Edward Jones Fees 2026: Advisory Solutions Up to 1.40% a Year, Digital 0.65%, Form ADV of November 2026

Every Edward Jones advisory program in the SEC file

Edward D. Jones & Co., L.P. (CRD 250, SEC file number 801-3297) is registered with the SEC as an investment adviser and as a broker-dealer. The SEC's Investment Adviser Public Disclosure site lists twelve brochures for it. We downloaded all twelve on November 13, 2026 and read Item 4 (services, fees and compensation) and Item 5 (minimums) of each. Our page on what a financial advisor costs quotes one Edward Jones program, the Investment Advisory Program, at 1.35% plus 0.05%. That maximum is unchanged in the current brochure; what that page does not show is the other programs, the tier schedules and a program filed on November 3, 2026.

The brochures are written to be read together. The Investment Advisory Program brochure says that Advisory Solutions Unified Managed Account Models and Fund Models accounts that use Research Models “will become Managed Solutions Accounts,” Guided Solutions Flex accounts “will become Client Directed Accounts,” and Financial Advisor Managed Solutions accounts “will become FA Managed Accounts.” It adds that Guided Solutions Fund accounts “will become Custom Managed Solutions Accounts” and that “discretion will change on Guided Solutions Fund accounts migrating to IAP.” The migration is for accounts that “you choose to migrate”; the fee rates in the brochures are the same either way. The firm's 10-K for 2025 still names Advisory Solutions, Guided Solutions and FA Managed Solutions as the sources of its advisory program fees.

The tier schedule behind the maximum

The brochures say “up to a maximum” and that “Accounts with higher values generally pay lower fee rates than accounts with lower values.” The step-down is printed in the Schedules of Fees, separate PDFs the brochures refer to. We retrieved six: Fund Models and Guided Solutions Flex (both revised February 2025), UMA Models, Financial Advisor Managed Solutions and Guided Solutions Fund (all revised March 2026), and the Investment Advisory Program (revised November 2025). The first five print the same bands; the sixth prints a maximum only.

The schedules label the rows “First,” “Next” and “Over,” which reads as slice-by-slice pricing; they also say the fee is calculated “by multiplying the applicable fee rate” by the market value of all assets, using the previous month's average daily balance. We read the bands as marginal. If Edward Jones applied the rate of the top band to the whole account, the figures would differ, and your statement is the place to check which is used. The UMA brochure adds the SMA manager fee: unaffiliated managers “generally charge an annual SMA Manager Fee rate that ranges from 0.00% to 0.45%.” The IAP Schedule of Fees of November 2025 says the SMA manager fee “generally ranges from 0.00% to 0.40%,” a difference we cannot explain from the documents.

The Investment Advisory Program is where accounts are moving, and its schedule is the one without a table. Its brochure still says higher balances “generally pay lower fee rates,” so the absence of tiers in the schedule is not evidence that there are none. It does mean a client reading only the IAP schedule sees 1.35% and 0.05% as the numbers, and a client reading the Fund Models schedule sees a ladder to 0.50%.

What the same account pays in dollars

All figures are our arithmetic on the printed maximums and bands, per year, before any discount, fee offset or pricing-group combination, and before the internal expenses of the funds and ETFs in the account, which the brochures say are charged “in addition to” the program fee. If separately managed accounts are used, the manager fee is added: on $500,000 held entirely in an SMA at the 0.45% top of the range that would be $2,250 more (our arithmetic, an upper bound).

The firm's own financials give a different kind of number. The 10-K of The Jones Financial Companies, L.L.L.P., the parent, reports advisory programs fees of $7,814 million in 2023, $9,463 million in 2024 and $11,075 million in 2025, on average advisory programs assets of $973 billion in 2025. Divided, that is 1.14% (our arithmetic). The 10-Q for the third quarter of 2026 reports $9,905 million for the first nine months on average advisory assets of $1,164 billion, 0.85% for nine months or 1.13% a year (our arithmetic). The revenue line includes Canada and every client, discounted or not, so it is a firm-wide average and not what a client of a given size pays. It sits below the 1.40% top rate, which is consistent with tiers, pricing groups and negotiated discounts all existing in practice.

