Edward Jones investments: What are the pros and cons of Edward Jones?

Summary 

Edward Jones: Who are they? 

Established in 1922 in St Louis, Missouri and still headquartered there today, Edward Jones is not one person. Rather, Edward D. Jones & Co., L.P.  (Edward Jones for short) is an independent financial services firm with a branch network of more than 15,000 locations.  

A team of nearly 19,000 Edward Jones financial advisors services over seven million clients, and this Fortune 500 firm focuses on providing a wide range of expert financial advice, particularly in the insurance, retirement, and investment spheres. 

What does Edward Jones do? 

Edward Jones' services target private individuals rather than businesses or institutions.  

The firm’s financial advisors offer individualized advice on everything relating to investments, insurance, and personal financial planning.  

Edward Jones financial services are tailored to focus on individual relationships rather than shareholder returns. 

What are the pros and cons of Edward Jones? 

All financial services firms have their own unique strengths and weaknesses. Let’s take a look at some of the pros and cons of Edward Jones so that you can figure out if they’d be a good fit for your financial needs.  

The advantages of Edward Jones: 

The disadvantages of Edward Jones:  

One of the main selling points of Edward Jones financial services is its prioritization of forming strong client relationships. With skilled and diligent professionals available, these team members make sure that each client feels prioritized as an individual as well as a customer.  

Edward Jones: financial services 

Edward Jones financial advisors specialize in three main categories of financial planning, all of which cover a wide variety of different sub-categories. The three services are investments, personal financial planning, and insurance. Let’s break down what each of these categories means:  

1. Investments  

The investment component of Edward Jones financial services involves a long list of services pertaining to asset movement, portfolio diversification, and educational IRA, including:

2. Financial planning 

Most people could use a little support when it comes to planning and organizing their personal finances, and that is one of the most popular services that Edward Jones financial advisors provide. 

They can help with any of the following financial planning services:

3. Insurance  

Whether it be life, business, or real estate insurance, everyone benefits from having a safety net to fall back on. Edward Jones financial advisors offer the following range of insurance-related services:

Edward Jones: fees and commissions 

Edward Jones fees and commissions are tiered and depend on a variety of factors.  

These factors largely include the services obtained, the nature of the client’s circumstances, and the availability of the team members at the time. The fees do decrease when an account grows in value, but the 1.35% fee is still considered high when compared to other financial advisory firms. 

Edward Jones: technology 

Although the Edward Jones group is a traditional one with years of experience under its belt, team members have embraced technology, and the firm has invested $500 million into its digital strategy.  

Edward Jones financial advisors and clients have access to Financial Foundation, a proprietary tool that helps to plan and track financial journeys.   

Edward Jones security: is it secure? 

The information handled by team members at Edward Jones is well protected so that each client’s personal data remains as safe and secure as possible.   

However, the firm has faced issues in the past. In 2004, it paid a $75 million U.S. Securities and Exchange Commission regulatory settlement after not disclosing conflicts of interest over mutual funds. In 2018, they were also sued after complaints were received about brokers switching customer accounts simply to earn higher commissions. 

Seek expert financial advice 

Deciding which financial advisor to choose is a big decision. While Edward Jones is a large, well-established financial services company, it only specializes in three main areas and has higher-than-average fees. It’s also faced controversy in the past due to serious transgressions. These are serious considerations that could affect the choice you make.  

If you’re looking for expert financial advice, Unbiased can match you with an SEC-regulated financial advisor best suited to your needs. You can get the advice you need and learn more about managing your money and financial future.