Feeling ready to make a move in your investment portfolio? Perhaps you've reached a financial goal, decided to rebalance, or simply want to take some profits off the table. Whatever your reason, selling stock on the Edward Jones app is a process that can be managed with a few key steps. While the app offers a convenient way to view your holdings and account activity, it's crucial to understand that Edward Jones primarily emphasizes personalized advice and direct communication with your financial advisor for placing trades. This means that while you can monitor your investments, you generally cannot directly execute buy or sell orders for stocks through the Edward Jones mobile app itself. Instead, the app acts as a powerful tool for staying informed and preparing for your conversations with your advisor.
This comprehensive guide will walk you through how to navigate the Edward Jones app to get ready to sell, and then, most importantly, how to effectively communicate with your Edward Jones financial advisor to execute your stock sale. Let's get started!
Understanding the Edward Jones Approach to Trading
Before we dive into the steps, it's important to reiterate: Edward Jones operates on a model that emphasizes the relationship between you and your dedicated financial advisor. Unlike some self-directed brokerage platforms where you directly place trades, Edward Jones believes in providing personalized guidance. This means that for security and advisory reasons, direct stock trading functionality (like an "execute trade" button for individual stocks) is typically not available within the Edward Jones mobile app. Your advisor is there to help you make informed decisions, considering your overall financial picture and goals.
Preparing to Sell Stock on the Edward Jones App: A Step-by-Step Guide
While you won't be hitting a "sell" button on the app for direct execution, the Edward Jones app is an invaluable tool for preparing for your sale. Here's how to use it effectively:
Step 1: Download and Log In to the Edward Jones App
First things first, let's get you set up! If you haven't already, head to your device's app store (Google Play Store for Android or Apple App Store for iOS) and search for "Edward Jones."
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Download the App: Look for the official Edward Jones app and tap "Install" or "Get."
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Launch the App: Once installed, open the app.
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Log In: You'll need your Edward Jones Online Access User ID and password. If you haven't set up Online Access yet, the app usually provides a "Sign Up" option. You'll typically need your account number, date of birth, and the last four digits of your Social Security Number (or equivalent identification in your region) to verify your identity. Remember to keep your login credentials secure!
If you've forgotten your User ID or password, the app usually has a "Forgot User ID or Password" link to guide you through the recovery process.
Step 2: Navigate to Your Account Holdings
Once you're logged in, you'll typically land on a "Snapshot" or "Summary of Accounts" page, which gives you a high-level overview of your investments.
- Locate Your Accounts: At the bottom of the app screen, you'll often see tabs like "Accounts," "Goals," "More," etc. Tap on the "Accounts" tab.
- Select the Relevant Account: If you have multiple Edward Jones accounts, you'll see a list. Tap on the specific account that holds the stock you wish to sell.
- View Security Holdings: Within the selected account, look for a section or tab typically labeled "Security Holdings," "Investments," or "Holdings." This is where you'll see a detailed list of all the investments held within that particular account, including your stocks.
Step 3: Identify the Stock and Gather Key Information
Now that you're looking at your holdings, it's time to pinpoint the specific stock you want to sell.
- Find the Stock: Scroll through your list of holdings to locate the stock you're interested in selling.
- Tap on the Stock for Details: Tapping on the individual stock will usually bring up a more detailed view. Here's what you should pay attention to:
- Current Market Value: This will show you the current price of the stock. Keep in mind that stock prices fluctuate throughout the trading day.
- Quantity Held: This is the number of shares you own.
- Cost Basis (if available): While not always prominently displayed for every investment type on the main app screen, knowing your cost basis (the original price you paid for the stock) is crucial for tax purposes when you sell. If it's not readily visible, your advisor can provide this, or you can find it on your account statements.
- Gain/Loss: The app may show you the unrealized gain or loss on your position. This is the difference between your cost basis and the current market value.
Step 4: Consider Your Selling Strategy and Goals
Before you pick up the phone, take a moment to think about why you're selling and what you want to achieve. This will help you have a more productive conversation with your advisor.
- Partial vs. Full Sale: Do you want to sell all of your shares of this stock, or just a portion?
- Desired Price: Do you have a target price in mind at which you'd like to sell? This might influence the type of order you place (e.g., a limit order).
- Purpose of the Sale: Are you selling to rebalance your portfolio, generate cash for a specific need, or cut losses? Knowing your motivation will help your advisor provide tailored advice.
