Search found 11 matches

by smsdad
Sun Jul 16, 2017 8:59 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

Everything except the tiny <$1 amount in a joint account has transferred over. They still show the tIRA but with a balance of zero. The rIRA doesn't show up at all anymore. I expect that the traditional will disappear at some point. I don't care about the last bit remaining in the joint account but I would like it to go away even if it means being one last parting "fee" they take from me.

I need to start selling off the old assets I suppose and get into the new funds. I have really appreciated all the guidance here!
by smsdad
Fri Jul 07, 2017 9:09 am
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

The 9 left-over mutuals at EJ also show up(along with nearly all their assets) in the VG account. The amounts in the EJ account range anywhere from $3 to $86, for about $400 total. When I get some time later today I will call VG to make sure that I understand what is going on with the account at EJ and to figure out what is to become of the 70 cent Joint account. When I transferred out of EJ a couple months ago, there were a few small amounts that came over in dribs and drabs for about a month after the majority of assets had transferred. I never understood why. Just checked my last EJ statements. My account closure fees were applied the day the transfer of assets began. Congrats on the progress you've made so far Where do the account closu...
by smsdad
Fri Jul 07, 2017 8:18 am
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

Nearly everything has now transferred over to Vanguard now. There is only a few hundred dollars left at EJ in the tIRA in 9 left over Mutual funds plus $40 in cash. The rIRA just shows another $40 in cash. There is a joint account with only $0.70 in it(yes, that's 70 cents).

Now, it may be that the whole process is not yet completed and I am jumping the gun in expecting everything to have transferred over but I did receive the mail stating that the transfer process had completed. So, it's left me wondering what to do about the left overs at EJ. Is EJ holding back this money to pay for the account closure fees, I wonder...?
by smsdad
Wed Jun 28, 2017 4:36 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

OK, started the ball rolling today. Wish me luck!
by smsdad
Tue Jun 27, 2017 10:06 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

Another question - ok maybe two or three.. For those that have gone this route before, what did it do to your tax situation that next tax season? Will it be like EJ in that everything just gets reinvested into itself and I never see any real gains from it? So as far as the tax man goes, that money doesn't really count... yet ? If dividends are not reinvested automatically, what happens to that money? Also, do I try to keep the same sort of accounts at Vanguard, the Roth and Traditional (there is a cash account, but it only has $0.70 in it)with the same sort of split between the two? Or is this the time to move some of the traditional into the Roth? I suspect there could be tax penalties for that, though, correct? Sorry for what are certainl...
by smsdad
Tue Jun 27, 2017 9:32 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

If you want to sell the individual stocks, ask each custodian (or look it up online) what the cost is to sell them. If there is a charge at VG, ask if they will give you enough free trades to move into their funds. Then decide
They did mention that there was a $7 per stock fee to sell them, which is mentioned in this link here: https://investor.vanguard.com/investing ... ns?lang=en.. That $7 is dependent on making that transaction online, though. By phone, it jumps to $25 per.

I will see, since we're only talking 9 stocks, if they will waive the fees for those.
by smsdad
Tue Jun 27, 2017 6:47 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

I'm not really worried about the fees to close. I only have three accounts with them. What was the fee? Like $95 each account or something? Nothing compared to what in will save in other fees NOT paid to them.

For my individual stocks, should I keep them at VG or go ahead, bring them over then put into cash, then into a fund?
by smsdad
Tue Jun 27, 2017 2:43 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

I heard back from VG this morning and they say of the funds that are in the clutches of EJ, only the Roth fund will incur a transaction fee. The rest in the traditional IRA will not have any transaction fees.

I asked him(this has been through email) if this meant that there will be no fees, either from EJ or Vanguard, to bring the funds over and if the fee he mentioned about the Roth fund was the only one.

Waiting for a response from him, now.
by smsdad
Tue Jun 27, 2017 11:13 am
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

I've engaged with one of their advisors and sent him the list of EJ funds. He is going to take a look and see what will carry over in kind, if any, and sketch out for me what the next steps will be. I haven't officially pulled the trigger on the move yet as I wanted to get a better understanding of what all of that would entail before I sign on the proverbial dotted line with Vanguard.
by smsdad
Mon Jun 26, 2017 10:19 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Re: Making the jump from Edward Jones

Thank you dwickenh, I didn't see the right way to post until after I posted so I apologize for the misstep. I'll try to expound. Emergency funds: Probably only about a month or so Debt: Only mortage (3.75%) $825/mo w/<80k left. Tax Filing Status: Married Filing Jointly State of Residence: Washington Age: 51 Desired Asset allocation: Unsure, problably 70/30...60/40 ?? Desired International allocation: Not sure About 411k with traditional IRA, about $8500 with Roth $200/mo going into current EJ Roth. No contributions to Traditional IRA, just dividend re-investment. Around 9% of income going into work 457 plan Some % goes into State retirement plan, but unsure at the moment how much. Single-income, stable job. Wife is stay-at-home with disable...
by smsdad
Mon Jun 26, 2017 8:31 pm
Forum: Personal Investments
Topic: Making the jump from Edward Jones
Replies: 41
Views: 4750

Making the jump from Edward Jones

Greetings, I am probably gong to be making the jump from EJ here soon. Wife and I have been there since about 2012. After reading many topics on this site and reading the Boglehead Investment book, I think it is time to say adios to them. Besides, they are calling the house trying to set up a quick appointment (our usual once-a-year is in December) and I suspect it has to do with the Fiduciary changes coming up. I started talks with a Vanguard advisor today and have given them what funds I have over at EJ. We currently have about 420k there, mostly in a traditional IRA and about $8500 in a Roth. I was probably going to just try to move everything into a TRF, probably the 2030 or 2035 since I am 51 now. I figured that will be easiest just to...