I told them to cancel it, said thank you, and got off the phone. 80% stock, 20% bonds), Retirement goal summary (goal retirement dollars and date for each of us), Proposed savings strategy (required savings rate/month), Social security and pension (starting at age ~67). Once I showed my spouse the cost involved with the 1.5% advisory fee, he was likewise anxious to leave the old broker and move the portfolio to Vanguard. Since we work with other companies like Vanguard and Fidelity to serve our clientsâ investment needs, Iâve had the privilege of working with both. Edward Jones - Get out ---> Vanguard is the way to go!!! This will be Extra $ for my Heirs and just alittle something for them after I’m gone, inorder to help them save more for Retirement. Some level of bond exposure is part of a balance asset allocation. It’s you get what you DON”T pay for. That is an IRS matter and info is at the IRS site. Should you need such advice, consult a licensed financial or tax advisor. I managed my own portfolio for 35 years and I was tired of it. Then, you can access the questionnaire. You can determine the trade cost in advance with the ticker symbol on Vanguard’s website. You would just rollover all the funds I currently have into this account? I remain eternally grateful to the Dough Roller podcast, especially this episode which convinced me to contact Vanguard Advisors: https://www.doughroller.net/investing/vanguard-investment-advisory-services/ . Why? and even had a briefcase with over $150k cash in it.. from selling Some other Assets people paid us cash for .. Vanguard’s service, in my experience, is great for someone who knows nothing or little about investing and/or doesn’t want to spend the time. Really? The portfolio was held at a large, full service broker and was being charged an annual fee of 1.5% of assets under management. I recommend the video conference because the vanguard advisor can display helpful slides to illustrate various points. ie: just keep the $ in my Wellesly and VBINX and VBILX? She even listed out the funds and allocation. The pros are: initial help with a plan; low fees; automatic rebalancing and a sensible and diversified approach. In fact, Vanguard's late founder, John Bogle (1929-2019) is credited with bringing an index-investing strategy, once the purview of institutional investors, to the retail crowd. That seemed like a bargain: $50,000 * 0.3% = $150 / year. Therefore, Vanguard ultimately proposed that we sell everything and invest in the low cost allocation of index funds. This tool will show you if you are on track to retire on your terms. As we are getting older we are consolidating our accounts in Vanguard to keep it simpler for the future. re: Edward Jones - Get out ---> Vanguard is the way to go!!! Brokerage Edward Jones appears to be throwing the baby out with the bathwater. Detailed summary of our current asset allocation across all accounts (both our Vanguard accounts and my workplace 401k), Proposed asset allocation (e.g. If you ever have questions, feel free to look me up. Keep adding. Thanks for sharing your experience. Vanguard is absurdly easy and their fees are 10x lower than Edward Jones. Vanguard Advisors is a great option for someone who wants to pick up the phone and speak to an advisor about his/her portfolio. You are not obliged to engage a Vanguard advisor even after obtaining a financial plan. Can anyone please link this if they know where is? Looking back, I guess we weren’t a “big enough fish” for him. I inherited some investments held through Edward Jones and at the time decided to keep them invested with EJ. Iâm always happy to help. I chose to travel! Per his suggestion (while he was sick), I contacted a fee for service personal finance adviser who reviewed everything, (his, hers, ours) and suggested I consolidate everything at Vanguard. During the period that I was interacting with Vanguard Advisors, I did a deep dive into the world of personal finance. They didn’t mention until 2 years later that I could have kept the funds in a self-managed account. Can You Really Pay Off Your Mortgage Early with a HELOC? But through these firms clients can also buy and sell stocks, options, bonds and other investments. Edward Jones’ absence of online trading may be irritating to the savvy investors that want to easily manage their own funds. Depending on how much money you have at Vanguard, trades could be free or $7, and some ETF’s could be $35 per stock trade. … Thanks. I knew that lower fees were better than higher fees, but I didn’t feel comfortable taking responsibility for my spouse’s retirement portfolio. 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