Edward Jones vs. Facet: what's the difference?

1 min readLast updated May 31, 2024by Unbiased team

Facet appeals to tech-savvy clients with its digital-first approach and transparent fees, while Edward Jones attracts those valuing personal relationships and accessibility.


  • Fortune named Edward Jones one of the "100 Best Companies to Work For" in 2024. 

  • The firm has over $1.6 trillion in client assets under its care. 

  • Facet is a fintech company established in 2016, making it relatively new to the financial services business. 

  • Facets’s fees are not based on assets under management; instead, they charge a flat rate and no commission. 

Facet vs. Edward Jones: what's the difference? 

Facet and Edward Jones are financial service firms operating in the wealth management and financial planning industry. Facet, a modern fintech company, focuses on holistic, transparent, fee-only financial planning aided by cutting-edge technology. It emphasizes personalized customer service and caters to clients seeking innovative solutions to their overall financial well-being. 

In contrast, Edward Jones is a well-established firm. Edward Jones’ financial advisors adopt a traditional approach and operate from a vast network of local branches. The firm is known for its face-to-face interactions and comprehensive financial guidance. 

What are Edward Jones and Facet's specific investment strategies? 

Edward Jones and Facet adopt distinct investment strategies reflective of their respective philosophies.  

Edward Jones advisors follow a traditional, relationship-centric investment advisory strategy. The firm relies on the expertise of its experienced financial advisors to craft personalized investment plans. Through face-to-face consultations and a deep understanding of clients' needs, the firm offers active management and strategic asset allocation to maximize returns while mitigating risks.  

On the other hand, Facet financial services takes a data-driven, algorithmically supported investment approach. It uses advanced technology to analyze financial market trends and tailor portfolios to individual goals. Focusing on low-cost, diversified index funds, Facet’s financial planning focuses on forging long-term partnerships with its fiduciaries, who help investors grow wealth and manage risks. 

What fees can I expect from Edward Jones and Facet? 

Edward Jones and Facet employ distinct fee structures in accordance with their service models.  

Edward Jones’ fees are based on three financial advisory account types with different service levels, fees, and commissions attached to them. They are as follows: 

  • Select Account (hands-on investing with guidance): Commissions and sales charges with investment transactions ranging from 0.75% to 5.75%, plus possible third-party expenses. 

  • Guided Solutions (working with an Edward Jones financial advisor): Annual program fee of 1.35%. Lower tiers and reduced rates for higher asset levels. 

  • Advisory Solutions (an Edward Jones financial advisor invests and manages on your behalf): Annual Portfolio Fee of 1.35% and an additional Annual Portfolio Strategy Fee of 0.09% or 0.19%.

Facet fees differ because they charge a flat rate and avoid commissions as they believe it promotes advisor objectivity. The flat membership fee ranges from $2,000 to $6,000, depending on the complexity of your financial situation. This flat fee covers most of the costs involved in investing. However, it does not cover third-party fees. 

Regardless of the advisory firm's fee structure, investors should always anticipate additional charges such as account maintenance fees, inactivity fees, and potential commissions from third parties. 

Is Edward Jones or Facet better? 

Deciding if Edward Jones or Facet is better is subjective; it depends on your preferences, financial goals, and the type of service you desire. Both firms offer valuable services but differ in their approaches and strengths. Their pros and cons are outlined below: 

Pros of Edward Jones 

  • Edward Jones financial advisors operate from an extensive branch network, providing convenient access to in-person support and consultations. 

  • They offer personalized guidance and support, building long-term relationships with clients. 

  • Edward Jones has decades of experience and a reputation for reliability and trustworthiness. 

Cons of Edward Jones 

  • Edward Jones fees are higher when compared to Facet, impacting overall investment returns. 

  • Edward Jones' traditional approach may not resonate with clients seeking innovative technology-driven solutions from newer fintech firms like Facet. 

Pros of Facet 

  • Facet's simplified and transparent fee structure offers clarity to its clients. 

  • Their innovative technology delivers personalized financial planning solutions. 

  • Facet financial advising offers customized services by using a hybrid model combining technology and fiduciary guidance. 

Cons of Facet 

  • Facet is online-only, meaning no face-to-face consultations. 

  • The company is relatively new in the financial services industry and has yet to earn a long-standing track record, as Edward Jones has. 

Edward Jones of Facet: which should I choose? 

The choice between Edward Jones and Facet depends on individual circumstances. Those who prioritize personalized service and local support might opt for Edward Jones financial advisors, and those who value innovative technology and transparent fees might find Facet a better fit. 

However, as well as fees, investment strategy, and various pros and cons, here are some questions you should ask yourself when choosing between Edward Jones and Facet: 

How do Edward Jones and Facet remain competitive and adapt to changing market conditions? 

Edward Jones stays competitive through its extensive branch network and personalized service. At the same time, Facet leverages innovative technology and transparency in its fee structures. Both firms continuously adapt to market shifts by embracing new technologies and evolving client needs. 

Which platform provides better customer service and support? 

Facet’s customer service is more accessible with its personalized approach and responsiveness aided by technology. On the other hand, Edward Jones provides extensive support through its branch network but may lack the same level of digital convenience and accessibility of Facet. 

Can I access my Edward Jones or Facet accounts through their websites and mobile apps? 

Edward Jones and Facet offer online access to accounts through their respective websites and mobile apps. With these tools, clients can manage their investments, track performance, and communicate with these advisors using these platforms. 

Get expert financial advice 

Facet and Edward Jones are prominent financial services firms in the US. While both offer wealth management solutions, Facet’s financial services offer more transparent fees and tech-driven innovation, appealing to clients seeking digital-first approaches. In contrast, Edward Jones advisors emphasize personalized service and a vast branch network, catering to those who value in-person interactions. Each firm has pros and cons, underscoring the importance of considering individual preferences and financial goals.  

Find a professional SEC-regulated financial advisor via Unbiased for comprehensive financial advice to ensure you make the best decisions for your financial goals and circumstances. 


Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.