Hi again, Lulie,

How are things?

At an investment group that I've attended pretty well monthly for several years (subscribers to an ad-free money management magazine), the subject of Edward Jones came up a while ago.

Not much was said, but I think that an opinion was expressed that the local franchisees (and they are usually small offices) are not inclined to offer many investment suggestions originated by themselves, but pretty well accept the recommendations generated by head office.

As with using any financial advisor, it's important to scope out not only the level of training and experience in the financial industry that the person has, but experience of life, general outlook, etc.

It's important that one feel really compatible with one's financial advisor, for most investors carry on a very close relationship with theirs, over a long term.

It's important to learn how the person is compensated, as well.

Quite often, if one has a substantial level of financial knowledge, financial transactions when investing can be completed through a discount brokerage system, where transaction fees are much lower - but they don't offer any financial advice, either.

I've said to many during my twenty years as an advisor that no one cares as much about your money as you (except some folks that would like to transfer [some of?] yours from your pocket into theirs), so it's important that folks learn how to manage money.

Some (including a psychiatrist who wondered a few years ago whether he could retire early) say that it's too complicated - but I say that when Mom buys a loaf af bread and puts a few slices on the table for supper, if young Jimmy, having been running around all afternoon, so arriving famished at the table, stuffs a whole slice into his mouth at once ... he has a problem. But munching through bread a bite at a time ... before long, the whole loaf has been transferred from the bag that came from the store into my stomach, whith no blockqqqages along the way.

Same with learning about money - take it a few steps at a time.

Don't let it intimidate you - and don't let the practitioners do that, either.

Have a great week - learning more about how to manage your money effectively.

ole joyful

I'm very suspicious. there's an Edward Jones office in my town, Kings Park NY. I walked by there today and they recently closed.

I'm not a big Ed Jones fan either...Feel they are making money at my expence...pay them to buy something...pay them to sell something.

They sold an annuity to a friend of mine, and my friend did not understand the ins and outs of it at the time. After holding it several years, he got out of it, and took the money and invested it some other way.

I have investments through Hilliard Lyons and Fidelity, and am considering starting an account with Scottrade, and doing a little buying and selling on my own.

Sue

After much research, we found a financial planning outfit that is fee-based. They don't make their money by buying and selling stocks and mutual funds for you. They have given us an intense view of our money, and I feel the returns are on the whole pretty good. They aim for 6% growth a year, but in the 3 years we've used them, it's been more than that. I still invest on my own, a bit, and buy stocks in companies that allow the automatic reinvestment of dividends. That way, I am always buying more stock. On the whole "my" money has done much better than what they hold for me, but I'm not nearly as diversified on my own as I am with them, and that makes me uneasy as we near retirement. My advice is to find a fee-based advisor, and to get recommendations from friends, accountants, and so forth.

whether you decide to invest with Edward Jones or not, its best to shop around and consult with other advisors. http://www.leadsco.ca matches financial advisors with clients who are looking to invest or are simply curious as to what to do with there investments and want some questions answered. The finacial advisors are always willing to meet at a time that is convenient for you. Also because http://www.leadsco.ca has a wide network of advisors, they can ensure that you can find the proper fit regarding you financial advisor by providing more alternatives to one firm to meet with!

Thanks for all the good comments/advice. We had been pleased with Edward Jones, but our financial advisor recently left Edward Jones for another company and we followed him. So far, I check our portfolio just about every day and we're pleased.
Lu

My husband and I are very pleased with our Edward Jones rep. She is extremely knowledgeable and answers our questions to our satisfaction. We have our 529 and mutual funds with Susan. She recommends funds and if we agree after checking them out then we go with it. She doesn't get bent out of shape if we don't. She likes the fact that her clients do their own research and keep on top of things. Hubby was just in to see her a few weeks ago to take advantage of the drop in the market. We have been very pleased with her handling of our funds. NancyLouise