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

Summary 

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: 

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 

Cons of Edward Jones 

Pros of Facet 

Cons of Facet 

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.