How much will financial advisor make on 13k?

Question

I have talked to an old friend that is works for Edward Jones about rolling a 401k to an IRA with 13,000 dollars.

Now, I am not sure I like Edward Jones and I have been not answering his calls while I think of what I want to do. This guy calls 4 times a day. Feels like he is too desberate for my business. How much commision does he stand to make if I go with his company.

Answer 1

What he makes should not be a concern of yours, you should be considering if can really help you.

On 13,000 he's not going to make that much money, (maybe $250 if that) and an account with that much is not worth chasing after, maybe he really wants to help you.

If you don't trust the people you do business with, don't do business with them

Answer 2

I don't know what he earns but let's address the real issue here:  What is best for YOU?

You need to roll your IRA to a company with low fees and no sales charges.  For this, you have several good choices.  My favorite is Vanguard because they are conservative and reliable with excellent customer service, but I understand Fidelity and T. Rowe Price are also good and there are probably several others.

Wherever you decide to place your funds, consider a Target Retirement fund based on the year you expect to retire (5-year intervals).  This fund will gradually become more conservative as you grow older and will be balanced with domestic stocks, both large and small, bonds and international holdings.

Good luck!