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Fiduciary vs Edward Jones

By Terry Savage on April 29, 2024 | Financial Planning / Retirement

We have had Edward Jones for many years. Our agent is retiring so I was wondering about changing to a fiduciary. we are both in early 80 s. Is it costly to change? Thanks for your thoughts.

Terry Says

You had a brokerage accout — and paid commissions over the years, and possibly an annual management fee.  Brokers are not overall financial advisors (typically) and so now you should consider someone you can TRUST, who will not only review your investments, but offer advice about taxes, estate planning, income withdrawals to last your lifetime, etc.

For that you need a FEE-ONLY FIDUCIARY advisor.  I don’t recommend individual advisors, but i do always suggest you consult WEALTHRAMP to find one!  Read this:  Pam Krueger Wealthramp – Terry Savage

She will connect you to one or two advisors that she has carefully reviewed, who are indeed fiduciaries.  Have a meeting with them.  You’ll see if you connect.  These advisors should set up an introductory meeting at no charge, describe their duties, ask you questions about your situation.  And tell you how their fee structure works.  Then you can decide ifyou want to proceed.

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