Don't Trust Your Advisor If They Ask You to Sign This Form
http://www.edelmanfinancial.com/radio/ju...-sign-this-form
http://www.edelmanfinancial.com/radio/ju...-sign-this-form
Finance "Advisor" wants BADLY to see wifey TODAY!
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Originally Posted By: bdcardinal
I got a voicemail from the TDAmeritrade office begging me to come in. I do all my own stock buying and selling on their webpage. My only reason for ever going into their office was to seed my account like 9 years ago.
Met someone who works there. She has a list of people to call so she can manage their accounts and maybe get more money into the account.
I just have a Fidelity account and they don't try to churn my account. They just recommend some mutual funds once a year or so whenever I get around to seeing them. But all their funds that I buy are no fee.
I got a voicemail from the TDAmeritrade office begging me to come in. I do all my own stock buying and selling on their webpage. My only reason for ever going into their office was to seed my account like 9 years ago.
Met someone who works there. She has a list of people to call so she can manage their accounts and maybe get more money into the account.
I just have a Fidelity account and they don't try to churn my account. They just recommend some mutual funds once a year or so whenever I get around to seeing them. But all their funds that I buy are no fee.
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Originally Posted By: WillsYoda
Edward Jones is not good. Run, do not walk, away from them. Charming but they will take significant amounts of your money in fees. They are not your friend, although they may pretend to be. They are not fiduciaries. Do not let your family talk to him. Break all ties. Go to Bogleheads.org for discussions of Edward Jones and how bad they can be for you and your family.
Go here for more info...
goo.gl/1xkHEV
I could say the same about Hilliard Lyons, based on personal experience. When I was young dumb and full of... well, you know... and our son was still very young we wanted to setup a college fund. Felt very noble for planning so far ahead for our little bundle of joy. Ended up getting screwed for our efforts. Their broker pitched us a market based insurance variable annuity. We didn't know any better at the time but about the worst financial product possible for college fund savings, BUT paid the broker the highest commission or whatever of anything else they offered at the time. Within five years it tanked to half of the original value.
Edward Jones is not good. Run, do not walk, away from them. Charming but they will take significant amounts of your money in fees. They are not your friend, although they may pretend to be. They are not fiduciaries. Do not let your family talk to him. Break all ties. Go to Bogleheads.org for discussions of Edward Jones and how bad they can be for you and your family.
Go here for more info...
goo.gl/1xkHEV
I could say the same about Hilliard Lyons, based on personal experience. When I was young dumb and full of... well, you know... and our son was still very young we wanted to setup a college fund. Felt very noble for planning so far ahead for our little bundle of joy. Ended up getting screwed for our efforts. Their broker pitched us a market based insurance variable annuity. We didn't know any better at the time but about the worst financial product possible for college fund savings, BUT paid the broker the highest commission or whatever of anything else they offered at the time. Within five years it tanked to half of the original value.
Originally Posted By: Bud
Red Flag.
A big red flag.
Red Flag.
A big red flag.
Re: Edward Jones....how interesting.
A decade or more ago, someone wanted to introduce me to the local EJ rep in a strip center. I asked him for a screen of low P/E stocks he was watching. What I got back was a blank stare....like he didn't know what this was. He started asking Q's about this and I rapidly became suspicious.
Like your mechanic asking "What water pump?"
He then began to regail me with a few stories of "partying my [censored] off during the 'mow, blow & go' times. This jerk had fake, fool and goof-ball written all over him.
One HUGE reason why I've never trusted anyone to invest for me. They're all too aware of P.T. Barnum: "There's a sucker born every minute."
OP: Don't sign ANYTHING you don't thoroughly understand. Tell EJ rep you'll take it to your lawyer first (even if you don't have one).
Then watch his expression....
A decade or more ago, someone wanted to introduce me to the local EJ rep in a strip center. I asked him for a screen of low P/E stocks he was watching. What I got back was a blank stare....like he didn't know what this was. He started asking Q's about this and I rapidly became suspicious.
Like your mechanic asking "What water pump?"
He then began to regail me with a few stories of "partying my [censored] off during the 'mow, blow & go' times. This jerk had fake, fool and goof-ball written all over him.
