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No matter how simple or complex, you can ask it here. Leaving Edward Jones is there a better or worse time Post by riperobgyn » Wed Apr 29, am Just wanted peoples opinion. I have about K invested in many many different funds with Edward Jones. Of course my financial advisor is a good friend of mine, and over the years I have wrestled with the decision to leave and move everything to Vanguard. I already have an IRA and a taxable account with Vanguard. For the past several years any new investments have only been with Vanguard.
I know I am just throwing money away staying with Edward Jones and I must leave. Does it matter on timing of this switch. My friend has me invested in so many funds that more than likely Vanguard, before transferring, will need to just transfer in cash instead of each fund.
I heard this can take weeks. I just wanted to know should I, wait till the economy stabilizes, wait till investments return to pre-pandemic levels, or just do it asap. Would this a the ultimate rebalancing act. I would appreciate anyones advice. Thanks, James. Re: Leaving Edward Jones is there a better or worse time Post by unclescrooge » Wed Apr 29, am Why can't you transfer in kind?
Re: Leaving Edward Jones is there a better or worse time Post by Luckywon » Wed Apr 29, am I would do the following: Retirement accounts: Assets that can be transferred in kind: Transfer ASAP Assets that cannot be transferred in kind: Liquidate and transfer ASAP Taxable accounts: Assets that can be transferred in kind: Transfer ASAP Assets that cannot be transferred in kind that have little to no capital gains: Liquidate and transfer ASAP Assets that cannot be transferred in kind that have significant capital gains: If you are able to tax loss harvest this year or have capital losses being carried forward that will balance out capital gains from liquidating, I would liquidate and transfer ASAP.
If not, consider holding them at EJ in the account with the lowest fees. If in the future they go down in value or you have sufficient capital losses harvested to balance out capital gains from liquidating these, do so. The best day to leave is yesterday. Today is the next best day. Thus the only wait is whatever it takes 1 day?
Don't do as I suggested. What funds does your friend have you in? Sort by Helpfulness Rating Date. Language English Any. Found 61 reviews matching the search See all 1, reviews.
What people like. Areas for improvement. Yes No. Indeed Featured review The most useful review selected by Indeed.
If you are an on-call your pay is terrible. There are no reviews or raises unless you beg for one. The training program is good but not all of the financial advisors want to give you time to get through training. Pros Financial advisors and the environment are good. Cons Upper management has no use for on- calls.
Was this review helpful? Yes There are 4 helpful reviews 4 No There are 1 unhelpful reviews 1. Report Share. The pay and benefits are good. The training is not adequate for the level of knowledge required to facilitate the management of clients' financial wellbeing. Yes There are 5 helpful reviews 5 No. No advancement and up not required to share bonus even though they can. Even though you do absolutely everything and have to babysit them.
Pros Depending on the situation the schedule can be flexible. Cons Nothing is about work anymore. Only about everyone's feelings etc. Claim to care about clients , most don't. Yes There are 7 helpful reviews 7 No. Everything is micro-managed by the home office.
The quality of your day will depend upon your relationship with the advisor because there are only two of you in the office. Pros benefits.
Cons Small office- gets lonely. Overly structured by home office. Yes There are 6 helpful reviews 6 No. The FA is the one bringing in the money and that's all they care about. Yes There are 9 helpful reviews 9 No. Job seekers rely on your experience. Your professional life is in the hands of the financial advisor you work for; pick well or suffer the consequences if you do not see eye-to-eye. Beware of companies that flaunt their wonderful culture; they most likely have serious problems as this one does - cliques abound among other issues.
If you want to help people, this is not the place for you; the bottom line comes first. The company is constantly changing procedures and requirements, which are not necessarily mandated. If the financial advisor doesn't ascribe to them, then you will find have to choose between the two. It's difficult to function efficiently in such poor environment. Your bonus depends on the financial advisor's bottom line which is tied to their experience and seniority; it also is tied to his or her willingness to give you one and how much.
The percentage is capped and the more administrators there are, the less you get as the total amount is shared. You must move all your retirement accounts and that of your spouse there and find yourself forced to pick your boss to manage them. Pros With the right financial advisor, you can make a good living.
Everyone I met and came in contact was kind and so willing to help everyone. Work-life balance Work-life balance at Edward Jones is important to everyone there. Plus I could qualify for bonuses and other rewards! Job security and advancement In terms of job security at Edward Jones, I think you feel safe in your job security. Management In general, managers at Edward Jones are helpful and caring.
Culture Collaboration with my colleagues at Edward Jones is recommended and easily done. Overall My experience working at Edward Jones was amazing. Yes No There are 1 unhelpful reviews 1. I was employed for a little less then 2 yrs. I enjoyed getting to know the clients and building their trust.
I was a top performer when it came to product sales. Unfortunately I worked for an FA who was a bully and micromanager. In my 40 yrs of working, never have I encountered someone so hateful and unprofessional. My coworker quit the 2nd week.
I complained to HR on more then one occasion but I was later terminated for misconduct. They told me I most likely would not be able to collect unemployment. They were wrong. TWC found no misconduct on my part. My FA also marked me as not rehirable. I feel I was discriminated against and I have filed a complaint with the EEOC, the company has yet to reach out to me. Cons No support from home office when you report discrimination.
Financial advisors are not held accountable for poor leadership skills at the branch. When looking for an investment company to invest with or work for investigate how they treat their administrators before you use them. This firm routinely looks the other way when financial advisors shirk their responsibilities to work with their administrators. Advisors are free to treat their administrative assistants with disrespect and are not held accountable for their poor leadership skills.
Pros vacation policy after 10 years is good. They want a more robust platform and ease of doing business. They want outside business activities OBAs.
They want book ownership. They want to self-brand. The common ground is that they all want more control—over how they are compensated, how they service clients and how they live their business lives. Independent broker-dealers like LPL, Raymond James Financial Services and Ameriprise have been big winners in the race for ex-Jones talent because these advisors know how to work independently, having long been the lone advisor in an office.
And firms like Raymond James and Wells Fargo have also recruited many a Jones advisor—offering entrepreneurial culture, significant transition deals, and the infrastructure and support they have come to rely upon.
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