Moving from Fidelity to Edward Jones

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Creditcardguy
Posts: 62
Joined: Fri May 25, 2018 7:23 am

Moving from Fidelity to Edward Jones

Post by Creditcardguy » Tue Feb 26, 2019 9:40 pm

Just kidding, but I've never seen this topic come up!! :mrgreen:

Actually, I just saw the light and moved my 4 EJ accounts to Fidelity, after 12 faithful years with my good buddy edwardjonesguy. I even let him talk me out of it last summer, with some very pretty charts and graphs, but the index has outperformed my EJ accounts since then and I pulled the trigger. My loyalty to edwardjonesguy cost me several grand. :oops: In return, my friendly, neighborly edwardjonesguy charged me on the way out the door, $195, $195, $135, $135. Gee thanks. :annoyed

Thought I'd share. Everyone have a great evening. :sharebeer

creditcardguy

Dottie57
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Re: Moving from Fidelity to Edward Jones

Post by Dottie57 » Tue Feb 26, 2019 9:45 pm

The charges are now in the past. Now with Fidelity , please, only use their index funds. The word “index” should be in the name of the fund. The FA’s hav been fine for me, but still be aware that they too need to earn a living: Beware!

Good luck and good BH investing strategy!

sarabayo
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Joined: Fri Jun 29, 2018 6:59 pm

Re: Moving from Fidelity to Edward Jones

Post by sarabayo » Tue Feb 26, 2019 9:58 pm

Dottie57 wrote:
Tue Feb 26, 2019 9:45 pm
The charges are now in the past. Now with Fidelity , please, only use their index funds. The word “index” should be in the name of the fund. The FA’s hav been fine for me, but still be aware that they too need to earn a living: Beware!
Even Fidelity's active funds are far preferable to EJ's nonsense, since all of Fidelity's funds have no transaction fee and no load, as I understand it. Of course, Fidelity's index funds are the better choice :)

Congrats to OP on leaving EJ.

averagedude
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Re: Moving from Fidelity to Edward Jones

Post by averagedude » Tue Feb 26, 2019 9:59 pm

With friends like this, i hope you have no enemies.

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dwickenh
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Re: Moving from Fidelity to Edward Jones

Post by dwickenh » Tue Feb 26, 2019 9:59 pm

Slick Eddie is gonna miss you(and your monies). Good decision to move to a low cost provider. Just don't forget why you moved there when or if they attempt to up sell you on some managed funds.
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

HomeStretch
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Re: Moving from Fidelity to Edward Jones

Post by HomeStretch » Tue Feb 26, 2019 11:14 pm

Creditcardguy wrote:
Tue Feb 26, 2019 9:40 pm
...my friendly, neighborly edwardjonesguy charged me on the way out the door, $195, $195, $135, $135. Gee thanks. :annoyed

creditcardguy
Ask Fidelity if they will reimburse you for the EJ transfer fees.

yogesh
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Re: Moving from Fidelity to Edward Jones

Post by yogesh » Tue Feb 26, 2019 11:23 pm

Robo advisors is future!
Emergency: FDIC | Taxable: VTMFX | Retirement: TR2040

Topic Author
Creditcardguy
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Joined: Fri May 25, 2018 7:23 am

Re: Moving from Fidelity to Edward Jones

Post by Creditcardguy » Tue Feb 26, 2019 11:28 pm

Thanks. I found Bogleheads last May and set up my self employed 401k with the 3 fund portfolio in June. My mistake was leaving the EJ stuff alone. Fidelity will reimburse the fees after the transfer is complete, 2 are still pending. If my American Funds were less than a year old they would have tacked on 1%, which Fidelity understandably would not pay. But they’re not.

I was just wondering how many people move from Vanguard or Fidelity to Edward Jones? Not many.

Better late than never. :D

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PalmQueen
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Re: Moving from Fidelity to Edward Jones

Post by PalmQueen » Wed Feb 27, 2019 12:04 am

Prize-worthy subject line.
This is the 8th response but over 700 people read your post in just 2 hours.

