How safe is your money at Edward Jones?
Edward Jones provides account protection for your securities, except annuities and insurance, held in your brokerage account. The Securities Investor Protection Corporation (SIPC) provides $500,000 of coverage for missing securities, including $250,000 for claims of cash awaiting reinvestment.
Earnings and revenue
Edward Jones' net income in 2023 was $1.61 billion, up 15% from the $1.4 billion it earned in 2022. The firm's total net revenue in 2023 was $13.8 billion, up from $12.27 billion in 2022 — a 12% jump.
If Edward Jones experiences financial difficulties, the Securities Investor Protection Corporation (SIPC) protects securities and cash in your account. To obtain information about SIPC coverage, visit www.sipc.org or call (202) 371-3800.
Edward Jones will act as your agent with respect to the Deposit Accounts by making all deposits and withdrawals for you. As described above, the FDIC insurance limit is $250,000 per Bank for each insurable capacity.
Verdict — Is Edward Jones worth it? For the average investor, Edward Jones is probably not the best choice. You could spend more time learning about making investment decisions by yourself and choose a platform with lower fees.
All Edward Jones advisors are fiduciaries and are legally bound to act in their clients' best interests. However, Edward Jones is not worth the fees. The services provided by Edward Jones are quite basic, and most individuals can achieve similar results with minimal research and a little bit of know-how.
Why was Edward Jones Under Investigation? The recent Securities Exchange Commission (SEC) investigation into financial advisory firm Edward Jones centers around overcharging.
Important information: Certificates of deposit (CDs) are federally insured up to $250,000 (principal and interest accrued but not yet paid) per issuing institution. Please visit fdic.gov or contact your financial advisor for additional information.
Still, the FDIC itself doesn't have unlimited money. If enough banks flounder at once, it could deplete the fund that backstops deposits. However, experts say even in that event, bank patrons shouldn't worry about losing their FDIC-insured money.
Edward Jones serves as an investment advice fiduciary at the plan level and provides educational services at both the plan and participant levels, if applicable.
What is the penalty for taking money out of your Edward Jones account?
Any amount not rolled over by that date, including accrued interest, will typically be subject to taxes along with a 10% penalty if you're under age 59½.
Edward Jones invests and manages your account. Annual Program Fee of 1.35%, with lower tiers and reduced rates for higher asset levels. Annual Portfolio Strategy Fee of 0.09% or 0.19% depending on account type, with lower tiers and reduced rates for higher asset levels.
Simply call your financial advisor or transfer funds online through Online Access, and the transaction usually settles in one business day. Fees may apply. You save on postage, gas, checks and time.
For the 11th consecutive year, financial services firm Edward Jones appears on the Fortune 500® list. Edward Jones ranks No. 333, with more than $12.3 billion in net revenue for 2022. To be included in the Fortune 500®, companies are ranked by total revenue for their respective fiscal years.
All periods show annualized returns. All data is for the period ending 12/31/2022. Past performance is not a guarantee of future results. Since inception in January 1993, the Edward Jones Stock Focus List has provided an average annual total return of 9.6% compared to 9.5% for the S&P 500.
You have a dedicated Edward Jones team committed to fully understanding your financial picture before you make any decisions. We're thoughtful about our approach and how to align your goals with a custom financial strategy, so you can be confident you're on track for the future you see for yourself.
Your financial advisor generally receives between 36% and 40% of the compensation Edward Jones receives from asset-based fees, transactional revenue, ongoing 12b-1 fees, trail commissions and revenue from premiums generated by activity in your financial advisor's clients' accounts.
Edward Jones has been ranked Highest in Employee Advisor Satisfaction among Financial Investment Firms, 13 Times in a Row. Based on responses from Edward Jones financial advisors, the firm earned an overall score of 876 points out of 1,000.
However, distributions before age 59½ may be subject to a 10% early withdrawal penalty, in addition to regular income taxes, unless you qualify for a penalty exception. Distributions of after-tax contributions (non-deductible) aren't subject to taxes or penalties, since you've already paid taxes on those dollars.
Financial services firm Edward Jones has been named to Fortune® magazine's 2023 list of the World's Most Admired Companies, a recognition of the most respected and reputable companies globally. The firm ranked No. 5 in the Securities/Asset Management industry category.
Is Edward Jones owned by JP Morgan?
Edward D. Jones & Co., L.P. (“Edward Jones”) is a registered broker-dealer and investment adviser in the United States and is wholly owned by the Jones Financial Companies, L.L.L.P. (“JFC”).
ST. LOUIS, June 5, 2023 /PRNewswire/ -- For the 11th consecutive year, financial services firm Edward Jones appears on the Fortune 500® list. Edward Jones ranks No. 333, with more than $12.3 billion in net revenue for 2022.
If you buy a CD in a fee-based account, we will act as agent. You will not be charged a commission. The non-Edward Jones entity arranging for a CD to be offered may receive a fee from the CD issuer in connection with your CD purchase during the initial offering period.
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