stats
Lieutenant
Posts: 53
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Post by stats on Mar 22, 2021 19:28:38 GMT
I am working on a plan to minimize our taxes and required minimum distributions over the next decade. When I die, TIAA will allow us to rollover my entire TIAA Traditional into my wife’s traditional IRA. This gives us, well my wife, an opportunity to convert this money to a ROTH, within our current tax bracket.
I am not looking for portfolio management, but for someone to look over my shoulder. Do you think Edward Jones would be a good choice for this? Or you could possibly suggest another option
stats
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Post by yogibearbull on Mar 22, 2021 20:06:52 GMT
Many advisors/brokers affiliated with Edward Jones or [Fido or Schwab] may want her to transfer assets to their platform.
Does she have R-IRA established somewhere already? That may be a good way to prepare ahead and have small amounts into funds that she may use later.
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Post by butwait on Apr 11, 2021 19:23:33 GMT
Hi stats
Howdy. When I was working, my professional travels had me visiting and going through many small, and even tiny towns, and I would invariably spot "Edward Jones" store front locations where one would be least expected to find one. I used think, they are ubiquitous. McDonalds doesn't have stores in many of these locations.
I searched online and found some perhaps useful information.
Supposedly, they built their seven-million-strong clientele by placing locations in communities all around the United States and Canada. Edward Jones has more than 41,000 financial advisors and other employees located in more than 16,000 branches around the country. Most offices are modest in size and typically have one financial advisor with an administrative assistant. Apparently, Edward Jones attempts to be the advisor next door.
There are a total of 13,686 McDonald's locations in United States as of March 23, 2021.
Take care,
ButWait
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stats
Lieutenant
Posts: 53
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Post by stats on Apr 11, 2021 23:36:29 GMT
Hi BW
The Edward Jones near me is a two person operation. Because of my illness they waived their fees. I didn’t ask and was surprised they waived their fees.
I have been asking for a plan, they and a tax guy they recruited can only suggest inflexible ideas. They give six possible ideas for next year, with no follow up for following years. I can use their data to piece meal plan. Right now, I have one more meeting with them but not expecting them to come up with a plan
Stats
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Post by yogibearbull on Apr 11, 2021 23:52:43 GMT
Don't expect wide or deep help from 2-person EJ office. A typical EJ office is 1 broker and 1 secretary/assistant and the use of EJ computer system. Out of curiosity, I looked at a few EJ offices around my area.
Are you also looking at local advisors affiliated with local Fido and Schwab offices?
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