Choosing the right adviser of investment is very important for those who have the retirement planning. Among several options, there are Charles Schwab and Edward Jones which are considered as two of best in the field. Along with Fidelity, Charles Schwab and Edward Jones put their names at the top tree spots in J.D. Power’s yearly investor satisfaction survey, as reported by Financial Planning. Which one you should choose? Which one is best? Go read the entire article below to see the comparition.
Charles Schwab is counted as one of the household names. It means that it is the largest discount brokerage house in the United States. This company offers self directed accounts which allows the clients to make the investment decision by yourself. Charles Schwab is so popular among all investors from the beginners to the institutions.
Edward Jones serves the full service platform for investors. This one does not offer discount like any other brokerage firms such as Charles Schwab. Different from Charles Schwab, Edward Jones offers the full service account. It is where all or most decision making is handed over to the company.
How about the pricing? Apparently, there is the huge difference in pricing structure between Charles Schwab and Edward Jones. Charles Schwab is charging for stocks and ETF’s $4.95 per trade. The amount is below the average in the industry. Meanwhile, Edward Jones is charging the percentage of all the assets of the client each year as a fee anywhere between 0.50% to 1.50% with the annual fee of $300. Basically, the percentage is like all the full service firms. It is said that it is such a huge amount to pay in fees, especially when added over the years and considering the loss of the potential investment get.
So, which one is better between Charles Schwab vs Edward Jones? Charles Schwab is easy to use, powerful trading tools that can make everyone satisfy but day traders. It is the opposite compared to Edward Jones. If you want to have the IRA accounts, then the best choice is Charles Schwab.
Both Charles Schwab and Edward Jones have their own plus and minus points. You can visit the official websites of two of them and compare the two by yourself. If you have any questions, you can try to contact the customer services of the two companies. Remember to call at the workday and work time to get the direct respond. If you have some more time and want to consult face to face, you might want to visit the office or the branch of them. Usually, there is a application form that you have to fill out before making a visit, so make sure to fill the form out first.
Once again, choosing the right adviser of the investment is important as it might affect your life. In this case, it is better for you to consider a lot of things before making the decision. Do not hesitate to consult with everyone who knows about this matter. hope you are able to find the right choice. good luck!