Edelman Financial Engines Reviews

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Edelman Financial Engines Customer Reviews

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Surrender my funds
August 4, 2023

I am trying to get my Trust cashed out, was told 59 1/2 now 65 or I get hit with penalties. No one can tell me what banks will allow a surrender from Ric E trust fund. Any help would be great.

June 13, 2022
Shyster said to buy crypto over the last 6 months...the only happy thing I have done was not listen to this clown...it's down 76%

May 21, 2022
I listened to Ric on the radio now and then and seemed to be very slick talker with a mix of BS. On his so-called new show he has now descended to be a bitcoin pimp and graduated to Shyster-in-Chief. Today's show (5/21/22) he was outraged because there is talk by the FEC on required education for investors of some type of investments. I know Ric, an educated investor is your greatest fear.

Time wasters
March 31, 2021

Scheduled a financial planning session. No one called me at the appointed time. Ten minutes after my scheduled appointment time, I ended up having to call them to find out what's up. The receptionist said they were running behind and would call me in 10 min. Strike one!

Never keep your customer waiting. If you are not going to be able to keep your appointment time, then have your assistant contact the customer to let them know. The customer should Never be in a position where they have to call to find out what is going on. They didn't actually get around to calling me until 30 minutes after my scheduled appointment time.

Strike two! We scheduled a follow-up meeting to review my financial plan once they finished their analysis. They called a few days later and said they needed to reschedule because their office is closed that day. Seriously?? You don't even know what days your office is closed?

Strike three! They called an hour before my rescheduled appointment time and said they needed to reschedule again because they were having computer problems. My time is precious. I don't have time to be wasting on theatre like this. I will work with someone who actually cares about me.

Don't waste your time with them!

MikeS. January 12, 2022

Count your blessings that you were ignored. Rick Edelman is a smooth-talking scam artist. He made his millions peddling Ric-E Trusts, charging exorbitant fees for "asset rebalancing" every quarter on top of annual fees.

Fifteen years after my grandmother invested $5,000 in one for me, it was worth.... $7,200. Slow clap, Edelman.

Good luck to anyone trying to pry that money away, by the way. Google Ric-E Trust to find out for yourselves. My advice: stay away from Edelman.

The most important thing to EFS... FEES!
August 10, 2018
With EFS for 18 months. The management fees were roughly $7300 dollars. Meanwhile I'm working on a hefty 3.8% growth of my IRA. Don't give these people your money. They do nothing for it. Your money goes in their eMAP program and for your advisor it's "set it and collect it". They say they'll do a financial plan for $800. Shouldn't that be free. Also, if they know you have other investments, all they talk about is how you should roll that into eMAP so you have it all under their control. Move on. Even the guy from a big insurance company had a better management fee

Lot of questions
December 17, 2017
I just finished sitting through his TV program and its nothing but hopeful suppositions and vague optimistic assumptions. We wont need nursing home care, because by the time most of us are 65 medical science will have cured all our ills?? We will all feel better at 95 then we do at 50?? Really?? Where is all this money that were going to need to raise our kids, volunteer overseas and buy the dream house? Boy this guy makes a lot of leaps.

RuthmarieGarcia Hicks August 27, 2018

I agree. I just saw him on WLIW and wondered where the hell he got his Ph.D. in biomedical sciences from. I have such a doctorate and I can promise you that your health outlook is nowhere near that rosy. Physical illness and aging are different for everyone. Time takes its toll on each of us in different ways. People get sick at different times. Some people are vital into their nineties, others not so much. The notion that we are going to be productive beyond 100 years of age given our current technology is ridiculous. And btw, experiments done in MICE are not generally applicable to humans for DECADES if ever. Yet he sites mouse studies in longevity as proof that we are about to conquer aging. Since the life cycle of a mouse is about 3 years compared to nearly 80 in a human, this is quite a leap.

breadbasket September 07, 2020

I heard his this weekend and I believe that Ric Edelman is a religious Democrat whose job is now trying to spread panic, doom and gloom in the voting public.

Don't walk....RUN!
June 19, 2017
This firm doesn't even deserve a one star. My father had a account that was set up as a trust and wanted to transferred it to another firm. They screwed up so bad on the transfer, that he ended up getting a check with taxes already taken out if. Rick Edelman firm agreed they screwed up but declined to make it right. Don't even think of putting a penny of your money with these guys. RUN now while you have the chance.

Scam of a company
March 19, 2015
Dealt with John McCoy of Edelman Financial in VA...complete scam artist. Promised one thing but at the end of the day he wanted to just make commissions and almost made me lose all my money. Stay aware from this company...complete scam artists.

