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Old 01-04-2020, 09:17 PM
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Default Financial Advisor

I have all of my money with an Edward Jones financial advisor, that my wife has had for the last 15 years (pre marriage). In September of 2018 I transferred all of my money to him and told him I wanted it in a low risk investment and he literally laughed at me. I explained that I thought we were at a good place to hit pause. Against my better judgment I listened to him and lost a lot of money when January 2019 came.

Now the market has returned my losses and I am ready to hit pause again.

I contacted my advisor and have had no response. I looked at his website tonight and see he is only open half the week- 24 hours a week. Upon seeing this i lost it and told him my money wasn't a part time gig. Still no response.

My view is the guy is a mouth piece for Edward jones and he knows nothing more than what the screen tells him to say to clients. My brother in law is a financial advisor and doesn't have a pot to piss in. Anyone feel differently?

I'd like an avenue to manage my own investments. This is all 401k... I appreciate any advice.
Old 01-04-2020, 09:25 PM
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You need a proper asset allocation based on the age you plan to retire. Set it and forget it. Don’t try to time the market or “pause” investing.


Old 01-04-2020, 09:27 PM
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My opinion of these people is the old adage "If they are so smart why aren't they rich?".
Why are they "playing with" your money if they know how to make it grow?
Old 01-04-2020, 09:31 PM
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Lost money in January 2019 😂😂😂😂. Honestly, a typical stance from a retail investor. You don’t consider what your money did from Sept 2018 and of course the rest of the 2019.... the markets crushed it.

Old 01-04-2020, 09:32 PM
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Bogleheads.org

Bogleheads guide to the three fund portfolio. Adjust as needed based on age and risk tolerance.

Set and forget. Low fees. No advisors.

None of this pausing business.
Old 01-04-2020, 10:57 PM
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Originally Posted by GRSC View Post
Lost money in January 2019 😂😂😂😂. Honestly, a typical stance from a retail investor. You don’t consider what your money did from Sept 2018 and of course the rest of the 2019.... the markets crushed it.

Fidelity Contra was over 14 in Sept 18, hasn't broken that since. VEIPX and VIPSX are also down since 9/18. Those are three of the nine options my 404c offers. Crushing works both ways sometimes.
Old 01-05-2020, 01:37 AM
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Originally Posted by NCSUboater View Post
Bogleheads.org

Bogleheads guide to the three fund portfolio. Adjust as needed based on age and risk tolerance.

Set and forget. Low fees. No advisors.

None of this pausing business.
This is the advice I follow and it has worked well for me.
Old 01-05-2020, 05:37 AM
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Timing is everything
Old 01-05-2020, 05:41 AM
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Time in the market NOT timing the market.
Old 01-05-2020, 06:19 AM
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Go to Vanguard, open an account, fill out the short and simple forms to transfer your accounts from EJ to VG. The money will be moved before your EJ guy even knows. Bet he calls you then.

Once funds are transferred move it to the prime money market fund at VG. Get close to 2% while you educate yourself (Bogleheads as mentioned above). Invest as you see fit and on your own time frame.

Most assets will transfer in like kind and then you can sell them as you see fit and depending on your taxes etc.

Last edited by fish_on; 01-05-2020 at 06:31 AM.
Old 01-05-2020, 06:29 AM
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This...
Old 01-05-2020, 06:38 AM
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Whats the track record of your wifes account ?
You failed to mention that , is she making money ?
My opinion is set and forget , for the most part .
Never have I hit the pause button .
Old 01-05-2020, 06:41 AM
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I do have the Vanguard S&P Index fund but also use Schwab only because of their ATM card which is a must have if you travel a lot overseas.

If doing the simple ‘3 fund’ thing then:

Schwab Total Stock Market Index (SWTSX)
Schwab International Index (SWISX)
Schwab U.S. Aggregate Bond Index Fund (SWAGX)

As mentioned in the other thread I recently paused new monthly contributions but each their own.
Old 01-05-2020, 09:49 AM
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My cousin's son is a "financial advisor" at Edward Jones. The company takes him and his wife all over the country to the fanciest resorts and ski mountains for meetings. They like for their employees to be very active in their community and visible at every athletic competition--like coaching Little League baseball. They're seen in the busiest restaurants every Saturday night. Ole Joe lived in a magnificent home, but he built an even more substantial home. Edward Jones has a reputation for having "Show Dogs" for salesmen--needless to say.

My ex-MegaCorp was a huge Fidelity customer, and all of my business remains there after 11 years of retirement. They have a great computer system, and it's all up to me to make changes and order withdrawals just about overnight. I study all their account information online myself, and make my own decisions without paying big commissions.
Old 01-05-2020, 10:21 AM
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Absolute first thing to do is to get your money out of EJ and away from your ‘advisor’.
If the post above about seamless transfer to Vanguard is correct, I’d do that now, even if into an age based or balanced fund until you make a plan.
Old 01-05-2020, 10:33 AM
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You lose more returns to paying an advisor than by doing it yourself, if you have some basic financial understanding. Those advisor fees will kill you over time.
Old 01-05-2020, 10:35 AM
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And I would disregard the advice above about age-balanced funds. The reason is complex but in sum it's because those funds mix equity with fixed income (bonds) to achieve a model allocation for your age. However that model allocation fails to take into account cash, deposits, bonds and other assets you have elsewhere so you always have too much fixed income relative to equities when you choose a balanced fund.
Old 01-05-2020, 11:14 AM
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Originally Posted by C3D View Post
And I would disregard the advice above about age-balanced funds. The reason is complex but in sum it's because those funds mix equity with fixed income (bonds) to achieve a model allocation for your age. However that model allocation fails to take into account cash, deposits, bonds and other assets you have elsewhere so you always have too much fixed income relative to equities when you choose a balanced fund.
Recommended as a place to put funds
now, today, asap, until he has time to research.
Old 01-05-2020, 11:28 AM
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Originally Posted by BLUESMAN View Post
Recommended as a place to put funds
now, today, asap, until he has time to research.

Ok, that’s a fair point, but I might suggest the OP deduct 10 years from his calendar age when choosing the target date of the fund.


But to the OP, since it is a retirement account and you won’t have capital gains tax if you reallocate positions, I would suggest you focus on a portfolio with your desired equity:fixed income:alternatives mix and then find the lowest cost ETFs that will deliver that allocation.
Old 01-05-2020, 11:37 AM
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