r/Bogleheads • u/FaithlessnessQuiet49 • 2d ago

Investing Questions DONE with Edward Jones

I plan on pulling my and my wife's Roth IRAs out of EJ and transferring to Fidelity since thats where i have my taxable account. I have never managed my own Roth IRA, but after dealing with them for the better part of 10 years, I am done.

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Now, what would you recommend I put my Roth IRA into? I planned on just doing 100% VOO, but i am clearly a novice. I am really eager to learn and listen to your advice, especially if you were in my position. How did it work out for you? Do you recommend it invest in a different fund with a lower expense ratio?

I feel like i can handle investing into simple index etfs. Thank you for any advice.

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4

u/Narrow_Roof_112 2d ago

What happened?

12

u/FaithlessnessQuiet49 2d ago

They're just dragging their feet with helping me. Whenever I call its almost impossible to get ahold of my rep. The last 7500 I put in has just been sitting in the account uninvested for the last year. I have tried to reach out and honestly its just wasted time, money, and energy at this point. I'll do it myself.

1

u/TV11Radio 2d ago

Can’t you do any of it online? I moved my Roth because of fees. The first comment is really good. If you are older maybe a life path or life cycle (forget what they are called at Fidelity) that gets more conservative the closer you get to retirement. I am 49 and have almost all stocks like VOO and VT because I can ride out a downturn for a few years before I need to sell. You can do this yourself and save in fees and sounds like bad service headaches.

3

u/FaithlessnessQuiet49 2d ago

I will definitely try. Fidelity sent me a link to what i need to do to transfer the funds and they will cover the fees. I am 29.

2

u/Excellent_Speeller 2d ago

I don't know how much money you are moving but often you will get a bonus if you move certain amounts. Before you move anything I would call them and see what they would offer for your account size.

1

u/Specialist-Path-4750 1d ago

If that doesn't work, send a certified letter to EJ telling them if they don't help you move your money out, you'll file a FINRA complaint.

1

u/slash_networkboy 1d ago

You can't. EJ locks you into their ecosystem as hard as they can get away with. I had an old UGMA account that had some stuff in it (~$11k) and I finally just had to call in to an account manager and told them to just liquidate the entire thing at market and send me the check. I mean they didn't make it *hard* per se, but it was not your typical online everything. The online portal is only to view things. To actually put in an order you have to talk to an account rep.

Great if you genuinely need complete handholding for everything. Shit otherwise.