Thanks for your post with hard numbers to back up a good decision.

BusterMcTaco
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Re: Moving from Fidelity to Edward Jones

Post by BusterMcTaco » Wed Feb 27, 2019 12:19 am

I came here with popcorn in hand. I am disappointed.

RetiredCSProf
Posts: 303
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Re: Moving from Fidelity to Edward Jones

Post by RetiredCSProf » Wed Feb 27, 2019 12:34 am

The subject line grabbed me in. A friendly Edward Jones guy moved into my neighborhood a few months ago. I think I was outside working on my yard when he first approached me. He keeps dropping by to chat -- brought me homemade cookies on a rainy Valentine's Day. So far, he's not been pushy at all. I guess this is the way they get their foot in the door. I started with Fidelity over 30 years ago ... I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.

TropikThunder
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Re: Moving from Fidelity to Edward Jones

Post by TropikThunder » Wed Feb 27, 2019 1:06 am

RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
The subject line grabbed me in. A friendly Edward Jones guy moved into my neighborhood a few months ago. I think I was outside working on my yard when he first approached me. He keeps dropping by to chat -- brought me homemade cookies on a rainy Valentine's Day. So far, he's not been pushy at all. I guess this is the way they get their foot in the door. I started with Fidelity over 30 years ago ... I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
There's no such thing as a free cookie .... :P

Goal33
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Re: Moving from Fidelity to Edward Jones

Post by Goal33 » Wed Feb 27, 2019 1:14 am

RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
The subject line grabbed me in. A friendly Edward Jones guy moved into my neighborhood a few months ago. I think I was outside working on my yard when he first approached me. He keeps dropping by to chat -- brought me homemade cookies on a rainy Valentine's Day. So far, he's not been pushy at all. I guess this is the way they get their foot in the door. I started with Fidelity over 30 years ago ... I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
Maybe he’s just the IT guy.
A man with one watch always knows what time it is; a man with two watches is never sure.

sarabayo
Posts: 348
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Re: Moving from Fidelity to Edward Jones

Post by sarabayo » Wed Feb 27, 2019 1:31 am

RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
If he's telling you the truth, you shouldn't push him away since he's just a friendly neighbor.

If he's lying and has ulterior motives, you still shouldn't push him away, because what better way to get back at him than to make him waste his time buttering you up? :wink: You're even getting free food out of it!

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Stinky
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Re: Moving from Fidelity to Edward Jones

Post by Stinky » Wed Feb 27, 2019 6:02 am

Creditcardguy wrote:
Tue Feb 26, 2019 11:28 pm
Thanks. I found Bogleheads last May and set up my self employed 401k with the 3 fund portfolio in June. My mistake was leaving the EJ stuff alone. Fidelity will reimburse the fees after the transfer is complete, 2 are still pending. If my American Funds were less than a year old they would have tacked on 1%, which Fidelity understandably would not pay. But they’re not.

I was just wondering how many people move from Vanguard or Fidelity to Edward Jones? Not many.

Better late than never. :D
Welcome to the Bogleheads.

Love your story of discovery! Glad that you saw the light - better late than never.
It's a GREAT day to be alive - Travis Tritt

Mr.BB
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Re: Moving from Fidelity to Edward Jones

Post by Mr.BB » Wed Feb 27, 2019 6:30 am

TropikThunder wrote:
Wed Feb 27, 2019 1:06 am
RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
The subject line grabbed me in. A friendly Edward Jones guy moved into my neighborhood a few months ago. I think I was outside working on my yard when he first approached me. He keeps dropping by to chat -- brought me homemade cookies on a rainy Valentine's Day. So far, he's not been pushy at all. I guess this is the way they get their foot in the door. I started with Fidelity over 30 years ago ... I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
There's no such thing as a free cookie .... :P
+1
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

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ruralavalon
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Location: Illinois

