How much does a financial advisor cost?
What is the difference between a financial planner and a financial advisor?
What does a financial advisor do?
We currently have 1.25m with Edward Jones in a variety of funds, bonds, and HYSA.
The reporting we see from the website makes it difficult to identify our true cost, as a couple of our accounts with several hundred thousand say zero fees. We trust our advisor but she sent a report saying our total fees & commissions were $1200 for the year. This can't be right.
We have historically trusted the advisor, but if we only have $1200 in fees, something doesn't add up, especially since most say EJ fees are much higher than others.
It may be time to move on but we don't feel savvy investing on our own. I've read that Fidelity and Schwab have fewer fees and we're thinking about moving, but also scared to lose the stability of a personal advisor.
We'd love your advice!