LPL financial vs Edward Jones: what’s the difference?
This review compares LPL Financial and Edward Jones, highlighting key differences in advisor models, fees, services, and who each firm is best suited for.
LPL Financial vs. Edward Jones: Which financial advisor is right for you?
LPL Financial and Edward Jones are two of the most widely used financial advisory firms in the US, but they operate under very different models.
While LPL Financial empowers independent advisors with robust tech and investment tools, Edward Jones is known for its highly personalized, in-person service through a massive network of branch-based advisors.
| Category | LPL Financial | Edward Jones |
|---|---|---|
| Category | LPL Financial | Edward Jones |
| Business model | Independent advisor platform | In-house advisors at local branches |
| Assets under management (AUM) | $1 trillion | $1.8 trillion (client assets under care) |
| Advisor type | Independent business owners | In-branch, employee-based advisors |
| Fee range | 0.53%–1.35% (varies by advisor/account size) | 1.35%+ for most advisory services |
| Minimum account sizes | $1,000–$250,000+ (varies by program) | $0–$500,000+ (varies by account type) |
| Technology | Strong digital portal + advisor setup dependent | Basic online tools, $500M invested in upgrades |
| Best for | Those seeking a wide range of unbiased investment options | Those wanting long-term, in-person advisor ties |
LPL Financial vs. Edward Jones: Financial advisor services
LPL Financial financial advisor services:
LPL supports 29,000+ independent advisors who provide personalized financial guidance using LPL’s research, portfolio tools, and compliance infrastructure.
Popular Programs:
Optimum market portfolios (OMP): $1,000 minimum
Personal wealth portfolios: $250,000 minimum
General financial planning: No minimum
Edward Jones financial advisor services:
Edward Jones offers a range of in-house managed account solutions with increasing levels of advisor involvement and customization.
Key Offerings:
Select account (self-directed or commission-based): $0 minimum
Guided solutions (fund/flex): $5,000–$50,000 minimum
Advisory solutions (Fund/UMA models): $25,000–$1M+ minimum
LPL Financial vs. Edward Jones: Fees
Both LPL Financial and Edward Jones use tiered advisory fee structures that decrease as your account grows.
However, LPL Financial generally offers more competitive rates, especially for larger portfolios.
For smaller accounts under $100,000, both firms charge around 1.35%, but LPL’s fees drop to 0.53% for accounts over $5 million, while Edward Jones often adds platform fees on top of its advisory rate.
The table below compares typical fee ranges based on portfolio size:
| Account value | LPL total fee (advisor + program) | Edward Jones total fee (advisory + platform) |
|---|---|---|
| Account value | LPL total fee (advisor + program) | Edward Jones total fee (advisory + platform) |
| $10K–$99,999 | 1.35% | 1.35% + 0.05% |
| $100K–$249,999 | 1.20% | 1.30% + 0.05% |
| $250K–$499,999 | 1.15% | 1.20% + 0.04% |
| $500K–$999,999 | 1.08% | 1.00% + 0.03% |
| $1M–$5M | 0.98%–0.63% | 0.80%–0.02% |
| $5M+ | 0.53% | 0.50% + 0.00% |
LPL Financial vs. Edward Jones: Minimum account sizes
LPL Financial offers lower entry points, making it a strong choice for new or cost-conscious investors, with options starting at just $1,000 or even $0 for general planning.
Edward Jones, on the other hand, is geared more toward clients with larger portfolios, particularly for its advanced advisory models, which can require $300,000 or more.
| Program | Minimum investment | Financial advisor model |
|---|---|---|
| Program | Minimum investment | Financial advisor model |
| Edward Jones select account | $0 | In-house advisor, self-directed with optional advice |
| Edward Jones guided solutions | $5,000–$50,000 | In-house advisor, collaborative portfolio management |
| Edward Jones advisory solutions | $25,000–$1M+ | In-house advisor, fully managed and customized |
| LPL general planning | $0 | Independent advisor, flexible financial planning |
| LPL optimum market portfolios | $1,000 | Independent advisor, prebuilt managed portfolios |
| LPL personal wealth portfolios | $250,000 | Independent advisor, customized wealth strategies |
Note: Edward Jones fees can increase with portfolio strategy and fund expenses.
LPL Financial vs. Edward Jones: Pros and cons
Pros of LPL Financial:
Independent advice: Advisors aren’t tied to proprietary products, offering unbiased recommendations.
Flexible service model: Tailored to the advisor’s style and the client’s unique financial goals.
Strong digital tools: Robust platforms including mobile apps, secure portals, and performance tracking.
Low entry threshold: Portfolio options start at just $1,000, making them accessible to new investors.
Broad investment selection: Access to a wide range of assets supported by strong research capabilities.
Cons of LPL Financial:
Inconsistent pricing: Fees and service quality vary depending on the advisor’s setup.
Uneven client experience: No standardized service across locations due to the independent model.
No robo-advisory option: Doesn’t offer an in-house automated investment platform.
Advisor team size may vary: Some advisors may work independently without large team support.
Pros of Edward Jones:
Personalized local support: One-on-one service through in-person meetings at local branches.
Long-term focus: Advisors emphasize relationship-building and ongoing financial planning.
All-in-one planning: Retirement, insurance, and investment services offered under one roof.
Nationwide presence: Over 15,000 offices provide easy access and strong community ties.
Cons of Edward Jones:
Higher fees: Advisory and platform fees are above average, especially for smaller portfolios.
Basic digital tools: Online platform and mobile experience lag behind competitors.
Limited service scope: Primarily focused on individuals, less robust for businesses or complex portfolios.
U.S.-centric model: Services are built for US-based clients and are less ideal for international investors.
LPL Financial vs. Edward Jones: Technology and security
LPL Financial offers encrypted platforms, secure portals, and advisor-driven digital experiences. As a member of FINRA and SIPC, LPL provides regulatory oversight and insurance protection for client assets.
Edward Jones has invested $500 million into its digital infrastructure, launching tools like the Financial Foundation platform to help clients track and plan their finances. While useful, its tech offering still lags behind more modern platforms.
Final verdict: LPL Financial vs. Edward Jones
LPL Financial is ideal for investors seeking a flexible financial advisor relationship with low account minimums and no ties to proprietary products. It’s a strong choice if you want personalized, advisor-led planning supported by robust digital tools and don’t mind managing parts of your portfolio online.
Edward Jones is better suited for those who prefer a financial advisor offering long-term, in-person guidance. If you value comprehensive planning and want a dedicated advisor at a local branch, even with higher fees, Edward Jones may be the right fit.
Frequently asked questions
How does LPL Financial compare to other financial advisory companies?
We’ve compared LPL Financial with other financial advisor companies. Find out more here:
How does Edward Jones compare to other financial advisory companies?
We’ve compared Edward Jones with other financial advisor companies. Find out more here:
What are the top alternatives to LPL Financial?
Top alternatives to LPL include:
Edward Jones: For local, in-person advisor relationships
Raymond James: For full-service, advisor-led wealth management
Ameriprise Financial: Combines personalized financial planning with a wide range of investment options and insurance solutions.
Vanguard: For low-cost, index-based investing with optional advisor support. Read more about LPL Financial vs Vanguard Personal Advisor.
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