Edward Jones is a registered broker-dealer and investment adviser. As an investment adviser, Edward Jones offers several advisory programs. This brochure (“Brochure”) provides clients (“client,” “you” or “your”) with information about Edward Jones, Edward Jones Guided Solutions® Flex Account (“Guided Solutions Flex”), the fees charged for our services and our business practices. You should read this Brochure carefully and consult with your tax professional before you decide to invest in Guided Solutions Flex.
Other advisory programs offered through Edward Jones are not described in this Brochure. These programs offer different services and investments and some have different fees and minimum investment requirements. Certain programs or offerings are only available through select financial advisors. To learn more about other advisory programs offered by us, please ask your financial advisor or go to www.edwardjones.com/advisorybrochures to review the brochures for the available advisory programs.
Because Guided Solutions Flex is an investment advisory service offered by Edward Jones as an SEC-registered advisor, Edward Jones has a fiduciary duty to act in your best interest and to abide by the duties of care and loyalty under the Investment Advisers Act of 1940 when providing Guided Solutions Flex to you. Other services you obtain through Edward Jones, including other investment advisory and brokerage services, are separate and distinct from Guided Solutions Flex and each is governed by separate arrangements that we may have with you. Brokerage services are subject to different laws than investment advisory services. The specific services provided to you, our relationship with you and our legal duties to you in each arrangement are described in our applicable agreements with you and the disclosures we provide to you in connection with those services.
Edward Jones is the primary operating subsidiary of The Jones Financial Companies, L.L.L.P. (“JFC”), a holding company registered as a partnership with the State of Missouri. Edward Jones registered with the SEC as a broker-dealer in 1941 and as an investment adviser in 1993. Edward Jones became a member of the National Association of Securities Dealers (“NASD”) (now known as the Financial Industry Regulatory Authority (“FINRA”)) in 1939.
As of December 31, 2023, we managed $289,673,344,599 in discretionary assets and $402,574,903,909 in non-discretionary assets across all of our advisory programs.
The decision to invest in Guided Solutions Flex is yours. Before making this decision, you and your financial advisor should discuss whether other programs or investments may be more appropriate for your investment goals or needs. If you decide to invest in Guided Solutions Flex, we will not begin providing you advisory services until (a) our acceptance and approval of a written Client Services Agreement (“CSA”) between you and Edward Jones, and (b) funding of the account at the initial minimum investment as determined by Edward Jones.
Before investing in Guided Solutions Flex, you should decide if you are comfortable assuming responsibility for the day-to-day management of your account. Investors in Guided Solutions Flex typically:
• Want to be involved in the investment process and approve final trade decisions
• Value the receipt of ongoing advice from Edward Jones when making investment decisions
• Desire a disciplined approach to long-term investing and are willing to adhere to an asset allocation strategy aligned with Edward Jones’ guidance
• Are comfortable paying monthly, asset-based (percentage) fees for investments and advice rather than individual, transaction-based commissions or sales charges In evaluating fee-based advisory programs, you should consider a number of factors. You may be able to obtain some or all of the same or similar investments and/or services available through this and other fee-based advisory programs separately through Edward Jones or another broker-dealer or investment adviser.
You should consider that, depending on the circumstances, the aggregate fees you will pay for investing in Guided Solutions may be lower or higher than if you purchased the investments or services separately at Edward Jones or through another broker- dealer or investment adviser. Guided Solutions Flex accounts and other advisory accounts offered through Edward Jones provide ongoing investment advice for an asset-based fee, rather than charging commissions for transactions in your account. Brokerage accounts, on the other hand, can charge commissions for transactions and typically provide investment advice that is point-in-time and solely incidental to the brokerage services provided. As a result, important factors to consider are the amount of trading activity you have in your accounts and the corresponding commissions that would be charged if you bought and sold individual securities in a brokerage account, as well as the type of advice you desire. You also may experience different performance results or tax consequences from what you would by purchasing the investments separately or through another broker-dealer or investment adviser. For example, the Guided Solutions Flex fees described below will reduce the return you earn on investments held in your account. If the Guided Solutions Flex fees exceed the overall return on your investments, you will experience negative performance in your account. Additionally, it typically will cost you more, and Edward Jones and its financial advisors will receive more revenue, when you hold duration- based investments to maturity or over time in a Guided Solutions Flex account rather than in a commission-based brokerage account at Edward Jones (e.g., Certificates of Deposit (“CDs”), bonds and cash equivalents).