Is the fee negotiable? What the brochures say

The brochures answer yes and then describe the incentive against it. The Fund Models brochure lists the circumstances in which the fee may be below the maximum: “Either Edward Jones or your financial advisor negotiates a lower Program Fee,” the client is an active or eligible retired associate, or the client is in such an associate's pricing group. It adds, in the section on how advisers are paid: “Financial advisors who receive a portion of the Program Fee have a financial incentive not to negotiate the Program Fee.” Most advisers receive a portion of the program fee, “though some financial advisors receive a salary in addition to, or in lieu of, the Program Fee,” and the adviser “also will not receive a portion of the Platform Fee.” The IAP brochure ends the passage with “Edward Jones retains sole discretion to reduce the IAP Fee, up to and including a full waiver, which may result in clients being charged differently for the same or similar services.”

Three other mechanics change what a client pays, all described in the brochures:

• Pricing groups. Accounts are grouped for the rate if they are held in the same branch and registered at the same address with the same last name or Social Security number or the same Relationship Group; a revocable trust is grouped with those accounts if it has the same address and tax ID. The brochure says the firm “will disclose to you the accounts making up your Pricing Group upon request.”
• Fee reduction for a converted account. If the account is funded from an Edward Jones account that incurred commissions or redemption fees in a preceding period, “the Program Fee may be reduced for up to twenty-four (24) full months.” The amount depends on the security, the timing and other characteristics of the earlier account, and a client who sells securities not bought through Edward Jones gets no reduction.
• Fee offsets. If Edward Jones receives Rule 12b-1 fees or shareholder accounting revenue on shares in the account, “we will credit the amount received to your account.” For the Edward Jones Money Market Fund, “a fee offset equal to the amount of the Money Market Revenue” is applied. The IAP brochure adds that “Edward Jones does not receive revenue sharing on assets held in IAP Accounts.”

The commission account

A client who does not choose an advisory program has a Select Account, a brokerage account. The firm's “Important information about our brokerage services” (revision of May 2025) describes its costs, and its schedules of fees list the account fees. The numbers below are from those documents.

The two charging models trade a cost now for a cost over time. A 5.75% sales charge is equal to 4.1 years of a 1.40% fee (our arithmetic), with the commission account's 12b-1 fees of 0.25% to 1.00% a year inside the fund on top and no ongoing fee from the firm for monitoring. The firm says the same in its own words: “A financial advisor will typically earn more in upfront fees and commissions when you use brokerage services. In the alternative, a financial advisor will typically earn more over time if you invest in Advisory Solutions Fund Models.” That creates “a financial incentive for your financial advisor to recommend Advisory Solutions Fund Models instead of brokerage services.” The brochure also warns that an advisory account “may cost you more or less” than buying the services separately, depending on the trading in the account.

Cash: where uninvested money goes

In an advisory program, cash is swept into the Edward Jones Money Market Fund, which the Form CRS calls “the default cash sweep option for your advisory account.” The fee is charged on cash too: the brochures say the program fee is based on “all assets held in your account, including cash.” The fund's adviser, Olive Street Investment Advisers, an affiliate, “receives a management fee of 0.20% of average net assets,” and the fund pays Edward Jones a Rule 12b-1 fee “of up to 0.25%” and an administrative shareholder service fee “up to 0.15%.” Those revenues are credited back to the account as a fee offset. The Fund Models brochure adds that deposits “not yet invested into Advisory Solutions Fund Models may earn interest that will be retained by Edward Jones.”

In a brokerage account, uninvested cash earns interest as a free credit balance held by the firm, or can be swept into deposit accounts at unaffiliated banks in the Insured Bank Deposit Program. The brokerage disclosure says plainly: “The fees we retain from banks participating in the Bank Program exceed the interest we pay to clients.” It continues that “we have an incentive to pay lower interest rates to participating client accounts, and earn more revenue, which is a conflict of interest.” The firm's cash solutions fees were $580 million in 2024 and $553 million in 2025, and $392 million in the first nine months of 2026 against $422 million a year earlier (10-K and 10-Q). The current rates are on edwardjones.com/rates, which loads its figures by script, so we have no dated rate table to print; read the rate on your own statement against it.

