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On Wed, 26 Aug 2020 22:15:46 -0400, wrote:

My FIL is heavily invested with Edward Jones and they are slamming him
2% a year for mostly Hartford mutual funds. (They seem to be joined at
the hip) What is the easiest way for him to get out? I am going to see
them but I doubt they are going to be much help. Personally, at his
age, growth is not an issue. He could put the money in CDs and never
be able to spend it all. I am not in the will so I really don't have a
dog in that fight but Judy wants me to help because none of them know
much about this stuff.

===

I don't have a lot of experience with managed accounts but I think the
first step is to find out if any sort of contractural agreement exists
with Edward Jones. If so, you want to take a look at it and determine
what kind of exit provisions are written in. You might want to have a
lawyer help with that if it seems overly complicated.

If there is no contract I'd start out by determining where you'd like
the assets moved, presumably to a low cost/no cost firm like Charles
Schwab or Vanguard. Who ever you pick, consult with them for advice
on how to proceed. I once did that with Schwab when I wanted to pull
my money out of a different brokerage. They took care of everything
and my assets magically appeared in the new account a few days later
without me dealing with the old brokers.

Next step is to figure out what to do with the Hartford funds and
determine what their fees are. We should be able to look that up if
you know the exact fund names and/or symbols. All of that information
is online but it's important to have the exact name since there are
often different classes of the same fund, each with different fees and
provisions.

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