Guided Solutions Flex Overview Guided Solutions Flex is a client-directed advisory program sponsored by Edward Jones designed to provide the client with ongoing investment advice, guidance and services for an asset- Page 4 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD based fee. The Guided Solutions Flex experience is rooted in the working relationship between you and your Edward Jones financial advisor. In consultation with your Edward Jones financial advisor, you will select an appropriate portfolio objective for your Guided Solutions Flex account (your “Account Portfolio Objective”).
Selecting Your Account Portfolio Objective. In order to invest in Guided Solutions Flex, you will complete a Client Profile that contains important information about your account, which generally includes either your goal or purpose for investing and your investment time horizon, risk tolerance and other financial information. Your time horizon will reflect the expected time frame over which you plan to invest (and potentially withdraw) your assets to achieve your investment goal or purpose. Time horizon is expressed as either your life stage or the number of years you plan on accumulating and/or distributing your assets.
If your account is not assigned to a goal established at Edward Jones, then we will recommend an account portfolio objective for your account based upon the level of investment risk you are willing to take (your risk tolerance or comfort with risk) and the expected time horizon for your investments. If your account is assigned to a goal established at Edward Jones, then we will recommend that you select an Account Portfolio Objective that is appropriate for the portfolio objective you selected for your goal (your “Goal Portfolio Objective”).
You may choose an alternative Account Portfolio Objective if you are willing to take more or less risk than the recommended Account Portfolio Objective. You ultimately decide whether you want to select the recommended Account Portfolio Objective or an alternative Account Portfolio Objective, if available.
Edward Jones will have no authority to change your Account Portfolio Objective without your instruction. To change your Account Portfolio Objective, you must meet with your financial advisor to select a new Account Portfolio Objective. Your Account Portfolio Objective determines the recommended asset allocation and investment category ranges (“Target Ranges”). In addition, Edward Jones’ applies certain guidelines designed to monitor your Guided Solutions Flex account for alignment with your Account Portfolio Objective (“Investment Diagnostics”). The Investment Diagnostics pertain to certain factors including, but not limited to, asset allocation, security and equity sector concentration, bond diversification and fixed-income laddering. One or more Investment Diagnostics assess holdings in your other Edward Jones accounts, if any, assigned to the same goal as your Guided Solutions Flex account. Please contact your financial advisor to learn more about how Investment Diagnostics help you achieve your financial goals. The recommended Target Ranges, as well as Investment Diagnostics, are determined solely by Edward Jones and can be modified by Edward Jones without prior notice.
Account Portfolio Objectives in Guided Solutions Flex currently include: All-Equity Focus: This portfolio objective offers the highest long-term growth and rising dividend potential. It focuses on long-term capital appreciation and provides very little to no current interest income. It also has the highest level of risk, as it contains only equity investments.
Growth Focus: This portfolio objective emphasizes higher long-term growth and rising dividend potential, while providing modest current interest income. Over the long term, it should have higher risk than portfolios with a more income-oriented objective.
Balanced toward Growth: This portfolio objective emphasizes higher long-term growth and rising dividend potential, with a secondary goal of current interest income. Over the long term, it should have moderate to higher risk.
Balanced Growth & Income: This portfolio objective has a balanced emphasis between current interest income and long-term growth with rising dividend potential. Over the long term, it should have moderate risk.
Balanced toward Income: This portfolio objective emphasizes current interest income while providing modest long-term growth and rising dividend potential. Over the long term, it should have lower to moderate risk.
Income Focus: This portfolio objective emphasizes current interest income with little long-term growth and rising dividend potential. Over the long term, it should have lower risk than portfolios with a more growth-oriented objective.
Edward Jones constructs and periodically reviews the recommended Target Ranges for each Account Portfolio Objective in Guided Solutions Flex. Due to various influences such as changing market conditions or a reclassification of an Eligible Investment (defined below) to a different asset class, we may change the Target Ranges of an Account Portfolio Objective. If we change the Target Ranges for your Account Portfolio Objective, we will notify you to restore the alignment of your investments with your Target Ranges, if necessary. For more information, see “Account Alignment” below.
After you have selected your Account Portfolio Objective, you may choose from among the investment options available for Guided Solutions Flex (“Eligible Investments”) to implement your Account Portfolio Objective.
When analyzing investments and developing recommendations that may be appropriate for your account, we rely on a variety of different sources of information. Such sources may include research developed by Edward Jones that covers a wide range of Eligible Investments and investment research reports issued by firms that are not affiliated with us.
