Hello, My workplace set us up with Edward Jones, it was my first investment experience. Since then I have kept everything with them since I don't know any different.
So to try and keep this shorter, I had a discussion with a person who says it's better to take on investing yourself because you save a lot of fees. In the past I think I paid 5.6% and a yearly 40 dollars to EJ, based on my conversations with the advisor. Recently he called me up and said "the rules are changing, now things are a flat fee percentage across all funds we could consider you for, so it makes more sense to diversify into the best of the best as we at EJ have researched, and the fee for getting into any one of those funds is ~1.5% of whatever you are putting in each time you invest." So, i have to sit here and wonder now, are all the horror stories from the past about how expensive EJ is to use a thing of the past? It seems like a 1.5% fee is not terrible, though I understand you can get into some Vanguard stuff or maybe .5 or even .3? Overall it seems like i am paying a lot less now to invest with them than I was.
I have new money to invest which is why I am thinking about all this now. Before I just hand it over to Mr. Jones, i want to know if it might be worthwhile to look into doing my own thing with this new money to see where it takes me? Is it worth it in the end for maybe that 1% difference?
My performance with jones has been about 5% on average. The person I spoke to about using vanguard said they got about 7%, and all the lower fees etc. It is enticing. But I am not sure if that 7% is so far this year or over the last year, or rolling average since they started it.
I guess mostly I'm looking for comments on Jones and if these new rules they are claiming make things better for me.
Thanks all for considering my "try to keep it short" text wall. :)
Submitted February 22, 2017 at 03:24PM by Tergi http://ift.tt/2lGJqHZ