The conflicts the firm discloses

The Form CRS (as of August 15, 2026) says: “The more assets (including cash) in your account, the more you pay us. As a result, we have a financial incentive to increase assets in your account.” The brochures add further incentives, all in the firm's words or close to them:

• The program fee, assets under care and Reserve Line advance balances “will impact most financial advisors' eligibility for a bonus and bonus amount” and for certain limited partnership profits interests in the parent.
• Eligibility for the Travel Award Program is based on “the amount of new and existing assets under care of a financial advisor.”
• Edward Jones “will receive revenue as a result of you taking advances under the Reserve Line,” a securities-based credit line, while the advance does not reduce the assets on which the fee is charged.
• Edward Jones and its financial advisors pay third parties for client referrals; Form ADV Part 1 reports 8 firms or persons that solicit advisory clients on its behalf.
• For taxable accounts, fixed income syndicate offerings are excluded from the fee calculation “for a period of time as determined by Edward Jones.”

Moving from a commission account to a fee account

The reader who searches “Edward Jones fees” is often looking at a conversion. Two documents bear on it. The brochure's 24-month fee reduction, described above, is the firm's stated mechanism. A coordinated investigation by state securities regulators, announced by NASAA on January 8, 2025, examined whether the firm “had reasonably designed procedures to precisely apply the holding period of a Class A share mutual fund purchase relative to the fee offsets” when brokerage clients moved to an advisory offering, for the period from about July 1, 2016 to June 30, 2018. The brochure says the firm agreed to pay each participating regulator “$320,754.72 in administrative monetary fines,” plus $15,000 in costs to certain states, “a total monetary fine of $17.25 million.”

The New Jersey Bureau of Securities consent order in that investigation, which we downloaded, describes the facts. Customers who had paid a front-end load of up to five percent on Class A shares in the two or three years before opening a Guided Solutions account were subject to ongoing advisory fees upon account opening. The order says that “a two-year fee offset did not fully offset the front-end load paid on the Class A shares previously purchased by certain customers,” and that the states estimate such customers “collectively paid more than ten million dollars in front-end loads” that the firm kept and did not apply against advisory fees. On restitution, the order says that “in foregoing restitution” the states considered the performance of the advisory accounts compared with the brokerage accounts, the low per-customer amount and the time elapsed. The brochure says the firm agreed “without admitting or denying” the findings in each order.

The firm in Form ADV Part 1 and BrokerCheck

Form ADV Part 1A was last amended on November 9, 2026 (an other-than-annual amendment). Its Item 5 reports regulatory assets under management of $1,013,608,323,988 in 5,630,517 accounts: $494,274,246,692 discretionary in 1,782,026 accounts and $519,334,077,296 non-discretionary in 3,848,491 accounts. The brochures give $494,281,232,605 discretionary and $578,967,564,739 non-discretionary as of December 31, 2025 across the advisory programs; the form and the brochures use different definitions and we do not reconcile the non-discretionary figures. The form counts 36,317 employees, 20,304 who perform investment advisory functions and 23,642 registered as investment adviser representatives. Clients are mostly individuals: 3,657,451 individuals who are not high net worth ($613.2 billion) and 372,771 high net worth individuals ($381.2 billion).

Item 11 asks about disciplinary history of the firm and of every advisory affiliate, which for Edward Jones means its employees, so a Yes there does not say whom an event involved. The form attaches disclosure reporting pages for individual advisory affiliates; we do not name anyone, and these are employee-level records among 20,304 advisory employees, not findings against the firm.

FINRA BrokerCheck lists three kinds of disclosure for the firm itself: 183 regulatory events, 2 civil events and 150 arbitrations (retrieved November 13, 2026).