In addition, we may use certain Edward Jones investment tools as a preliminary basis for recommending certain Eligible Investments that align with your Account Portfolio Objective. The use of such investment tools does not guarantee the performance of your account or any investments therein or protect against potential investment losses.
You decide how much to invest in each Eligible Investment within the Target Ranges. You are also responsible for directing the buying and selling of Eligible Investments in your account as Page 5 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD necessary to bring your account into alignment with the Target Ranges for your Account Portfolio Objective.
You are responsible for all trading and investment decisions in your account and should not rely solely on the recommendations of Edward Jones or your financial advisor in choosing among Eligible Investments. Neither Edward Jones nor your financial advisor will have discretionary authority for any trading or investment decisions in your account, except as otherwise described in this Brochure.
Eligible Investments. Through Guided Solutions Flex, clients can choose from an extensive list of Eligible Investments selected by Edward Jones that primarily includes stocks, bonds, affiliated mutual funds, unaffiliated mutual funds and exchange-traded funds (“ETFs”) across a variety of asset classes, as well as bonds, CDs, and cash equivalents. “Affiliated mutual funds” refers to mutual funds managed by an affiliate of Edward Jones, which consist of the Bridge Builder family of mutual funds (“Bridge Builder Funds”) and the Edward Jones Money Market Fund (“Money Market Fund”). Generally, you may purchase affiliated mutual funds in Guided Solutions Flex. However, Edward Jones prevents the purchase of certain affiliated mutual funds unless you already hold shares of those mutual funds and transfer them into your Guided Solutions account(s). However, Edward Jones, in its sole discretion, may make exceptions based on the particular facts and circumstances of your situation. Please note that Eligible Investments for Guided Solutions Flex may not be offered in Edward Jones Guided Solutions® Fund accounts or our other advisory programs. Certain Eligible Investments are only available in taxable accounts.
The Edward Jones Money Market Fund is affiliated with Edward Jones but is not available to purchase as an Eligible Investment for Guided Solutions Flex. However, cash balances awaiting investment or reinvestment in your account will be automatically swept into the Edward Jones Money Market Fund, where they will be held until invested in another Eligible Investment. The portion of your Guided Solutions Flex account that is invested in the Edward Jones Money Market Fund will be included in the calculation of your Guided Solutions Flex Fee (defined below). Please refer to Appendix A for more information about the Edward Jones Money Market Fund.
Please read this Brochure carefully to understand the differences between affiliated mutual funds and unaffiliated mutual funds, including additional conflicts of interest that Edward Jones is subject to in connection with recommending affiliated mutual funds and how such conflicts are addressed. Bridge Builder Funds and the Money Market Fund are affiliated with Edward Jones.
Your asset allocation may include a cash allocation held in the Money Market Fund through the cash sweep feature described above and/or invested in a third-party money market fund. In certain instances, such as instances of market volatility or uncertainty, you may determine with your financial advisor to increase the amount of cash you hold in your portfolio. The portion of your Guided Solutions Flex account that is held in cash will be included in the calculation of your Guided Solutions Flex Fee. CDs are treated as fixed-income investments for purposes of your asset allocation and not cash.
Some Eligible Investments are sustainable investments that are categorized as environmental, social and governance (“ESG”) investments or values-based investments. Sustainable investments have subjective qualities and characteristics and may or may not align with your beliefs, values, or desired investment performance. Please contact your financial advisor if you are interested in learning more about sustainable investments available for Guided Solutions Flex and the associated risks.
There is no guarantee that an Eligible Investment will perform in any particular manner. Past performance is not a guarantee of future results. Details about the mutual funds and/or ETFs in your account can be found in the prospectus, statement of additional information (“SAI”) and shareholder reports for each mutual fund and ETF (collectively, “fund prospectus and other fund documents”). It is important that you read these documents before investing.
Investment restrictions may prevent or limit the purchase or continued purchase of certain Eligible Investments. Situations include, but are not limited to, restrictions that prevent purchases of an Eligible Investment and restrictions that only permit current holders of the Eligible Investment to continue making purchases, subject to parameters set forth by Edward Jones.
Ineligible Investments. You will not be able to hold any investment in your account that Edward Jones has deemed ineligible for Guided Solutions Flex (“Ineligible Investments”) or that is unavailable for your Account. In the event that Edward Jones re-categorizes an investment from an Eligible Investment to an Ineligible Investment, Edward Jones will notify you, and you must instruct Edward Jones to remove the investment from your account within the time frame established for Guided Solutions Flex, as determined by Edward Jones, in our sole discretion.
