Edward Jones

I have dealt with multiple Edward Jones offices in Florida and have never had any problems. The Edward Jones associates I have had experience with always go out of their way to assist me and in some cases to no direct benefit to them. I have had IRA’s and personal investment accounts with them as well. They keep an open line of communication and stay on top of your accounts and stock info…rmation. The only problem with Edward Jones is that their branches are not connected. If you relocate, you have to move all your accounts to a new Edward Jones office if you want to access your accounts. It is not like a bank, where you can go to any branch and make a deposit or withdrawal.
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I am reviewing Edward Jones as an investment firm. About 10 years ago, I inherited some stocks from my father after he died. I went to an Edward Jones advisor to help me retitle these stocks in my name (which he did, and he did without charge). However, he convinced me to "diversify" my portfolio of stocks and made some recommendations. At the time, the stocks were worth about $24,000. He …evaluated my holdings and sold some stocks and purchased others. None of his picks ever really did anything, but he continued to bug me to make changes (after all, that is how he makes his money). I refused, because I wanted to just "hold" them for awhile, so he stopped calling. I recently moved to a new area and decided to find another Edward Jones representative and let him evaluate my portfolio (which is now worth about $16,000, so it's taken a hit). This new guy seemed really interested in me, but he was more interested in the $500,000 I have in TIAA-CREF than in my Edward Jones account. To make a long story short, I am disappointed with this Edward Jones office, too. I've tried to get a recommendation from their corporate offices for someone who could help me sort out the stocks, but they have been unresponsive. I am not very well versed in the stock market, but I know enough to protect myself. I therefore think you need to be cautious when dealing with this firm. They may be OK for some, but not for me. All of their picks have lost money, while the ones I originally started with are doing OK. I will wait until the market turns around and then sell everything at some point and get the heck out of the market!
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