Edward Jones Traditional and Roth IRA Review
Edward Jones offers a personal approach to personal finance in an industry trending toward
robo-advisors and self-directed investing. Is that approach right for your Traditional or Roth
IRA? Continue reading to find out.
Edward Jones Traditional and Roth IRA Fees
| Program | Minimum Investment | Fees |
|---|
| Guided Solutions | $5,000 | 1.35% |
| Guided Solutions Flex | $25,000 | 1.35% |
| Advisory Solutions | $25,000 | $1.35%
Portfolio Strategy Fee – 0.09% |
| Advisory Solutions UMA | $500,000 | 1.35%
Portfolio Strategy Fee - 0.19% |
Edward Jones Pros
Personal Attention from an Advisor. Edward Jones is committed to personal, human financial advising, promising at least yearly reviews with a local financial advisor. With over 15,000 branch offices and nearly 19,000 financial advisors, most Americans have an advisor nearby.
Goal Oriented. Your investing goals, such as your preferred level of spending in retirement, are front and center at Edward Jones. Progress toward these goals is analyzed in the annual review with the financial advisor, and these goals are prominently displayed in the online member’s area.
Disciplined Approach to Investment Recommendations. Edward Jones has a disciplined approach to the investments they recommend. Their Investment Policy Committee sets guidelines emphasizing quality, diversification, and long-term value.
Edward Jones Cons
High Fees. The personal approach is expensive and leads to higher fees than competitors.
Hands Off. Unlike other brokers, you cannot initiate purchases or sales by yourself through their website or app. All such transactions go through your financial advisor.
Average Returns. Despite the service of a financial advisor, many investors will not see
outsized returns compared to self-directed or
robo-advised investment.
Edward Jones Programs and Prices
Edward Jones offers four advisory programs for their Traditional and Roth IRAs. Which one is
right for you will depend on how much money you have invested, how involved you want to be in
managing your investments, and the kinds of assets you want access to. While some programs offer
clients more control over their investments, investors wanting to personally manage their
investments will feel restricted by these programs.
Additionally, the fees charged for these programs are high compared to other brokers. However, for those wanting personal, human financial advice, those fees may be worth the cost.
Guided Solutions. This is the entry level advisory program at Edward Jones, with a minimum investment of $5,000. Fees begin at 1.35% but are tiered down for larger accounts. Guided Solutions funds are managed by the client and the financial advisor, so they are better for those who want more say in their investments. Investments available include mutual funds and ETFs.
Guided Solutions Flex. Like Guided Solutions, this program is managed by the client and financial advisor and is best for those who want more say in their investments. However, this program has more investments available, including mutual funds, ETFs, individual stocks, bonds, and certificates of deposit. Minimum investment is $25,000. Fees begin at 1.35% but are tiered down for larger accounts.
Advisory Solutions. This program is for investors who want to be more hands-off than Guided Solutions. Clients will still have annual reviews, but the day-to-day management is handled by the financial advisor and a team of investment professionals. Investments available include mutual funds and ETFs. Minimum investment is $25,000. Fees begin at a 1.35% program fee and 0.09% portfolio strategy fee but are tiered down for larger accounts.
Advisory Solutions UMA. Like Advisory Solutions, this program is for investors who want to be more hands-off, with day-to-day management handled by the financial advisor and a team of investment professionals. This program offers expanded investments from Advisory Solutions, including what Edward Jones calls “separately managed allocations” – essentially, portfolios of individual stocks and bonds. Minimum investment is $500,000. Fees begin at 1.35% program fee and 0.19% portfolio strategy fee but are tiered down for larger accounts.
Find a Financial Advisor
If you are looking for a professional financial advisor in your area, you can
find top Financial Advisors on the Wiser Advisor website.
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Customer Service
Edward Jones excels at personal and active financial advice and customer service through their
extensive network of over 15,000 branch offices and nearly 19,000 financial advisors. Financial
advisors are available by personal meeting, phone, text message, email, and online messaging via
the Edward Jones website.
Edward Jones promises an annual review with the financial advisor. Many customers report that financial advisors will contact clients after shake-ups in the financial sector. However, not all financial advisors are the same, and some may not offer good customer service.
Goals
The annual review with an Edward Jones financial advisor will focus on two areas: your investing
goals and risk tolerance. All investment decisions are based on achieving goals within each client’s
attitude to the ups-and-downs of the financial sector.
Paper statements will reflect progress towards those goals, and they are also prominently reflected on the website, as your goals appear on the initial screen, and they also have their own navigation tab.
Clicking on any Goal within the Goal Tab brings up the Explore Scenarios page. This tool allows the user to change variables related to the goal. With the Retirement goal, for example, the user can adjust age of retirement, desired spending, and other income to see if these changes affect the probability of achieving the goal.
Website
The website lacks many of the features found on the websites of other brokers. Missing are
utilities to buy and sell investments or to invest with a robo-advisor. However, it does facilitate what Edward Jones emphasizes: contact with a human financial advisor and an emphasis on meeting goals.
It offers a messaging area to communicate with the financial advisor, a documents area for statements and other financial documents, and a research and market news area for those that want insights on investments and other considerations in the financial world.
Additionally, the website offers a banking area to initiate transfers and pay bills.
Banking
Speaking of banking, Edward Jones offers banking services for brokerage accounts, including check writing, loans, and bill pay.
Edward Jones Review Summary
Edward Jones is best for investors looking for goal oriented, long-term, personal investing
advice. They will find the comparatively high fees money well spent. Those who want to minimize
fees and maximize their involvement in investing will find Edward Jones less than satisfactory
and can use one of the
discount brokers instead.
Visit Edward Jones
Edward Jones Website
Find a Financial Advisor
If you are looking for a professional financial advisor in your area, you can
find top Financial Advisors on the Wiser Advisor website.
Visit Wiser Advisor
Updated on 1/1/2025.
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