What Edward Jones Does

Edward Jones is a brokerage firm where you can open an investment account, buy and sell stocks and mutual funds, and work with a financial advisor in person at a local office. Unlike online-only brokerages, Edward Jones operates through branch locations staffed by advisors who meet with clients face-to-face. You can walk into an Edward Jones office, sit down with someone, and discuss what you want to invest in — they don't require you to manage everything through a website or app alone.

The firm is privately held and has been in business since 1922. It operates thousands of branch offices across the United States, Canada, and the United Kingdom. When you open an account with Edward Jones, you're assigned to a specific advisor at your local branch, and that same person typically handles your account going forward.

Key Takeaways

  • Edward Jones is a full-service brokerage where you meet with an advisor in person at a local branch office to discuss and manage investments.
  • You can buy individual stocks, mutual funds, bonds, and other securities through an Edward Jones account, with guidance from your assigned advisor.
  • Edward Jones charges commissions on trades and may charge advisory fees depending on the type of account you open.
  • The firm does not offer commission-free stock trading like some online brokerages do, so costs are higher if you trade frequently.
  • Your advisor can help you understand investment options and create a plan, but you pay for that service through fees and commissions.

Types of Accounts You Can Open

Edward Jones offers several account types depending on what you want to do with your money. A standard brokerage account lets you buy and sell stocks, mutual funds, bonds, and other investments with no contribution limits — you can deposit as much as you want. A retirement account (such as an IRA) has annual contribution limits set by the IRS but offers tax advantages if you follow the rules about when you can withdraw money.

You can also open a college savings account (529 plan) to save for education expenses, or a custodial account if you're saving for a minor. Edward Jones will walk you through which account type makes sense for your situation when you visit a branch.

How Fees and Commissions Work

Edward Jones does not offer commission-free trading. When you buy or sell a stock or mutual fund through Edward Jones, you pay a commission — a flat fee or a percentage of the trade amount. The exact commission depends on what you're buying and the size of the trade. This is different from online brokerages like Fidelity or Charles Schwab, which often charge zero commission on stock trades.

In addition to commissions, Edward Jones may charge an advisory fee if you use their advisory services. Some accounts are managed by an advisor for a percentage of your account balance each year (typically 0.5% to 1.5%, though this varies). Other accounts are self-directed, meaning you decide what to buy and sell, and you only pay commissions on individual trades.

Ask your Edward Jones advisor to explain all fees upfront before you open an account. The firm is required to disclose fees in writing, and you should review that disclosure carefully.

How to Open an Account

To open an account with Edward Jones, find a local branch office and visit in person or call to schedule an appointment. You can locate branches on the Edward Jones website by entering your zip code. When you meet with an advisor, bring a government-issued ID and proof of your current address (such as a utility bill or bank statement).

The advisor will ask about your financial goals, how much you want to invest, and your comfort level with risk. They'll explain different investment options and help you choose which account type and investments make sense for you. Once you've decided, you'll sign account paperwork, and the account is typically opened within a few business days.

You can fund your account by transferring money from your bank account or by mailing a check. If you're moving money from another brokerage, Edward Jones can help you transfer existing investments without selling them first.

What You Can Invest In

Edward Jones lets you buy individual stocks, mutual funds, bonds, exchange-traded funds (ETFs), and other securities. Your advisor can recommend specific investments based on your goals and risk tolerance, or you can ask to buy something specific if you've already decided what you want.

The firm also offers proprietary mutual funds (funds created by Edward Jones itself) as well as mutual funds from other companies. Some advisors may emphasize their own funds, so it's fair to ask whether a recommendation is based on what's best for you or what generates higher commissions for the firm.

In-Person information vs. Online Brokerages

The main advantage of Edward Jones over an online brokerage is the personal relationship. If you're new to investing or prefer to talk through decisions with someone, having a dedicated advisor can be reassuring. They can explain how different investments work, help you think through your long-term goals, and adjust your strategy as your life changes.

The main disadvantage is cost. Edward Jones's commissions and advisory fees are higher than what you'd pay at an online brokerage, especially if you trade frequently or manage a smaller account. If you're comfortable researching investments on your own and making decisions through a website or app, you'll likely pay less elsewhere.

Some people use both: they might have a small account with Edward Jones for ongoing information and a larger account with a low-cost online brokerage for self-directed investing.

What Happens After You Open an Account

Once your account is open, you can contact your advisor to buy or sell investments, or you can place trades through Edward Jones's online platform or mobile app if your account allows self-directed trading. Your advisor will send you statements showing what you own, how much it's worth, and any fees charged.

You can meet with your advisor regularly to review your account and discuss whether your investments still match your goals. Many advisors recommend an annual or semi-annual check-in. If your situation changes — you get a raise, inherit money, or your goals shift — tell your advisor so they can suggest adjustments.

Frequently Asked Questions

Does Edward Jones charge to open an account?

No, opening an account is free. You only pay commissions when you buy or sell investments, and potentially an ongoing advisory fee if you use their advisory services. Ask your advisor for a written breakdown of all fees before you fund the account.

Can I trade stocks commission-free at Edward Jones?

No. Edward Jones charges a commission on stock trades, unlike some online brokerages that offer zero-commission stock trading. If low trading costs are important to you, compare Edward Jones fees with other brokerages before deciding.

What if I want to move my money to a different brokerage later?

You can transfer your account to another brokerage at any time. Edward Jones will help you move existing investments without forcing you to sell them. You may owe a fee to Edward Jones for closing the account, so ask about that before you transfer.

Do I need a minimum amount of money to open an account?

Edward Jones does not publish a universal minimum, but individual advisors or branches may have their own minimums. Call your local branch or visit in person to ask what they require to open an account.

Can I manage my account online, or do I have to go to the office?

Edward Jones offers online and mobile access to your account so you can check balances and view statements anytime. However, some trading features may require you to call your advisor or visit the office, depending on your account type and the complexity of the trade.