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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: Talk me out of a Financial Advisor Date: 6/3/2013 9:45 PM
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AngelMay writes,

My money is with Vanguard today. This includes mutual funds and two brokerage accounts for buying and selling stocks. So far this year I've bought and sold stocks about 15 times and it hasn't cost me one single penny in commissions. If I keep this up... I will run out of free transactions and have to begin paying.....<GASP!>....$2 whole dollars in commission for each purchase or sale. :)

I get really angry when I hear stories from people like a couple I know who do business with Edward James (which doesn't advertise its commission schedule - and you will play hell trying to find out what it is). ONE SINGLE stock buy cost them about $250 in commission. WHY? Why would anyone do that?

</snip>


I found this Edward Jones Financial Advisor Compensation Fact Sheet on the web (i.e., info for new Edward Jones employees.)

http://careers.edwardjones.com/groups/jop_content/documents/...

I particularly liked their travel program.

At Edward Jones, you will have the distinct opportunity to participate in business diversification trips (like the one to London UK). This popular program recognizes and rewards those who build a strong book of business. It promotes knowledge sharing in an atmosphere where Financial Advisors can relax and recharge.

Generally, approximately half of our Financial Advisors qualify for our diversification trip.

</snip>


There are no happy endings for customers underwriting this largess.

intercst
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