Edward Jones review
- Stock trade fee
- $4.95
- Minimum deposit
- $0
Summary
Get in-person support from a financial advisor, but its hefty fees may eat into your investments.
Edward Jones is a unique brokerage firm that provides financial advisors to its clients. Visit one of their offices for an in-person consultation with an advisor regarding your portfolio. But because you get human interaction and personalized advice, Edward Jones comes with high fees.
- Choose Edward Jones if you want a financial advisor to take care of your investments.
- Look elsewhere if you’re an active trader or if you want a low-cost automated option.
Details
Features
| Available asset types | Stocks, Bonds, Mutual funds, ETFs |
| Account types | Brokerage, Retirement |
| Minimum deposit | $0 |
Overview
| Fees | ★★★★★1/5 | As a more traditional brokerage, Edward Jones charges comparatively high fees on trading and account management. |
| Available securities | ★★★★★ 5/5 | It offers stocks, ETFs, mutual funds, bonds, fixed-income investments and unit investment trusts. |
| Customer support | ★★★★★ 5/5 | Contact support by phone, online or visit one of the 15,000 branches and talk to your personal financial advisor. |
| Mobile app | ★★★★★ 3.9/5 | Both Android and iOS mobile apps users love that they can track their retirement goals. |
| Research and tools | ★★★★★ 5/5 | Personalized advice from financial advisors. |
| Reliability | ★★★★★ 5/5 | No major outages have been reported. |
To learn how our star ratings are calculated, read the methodology at the bottom of the page.
What investments does Edward Jones offer?
Edward Jones offers a wide selection of securities for investors:
- Stocks and ETFs. Trade over 65,000 stocks or invest in specific categories of securities with exchange traded funds (ETFs).
- Mutual funds. Purchase both passive and active mutual funds run by professional money managers.
- Bonds and CDs. Fixed-income investment products, including municipal, corporate and Treasury bonds, along with certificates of deposit.
- UITs. Invest in fixed portfolios or unit investment trusts (UITs) comprised of professionally selected stocks and bonds.
Who is Edward Jones best for?
Edward Jones is intended for investors who prefer a hands-off approach to their investments. Work with a financial advisor to build your portfolio based on your financial goals and risk appetite. Otherwise, get your portfolio professionally managed and rebalanced, depending on your account type.
Fees and costs
Edward Jones’s fees and commissions depend upon your account type and size. And its advisory fees are tiered for its Guided Solutions and Advisory Solutions accounts. That means your fees are lower with the more you invest.
| Account Type | Investment Minimum | Commissions | Annual Fee | Features |
|---|---|---|---|---|
| Select Transactional Brokerage Account | None |
| None |
|
| Guided Solutions Fund Account | $5,000 | None | 1.35% advisory fee |
|
| Guided Solutions Flex Account | $25,000 | None | 1.35% advisory fee |
|
| Advisory Solutions Fund Model | $25,000 | None | 1.35% advisory fee + 0.09% portfolio strategy fee |
|
| Advisory Solutions UMA Model | $500,000 | None | 1.35% advisory fee + 0.19% portfolio strategy fee |
|
How do I sign up?
You’ll need to connect with a financial advisor to open an Edward Jones account. Here’s how to find a financial advisor near you.
- Head to the Edward Jones website.
- Choose Find a financial advisor button in the top right-hand corner.
- Enter your city, state or ZIP code and select Search results.
- Hit Learn more to read each advisor’s profile and contact information.
Eligibility
To qualify for an Edward Jones account, you’ll need to be:
- A US citizen
- At least 18 years old
Required information
During the application process, it’s best to have the following details handy:
- First and last name
- Valid US address
- Phone number
- Social Security number
- Bank account info
- Income and financial info
Research tools
While Edward Jones equips you with a financial advisor to make investment recommendations, you also have access to basic stock market news to do your own research. Investors can access:
- Daily market snapshots. Get the headlines and highlights of today’s market session.
- Weekly market wrap-ups. See how the market performed during the week at the end of Friday’s market close.
