Edward Jones is mainly a traditional full-service brokerage. They wouldn't be the best choice for a self-directed client, which I think the OP is inquiring about.

I use a combination of Vanguard and Chase/JPMorgan Self-Directed.

No-fee trades and/or very low cost index funds.

If you want to roll your own investments, Bogleheads Forum (named after the late, great Jack Bogle of Vanguard fame) has great information and forum participants to educate yourself:

https://www.bogleheads.org/

I don't think T.D. Ameritrade has been mentioned yet. Would be a similar choice to E*Trade.

However, for a smaller online trader, maybe Ally Invest. Smaller company, very low fees.

quote:

Edward Jones is mainly a traditional full-service brokerage. They wouldn't be the best choice for a self-directed client, which I think the OP is inquiring about.

^^^^^^^^^^^^^^^
True the firm is large but they typically have one or two person offices and cater to the mom and pop of the investment world. I see their clients come and go and they are not driving Mercedes. They pride themselves on individual attention not just the million dollar accounts.
It really does not matter where you have your accounts if you are going to manage it yourself. You then pay attention to details, like the interest you are getting on their Sweep Accounts, the clarity of their monthly statments etc.

Thanks guys. I did not mention it but not interested in purchasing individual stocks at least at this time.

Someone posted a youtube video about picking three types of funds. Like a small cap, a large cap and a bond fund. Sort of a three fund strategy. I do not remember if it was just a strategy or a company that was promoting their funds. Really wished someone could offer up the video and the outfit that did the video. Thanks.

Almost every major brokerage has self-directed accounts now.

It was to stop the bleeding from the cheap online brokers.

I use Merrill Lynch and Fidelity.

Both have minor commission fees for self-trading.

If you are comfortable using a strictly online broker there is Robin Hood.

Every Brokerage has a list of funds their clients have access to. None carry all but the list is long for most companies.

quote:

Originally posted by old rugged cross:
Someone posted a youtube video about picking three types of funds. Like a small cap, a large cap and a bond fund. Sort of a three fund strategy. I do not remember if it was just a strategy or a company that was promoting their funds. Really wished someone could offer up the video and the outfit that did the video. Thanks.

That just sounds like "asset allocation" strategy, a basic investment principle. Lots of info out there on how to do it. The actual mix would depend on your goals, risk tolerance, time frame, etc. If you just need a basket for mutual funds, almost anyone could help. VG, Fido, Schwab,....

quote:

If you are comfortable using a strictly online broker there is Robin Hood.

^^^^^^^^^^^^
There are solvency issues with the firm. Plus they are tied up with SBF. Too skethchy for me. May be commission free but there are better options. SBF bought 546 million of Robinhood through Alameda.
It does provide a bare bones trading experience.

I used ETrade mostly and one small account at Fidelity to take advantage of their credit card.

Just so I understand, you want (1) self directed accounts (2) smaller or different brokerages than the ones listed (3) access to mutual funds but no individual stocks needed (4) you want a simple mutual fund strategy.

The big names listed give you the ability to cheaply and easily cover three of those four bases. A smaller brokerage MAY give you a quality self directed option, but I imagine they would steer you towards advisory services.

Do you have any experience with investments? Embarking on the self directed route without a clear plan is risky. It is very easy to get your holdings out of whack with your goals or desires and lose a shit ton of money when there is blood in the streets and you panic sell.

That being said, there are plenty of resources to assist you. A few book recommendations:

https://www.amazon.com/The-One...n%2Caps%2C119&sr=8-1

https://www.amazon.com/The-Sim...audible%2C113&sr=1-1

https://www.amazon.com/Single-...Caudible%2C94&sr=1-2


I personally follow a dividend growth strategy in my self directed accounts, and traditional asset allocation methodology in my employer sponsored retirement accounts (401k).

My personal mantra in the self directed accounts is: Buy high quality companies, at a fair price, and reinvest the dividends.

TD Ameritrade is a subsidiary of Charles Schwab.

I use TD Ameritrade for stocks, ETFs (exchange traded funds), bonds, CDs, mutual funds.

It’s all self-directed.

My plan is to buy low, sell high and hold investments at least one year for the favorable capital gains tax on long term gains. I like to have enough cash to cover our needs for two years that so I don’t have to sell something when it’s down. Sometimes, like now, I have more cash than that so I can take advantage of a downturn. The cash I have now came from selling rental real estate last year. I couldn’t raise the rents enough to justify holding those properties at the price I got for them after commission and taxes. It just wasn’t worth the risk. They were doing well based on what I paid for them, but the selling prices went nuts.