Re: Moving from Fidelity to Edward Jones

Post by ruralavalon » Wed Feb 27, 2019 8:28 am

Creditcardguy wrote:
Tue Feb 26, 2019 9:40 pm
Just kidding, but I've never seen this topic come up!! :mrgreen:

Actually, I just saw the light and moved my 4 EJ accounts to Fidelity, after 12 faithful years with my good buddy edwardjonesguy. I even let him talk me out of it last summer, with some very pretty charts and graphs, but the index has outperformed my EJ accounts since then and I pulled the trigger. My loyalty to edwardjonesguy cost me several grand. :oops: In return, my friendly, neighborly edwardjonesguy charged me on the way out the door, $195, $195, $135, $135. Gee thanks. :annoyed

Thought I'd share. Everyone have a great evening. :sharebeer

creditcardguy
Good move, congratulations.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

bampf
Posts: 403
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Re: Moving from Fidelity to Edward Jones

Post by bampf » Wed Feb 27, 2019 8:40 am

Creditcardguy wrote:
Tue Feb 26, 2019 9:40 pm
Just kidding, but I've never seen this topic come up!! :mrgreen:

Actually, I just saw the light and moved my 4 EJ accounts to Fidelity, after 12 faithful years with my good buddy edwardjonesguy. I even let him talk me out of it last summer, with some very pretty charts and graphs, but the index has outperformed my EJ accounts since then and I pulled the trigger. My loyalty to edwardjonesguy cost me several grand. :oops: In return, my friendly, neighborly edwardjonesguy charged me on the way out the door, $195, $195, $135, $135. Gee thanks. :annoyed

Thought I'd share. Everyone have a great evening. :sharebeer

creditcardguy
I, unlike others, am not excited by clickbait and trolling. Its really just bad manners to lure someone into a post with a false or misleading title. You don't have my thanks.

mtmingus
Posts: 288
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Re: Moving from Fidelity to Edward Jones

Post by mtmingus » Wed Feb 27, 2019 8:40 am

HomeStretch wrote:
Tue Feb 26, 2019 11:14 pm
Creditcardguy wrote:
Tue Feb 26, 2019 9:40 pm
...my friendly, neighborly edwardjonesguy charged me on the way out the door, $195, $195, $135, $135. Gee thanks. :annoyed

creditcardguy
Ask Fidelity if they will reimburse you for the EJ transfer fees.
Fido has No transfer credit currently but free trade offers - you need to ask!

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wander
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Re: Moving from Fidelity to Edward Jones

Post by wander » Wed Feb 27, 2019 9:08 am

Op, when I read your thread, I thought you were doing the opposite.

Topic Author
Creditcardguy
Posts: 62
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Re: Moving from Fidelity to Edward Jones

Post by Creditcardguy » Wed Feb 27, 2019 9:12 am

I apologize if my misleading thread title offended anyone. I wanted to share my experience moving my funds to Fidelity, perhaps it will help someone that finds themselves in a similar situation. I tracked my results since June, to the best of my ability, and the difference was about 6% (EJ -2.5%, Fidelity +3.5%). Fidelity is reimbursing my EJ transfer fees, along with 500 free trades.

The thought of the thread title made me laugh out loud, why would anyone in their right mind go back to EJ? Also, I have an odd sense of humor. :mrgreen:

Sincerely,

creditcardguy

bltn
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Joined: Mon Feb 20, 2017 9:32 pm

Re: Moving from Fidelity to Edward Jones

Post by bltn » Wed Feb 27, 2019 9:43 am

Stinky wrote:
Wed Feb 27, 2019 6:02 am
Creditcardguy wrote:
Tue Feb 26, 2019 11:28 pm
Thanks. I found Bogleheads last May and set up my self employed 401k with the 3 fund portfolio in June. My mistake was leaving the EJ stuff alone. Fidelity will reimburse the fees after the transfer is complete, 2 are still pending. If my American Funds were less than a year old they would have tacked on 1%, which Fidelity understandably would not pay. But they’re not.