Until the Ineligible Investment is replaced, there is a possibility that additional shares of the Ineligible Investment may be purchased. Such purchase(s) may occur in certain instances including, but not limited to, when dividend reinvestments occur. The purchase of additional shares of an Ineligible Investment and the eventual mandatory removal of such shares may result in a taxable event.
If you do not provide instructions to remove an Ineligible Investment within the time frame established by Edward Jones, your account will be removed from Guided Solutions Flex. See “Termination of Guided Solutions Flex Services” for more information.
Account Alignment. Edward Jones will review your account periodically and notify you when your account is out of alignment with the Target Ranges or Investment Diagnostics for your Account Portfolio Objective. If your account is out of alignment for any reason, including, but not limited to, market volatility, an investment becoming an Ineligible Investment for Guided Solutions Flex and/or the purchase or sale of an investment, you will be responsible for realigning your account within the time frame established for Guided Solutions Flex as determined by Edward Jones. To realign your account, you must provide Page 6 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD instructions to Edward Jones to buy one or more investments in your account, to sell one or more investments and reinvest the proceeds in your account, to sell an investment and transfer the proceeds to another account, to transfer an investment to another account or to deposit additional assets in your account. Such transactions may result in tax consequences as well as additional fees and expenses.
Your Guided Solutions Flex account does not offer an automatic rebalancing feature. In the event you do not provide instructions to Edward Jones to realign your account within the required time frame, your account will be removed from Guided Solutions Flex.
Your financial advisor is not responsible under the terms of Guided Solutions Flex for monitoring your other Edward Jones accounts, if you have them, on an ongoing basis. However, if you have multiple Edward Jones accounts that are linked to a Goal Portfolio Objective, your financial advisor may recommend that you consider placing a trade in one or more of your other Edward Jones accounts, rather than realigning your Guided Solutions Flex account, in order to address certain Investment Diagnostics.
Additionally, at times, Investment Diagnostics limit or restrict certain transactions in your account or require you to realign your account with our guidance, including, but not limited to, Target Ranges. If you are limited or restricted from purchasing a security in your Guided Solutions Flex account, you may elect to purchase, or based on your specific situation, your financial advisor may recommend you purchase the same security in an Edward Jones brokerage account. When you place trades in a brokerage account that could be placed in your Guided Solutions Flex account or another fee- based investment advisory account at Edward Jones, a conflict of interest exists as Edward Jones and your financial advisor will earn compensation on the transactions, such as commissions and/or mark-ups or mark-downs, that you would not bear if such transactions were placed in your Guided Solutions Flex account or another fee-based account at Edward Jones. Such transaction fees would be in addition to the asset-based advisory fee that you pay for assets held within your Guided Solutions Flex account or other fee-based account at Edward Jones.
Brokerage Services. You are solely responsible for all trading decisions in your account, and Edward Jones will execute trades only at your direction, except as otherwise described in this Brochure. When Edward Jones executes trades for your account, we are not acting as an investment adviser, but solely as a broker-dealer. Trading in your account will be subject to our trading policies and practices. You will not be charged trade commissions or mark-ups for Guided Solutions Flex trades. However, Guided Solutions Flex may cost you more or less than purchasing advisory services and brokerage services separately, depending on certain factors such as the frequency of your trading. You cannot request that your orders be executed through another broker-dealer. Not all investment advisers require their clients to execute their trades through a certain broker-dealer as we do.
Trade Allocation. Some Guided Solutions Flex trades may be combined with trades for other client accounts and executed in aggregated block trades. From time to time, the volume and/or number of trades that are directed by clients to be executed for Guided Solutions Flex accounts may exceed Edward Jones’ operational and technological capacities if these trades are directed on a single day. For example, this may occur if Edward Jones is re-categorizing an investment from an Eligible Investment to an Ineligible Investment. In order to maintain the orderly processing of trades and to minimize the incidence of errors, Edward Jones may allocate trades based on the time of order entry. In certain circumstances, this process may take several days or weeks. Although designed to be fair and equitable over time, this may result in clients receiving different prices. In addition, if the volume or size of redemptions required to be effected as a result of re-categorizing a mutual fund from an Eligible Investment to an Ineligible Investment exceeds the limits set forth in the mutual fund’s trading policies and procedures, the mutual fund may exceed the standard settlement period to process redemptions or may redeem positions in-kind. In such circumstances, client assets may not be fully invested and may be subject to market risk between the redemption date and the reinvestment of the assets. Alternatively, Edward Jones may rely on a random allocation process to effect the redemptions over time in a manner consistent with the limits set forth in the mutual fund’s trading policies and procedures.