Ok, I finally found the video. I cannot remember who linked to it here. The guys name is Rob Berger and he recommends M1 Finance. I know nothing about him or M1 Finance. But I am going to watch the video again. Thanks guys for all your knowledge. Please keep providing info.

https://www.youtube.com/watch?v=kmw8OpGp2rM

quote:

Originally posted by kkina:
Does Fisher from your list accomodate self-directed investors? I thought they're mainly a Financial Advisory (a "fiduciary").

I was with Fisher up until late March last year. I found it difficult to change my bond/equity mix which is all I cared to do. They’re not self-directed; they’re a money management firm. For a self-directed portfolio, any brokerage would allow you to do that. The choice of a brokerage is even simpler than choosing a cell phone service as any of the main brokerages offer zero commissions on trade. They make their money like visa and MasterCard charging as a clearing house or one level before on each transaction.

I’m with Sigfreund. I’m 80% cash or more as I wait for the recession. I’m just behind in my investing. The 20% or so in in VTI but that’s for my needs 20 years out so I don’t care about the market in the short term for that amount. In 20 years, I expect that to grow sufficiently without me having to worry about any intervening dips.

We are mostly with Vanguard and have been for decades. I understand their woke stuff but I am not moving everything just because of that. I don't have any recommendation for a place to put your money other than what you already listed or has been previously mentioned. You did say that it might be hard to go to cash in an IRA though? Vanguard and others have cash reserves money market fund for when you want to sell and park rather than reinvest in something else. I do that in my regular and ROTH IRA with my Vanguard brokerage account.

Right now we are about 18 percent in Vanguard managed stock funds and the rest in cash/money market and stable value fund with wife's 401K. At 71 I am vey happy to be making 4.3 percent on cash for now and sleeping well. Fed has stated that there will not be any rate cuts in 2023 and not until they have high confidence that they are steering inflation back to 2 percent which my reply is "good luck" as the politicians party like it is 1999 while being responsible for a fast growing $32 trillion dollar debt. I feel we have not come close to the bottom for stocks yet as any little thing that can be twisted to look positive for stocks brings buyers right back in, not enough fear yet to indicate anywhere near bottom but that's just my 2 cents.

quote:

Vanguard and some of their woke bullshit

Like what? I am curious.

Like they have too many white male's in decision making positions. I do not know if they do or not. Just promote the best applicants for the job. Who cares what color or gender they are for crissakes. I don't.
But that is just too much to ask for these people now days.

If you’re looking for brokerage accounts, here is a link to the Motley Fool list of brokerages.

I’ve dealt with TD Ameritrade, Schwab and Fidelity and I had been happy with each one.

I tend to buy mutual funds with a buy and hold strategy. My plan is to keep dumping money into the market as it continues to drop. I don’t need the money for the next 10-20 years, so I’ve got time to wait for the market to rebound.

quote:

Originally posted by old rugged cross:
Someone posted a youtube video about picking three types of funds. Like a small cap, a large cap and a bond fund. Sort of a three fund strategy.

That's how we're invested. Mostly blue chips, then bonds, then small cap, with a very small portion of the small cap in riskier, higher-yield stuff.

We don't direct our own, per se. We've "a guy." We discuss with him goals, exposures, risks, benefits, perceptions on where things might be headed, strategies, etc., and he sees to the details of best-managing the broad strategies upon which we've agreed.

We generally leave him alone to manage those details as best he sees fit. The only time I've micro-managed our investments was when I recently told him we didn't care to be invested in Meta (Facebook, Instgram, Occulus, etc.). (Turned out he'd gotten us out of Meta months ago.)

There is the Bogle strategy which people use 3 funds to achieve.

The concept of all these types of strategies is to own as wide a selection of companies and industries as possible, including across different countries. Diversification in the biggest sense.

Less downside, less upside. Less time spent on research, less worry when the economy or world events are bad.

quote:

Originally posted by TannerBoyl:
I tend to buy mutual funds with a buy and hold strategy. My plan is to keep dumping money into the market as it continues to drop. I don’t need the money for the next 10-20 years, so I’ve got time to wait for the market to rebound.

Ditto. That's my retirement investment strategy to a T.

Buy broadly diversified index funds in a simple 4 fund portfolio, and plan to hold them for a long time. Continue dollar cost averaging via a regular contribution schedule no matter what the market is currently doing. Focus on the long term ~8% growth, not the short term -15% or +20%.

I have 11 years to my first retirement, and 25ish years to full retirement. So what the market is doing this year doesn't matter, compared to what the market does over the next 25 years overall.

quote:

broadly diversified index funds

Could you explain please?