- April 25, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Moving Funds from Edward Jones
Hello, I recently decided to move my funds out of Edward Jones and I got changed $510. They took a $95 cancellation fee and a $75 annual fee on my 2 Roth IRA accounts and my one trade IRA. Is this correct? Can I get any of that money back? Thanks.
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If you’ve moved your money to a new firm, check with them. They may offer to reimburse account closure fees. I just clawed back $425 after moving from NML.
Fees is how EJ makes money. Most of them are BS fees as well.
You would have to read your terms to know what the fees are. But it is probably correct and they certainly won’t be giving any of the money back .These “advisor” companies usually don’t just steal from you, they get naive people to agree to outrageous terms. You don’t need or even want a financial advisor. Just read a beginner’s book on personal finance. The financial industry wants you to think that all of this is very complex and that they know some secret. They don’t. You will do better just investing in stock index funds yourself and using a low cost buy and hold strategy. This has been proven over and over and over again with data.
internet search this
“reddit personal finance can I claw back closing fees from Edward Jones”
I received 1,900,000 hits
One of them has to have some useful information.
You have now learned why most people consider eddy jones a bad company to deal with. Once they get their claws in you, they make you feel pain in oh so many ways.
I mean read the terms of service you signed when opening the accounts. That will tell you what is “correct”.
That sounds frustrating! Give Edward Jones a call and ask about those charges. They might be able to explain or even refund some of it.