Edward Jones vs. Morgan Stanley: which is right for you?
Feature | Edward Jones | Morgan Stanley |
|---|---|---|
Service type | Advisor-led brokerage, advisory and planning | Advisor-led financial advisory and wealth management |
Main clients | Retail investors, with separate planning for certain high-net-worth clients | Higher-asset investors seeking customized advice and eligible UHNW services |
Fees | Advisory program fee starts at 1.35% | Maximum advisory fee 2% |
Minimum account size | $0 minimum for the select account | Minimums vary by program and relationship |
Best for | Investors who want clearer program thresholds | Investors who want broader wealth management and customized planning |
Edward Jones vs. Morgan Stanley: Key services
Here are Edward Jones and Morgan Stanley’s key services.
Edward Jones:
- Brokerage/select account: Advisor guidance with client-directed buy and sell decisions. Investments can include stocks, bonds, CDs, mutual funds, ETFs, and annuities.
- Guided solutions: A client-directed advisory option with ongoing guidance and an asset-based fee.
- Advisory programs: Asset-based advisory options with ongoing monitoring; some programs allow Edward Jones or the advisor to manage day-to-day investment decisions.
- Financial planning plus: Planning across goals, cash and income, portfolio allocation, risk and protection, and estate and wealth transfer; eligibility applies.
Morgan Stanley:
- Personalized planning: Planning around retirement, college, tax efficiency, generational wealth, and philanthropy.
- Customized investment strategy: An investment strategy built around the client’s plan, goals, and risk needs.
- Cash management and lending: Cash management, deposit, and lending solutions that support broader wealth management needs.
- Alternative investments: Access for qualified investors to strategies such as private equity, private credit, real assets, and hedge funds.
- Specialized wealth solutions: Tax-smart investing, impact investing, thematic investment baskets, insured solutions, and specialized advice for complex situations.
Edward Jones vs. Morgan Stanley: Fees
Edward Jones fees:
Edward Jones account type | Fees |
|---|---|
Select account | Commission-based and sales charges generally range from 0.75% to 5.75% |
Edward Jones advisory solutions/guided solutions | Annual program fee begins at 1.35%, and annual platform fee begins at 0.05% |
Unified Managed Account (UMA) models schedule of fees
Value of assets in account | Program fee | Platform fee |
|---|---|---|
First $250,000 | 1.35% | 0.05% |
Next $250,000 | 1.30% | 0.05% |
Next $500,000 | 1.20% | 0.04% |
Next $1,500,000 | 1.00% | 0.03% |
Next $2,500,000 | 0.80% | 0.02% |
Next $5,000,000 | 0.60% | 0.01% |
Over $10,000,000 | 0.50% | 0.00% |
- SMA manager fees: Range from 0.00% to 0.40%, depending on the SMA strategy.
- Generations financial planning: A separate higher-net-worth planning service with first-year fees typically from $5,000 to $45,000, potentially up to $100,000 for complex cases, plus up to $25,000 for business-interest planning.
Morgan Stanley:
Morgan Stanley fees vary by relationship, account type, advisory program, and investment product.
- Brokerage clients may pay commissions, sales loads, markups, markdowns, or other transaction-based fees.
- The maximum annual Morgan Stanley annual asset-based advisory fee is 2.0%
- The platform Fee is a 0.035% annual asset-based fee
- Clients may also pay fund expenses, account/service fees, manager fees, lending costs, and investment-specific costs.
- Financial planning can cost $250 to $5,000 per client, or up to $10,000 for a plan exceeding $5 million, when the advisor holds certain professional designations.
Edward Jones vs. Morgan Stanley: Minimum account sizes
Edward Jones gives clearer minimums for the reviewed brokerage, advisory, and planning services, while Morgan Stanley uses program-based minimums that vary by account type and relationship.
Edward Jones’s account-level requirements:
Edward Jones service | Minimum account size |
|---|---|
Select account | $0 minimum investment |
Select account annuities | May require at least $10,000 |
Guided solutions fund | $5,000 |
Guided solutions flex | $25,000- $50,000 |
Advisory solutions fund models | $25,000 minimum |
Advisory solutions UMA models | $300,000 minimum; $500,000 and $1 million for additional options |
Morgan Stanley:
No single standard minimum.
Morgan Stanley service | Minimum/threshold |
|---|---|
Managed account programs | $5,000 |
Financial planning | $250 or up to $10,000 for plans over $5 million when the advisor has certain professional designations |
Edward Jones vs Morgan Stanley: Pros and cons
Below is the breakdown of the pros and cons of both Edward Jones and Morgan Stanley.
Pros of Edward Jones:
- Clearer brokerage, planning, and advisory account paths
- No-minimum Select Account brokerage option
- Broad planning support for eligible clients
- More visible fee and minimum disclosures
Cons of Edward Jones:
- Layered costs across brokerage, advisory, planning, fund, and account fees
- Higher threshold for ongoing financial planning
- Multiple account types require careful comparison
- Primarily advisor-led rather than digital-first
Pros of Morgan Stanley:
- Broader wealth management services, including planning, investing, cash management, and lending
- Customized investment strategy through a financial advisor relationship
- Access to alternative investments and specialized wealth solutions for eligible clients
- More visible digital tools
Cons of Morgan Stanley:
- More fee layers across advisory, manager, platform, account, and investment-specific costs
- Some minimums and fees depend on the selected program or relationship
- Certain services and investment options depend on client eligibility
Edward Jones vs Morgan Stanley: Technology and security
Both Edward Jones and Morgan Stanley are advisor-led and offer online/mobile access. Here is a look at how they compare in terms of technology and services.
Category | Edward Jones | Morgan Stanley |
|---|---|---|
Reporting | Holdings, performance, activity, statements, and goals | Account information, paperless documents, alerts, and advisory-account reporting |
Client communication | Advisor/team contact, online support, contact forms, and branch locations | Advisor/service team, phone/mail/email, and global offices |
Asset custody | Advisory assets held through Edward Jones as a broker-dealer | Morgan Stanley Smith Barney may act as a qualified custodian for certain accounts |
Security disclosure | 24/7 monitoring, firewalls, encryption, MFA, access controls, and physical safeguards | Fraud detection, MFA, encryption, device registration, one-time security codes, and SIPC membership |
Final verdict: Edward Jones vs Morgan Stanley
Edward Jones offers brokerage, advisory, and planning services, with clear program boundaries, fee caps, and minimums.
Morgan Stanley offers broader advisor-led wealth management and more detailed digital and cybersecurity disclosures, while its total cost and minimums depend more on the selected program, account type, and client relationship.
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