- Quarterly market outlooks. Read up on recent activity in the capital markets in an exclusive Edward Jones quarterly report.
- Stock quotes. Get instant market data from Thomson Reuters.
- Watchlists. Monitor your favorite companies and mutual funds.
- Market Pulse reports. Stay informed on the latest market movements.
Pros and cons
Pros
Here’s what makes Edward Jones stand out from the competition.
- Local financial advisors. Edward Jones offers financial guidance for every account type.
- Range of control. Investing solutions that let you choose how hands-on you want to be with your account and trading activity.
- Low account minimums. While many financial advisory firms have investment minimums, Edward Jones doesn’t require a minimum account balance work with a financial advisor.
Cons
Consider these drawbacks before opening an Edward Jones account.
- Pricey commissions on Select Accounts. You’ll pay steep transaction fees for every trade on its Select Transactional Brokerage Accounts.
- High management fees on Solutions Accounts. Although its annual advisory fees are tiered, you’ll need a hefty account balance to unlock its lower tiers.
- No active trading. The platform is geared towards buy-and-hold investors and isn’t designed to actively trade securities.
Is Edward Jones legit?
Yes. Edward Jones was founded in 1922 and has grown to serve over 7 million investors. It has over 15,000 branch office locations in the United States and Canada, with over 18,000 financial advisors ready to serve. Edward Jones offers account protection through the Securities Investor Protection Corporation (SIPC), insuring up to $500,000 for missing securities, including $250,000 for cash claims.
Edward Jones doesn’t have any complaints registered against it on the Consumer Financial Protection Bureau (CFPB). And it’s not currently accredited with the Better Business Bureau (BBB).
Edward Jones reviews and complaints
Edward Jones’s feedback is few and far between and mostly negative.
It holds a 1.62 out of 5-star rating with the BBB based on 21 reviews as of February 2022. And its TrustScore is slightly more optimistic with a 3.5 out of 5-star rating based on four reviews.
A common anthem among its customers is that the fees are incredibly high, which can easily eat into your investments. And while some clients liked their financial advisor, others found that their financial advisor made some administrative errors when setting up their accounts or had difficulty when trying to transfer their accounts.
How do I contact Edward Jones support?
To touch base with Edward Jones, you’ll need to use its search feature to find a financial advisor near you. Once you’ve identified an advisor you’d like to contact, reach out by:
- Phone
- Secure email message
- Visiting a local branch office
Edward Jones alternatives
Edward Jones lets you meet your financial advisors in person, in the office. That’s what makes it an expensive service. But in recent years, automated investment services have emerged by way of robo-advisors.
Robo-advisors let you set your investment goals and risk preference and then a computer algorithm takes over and allocates your funds accordingly. Because these are automated systems, most of them come with no management fees whatsoever. Robo-advisors can be excellent Edward Jones alternatives if you want someone else to manage your account but without paying high fees.
Compare Edward Jones to other platforms
Edward Jones
★★★★★
Finder rating 3.7 / 5
Available asset types
Stocks, Bonds, Mutual funds, ETFs
Stock trade fee
$4.95
Minimum deposit
$0
Complete signup bonus
SoFi Invest®
★★★★★
Finder rating 4.2 / 5
Available asset types
Stocks, Mutual funds, ETFs, Alternatives
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get up to $1,000 in stock when you fund a new account within 30 days.
Tastytrade
★★★★★
Finder rating 4.6 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get $100-$5,000 when you open and fund an account with $5,000 to $1,000,000+
Bottom line
Edward Jones is a full-service brokerage firm with access to financial advisors every step of the way. You can choose to execute trades yourself or allow a financial advisory to select your investments based on your account type. But you’ll pay hefty fees, including advisory and portfolio strategy fees.
Shop around to find more competitive investment accounts that also offer face-to-face time with an investment advisor or opt for a robo-advisor to automate your portfolio.
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
Edward Jones is not currently available on Finder
Have you considered SoFi Invest®?
- No-cost financial planning and automated investing
- $0 commission on stocks, ETFs and options
- Get up to $1,000 in stock when you fund a new account within 30 days
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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
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