Itzik Atia May 06, 2015

PLEASE NOTE: I have settled all my issues with Edelman and want to revert my latest claims. I have dealt with John McCoy as a professional contractor and though we have had some disputes, they are now resolved. I do not wish my previous claims to seem as if John sold my investments [he does not sell securities], rather I meant to say we had a disagreement which lead to me losing commissions at my job. I have contacted the website and asked for removal of previous comment.

LindaThompson October 19, 2021

Sorry, Mr. Atia. The bottom line is that EFS is a major ripoff, and it's sad to read all these bad ratings on them (as well as on other sites). You all should have gone to Charles Schwab. I've been with them 25 years. I have five accounts there and pay basically NOTHING in fees.

I'm tired of being a sucker, , ,
September 3, 2013
I can't remember where the inspiration came from, , , but one day I woke up and decided that I was tired of being a sucker, , , I went to bob brinker, , I went to suzy orman, , , I did my homework, It was like playing golf , , Now I know my trade , , ,

Sally Wood
May 24, 2013
I would love to meet this Sally Wood chick, she seems a bit psycho, but sure knows how to hold a grudge. She also really likes commas. As far as Edelman, I enjoy his radio show and think he gives good advice, but I wouldn't pay the fees for him to manage my money, you can easily do it yourself with little experience.

Sally W September 13, 2013

I agree. Probably a competitor trying to stir up trouble.

Sallywood January 11, 2022

nope sally wood is right. rics nrw program is boring and his wife with her letters is a bust..i turn the radio off when she comes on..this new show is a flop

eldleman OUT
April 7, 2013
ric edleman is interesting on the radio and he is a good saleman,,, but be aware ,, He wants your dough,,, learn the trade and do your homework,,, use www.bob brinker.com and learn to invest your dough yourself,, rather than be subject to this edleman shark attack,, he had got to have a high lifestyle ,, and all of your are backing,it,, like suzy orman ,, learn ,,, study,,, and do your own thing,, like paying golf,, learn the game before you put your dough out there for people like rick edleman to get fees off your hard earned money,,, wake up sucker

December 16, 2012
I never dealt with Ric Edelman. I used to listen to his show, and the thing that I can't get off my mind is that he used to advise home owners to carry as big a mortgage as possible, and invest their money in the market. I used to yell at the radio whenever he repeated that advice. And that was a short few years before the housing and stock market crash.

Sally w April 07, 2013

I agree,,,this edleman charges a high fee to invest your money in funds you can do yourself,, use bob brinker.com for one hundred eightfive bucks you can get his yealy newsletter and do it yourself,, I have made nothing but dough,,, never give anyone your dough

Frank N November 20, 2013

What Ric says about mortgage makes sense. Lets say you paid off your mortgage. You have lots of equity. You lose your job so you need access to the equity. Apply for a mortgage when you have no job? Good Luck. His point is to have liquid assets. Home equity is not always liquid. Many are house rich cash poor. That is the heart of his mortgage advice.

November 3, 2012
Had Ric's firm manage my IRA for 8 years. I never made any money. I finally dropped him earlier this year. I could have done much better by investing in an index fund. His fees are much higher than other advisers.

Sally w April 07, 2013

yep this edleman is a salesman ,,, and nnevr pay anyone to jnvest your dough,, learn yourself ,, and if you don't have the time,,, try bob brinker and put it in a vanguard total stock market index etc,,, learn the rules and get off your back end and save and invest your money

**** May 12, 2013

you work for Vanguard?

Frank N November 20, 2013

Well diversified up 25% since late 2011 with Edelman

Mark S. October 27, 2014

Frank do you work for Edelman?

DanielGreen June 08, 2021

I have a very large amount of money with Rick and we have been up from 18% to 25 % in our different accounts......This in over the last 18 months.....Accounts took a hit March 2020 but rebounded and took off even more.....Fees are up front and they make money if you make money....we both made money. Remember if you did not make a large % it's because your risk tolerance is low, mine was moderate and we made money!!

October 12, 2012
After suffering years of losses and poor advice from Goldman Sachs, I moved most of my portfolio (in excess of 4 million dollars) to Edelman. I track this stuff like a hawk. My returns are in excess of 9% annually (net fees). Outperforming Dow and in the range of S &P with far lower risk. I don't know what the noise is about. I've been around and these guys give valuable, sound advice.

Sally w April 07, 2013

yeah valuable and expensive ,,, sucker ,, learn to invest your own dough

Mike May 12, 2013

What year did you move the money to Ric Edelman?

July 29, 2012
Think all this guy does is sell managed money accounts. He gets paid in bad and good markets. Seems like a carnival poser.

