Today we review Edward Jones Investments for you. What is Edward Jones Investments? Will it be beneficial for you and your investment goals? Should you look at other alternatives? This is just a few questions we help you answer!
Name of the Company: Edward Jones Investments
Official Website URL: https://www.edwardjones.com/index.html
Owner: Edward D. Jones &Co., L.P.
Overall rating: (3 / 5)
Recommended? : Yes (But you should seek the opinion of several financial advisors before investing your funds)
Edward Jones Investments is a renowned firm, and it is highly likely that you may have heard about it or even done some business with it. It is also possible that you have a rough idea or no idea about what it all about. In this article, we shall dig deeper to find out what this firm is doing in the market. In order to remain objective, we shall be answering the following questions:
- What is Edward Jones Investments?
- How does it work?
- What are the products and services that are offered by Edward Jones?
- Is Edward Jones Investments a legit company?
- Are there any investment opportunities that one can take up with this company?
- Which are the most unique advantages and disadvantages that those who work with Edward Jones Investments site?
- Are there better alternatives out there?
What is Edward Jones Investment?
Edward Jones Investment, or simply Edward Jones as many people call it, is a financial services company that is based in St Louis Missouri, USA. This firm currently serves clients from Canada and the USA, through its very many branches distributed all over the two geographical regions. Edward Jones has managed to establish business ties with an estimated 7 million clients who have entrusted them with an estimated $1 trillion in the form of assets.
This company has since being founded been under the leadership of six managing partners, with the current one, Penny Pennington being the first and only woman to head a major brokerage firm in the USA.
Edward Jones was formed in 1922 and has since then grown to a multinational firm with an employee count of more than 13,000 financial advisors. Most investors coming to this firm can either have their funds channeled into Roth IRAs or Traditional IRAs. These funds are then invested in a variety of financial instruments such as stocks, Unit Trust Investments, ETFs and mutual funds, as well as bonds.
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How does it work?
Edward Jones has a unique business model in which the various financial advisors are distributed in all of its branches. If one wants to access a financial service, he or she has to access a local financial advisor who is working under Edward Jones. In most cases, the process followed by most investors is as below:
1. Visit a local financial advisor in any Edward Jones branch and open a Roth IRA or a traditional IRA account.
2. Transfer your funds to your newly created account or begin setting aside money for that account on a periodic basis.
3. Select the financial instrument that you want the money in your IRA to be put into for it to create returns for you.
4. Get the advice of the financial advisor on a regular basis, as he or she seeks to help you grow your wealth.
Clients can also access other wealth management solutions, based on their specific preferences. These services include:
-Estate Planning &Trust Services.
-Client Consultation Group.
Products and services offered by Edward Jones Investments
Edward Jones has a number of offerings to its clients. All of them are priced differently, based on the value that they offer to the investors. Since the financial advisors offer advisory service to its investors as well as providing solutions, they essentially get to earn through a commission-based model. Some of the main products that are offered by Edward Jones are priced as below:
1. Account services –Clients get charged anywhere between $0.10 to $500, depending on the size of their investment portfolio.
2. Cash Management Solution-Clients get charged $3 per month.
3. Business Cash Management Solutions-Clients get charged $35 per year.
4. Additional services-Clients get charged anywhere between $3 to $ 100+, depending on the type of service being offered.
Are the services and products it offers genuine?
Edward Jones exists as a genuine brokerage firm that has a number of genuine offerings to its clients. The firm, which is a subsidiary of The Jones Financial Companies, L.L.L.P, has been in operation since 1922. Its survival for that period of time only tells volumes about its genuineness. Also, the firm has assets worth more than $1 trillion from more than 7 million investors who are being guided by more than 13,000 financial advisors. Gaining the trust of such a high number of investors is not a walk in the park. In fact, Edward Jones is one of the largest brokerage firms in the United States of America, and it would have already warranted a shutdown by the government if it was not a genuine company.
There are reviews about this company on consumer trust sites. A major thing that one can note is that this firm has faced a controversial past in which it has had to part with hefty fines. There are also customers who have raised concerns about not being served appropriately in various sites.
The reviews about this firm are available on Indeed (https://www.indeed.com/cmp/Edward-Jones/reviews), FitSmallBusiness.com (https://fitsmallbusiness.com/edward-jones-reviews-pricing/), Investor Junkie (https://investorjunkie.com/29127/edward-jones-review/), The Balance (https://www.thebalance.com/who-is-edward-jones-2466520), and many more. One thing to also note about this firm is that it is very suitable for investors who are okay with relying on a long-term buy and hold investment strategy.
Edward Jones has its doors open to various types of investors who in one way or another are out to amass wealth through channeling their funds into IRAs and having that money invested in several financial instruments. Edward Jones has a pool of financial advisors whose main duty is to help you manage your investments through the provision of advisory services to you.
Pros and Cons
It is always wise (and recommended) to compare the positive sides against the negative ones before you make any decisions. As always in our reviews we provide you with some clear points on both sides of the spectrum:
-Has very many branches distributed all over the USA and Canada.
-It is trustworthy
-Professional Advisory services are provided.
-Provides you with a passive form of income.
-Has low fees charged on the high balance accounts.
-Expensive for people with low account balances.
-Not an excellent platform for active traders.
-Has some major negative reviews on online consumer trust sites.
Do You Own or Represent Edward Jones Investments?
If you are a representative, or associate of Edward Jones Investments 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: (3 / 5)
Ok, I think that sums up the overall view of this company pretty good. I believe it is a legit one, however, I also think the service could be better delivered, in the form of refundable and also maybe a bit less costly… However, if you are very into any of the areas covered in the different subscriptions you might want to check them out.
As always the decision is up to you to make,
please do not invest more money than you can afford to lose in this kind of information though, especially when there are no refunds.
What I would recommend?
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right service that suits your particular needs the best.
There are many similar services out there, some actually offer you A LOT of info for free, so you do not need to pay to get some real and legit advice. The absolute best one I can recommend in that case is Capitalist Exploits. Their free service is actually better than many others out there that you have to pay for.
I hope you found this short review of Edward Jones Investments to be helpful and that you now have a better understanding of what it is and if it is something for you. Please, if you have used any of their services then share your experience in the comment section below as it can help others. Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com