Edward Jones is known as a conservative investment house that works with clients looking to invest for the long haul. The company offers a wide range of financial products and services. It's especially well-known for its managed mutual funds and money-market accounts. Unlike discount brokerages like E-Trade and Scottrade, Edward Jones prides itself on providing its clients with access to a range of financial experts. Folks who invest with Edward Jones are usually assigned to a locally-based financial professional who's capable of answering virtually any questions about the investment process.

Unlike some investment brokers, Edward Jones offers only front-load mutual fund products. Each of these funds slightly elevates its cost basis by adding a load fee to its purchase price. The company's investment brokers are salaried and receive no commissions on the sale of these funds. This tends to encourage a conservative investment style that emphasizes foresight and diversification over hot-button investment vehicles that may carry significant risks.

However, these front-load fees can be significant. Whereas other investment houses charge back-end commissions of .5 percent on each fund or equity sold, Edward Jones's mutual funds carry load fees of between 1 and 2 percent. This is expensive compared to other managed-investment brokers. Budget-conscious investors should shop the company's peer institutions before choosing to entrust Edward Jones with significant amounts of capital.

Although Edward Jones prides itself on providing personalized service and custom-tailored investment advice, its client-retention and customer-satisfaction rates are mediocre. Relative to its peer institutions, the company experiences a high rate of client churn from year to year.

Many past clients have expressed dissatisfaction with its high load fees and lack of product choice. Others have complained that its financial professionals dole out cookie-cutter advice that fails to take into account the needs of each individual client. In addition, its mutual funds rarely outperform the broader stock market. This problem isn't limited to Edward Jones. Many independent finance analysts insist that managed retirement portfolios are more costly and less efficient than self-directed investments.

Investors who ultimately choose to invest with Edward Jones will be able to sell any of the firm's mutual funds or other investment products at current market value . Since Edward Jones charges no back-end fees or commissions, its clients receive the full sale amount for each completed transaction. There may be some exceptions to this rule: Special funds focused on foreign markets may carry extra transaction fees.