One HUGE reason why I've never trusted anyone to invest for me. They're all too aware of P.T. Barnum: "There's a sucker born every minute."
OP: Don't sign ANYTHING you don't thoroughly understand. Tell EJ rep you'll take it to your lawyer first (even if you don't have one).
Then watch his expression....
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Originally Posted By: larryinnewyork
Originally Posted By: WillsYoda
Edward Jones is not good. Run, do not walk, away from them. Charming but they will take significant amounts of your money in fees. They are not your friend, although they may pretend to be. They are not fiduciaries. Do not let your family talk to him. Break all ties. Go to Bogleheads.org for discussions of Edward Jones and how bad they can be for you and your family.
Go here for more info...
goo.gl/1xkHEV
My thoughts exactly.
www.bogleheads.org is a Forum that discuss managing your own money using low cost Index Funds.
John Bogle is the Founder of Vanguard.
Do an internet search for bogleheads Edward jones
Read all the complaints people have with Ed.
I thought Bogle looked familiar.
When my finances (debt) are more under control, I plan on opening a Vanguard account to start planning for the future.
Originally Posted By: WillsYoda
Edward Jones is not good. Run, do not walk, away from them. Charming but they will take significant amounts of your money in fees. They are not your friend, although they may pretend to be. They are not fiduciaries. Do not let your family talk to him. Break all ties. Go to Bogleheads.org for discussions of Edward Jones and how bad they can be for you and your family.
Go here for more info...
goo.gl/1xkHEV
My thoughts exactly.
www.bogleheads.org is a Forum that discuss managing your own money using low cost Index Funds.
John Bogle is the Founder of Vanguard.
Do an internet search for bogleheads Edward jones
Read all the complaints people have with Ed.
I thought Bogle looked familiar.
When my finances (debt) are more under control, I plan on opening a Vanguard account to start planning for the future.
just keep in mind that these are people that work for you and you should take that to full effect.
In this case, dont ever let the power dynamic get switched around out for the sake of politeness or manners.
you are the boss, they work at your pleasure. By no means should you be doing what they say or on their schedule oe what they want..
As a side note don't take this attitude towards other like to a cashier or barista or server. if you do then you're just being insufferable
In this case, dont ever let the power dynamic get switched around out for the sake of politeness or manners.
you are the boss, they work at your pleasure. By no means should you be doing what they say or on their schedule oe what they want..
As a side note don't take this attitude towards other like to a cashier or barista or server. if you do then you're just being insufferable
Originally Posted By: beanoil
Your problem is Edward Jones.
Homeless Joe down in the city knows more than that bunch of hosers.
This is true.
You'll spend a lot less money on a subscription to WSJ than you will with Ed and you'll learn everything you need to know about what to do with your money.
Avoid fee-charging "investment advisors".
Unless you have hedge fund levels of money, they are no more than parasites sucking up some of what should be your ROI.
Your problem is Edward Jones.
Homeless Joe down in the city knows more than that bunch of hosers.
This is true.
You'll spend a lot less money on a subscription to WSJ than you will with Ed and you'll learn everything you need to know about what to do with your money.
Avoid fee-charging "investment advisors".
Unless you have hedge fund levels of money, they are no more than parasites sucking up some of what should be your ROI.
Jones is a home town firm, but I've found many of their agents to be ignoramuses.
My girl friend got taken to the cleaners by one of these "advisers" (different firm) and he churned her into horrible funds, variable annuities within IRA's, etc. Have no idea how much damage he did but I would think into six figures.
I moved her into Schwab (she wanted local contacts) and I'm so impressed with them that I consolidated separate Vanguard and Price funds with them. Most investments remain in Vanguard but I wanted to have one place for my kids to find the assets when I'm found dead on the floor. Schwab's web site is more complex but more useful than Vanguard's.
Schwab does not allow investment into Vanguard Admiral class funds, though I could directly buy Admiral shares from Vanguard and move them to Schwab for holding. Schwab's index funds and ETF's are even cheaper than Vanguard's, as low as three basis points so I'm buying them instead; although I've read on Bogleheads that the differences in a hundred thousand dollar investment for a decade would get you less than a ham sandwich.
