure ;) ). Edward Jones investments reviews are critical as well, given the high rate of return needed to offset the rising cost of college. When the smoke cleared and asset distribution was complete I rolled my share to a financial adviser of my choosing, who then set me up with a Schwab account. *Take from firm ADV filings (see appendix). There is a reason HNW individuals bank with JP and GS. Financial advisors usually deduct their fees automatically from your account balance or your initial investment deposit. For those researching an Edward Jones review on retirement services, you’ll find the common offerings. We talk about options trading all day long and things like theta and vega. Any thoughts on this strategy? nerdwallet.com/blog/investing/personal-financial-advisor-robo-advisor/, nerdwallet.com/blog/investing/typical-mutual-fund-expense-ratios/, investorjunkie.com/59919/sofi-wealth-management-review/, nerdwallet.com/best/investing/robo-advisors, parkworth.com/blogs/2018/12/18/why-tax-loss-harvesting-should-be-at-the-top-of-your-year-end-checklist, nerdwallet.com/blog/investing/10-questions-ask-financial-advisor/, investopedia.com/financial-advisor-vs-financial-planner.asp, moneycrashers.com/types-financial-advisors-need-hire/, dummies.com/how-financial-advisors-get-paid/, fool.com/retirement/2017/07/18/are-financial-advisors-worth-it.aspx, investopedia.com/articles/personal-finance/071415/how-cut-financial-advisor-expenses.asp, morganstanley.com/wealth-investmentsolutions/pdfs/adv/mssb_gis_adv.pdf, investopedia.com/career-advice-financial-planner-vs-wealth-manager.asp, smartasset.com/financial-advisor/wealth-manager-vs-financial-advisor, kitces.com/blog/independent-financial-advisor-fees-comparison-typical-aum-wealth-management-fee/, morganstanley.com/wealth-relationshipwithms/pdfs/account_and_service_fees.pdf?v=1, smartasset.com/retirement/the-top-10-robo-advisors, schwab.com/schwab_pricing_guide_for_advisor_services.html, morganstanley.com/what-we-do/wealth-management/access-investing/goals, morganstanley.com/wealth-relationshipwithms/commissionsandfees, edwardjones.com/images/brokerage-schedule-of-fees.pdf, edwardjones.com/images/UIT-compensation-schedule-fee-disclosure.pdf, edwardjones.com/images/brokerage-investment-advisory-services.pdf, nerdwallet.com/blog/investing/how-much-does-a-financial-advisor-cost/, Most of them do not have a fixed minimum amount that you need to deposit to start. 4) IMO 401ks are a ripoff created by the banks for the banks. Other reasons include: These are soft values that can be realized with the much lower cost alternative of managing your own investments with the passive strategy of low-expense ratio mutual funds.