A while back I told you I dumped Edward Jones for Vanguard. So far I couldn't be happier (well, I could be if the market was down so much, but that just means I can buy more right?). A recent problem with Edward Jones convinced me that I made the right move.
I logged onto the Edward Jones site looking for my last statements. Guess What? All the statements and account info were gone. That's right, deleted like they never existed.
Now this is a major annoyance. I've already paid my fees to Edward Jones for the year. The cost to keep my statements up would have been a few cents if anything. So why do they do that?
Never ascribe to malice that which is adequately explained by incompetence.
- Napoleon Bonaparte.
I left Edward Jones for several reasons. The first was the ridiculous fees they charge. I really have no need for a full service broker to manage my retirement accounts. As the recent downturn in the market has shown, financial planners/advisors, aren't any better, and usually worse, at picking winning stock investments.
The second reason I left is the atrocious online access. Edward Jones just recently offered the ability to switch to electronic statements. Edward Jones cut down whole forests to send out their junk mail. I think I recieved something from them at least every 2 weeks. That's ridiculous in this day and age
It just shows that Edward Jones is a company that caters to old people. Not that there is anything wrong with that, it just doesn't appeal to me. I don't need to go meet with someone every month to review my finances.
So when I logged into get my final statements, I found no statements available. What a joke. After all the money I've paid Edward Jones, they didn't have the courtesy to leave my statements online.
I could say Edward Jones did it on purpose, but I'm guessing it's incompetence. Their system just automatically removes the statements from online access once you close your account.
This is a good lesson. Get all the paperwork and statements you need from a company before you close your account. In my case, I had everything, I just wanted my last statement. Because I signed up for email delivery, this was the only way I could have received my statement.
Oh well, I'm just glad to be done with Edward Jones.
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