Long-time Edward Jones customer
The majority of money I’ve saved the last 25 years (mid six figures) is with Edward Jones managed by the local EJ guy, who I really like. Every year he says the right things, always takes my calls, and seems to care about me and my family.
The thing is I also have a five-figure account in Fidelity mostly in the S&P (and a little bit in a few favorite stocks) that I “manage” myself (really just add to from time to time).
Every time I look, while the Fidelity account goes up, the Edward Jones account stays about the same. It’s up less than 10% in the last 12 months (which I understand in normal times would be a good return… but my Fidelity account is up substantially more in the same time). It feels like it’s always been this way for as long as I’ve had this Fidelity account.
Long story short, I feel like I could do better just by moving everything to Fidelity and putting it in the S&P.
I really like the Edward Jones guy and would feel terrible taking my business away from him. Also, I really don’t know that much about investing since I’ve always relied on him.
I guess I’m looking for opinions about whether or not I’m better off moving everything to Fidelity and, since I don’t know that much (or have the time to learn), putting it mostly in the S&P. And if so how to break up with my EJ guy.
Sorry for oozing a lack of confidence, and thanks in advance for sharing your thoughts!