Time to Take Money Out of Your Edward Jones Account?
At some point, investors will need to take out their money and close their account. Whether they are closing completely or moving to another company, the steps are similar.
Edward Jones offers online banking, letting you do this through the Edward Jones app or on edwardjones.com.
Edward Jones cares about giving customers a good experience, whether you are opening or closing an account. Everyone wants their money with people they trust. Edward Jones has an easy-to-use website and excellent customer support to make taking out your money and closing your account simple and trustworthy.
How to Close Your Edward Jones Account
Once you decide to close your account, the next step is to log in. Go to the ‘My Team’ tab to find your advisor’s contact information and consider sending them a message. You need to take time to talk with your advisor and let them know your plans.
You will then need to provide a Signature Guarantee to confirm who you are and continue with the process. This ensures that you are the one requesting the withdrawal and not someone else.
The only way to close the account is through the advisor assigned to you. Whether you know them personally or they are assigned by Edward Jones, they understand it’s not personal. Advisors handle this often and will help you with your withdrawal.
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor.
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What to Say
The goal of the meeting is to close your Edward Jones account and take out your money, so be clear in your request. In uncertain times, the advisor might share some thoughts on the timing of your withdrawal. In the end, it’s your choice. If you want to withdraw, the advisor will support your decision.
When talking to the advisor, remember they are professionals. Even though you are closing or withdrawing, they still want what’s best for you. Stay respectful and listen to any advice they give. This helps keep communication open during the closing process.
If you’re comfortable, explain why you are leaving and give feedback if needed. Edward Jones is a business, and they will appreciate any feedback you provide.
What They’ll Say
Edward Jones charges a $95 fee to close both traditional and Roth IRA accounts, and $95 for account transfers. They will explain this to you, along with any tax penalties that might apply when you close.
You will need to tell them where you want your money to go, like another bank account or a different brokerage or investment firm. You will need to provide the necessary account numbers, so have them ready to make the process faster.
Other than that, you don’t need to share more information about what you plan to do with your funds. Thank the advisor for their help and proceed as needed.
Edward Jones Account Closing Fee
Edward Jones charges a $95 fee to close both taxable and non-taxable (IRA) accounts.
Edward Jones Account Transfer Fee (ACAT)
Edward Jones' fee to transfer your account (ACAT) to another company is $95 for both non-taxable (IRA) and taxable accounts.
Updated on 1/1/2025.
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