Monday, October 26, 2009

Edward Jones - 10/26/09

I have my meager IRA in an Edward Jones account. I have been with them for ten years or so. I have had no major issues with Edward Jones, though I have never met him. My financial advisor is Shaun Walsh. I like Shaun, he has an engaging personality. He is nice to me. I have no misconceptions. He is nice to me just like the girls at Hooters are nice to me. His amiability is proportionate to the size of my account just as the Hooters girl’s affinity is related to my tipping history. If I had a few million invested instead of a few thousand, he would be a friend with benefits.

My reason for this installment has nothing to do with Shaun; it is directed at that prick, Edward Jones. Like every other investor, my balance has shrunk drastically in the last couple of years. It is attempting a feeble comeback as of late, but I am still not back to my initial investment. I have lost thousands, where there are not too many thousands to lose. My complaint is that in this horribly uncertain market, Ed has elected to raise the fee for maintaining my account. What this says to me as an investor is that though all his clients are losing money hand over fist, Eddie is not willing to share that loss. He has picked this point in time to raise his profits at our expense. It is not a huge increase, but spread over millions of clients, it is significant. I do not know if all brokers are displaying this level of greed, but I expect as much. You might want to check your statements.

I have a new, more appropriate slogan for this economy: "Turning Dollars Into Cents."

5 comments:

sandy said...

agreed

Roger said...

Edward Jones, Raymond James - what's the difference!

myrtle beached whale said...

I guess the biggest difference for me is that I have heard of Edward Jones.

Skittles said...

Thanks for playing HoT all this time. I'll try to get it going again asap.

Go Figure said...

Whale: The basic premise of the 'trickle down' theory is that all the water is still at the top. Go Figure