April 11, 2012

We are on the fence. With reward comes risk...I understand that. The fee structure Edelman charges is what it is....but I believe that one would have to see three times what they were reasonably earning with their own efforts in order to justify and absorb such lofty fees. Example: If I am paying 6K in fees to Edelman every year that is approx. $120k in 20 years just in fees...I'd want to see 240k MORE than I was already seeing at the end of that 20 years to justify that outlay. And at the time of retirement..it's too late to say "whoops" I guess going with them really was just in their favor mostly! They do not boast excellent returns, they are on the side of growing and retain ing the most they can of what you give them to work with. Tis a roll of the dice and a healthy retirement nestegg lay in the balance.

Why, if their method is so great , if constant re-balancing is the "way to go" then why don't they offer views of like kind investments for prospective clients to view. Who has done well by them? Where are you? How much did you plunk down and say to them " here...grow this into a healthy retirement" And what is it's balance now? Be honest....Many of us out here are jobless and our retirement and the quality of that retirement rests on good intel. Well..I'll be waiting!

Sally w April 07, 2013

you are an idiot,, you looked for the lazy way out and went with edleman,,, and he took your dough,, go to www.bob brinker.com and learn to invest your dough,,, like playing golf,, learn the rules before you play,, what an idiot to give this clown your hard earned dough,, wake up and smell the roses ,, sucker

*** May 12, 2013

@ sally wood....Have a vendetta? Jodi Arias anyone?

DanielGreen June 08, 2021

We gave Rich $200,000 to invest to test him out. They were up front about fees and they are based on balances. My 200K seed money made about 18.5% We then added an additional $75K to the account.....base investment is $275K my balance now is $335,764.70 over $60,000 Net earnings after fees do the math! MODERATE RISK Strategy.....We have since moved more money to Rich in excess of $500K Total.

March 20, 2012

It is unfortunate for David M. that he opened his account with Edelman the year the market peaked. The following year the S&P dropped 38 percent. At a loss of 6%, it is still better than the S&P that is down 9%. David should look at the market numbers then and now before he points the finger at Edelman. I joined Edelman financial in April 2008 and I am up 7%. had I joined the following year, I would have gained more than 20%. When you invest for the long term, you need to be patient and not jump to conclusions because doing so gives false impressions to those reading these reviews.

No, I don't work for Edelman, just being objective having the facts.

Sally w April 07, 2013

and you are probably a shill for edleman

Ralph J September 13, 2013

oh, but your NOT one for Brinker (hypocrite)

Jose March 14, 2014

Heck I have been with Edward Jones 5 years with an avg return over 20% and LPL for 10 year with an avg return of just under 20%..... Think I will stick with them

January 27, 2012
I put $6K into Ric Trust for my son in Jan of 1999 as of today Jan of 2012 it has gained $800.00. I could have gotten more in a savings account!

Sally w April 07, 2013

you didn't do your homework,,, took the easy way out,,, never pay ,, do it yourself and study,,, get it,,,???? sucker

Ralph J September 13, 2013

So, Sally, my dear, just wondering who will manage your money when you're sick or disabled? Oops, guess You're the "sucker" on that one.

Oh, and one more thing, just what exactly will you do when good old Bob kicks the bucket? He's getting up there. Just askin, since you seem to have all the answers. But I'm sure you'll have a "cute" response to this as well

Good luck doin it on your own.

Sallywood January 11, 2022

not ric edelman and his horrible new show and his boring wife..we want to hear about financial not much medical which we get all day long on tv..your new show

Sallywood January 11, 2022

made a fortune on his advice sir

January 13, 2012
Been with Edelman since April 2007. The staff is super, but the returns are poor -6.38% to date. This includes the 2.0% fee the firm charges. Edelman argues that they do better than most indexes (e.g. we lose less of your money than the competition) By the way, the brokerage firm that Edelman uses, T.D. Ameritrade, charges you fees. Just transfer money and you will get a $50 fee. I think Rik Edelman makes most of his money selling book and being on the radio.

Sally w April 07, 2013

your got that right son,,, he is a salesman,, learn your trade and if you need scottrade or invest direct in the company,,, like vanguard total stock market index,,, you are a sucker and lazy at learning your money trade,, wake up and smell the roses ,,, sucker ,, sucker born everyday

Ralph J September 13, 2013

Boy, you're on a roll Sally (if that's even your real name). Its not even worth responding to you any more.

Have fun bashing Edelman (meanwhile he'll go on helping thousands of people - oh and last I checked his firm now manages close to $11Billion and ranked #1 3 times by Barrons. But I guess your're smarter than everyone else (including Barrons - good luck with that!

October 9, 2011
ric edleman has a lot bad reviews on finra.org and I find that his morris harris group are sharks...not someone that is a good find

Sally w April 07, 2013

try bob brinker.com or suzy orman,,, learn your trade,,, sucker

Ralph J September 13, 2013

Suzy Orman- Really Sally!!?? (or should I call you Jim or Frank)

Good luck with that one.