Have you ever use Edward Jones investiment services?

Question

Have you ever use Edward Jones investiment services?

Answer 1

Yes, and lost approximately 30%.  I did a bit of research after that and found out that they hire people with no background in investing.  In my area, the 'investment representatives' (IR) had various backgrounds.  One had been a magician at childrens' birthday parties, one was a social worker, etc.  Edward Jones has a research department which decides which stocks they should be selling.  However, some of the IRs do not sell stocks as they do not know anything about them,  Some will only sell mutual funds.  Mutual fund representatives will regularly call on them and the IR buys based on the gifts that the reps give them.  If one rep gives them hockey tickets, that is the rep they will buy from.

An "investment representative" is just that.  He/she represents any stock, bond or mutual fund.  They may have no specific training in how to choose which they should sell to you.  

Their minimum charge to sell you a stock is $75 plus a percentage of the total amount.  They will charge you at least as much again when they sell that stock.  There are many websites that give you more information about stocks and allow you to buy and sell for less than $10,  They also charge you an administration fee for any type of registered account.  

There are many places where you can speak to an advisor who has a background in finance and has specialized training in mutual funds and stocks who do not charge you as much and are better qualified.  Try speaking to the investment advisor at a bank that you deal with.  That would be a good start