Time to Withdraw Money Out of Edward Jones Account?
At some point in an investors journey, there will come a time when they need to
withdraw their money, and ultimately close their account. Whether the account holder is
closing out entirely or transferring from one firm to another, the process is similar.
Edward Jones provides digital banking, allowing the account holder to complete this
process through the Edward Jones app, or online at edwardjones.com.
A positive customer experience is important to Edward Jones, whether the account
holder is just opening an account, or closing one. All investors prefer their money in the
hands of those that they trust. Edward Jones provides a easy-to-use interface and top-notch
client support that ensures a trustworthy and simple withdrawal and closing process.
How to Close Edward Jones Account
After coming to the decision that the client is ready to close their account, the next step is
to actually log in to the account. Find the contact information for the respective advisor
under the ‘My Team’ tab and consider sending them a message. It is required that the
client finds time to talk with their advisor and inform them of their intentions.
The client will then need to provide a Signature Guarantee in order to confirm their
identity and move forward in the process. This is to make sure the client is actually
making a withdrawal request and not someone else.
The only way to close the account is through the advisor that has been provided.
Whether it be a personal connection to the client, or someone that EDJ provides, they will
know it is nothing personal. This is something that advisors deal with regularly, and they
will be happy to work with the client on their 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 point of the meeting is to close the Edward Jones account and make a withdrawal of funds, so be
stern in your request. In volatile times such as those currently, the advisor may offer
some insight as to the timeliness of their client's withdrawal. At the end of the day, it is
the client's decision, and always will be. If their wish is to liquidate, then the advisor must
comply.
When approaching the advisor, it is important to remember that they are a professional.
Although a closure or withdrawal is taking place, they are still responsible for working
with the client's best interest. Remain respectful, and listen to the advice they are willing
to offer. This will benefit the customer, ensuring communication throughout the closing process.
If willing, please explain the reasons for the departure and offer feedback where it is
necessary. Edward Jones is a business at the end of the day, and any feedback provided to
them will be appreciated.
What They’ll Say
Edward Jones posts a closure fee of $95 for both traditional and Roth IRA accounts and
$95 for account transfers. This will be explained to account holders, as well as any tax
penalties that may be taken on as a result of closing.
The account holder will need to provide a location describing where they would like
their funds to get transferred to, this could be a bank account or a separate brokerage /
investment firm. In this process, the user will need to provide the relevant account
numbers, so be sure to have those on hand to ensure a quick process.
Outside of this, the client is not obligated to give any further information regarding plans
with their funds. Thank the advisor for their time and effort, and move on accordingly.
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Edward Jones Account Closing Fee
Edward Jones has an account closure fee of $95 for both taxable and non-taxable (IRA) accounts.
Edward Jones Account Transfer Fee (ACAT)
Edward Jones' account transfer out fee (ACAT) to another firm is $95 for both non-taxable (IRA) taxable accounts.
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.
Try Wiser Advisor
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