Orders against the firm

The SEC order triggered a statutory disqualification, and in notice SD-2414 (posted in September 2025) FINRA's Department of Member Supervision approved the firm's application “to continue its membership with FINRA notwithstanding its statutory disqualification,” under a Plan of Heightened Supervision. The same notice lists the firm's recent examinations and consent orders, and describes the Massachusetts order as concerning “unreasonable commissions the Firm charged on certain equity transactions.” Not every matter in that notice appears in the disciplinary section of the firm's March 2026 brochures: the six matters the brochures list are the 2017 and 2022 FINRA settlements, the Pennsylvania order, the SEC order and the multistate investigation. The 2017 FINRA settlements and the Pennsylvania order are described in the brochures as entered “without admitting or denying the findings”; the SEC order records that the firm “admits the facts set forth in Section III.” This is the record of a very large firm, 20,425 financial advisors at the end of 2025 according to the parent's 10-K, and it says nothing about any one adviser or branch; each adviser's own record is on BrokerCheck and IAPD.

What a reader can do with this

• Find the program and the rate. The statement and the account agreement name the program (Advisory Solutions, Guided Solutions, FA Managed, IAP or Digital Managed Solutions). Ask for the fee rate on each account in writing and compare it with the 1.35% plus 0.05% maximum and the tier table above.
• Ask what the schedule says for your balance. The Fund Models, UMA, FA Managed and Guided Solutions schedules print tier bands; the IAP schedule prints a maximum. Ask whether the bands apply slice by slice to your account and what rate your largest slice pays.
• Ask about the pricing group. The brochures say the group, and so the rate, can include accounts of relatives at the same address in the same branch. Ask which accounts are in yours, and whether the platform fee, which the adviser does not share in, was reduced.
• If the account came from a commission account, ask whether the 24-month reduction applies, for how many months and in what amount, and what front-end loads were paid in the two or three years before.
• Check cash. Ask how much of the account sat in the Money Market Fund or in cash in the last year, what it earned and what fee it bore.
• If separately managed accounts are used, ask for the SMA manager fee in percent and dollars.
• Put it next to the market. Our page on what a financial advisor costs prints the posted fee schedules of 21 large firms and platforms, Edward Jones among them, and the page on what an advisor costs a real estate investor uses survey medians instead of brochures.
• Check the filing dates. The brochures and the Form CRS carry dates; IAPD shows each submission. A rate quoted to you that differs from the brochure should be explained in writing.

This is analysis of public documents, not investment, legal or tax advice.

FAQ

Fee rates, minimums and quotations are from the twelve Form ADV Part 2A brochures Edward D. Jones & Co., L.P. (CRD 250) filed on the SEC's Investment Adviser Public Disclosure site, downloaded November 13, 2026 (the Investment Advisory Program, Fund Models, UMA Models, Guided Solutions Fund and Flex, Financial Advisor Managed Solutions, Digital Managed Solutions of November 3, 2026, Branch Office Financial Planning of July 30, 2026, Generations, Retirement Plan Services, SMA Model Portfolios and Overlay Management), the Schedules of Fees for Fund Models and Guided Solutions Flex (February 2025), UMA Models, Financial Advisor Managed Solutions and Guided Solutions Fund (March 2026) and the Investment Advisory Program (November 2025), the brokerage disclosure LGL-12150I-A (May 2025), the brokerage Schedule of Fees (April 2024), the Schedule of Fees for IRAs (January 2026) and Form CRS (August 15, 2026). Form ADV Part 1 is the filing of November 9, 2026, and the BrokerCheck counts were retrieved on November 13, 2026. Firm revenue is from the 10-K for 2025 (accession 0001193125-26-105798) and the 10-Q for the third quarter of 2026 (accession 0001193125-26-449407) of The Jones Financial Companies, L.L.L.P. Orders are from SEC Release No. 34-100704, FINRA notice SD-2414 and the New Jersey Bureau of Securities consent order of January 8, 2025. The tier-band dollars, the effective rates, the 4.1-year break-even, the 1.14% and 1.13% firm-wide rates and the Item 11 and disclosure-page counts are our arithmetic or our reading. We could not retrieve a dated cash rate table, a current Guided Solutions Flex Schedule of Fees dated March 2026 or the text of the multistate orders other than New Jersey's. This is analysis of public documents, not investment, legal or tax advice.