My big week with Edward Jones vs Schwab blew my mind

I moved $12k from my Edward Jones account to Schwab on Monday and the fees alone saved me $800 a year. Has anyone else switched and seen a huge difference in fees or returns?

2 comments

2 Comments

grayperez11d ago

That 'saved me $800 a year' part really got me... I used to think all these brokers were basically the same, you know? Just different names on the door. But hearing the numbers laid out like that makes it hard to argue with. I honestly figured the fees were just part of doing business and you couldn't avoid them. Seeing you switch and keep that much in your own pocket changed my mind completely. It's crazy how much those little cuts add up and you don't even realize it until you see the total.

irishenderson10d ago

Grayperez, that "little cuts add up" part is exactly what I found out too. I was with the same broker for years and never bothered to look at what I was actually paying in fees. When I finally added it up I was shocked, it was like leaking money out of a slow drip that you don't notice until you see the bucket is almost empty.