What do i look for when buying mutal funds? Do i need a inv rep edward jones, what does one charge for this?

Question

45yr old, 40 k to invest,

Answer 1

What you look for when buying mutual funds are these things:
Operating and Management expenses, found in prospectus and range between .49-2.25% the less is for bond funds and the higher end is for international, complicated stock funds. Above those expenses you will have 12b-1 fees of .25% (brokers ongoing fee for servicing you the account holder). Those are the cost they report in the prospectus and are considered estimates. Personalfund.com will show you "hidden" transaction cost that aren't required to be reported. Then you have to look at commissions. Edward Jones (traditionally) has STRONGLY ENCOURAGED brokers (they aren't advisers yet or if they are they have only been for 2 months or less) to also recommend that the brokers push to up front sales charges. The up front charges range from 5.75% and down depending on how much you are investing. $40(k) in A shares (up front charges) is above the first $25k breakpoint but below a $50k break point. Long story short, don't buy the A shares, it will cost you over 7% for the first year to invest, hope it is a good year.. They call this buying and holding because if you decide to change fund families (look for a fund family that covers a lot of bases and are very good across the board).
The above is MOST TYPICAL, but not always the case. All that being said, you can still make good money going with this approach. I prefer a different approach if you chose to use some assistance (get SOME value going through an adviser) I would recommend C shares which are more costly year to year, but no big fees going into funds or going out. I would use these funds for a year with your broker and chose the best of the best funds from several fund companies. This should yield you higher returns with the least amount of cost.
Final advise: take $20k and invest in vanguard or t.rowe price. take the other $20k and invest with your edward jones broker in C shares (or if they have rolled out their fee based account, try that) for 3 years- think long term. At the end of 3 years, you will know a few things.
1. Whether or not you like to do this yourself (which is almost always less expensive).
2. If the fees and higher expenses of a broker is worth it.
3. Who is giving you better planning advise.
4. How much does this bozo care about you and your well being.

Nobody knows if you need a broker, or if this rep is the person for you. They do charge, but if you know nothing, it may be worth it.

Answer 2

First you should determine what you expect of the mutual fund. Are you looking for security and stability, growth, or a combination? For how long do you intend to keep the fund? What is your risk tolerance?

You don't really need a financial rep like Edward Jones if you are comfortable researching different funds yourself. I'd start by looking at morningstar.com and fool.com to learn a little more.

Good luck.

Answer 3

Research how to invest at www.Morningstar.com. It will give you lots of background information on mutual fund investing. Many articles are free. Then, when you are ready to invest, buy the subscription to their ratings of various funds.

Answer 4

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