Hello and welcome to another review at Gold retired. Today’s review is about Edward Jones. What is Edward Jones? What are the products and services it offers? What are the IRAs offered, and how much are the IRA fees? How does it rank compared to our #1 Recommended companies? Without further ado, let’s begin!
Who is it for? People who would like to invest in an IRA.
Overall rating: (2 / 5) NOT RECOMMENDED
Important to mention before we go into more details of this review:
We strongly recommend doing your research online before choosing a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees,” so please investigate thoroughly before deciding.
==> See all of the gold investment companies we have given the highest ratings visit this page <==
With that being said, let´s continue with the review on Edward Jones!
When it comes to investing your hard-earned money, you can never be too safe. Even if the company you’re thinking about seems huge and a lot of people are working with it, it’s always highly recommended to investigate it thoroughly before making your decision. Those same people can be completely unsatisfied with the customer service, products, and overall experience. Getting all the necessary information about a company can be a bit of a hassle, luckily, we at Gold Retired save you that effort and helps you choose the company that suits you the best through a series of reviews about different companies!
The company we’ll be discussing today is huge, but is it worth considering? Let’s find out!
So, What is Edward Jones?
Based in St. Louis, Missouri, and founded in 1921, Edward Jones is a financial consulting firm that offers financial services, including IRAs. This company has over $7 Billion in revenue and over 45,000 employees as of 2017.
This company has been penalized for Municipal bonds overcharging as explained in the following excerpt taken from Wikipedia:
On August 13, 2015, the Securities and Exchange Commission required Edward Jones to pay a $20 million fine because, according to the SEC: “Edward Jones undermined the integrity of the bond underwriting process by overcharging retail customers by at least $4.6 million and by misleading municipal issuers.”
Here’s a screenshot of the Physical address of Edward Jones:
What are the products and services offered?
Edward Jones allows you to hold the following assets in your IRA:
- certificates of deposit (CDs)
- mutual funds
Edward Jones offers Traditional and Roth IRAs.
**Want to see what IRA solution I would recommend? Click here
Here’s a screenshot of Edward Jones’ IRA fees:
Click here to check out their full fee schedule ( opens in new window )
==> Want to take a look at our #1 recommended IRA solution instead?
Does Edward Jones allow you to invest in precious metals?
Edward Jones doesn’t include precious metals in the list of products you can invest in, they even discourage people from investing in precious metals. Check out the following excerpt from their website:
We recommend long-term investors avoid gold and other
precious metals and limit broad-based natural-resource
investments to no more than 5% of their portfolios.
I honestly don’t see the reason behind this. Investing in precious metals offers multiple benefits, and I highly recommend it.
Click here to find out how to get the most out of investing in gold!
Edward Jones serves clients in the USA and Canada.
What about online ratings and reviews?
Here is what the top review websites have to say about Edward Jones:
NOT Accredited by the BBB.
Customer reviews: (1 / 5) + 20 complaints closed in last 12 months.
Edward Jones failed to respond to 2 complaints filed against it! Here’s an example of the horrible complaints they have:
Click here to come to the BBB website where these complaints can be found (opens in new window)
Rating: Edward Jones is a multi-location business. The reviews on Yelp vary depending on the location. Some of its locations have a 5-star rating, but others have a 1-star rating. Overall, the reviews on Yelp are not that much.
Based on these reviews, I would definitely avoid working with Edward Jones. They have horrible complaints and a bad rating on the BBB website, but they also failed to respond to some of these complaints! Most of the people who worked with them are completely unsatisfied with them, especially their customer service. A financial advisor with bad customer service is surely something to stay away from.
Learn about the #1 rated company by most 3rd part consumer protection agencies in the industry on this page
Do you Own or Represent Edward Jones?
If you are a representative or associate of Edward Jones and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final Words and Verdict
Overall rating: (2 / 5)
I think this sums everything about Edward Jones. This company is huge, it has a decent website that easy to navigate and that includes useful information, but the complaints and bad reviews it has are just too many!
There are definitely better alternatives out there for you to consider.
What IRA company do we recommend?
You made a wise decision to read this review, and you are an intelligent person. I am sure that you will find the right company that suits your needs the best. I would advise you to compare different alternatives against each other before you decide. Below you got my absolute #1 recommended IRA custodian:
Click here for my #1 recommended IRA solution!
That’s all for this review! I hope you now know everything about Edward Jones and why you should look in other directions. If you have any questions, remarks, or personal experience with this company, please share it in the comments. I’ll be more than happy to answer.
See you next time!
Owner of: Gold retired.
- Transparent Fee Schedule on website
- Wide Selection of Investment Alternatives
- NOT Accredited by the BBB
- Many Negative Reviews Online
- No Precious Metals IRAs
- No Cryptocurrency Alternatives
Eric Battersby says
My Mother in law passed away in 7/2021, her IRA was split between my husband and his brother and sister. The Edward Jones rep was asked to release my husbands share to him and he didn’t want to set up an account. But Christian in Marietta gave him vague answers and responses he just told him all of the tax and penalties that he would incur. My husband started the process in 8/2021. He signed the release and requested his funds in 9/2021. I told him that office was going to keep his money til the end of the year because his annual commission is based off the amount he has at the end of the year. Low and Behold after calling Christian and send text and emails the transfer in his office occurred 12/31/21. Wow the account has $187000. He charged fees for the month of December 2021, which was a weekend and a holiday, and he supposedly didn’t have the funds until 12/31/21. On Monday 1/3 he invested the accounts after he had been told that my Husband wanted the account released to him. He charged fees for the month of January 2022 and my Husband asked him how long before the account funds could be released to him. The manager Christian never answered his question or made attempts to release his funds. In January his investment lost $ 7,000. In February we asked him what else would be needed to release the funds he hem hawed but gave no clear answer. We requested in writing in February that no more trades be completed, he made trades and lost another $7000 and the account was charged $ 389 in service consulting fees. So the 2 months the account which had been asked to be released in August 2021 was received in December 21 through February 2022 lost $ 13.000.00. We were finally able to stop the bleeding when we had the bank president write a letter requesting the release of the IRA so we could place in a CD. Now would Christian have ever released the funds without her letter requesting the release. I think so in maybe a month or 3. which at the rate of loss would have lowered the funds down from $ 187.000 at the rate he was going losing $ 7000 per month would have been $ 35.000.00. I don’t know what others think but my Mother in Law didn’t save all those years to lose $ 7,000 a month which with the 3 accounts is $ 21,000.00 per month. I know people say you leave it in there because it is for long term. B S the only person making money was Christian Salhuana with Edward Jones in Marietta GA. He was rude not helpful and immediately locked the online access to the account before he released the funds. I tried to get the tax statement from the account and it was locked.
I would pull any funds from Edward Jones as quick as possible and like this site says read the reviews and search and learn what your consulting Traditional IRA with Edward Jones will cost compared to what you will lose entrusting Christian Salhauna and Edward Jones/
Don’t let them persuade you to invest with them because I think you will lose.
Thank you so much for sharing your story and experience with us here, it will help others to think twice and hopefully also encourage people to do their research and compare different alternatives before moving forward. It is very important to know exactly what fees will be associated.
100% transparency is what you want from a company.
Thank you again for sharing your story with us.