Edward Jones

[rossmosh]

Edward Jones makes their money essentially ripping people off. It shouldn't shock you one bit they're playing around with payment. Their whole business model is based on turning 1% into a meaningful amount of money via compounding interest.

 

[Zendavor Signs]

Sign and return the lien waiver, and you’re done. They can string you out for as long as they want. Yes, you can file a lien. Actually there is a preliminary step, something like a notification of intent to file a lien. I would threaten to do that if you don’t get paid in x amount of time. 90 days is the cut off, and you need 10-15 days to have an attorney file the paperwork. It’s a nasty step, but it gets results. If you do end up filing that, they will pay you whatever you want and beg you to back off. And they’ll never deal with you again

 

[Boudica]

Edward Jones makes their money essentially ripping people off. It shouldn't shock you one bit they're playing around with payment. Their whole business model is based on turning 1% into a meaningful amount of money via compounding interest.

Yikes, my 401K and a Roth IRA are with Edward Jones. It's been about 3-4 years now... I've been happy with my financial advisor. I'm one of his favorite clients (but most people say that about me)

 

[rossmosh]

Yikes, my 401K and a Roth IRA are with Edward Jones. It's been about 3-4 years now... I've been happy with my financial advisor. I'm one of his favorite clients (but most people say that about me)

There is absolutely no reason to use Edward Jones these days. I don't know your age or how much you invest, but by investing with them, you're losing out on a huge sum of money. If you're a max out your IRA and 401k type of person, it will be more.

They hit you twice with fees. The first is a high expense ratio fund. Where Vanguard/Fidelity/Schwab are .05-.16%, Edward Jones will have you invested in .95-1.5%. Then they hit you with managing fees that are 1-3%. Because of the way compounding interest works, while it might not be a lot when you look at it after a few years, when you take that money and compound it over 30 years, it's A LOT of money.

You'll 100% do better in the long run going with one of the three companies above and investing all your money in a Target Date retirement fund. Even if your guy at Ed Jones is a good investor (he's not) whatever slick moves he pulls off will likely be zero'd out by either his future losers or the fees, expenses, and commissions he sucks out of your account.

Here's a pretty decent article on why you should ditch EJ and self invest with a basic portfolio: https://nine-thrive.com/edward-jones-vs-vanguard-which-is-better/

 

[Texas_Signmaker]

There is absolutely no reason to use Edward Jones these days. I don't know your age or how much you invest, but by investing with them, you're losing out on a huge sum of money. If you're a max out your IRA and 401k type of person, it will be more.

They hit you twice with fees. The first is a high expense ratio fund. Where Vanguard/Fidelity/Schwab are .05-.16%, Edward Jones will have you invested in .95-1.5%. Then they hit you with managing fees that are 1-3%. Because of the way compounding interest works, while it might not be a lot when you look at it after a few years, when you take that money and compound it over 30 years, it's A LOT of money.

You'll 100% do better in the long run going with one of the three companies above and investing all your money in a Target Date retirement fund. Even if your guy at Ed Jones is a good investor (he's not) whatever slick moves he pulls off will likely be zero'd out by either his future losers or the fees, expenses, and commissions he sucks out of your account.

Here's a pretty decent article on why you should ditch EJ and self invest with a basic portfolio: https://nine-thrive.com/edward-jones-vs-vanguard-which-is-better/

100% correct. My church wanted to invest in Edward Jones... the local "broker" came by and gave us a song a dance. I was on the board at the time and told them this is a horrible deal and not to be afraid of investing ourselves. They have something like a 3% load fee... so right off the bat you loose a good chunk of $$... ON TOP of the 1%+ management fees. Compare that to investing at Fidelity or Vanguard or Shawb in their low-cost ETF that charge 0% fees. They used to be %0.1 but some are completely FREE. It doesn't sound like a big difference, but with an average return of 10% a year... a 4% "fee" is practically reducing YOUR gains by 40%! Needless to say the church established an investment committee and guess who was elected to run it.

 

[Texas_Signmaker]

Signing a waiver before getting payment is common, that's why it says "In consideration of $xxx amount". If you don't get the money, the contract hasn't been satisfied. 90% of my business is from construction companies... it's very common in that arena, and some make you go get it notarized too. That's why I asked you if you got the order from Edward Jones directly or a third party and you never answered.

 

[Boudica]

Tex, are you willing to take over as my finance guy? lol. I don't have time to deal with it and keep up with this and that... I just want my money to grow while it's sitting somewhere. I rarely look at it, but when I do it's always grown.

