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Edward Jones?
I am looking into different investment options, and I am leaning toward an advisor recommended by Dave Ramsey. He is 2 hours away, but like I said, he is recommended. There are 3 Edward Jones offices in my town, which makes me VERY skeptical about using them just becuase they are local. Has anyone heard anything about Edward Jones, either good or bad? I'm leaning towards the out of town advisor just because I'm afraid to put my money with someone who can open an office with little or no training (I looked into working for them a few years ago).
Opinions, facts?
Thanks
I know they are a national company, but like I said, there are literally 3 of them in my town, and it is a small town. I'm looking into things like mutual funds which need to be purchased through an advisor. I really need someone to sit down with my husband and I and go over our finances and put us on a plan. If I DIY, we'll never get anywhere and when we retire, supper will be Alpo.
I'm not saying that Edward Jones isn't good because they're local, I'm just afraid that they are poor quality because there are just so many of them. I haven't made any decisions yet, I am still in the research phase of this. BTW, the advisor 2 hours away isn't Merrill Lynch, it's another large firm.
5 Answers
- Common SenseLv 71 decade agoFavorite Answer
Edward Jones is one of the largest brokers in the country, They have a very good reputation & are geared to the small investor. They will design an "asset allocation" plan for you & help you meet your goals.
The largest advisor sold Mutual Fund company in the USA is the American Funds. They are also considered by most, as the best funds of the commision sold funds (loaded). Edward Jones is the largest seller of American funds in the USA.
I personally think most people shouldn't pay a fee for investing in Mutual Funds. But if you are not inclined to read a few books..... then Edward Jones is probably the best place to go.
Source(s): To start: "Mutual Funds For Dummies", an easy read!!! - 1 decade ago
My wife and I use Edward Jones & have been very happy!! They are trained professional Financial Advisors and do much better than I could with my money by reading a book. They only work with the individual investor and gear their whole business around that concept. They are all over the country because they are extremely successful. They almost have 10,000 branches in the US, Canada and UK. Check out JD Power rankings of Full-Service Investment Firms.
Source(s): http://www.jdpower.com/finance/ratings/full-servic... http://www.jdpower.com/corporate/news/releases/pre... - 1 decade ago
i wouldnt even spend $$ on a money manager/financial advisor if I were you. All they do is try and sway your money into the funds that they get the biggest commission on. Listen to audio books about investing and they will tell you the same thing.....Learn how to invest in the right funds without the use of an advisor. You can do it, really. I recommend "The Greatest Investment Book I've Ever Heard", I forget the name of the author. Hope this advice helps you save thousands.
- sarahLv 51 decade ago
Ugh, please ignore the first poster (spamming it).
Edward Jones isn't local, they're national as far as I know... I mean, I've seen them everywhere I've gone--in rural areas, in downtown areas, etc.
I don't know anything about them personally but I'd bet on the advisor recommended by dave ramsey, except that he may be really busy. The two hours might be worth it; do you really plan on going every day? If not--then it's probably not a problem. You should feel safe and secure about where you're investing, money is a sensitive subject. Good luck!
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- 1 decade ago
You call always research the financial advisors to see what their background is from FINRA. The Edward Jones philosphy has always been a local presnence in the community. If you walk into the Merrill Lynch office 2 hrs away and they better investors because they aren't local?