I've thought about trying to get her former adviser's license pulled but until the changes enacted by the outgoing Obama administration, screwing people over by sticking them into [censored] products that enrich the seller was probably allowed. She was actually afraid of him.
I thought Trump was going to throw out the fiduciary responsibilities as part of his deregulation program. Did that get reversed?
At any rate-- as I saw with my own eyes, "Caveat Emptor".
My girl friend got taken to the cleaners by one of these "advisers" (different firm) and he churned her into horrible funds, variable annuities within IRA's, etc. Have no idea how much damage he did but I would think into six figures.
I moved her into Schwab (she wanted local contacts) and I'm so impressed with them that I consolidated separate Vanguard and Price funds with them. Most investments remain in Vanguard but I wanted to have one place for my kids to find the assets when I'm found dead on the floor. Schwab's web site is more complex but more useful than Vanguard's.
Schwab does not allow investment into Vanguard Admiral class funds, though I could directly buy Admiral shares from Vanguard and move them to Schwab for holding. Schwab's index funds and ETF's are even cheaper than Vanguard's, as low as three basis points so I'm buying them instead; although I've read on Bogleheads that the differences in a hundred thousand dollar investment for a decade would get you less than a ham sandwich.
I've thought about trying to get her former adviser's license pulled but until the changes enacted by the outgoing Obama administration, screwing people over by sticking them into [censored] products that enrich the seller was probably allowed. She was actually afraid of him.
I thought Trump was going to throw out the fiduciary responsibilities as part of his deregulation program. Did that get reversed?
At any rate-- as I saw with my own eyes, "Caveat Emptor".
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I have a fidelity account that I rolled some old 401k's into, and I have no idea how to manage it, or what to do with it.
Is bloom or similar services garbage?
Is bloom or similar services garbage?
"Caveat Emptor"
You work hard for your money, only you should invest YOUR money.
A simple ETF like VOO, VTI or VUG is what the average person needs.
You work hard for your money, only you should invest YOUR money.
A simple ETF like VOO, VTI or VUG is what the average person needs.
Originally Posted By: eljefino
my kids' 429 plan company badly wants me to sign an arbitration agreement. It's so cute how they use metered mail envelopes for me to return the forms. I shred the mess, every time.
Take the envelops and mail them back junk mail from another company. I do this all the time. Stuff it with pizza advertisements. I have wondered if i slapped the metered envelop on to a box containing a rusty brake rotor, would the bill them and deliver it?
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Originally Posted By: spasm3
Originally Posted By: eljefino
my kids' 429 plan company badly wants me to sign an arbitration agreement. It's so cute how they use metered mail envelopes for me to return the forms. I shred the mess, every time.
Take the envelops and mail them back junk mail from another company. I do this all the time. Stuff it with pizza advertisements. I have wondered if i slapped the metered envelop on to a box containing a rusty brake rotor, would the bill them and deliver it?
This would work for Business Reply mail, not metered.
Metered mail has already been paid for, and would hold an ounce. It cracks me up that they're blowing money like this. They must really really want me to not sue them. What are they afraid of?
Business Reply is only paid for when it goes through the post office.
Originally Posted By: eljefino
This would work for Business Reply mail, not metered.
Metered mail has already been paid for, and would hold an ounce. It cracks me up that they're blowing money like this. They must really really want me to not sue them. What are they afraid of?
Business Reply is only paid for when it goes through the post office.
Jones is a home town firm, but I've found many of their agents to be ignoramuses
So is Scottrade...Roger Riney still lives in a normal subdivision house in Des Peres he moved into 30 years ago...he is personally a THRIFTY son of a gun and runs the company the same way. He used to drive a used Lexus LS400, when it finally died, he bought a used LS430.
So is Scottrade...Roger Riney still lives in a normal subdivision house in Des Peres he moved into 30 years ago...he is personally a THRIFTY son of a gun and runs the company the same way. He used to drive a used Lexus LS400, when it finally died, he bought a used LS430.
JHZR2
Staff member
Be careful. The only thing I'd recommend is if you earn too much to directly be eligibile, learn how to do the backdoor roth.
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