- Tax Implications: Selling stock can have tax consequences (capital gains or losses). Your advisor can discuss these with you.
Step 5: Contact Your Edward Jones Financial Advisor
This is the most critical step for selling stock through Edward Jones. As mentioned, direct trading isn't typically available on the app.
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Find Your Advisor's Contact Information: The Edward Jones app often prominently displays your financial advisor's name and contact information. Look for this on the main "Summary of Accounts" page or within a "Contact Advisor" section.
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Call Your Advisor: The most direct and recommended method is to call your financial advisor's office directly. Explain that you wish to sell a specific stock and provide the details you gathered in Step 3.
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Discuss Your Order Type: Your advisor will guide you on the different types of sell orders:
- Market Order: This instructs your advisor to sell your shares immediately at the best available market price. This is generally the fastest way to sell, but the exact price you receive may vary slightly from the current quote due to market fluctuations.
- Limit Order: This instructs your advisor to sell your shares only when the stock reaches a specific price or higher. This gives you more control over the selling price but there's no guarantee the order will be executed if the price isn't met.
- Stop Order (or Stop-Loss Order): This becomes a market order once the stock price falls to a certain level. Used to limit potential losses.
- Stop-Limit Order: Similar to a stop order, but once the stop price is triggered, it becomes a limit order at a specified limit price.
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Confirm the Trade: Your advisor will confirm the details of your trade, including the stock symbol, the number of shares, and the order type. Always double-check these details before confirming the trade.
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Receive Confirmation: After the trade is executed, you will receive a trade confirmation from Edward Jones, either electronically or by mail. You can also typically view executed orders within the "Account Activity" or "Account Orders" section of the app within a day or so.
Step 6: Monitor Your Account Activity on the App
After you've placed the order with your advisor, you can use the Edward Jones app to monitor the status of your sale and see the proceeds.
- Check Account Activity: Within the app, navigate to the "Account Activity" or "Account Orders" section for the relevant account. You should see the pending or executed sell order.
- View Updated Holdings: Once the sale is settled (which usually takes a few business days), your "Security Holdings" will reflect the updated quantity of shares, or the stock will be removed if you sold all of your shares. The cash proceeds will appear in your account.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions, starting with 'How to', with their quick answers:
How to check my stock balance on the Edward Jones app?
- To check your stock balance, log in to the Edward Jones app, tap on the "Accounts" tab at the bottom, select the specific account, and then navigate to "Security Holdings" or "Investments."
How to see my investment performance on the Edward Jones app?
- The app's "Snapshot" or "Summary of Accounts" typically provides a high-level overview of your performance. For more detailed insights, explore the "Performance" or "Account Activity" sections within your chosen account.
How to find my Edward Jones financial advisor's contact information on the app?
- Your financial advisor's contact information is usually displayed prominently on the main "Summary of Accounts" screen when you log in, or within a dedicated "Contact Advisor" section in the app.
How to transfer money after selling stock on the Edward Jones app?
- While you can't directly initiate a bank transfer of the proceeds from the app, you can view your cash balance. To transfer funds, you'll need to contact your Edward Jones financial advisor, who can assist you with setting up direct deposits or transfers.
How to view past trade confirmations on the Edward Jones app?
- You can typically find past trade confirmations within the "Documents" section of the app, under "Trade Confirmations," or sometimes within the "Account Activity" section.
How to set up an Edward Jones Online Access account?
- You can set up an Online Access account directly through the Edward Jones app by tapping "Sign Up" on the login screen, or by visiting the Edward Jones website and following the sign-up prompts. You'll need your account number and personal identification details.
How to reset my password for the Edward Jones app?
- On the login screen of the Edward Jones app, tap the "Forgot user ID or password" link and follow the on-screen instructions to reset your password. You'll typically need to verify your identity.
How to check market news and insights on the Edward Jones app?
- The Edward Jones app usually has a section or tab dedicated to "Market News and Insights" or similar, where you can find market data, news articles, and economic updates.
How to connect outside accounts to my Edward Jones app?
- The Edward Jones app often allows you to connect accounts held outside of Edward Jones to get a more holistic financial view. Look for a "Connect Accounts" option within the "Accounts" section of the app.
How to get help if the Edward Jones app is not working?
- If you're experiencing issues with the Edward Jones app, first try restarting the app or your device. If the problem persists, contact your Edward Jones financial advisor, or refer to the "Help" or "Support" sections within the app or on the Edward Jones website for technical assistance.