 

[Notarealsignguy]

Wait, this is backwards. Essentially when signing the waiver, you are waiving your right to file a lien because you have been paid, not to waive your right to place a lien if you have not been paid.
Am I right?

The clause says in consideration of the sum of.... No pay and the release is nullified. It doesn't sound like a standard construction lien release that is absolute. More like some in house we paid you and our ties are now cut

 

[Texas_Signmaker]

Tex, are you willing to take over as my finance guy? lol. I don't have time to deal with it and keep up with this and that... I just want my money to grow while it's sitting somewhere. I rarely look at it, but when I do it's always grown.

Sign up for Fidelity, buy ONEQ or IVV and let it sit there. The hardest part is going to be breaking up with your old boyfriend Edward Jones.

 

[Boudica]

Sign up for Fidelity, buy ONEQ or IVV and let it sit there. The hardest part is going to be breaking up with your old boyfriend Edward Jones.

I'll have you know, not everyone that appreciates me was once a lover. I have many fans. People like me. (for some reason)

 

[CanuckSigns]

Tex, are you willing to take over as my finance guy? lol. I don't have time to deal with it and keep up with this and that... I just want my money to grow while it's sitting somewhere. I rarely look at it, but when I do it's always grown.

The stock market over the last 5 or so years has been so good that you could give your money to a goldfish to invest and you would come out ahead.

About 3 years ago I took an interest in investing and read a few books, I was also with a financial planner at the time, and while I was making money, it wasn't very much. Financial advisors are just salesmen, they don't need to know much except how to sell you their products. And the industry is set up to rip you off because their fees are completly hidden, the funds they sell have a MER which is a management expense ratio,taken off the top, so if your fund returned 7%, and ther MER is 2%, they report that your investments earned 5%.

The financial planners that work at the banks and the big chain places like Edward Jones are generally bottom of the barrel, and the MER they charge is huge, they rely on brand recognition to convince clients they know what they are doing.

I switched to a "robot advisor" which is a service that invests your money using algorithms suited to your risk tolerance, and they invest in very low cost ETF funds, the robo advisor charges 0.5% for this service, my old advisor charged 2.7%, over 40 years, this is a difference of hundreds of thousands of dollars in my pocket. You can punch your own numbers into this site to see for yourself. https://larrybates.ca/t-rex-score/

I also reccomend reading a book called "millionaire teacher" it's written for the Canadian audience, but it does address the USA as well, it's what opened my eyes.

 

[Johnny Best]

I do a lot of work for Raymond James, same type of company as Edward Jones. They take 30 days to pay and longer because of the Covid and people are working remotly. When you first do work for them they have a process of putting you in the system and that is what you are going through but you are freaking out because you think you may not get your $5,000. You can't strong arm a large company, they have a lot of people in Accounting and it's a process. You will probably get red flagged for being such a dumb fuCk with your screaming and yelling and your better than this attitude. The lien paper is to cover themselves from vendors like yourself who seem unstable.

 

[signage]

A contract is a binding agreement, they need to follow your contract if they signed it, the same as you have to follow their if you signed it.

 

[Solventinkjet]

The stock market over the last 5 or so years has been so good that you could give your money to a goldfish to invest and you would come out ahead.

About 3 years ago I took an interest in investing and read a few books, I was also with a financial planner at the time, and while I was making money, it wasn't very much. Financial advisors are just salesmen, they don't need to know much except how to sell you their products. And the industry is set up to rip you off because their fees are completly hidden, the funds they sell have a MER which is a management expense ratio,taken off the top, so if your fund returned 7%, and ther MER is 2%, they report that your investments earned 5%.

The financial planners that work at the banks and the big chain places like Edward Jones are generally bottom of the barrel, and the MER they charge is huge, they rely on brand recognition to convince clients they know what they are doing.

I switched to a "robot advisor" which is a service that invests your money using algorithms suited to your risk tolerance, and they invest in very low cost ETF funds, the robo advisor charges 0.5% for this service, my old advisor charged 2.7%, over 40 years, this is a difference of hundreds of thousands of dollars in my pocket. You can punch your own numbers into this site to see for yourself. https://larrybates.ca/t-rex-score/

I also reccomend reading a book called "millionaire teacher" it's written for the Canadian audience, but it does address the USA as well, it's what opened my eyes.

So you're saying putting everything I've got into $GME isn't a good idea?

