I was inspired by a post here to break up with my financial advisor at Edward Jones and switch to Vanguard.
My financial advisor called me when I told him I wanted to switch to Vanguard, and he really tried to convince me that I was making a mistake.
He said that I can never out perform the market with Vanguard. Is that true?
I've read that most managed accounts try to beat the market but ultimately do not in the long term. He made it sound like I was going to be losing a lot of money by switching. But with the higher fees at Edward Jones, even if they outperform, won't it be a wash?
He said that I won't get the same guidance at Vanguard since they don't have personal financial advisors. But he was never extremely helpful and has made several mistakes (like in what year our IRA contributions fell into).
When I called Vanguard's phone number, I found their customer service incredibly helpful. Does anyone have any experience on Vanguard's financial advising?
He also mentioned that I will have to pay a $95 fee per account.
So did I make a mistake? What do you guys think?
Submitted July 01, 2020 at 05:40PM by smeves41 https://ift.tt/3dPZ9fo