I was just wondering how many people move from Vanguard or Fidelity to Edward Jones? Not many.

Better late than never. :D
Welcome to the Bogleheads.

Love your story of discovery! Glad that you saw the light - better late than never.
Agree. Many of us had to learn through experience the most efficient ways to accumulate wealth.
Definitely, better late than never.

I m trying to help my kids get an early start.

newtonc
Posts: 78
Joined: Fri Jul 13, 2012 4:56 pm

Re: Moving from Fidelity to Edward Jones

Post by newtonc » Wed Feb 27, 2019 10:22 am

I have an account with Fidelity and am very happy with them. Congratulations on the move from EJ to Fidelity and on Fidelity reimbursing the EJ transfer fees.
Have Fidelity and tiaa-cref through my 403(b) retirement at work and like them both!

CurlyDave
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Joined: Thu Jul 28, 2016 11:37 am

Re: Moving from Fidelity to Edward Jones

Post by CurlyDave » Wed Feb 27, 2019 10:53 am

RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
The subject line grabbed me in. A friendly Edward Jones guy moved into my neighborhood a few months ago. I think I was outside working on my yard when he first approached me. He keeps dropping by to chat -- brought me homemade cookies on a rainy Valentine's Day. So far, he's not been pushy at all. I guess this is the way they get their foot in the door. I started with Fidelity over 30 years ago ... I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
The last time something similar happened to me, I was working on my car out in the driveway. I crawled out from under it with greasy coveralls and a large, greasy Crescent wrench in my hand.

As soon as I realized where he was from I told him I was not interested and emphasized the point by rather forcefully waving the wrench around. Not at him, but emphasizing my points by using it as a gavel.

He never came back.

CurlyDave
Posts: 1439
Joined: Thu Jul 28, 2016 11:37 am

Re: Moving from Fidelity to Edward Jones

Post by CurlyDave » Wed Feb 27, 2019 10:56 am

sarabayo wrote:
Wed Feb 27, 2019 1:31 am
RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
If he's telling you the truth, you shouldn't push him away since he's just a friendly neighbor.

If he's lying and has ulterior motives, you still shouldn't push him away, because what better way to get back at him than to make him waste his time buttering you up? :wink: You're even getting free food out of it!
My leisure time has value. A lot more value than a couple cookies from an EJ guy.

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ruralavalon
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Location: Illinois

Re: Moving from Fidelity to Edward Jones

Post by ruralavalon » Wed Feb 27, 2019 11:57 am

CurlyDave wrote:
Wed Feb 27, 2019 10:56 am
sarabayo wrote:
Wed Feb 27, 2019 1:31 am
RetiredCSProf wrote:
Wed Feb 27, 2019 12:34 am
I keep thinking I should tell the EJ guy to move on, but he insists he's not selling anything.
If he's telling you the truth, you shouldn't push him away since he's just a friendly neighbor.

If he's lying and has ulterior motives, you still shouldn't push him away, because what better way to get back at him than to make him waste his time buttering you up? :wink: You're even getting free food out of it!
My leisure time has value. A lot more value than a couple cookies from an EJ guy.
I make a point to get along with neighbors, even ones I dislike. I would take the cookie, say thank you, and not even discuss investing with the EJ guy.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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LadyGeek
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Re: Moving from Fidelity to Edward Jones

Post by LadyGeek » Wed Feb 27, 2019 4:01 pm

This thread has run its course and is locked (not actionable). General comments (and complaints) are off topic in the forums with "Personal" in the title. See: A reminder that non-investing general comment threads are OT
- It must be personal. In other words, you must be asking about your own situation. You can also ask on behalf of someone specific, such as a family member.

- It must be actionable. You must be able to do something specific with the replies that will make a difference in your situation.
If you have a specific question, please ask directly and provide sufficient information for members to supply appropriate advice.
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