 

[3Dsigns]

I do a lot of work for Raymond James, same type of company as Edward Jones. They take 30 days to pay and longer because of the Covid and people are working remotly. When you first do work for them they have a process of putting you in the system and that is what you are going through but you are freaking out because you think you may not get your $5,000. You can't strong arm a large company, they have a lot of people in Accounting and it's a process. You will probably get red flagged for being such a dumb **** with your screaming and yelling and your better than this attitude. The lien paper is to cover themselves from vendors like yourself who seem unstable.

The company promised, on paper, to pay us in 30 days. After 30 days I politely contacted the local advisor who said he would look into why I hadn't been paid yet. He relayed the message to me that it was being taken care of and my payment was on the way, no other stipulations were made by them. Now, over 2 months later, they are now asking for this lien waiver. Tell me again who is being "strong armed"? And calling someone you don't even know a "Dumb***" is a real nice touch which assures that I totally disregard the validity and good will of any advise you may offer. What an arrogant person.

 

[Adam Vreeke]

favorite lawyer

What's that?

 

[3Dsigns]

Signing a waiver before getting payment is common, that's why it says "In consideration of $xxx amount". If you don't get the money, the contract hasn't been satisfied. 90% of my business is from construction companies... it's very common in that arena, and some make you go get it notarized too. That's why I asked you if you got the order from Edward Jones directly or a third party and you never answered.

The local Edward Jones "Financial Advisor" ordered this sign. It is the corporate office who is giving me the runaraound. If they had been up-front about this, that would have been one thing. But now that they've gave me the runaround on my payment, when it was told to me that am check would be sent right out, THEN they spring this crap on me, heck if I signed their thing now, they'll drag around another month. I did what I was commissioned to do, they have sat on my money while enjoying the benefits of using my sign for 2 months, NOW they want to hold my payment for ransom? I need my money now.

 

[CanuckSigns]

The local Edward Jones "Financial Advisor" ordered this sign. It is the corporate office who is giving me the runaraound. If they had been up-front about this, that would have been one thing. But now that they've gave me the runaround on my payment, when it was told to me that am check would be sent right out, THEN they spring this crap on me, heck if I signed their thing now, they'll drag around another month. I did what I was commissioned to do, they have sat on my money while enjoying the benefits of using my sign for 2 months, NOW they want to hold my payment for ransom? I need my money now.

I know this is completely off topic being a sign board, but that is a really nice sign!

 

[White Haus]

The stock market over the last 5 or so years has been so good that you could give your money to a goldfish to invest and you would come out ahead.

About 3 years ago I took an interest in investing and read a few books, I was also with a financial planner at the time, and while I was making money, it wasn't very much. Financial advisors are just salesmen, they don't need to know much except how to sell you their products. And the industry is set up to rip you off because their fees are completly hidden, the funds they sell have a MER which is a management expense ratio,taken off the top, so if your fund returned 7%, and ther MER is 2%, they report that your investments earned 5%.

The financial planners that work at the banks and the big chain places like Edward Jones are generally bottom of the barrel, and the MER they charge is huge, they rely on brand recognition to convince clients they know what they are doing.

I switched to a "robot advisor" which is a service that invests your money using algorithms suited to your risk tolerance, and they invest in very low cost ETF funds, the robo advisor charges 0.5% for this service, my old advisor charged 2.7%, over 40 years, this is a difference of hundreds of thousands of dollars in my pocket. You can punch your own numbers into this site to see for yourself. https://larrybates.ca/t-rex-score/

I also reccomend reading a book called "millionaire teacher" it's written for the Canadian audience, but it does address the USA as well, it's what opened my eyes.

Will check this book out, thanks! I started investing (Wealthsimple) in the stock market right in March 2020 and have done quite well considering I didn't/don't know what the hell I'm doing. I also have some ETF accounts which do okay but I can do way better with my own stock picks. I can't say anything would ever inspire me to use a planner/investment guy, despite several friends and family's attempts at recruiting me. No thanks!

 

[White Haus]

The local Edward Jones "Financial Advisor" ordered this sign. It is the corporate office who is giving me the runaraound. If they had been up-front about this, that would have been one thing. But now that they've gave me the runaround on my payment, when it was told to me that am check would be sent right out, THEN they spring this crap on me, heck if I signed their thing now, they'll drag around another month. I did what I was commissioned to do, they have sat on my money while enjoying the benefits of using my sign for 2 months, NOW they want to hold my payment for ransom? I need my money now.

Not to get too side-tracked, but is that HDU? Great looking sign and signs in the background.