Trade Errors. In certain circumstances, trade errors may occur in your account. When a trade error occurs that is caused by the actions of Edward Jones, we will work to promptly correct the error while ensuring your account is not disadvantaged.
It is Edward Jones’ policy to use an Edward Jones error account to correct trades. This may result in trades between your account and an Edward Jones error account. If trade errors are caused by your actions and the process of correcting the errors results in a net loss in the error account, your account will be debited for the amount of such loss. If the process of resolving trade errors results in a net gain in the error account, as accrued and calculated on a periodic basis, we will donate the amount of such gain to charities chosen by Edward Jones.
Principal Trading. Edward Jones may execute trades for Guided Solutions Flex accounts as principal by selling a security from our inventory to you or purchasing a security from you for our inventory. Principal transactions include certain transactions that you have directed Edward Jones to execute in a principal capacity, fractional share liquidations and corrections of trades originally executed in an agency capacity.
Principal transactions cause a conflict between Edward Jones’ and your interests, including when Edward Jones generates additional revenue due to market movement, resulting in gains on our inventory positions. Edward Jones also has an incentive to recommend the purchase of a security held in our inventory that is difficult to sell, a conflict addressed by Edward Jones’ policies and procedures. In certain principal transactions, Edward Jones will provide required disclosures and obtain your verbal consent prior to the trade.
Page 7 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD Margin Loans. Eligible non-retirement account clients may obtain margin loans collateralized by marginable securities held in their accounts. Margin loans for Guided Solutions Flex accounts may be used for “Personal Line of Credit Loans” or “Overdraft Coverage,” but may not be used for the purpose of purchasing securities on credit. When Edward Jones extends a margin loan to you, it is not acting as an investment adviser but solely as a broker-dealer. In making the decision to take out a margin loan, it is important you understand the risks associated with using margin, the costs of margin loans, and how the performance of your account may be negatively affected. Please see the Edward Jones Margin Disclosure Statement and the Statement of Credit Terms (the “Margin Disclosure”) for a discussion of the risks as well as “Margin Risk” below before taking out a margin loan. The Margin Disclosure also includes a discussion of the costs of margin loans. As discussed below, you will pay interest charges on your margin loans in addition to the Guided Solutions Flex Fee (defined below). Before taking out a margin loan in your Guided Solutions Flex account, first evaluate the intended duration of the loan and your other options, including alternative loan options or liquidating securities. It is our view that margin loans are most appropriate when short in duration. To the extent that a margin call is triggered in connection with your account and we are forced to sell any securities or other assets to satisfy the margin call, we will act solely in our capacity as a broker-dealer and lender (and not as an investment adviser). Moreover, if selling such securities in order to satisfy a margin call, we will prioritize our interest over your interests.
Custody. Assets in your account are held at Edward Jones as broker-dealer. However, if you have entered into an IRA Custodial Agreement with Edward Jones Trust Company (“EJTC”), assets in your IRA will be held at EJTC. EJTC has delegated its duties and responsibilities as a custodian to Edward Jones as sub- custodian.
As custodians, Edward Jones and EJTC are responsible for:
• Safekeeping your funds and securities
• Collecting dividends, interest and proceeds from any sales
• Disbursing funds from your account Edward Jones (as broker-dealer) will provide all accounts with written trade confirmations of securities transactions and account statements for each month there is activity in the account. If EJTC is the custodian, the account statement will be sent by Edward Jones on behalf of EJTC.
Class Action Claim Filing

Service. Effective June 1, 2024, Edward Jones will partner with a third-party service provider to assist with recovery services by filing claims on your behalf in certain “Class Actions” related to securities and other financial instruments held in your account. “Class Actions” includes all U.S. state and federal class actions, Securities and Exchange Commission disgorgements, or other regulatory cases, as well as international class actions and/or collective actions involving publicly traded securities and financial instruments. As part of your CSA, you have provided limited power and authority to Edward Jones and/or the third-party service provider Edward Jones partners with to submit claims on your behalf, either directly or indirectly through such third-party service provider, including execution of necessary forms and documents. Pursuant to your CSA, you will be bound by, and subject to, the terms of all forms and releases that may be entered into for settlements in which a claim is filed on your behalf. In so doing, you appoint Edward Jones and/or the third-party service provider Edward Jones partners with as your administrative agent to process and administer your participation in such asset recovery cases as a class member. This Class Action Service is a separate administrative service, is not part of the advisory services offered in the Guided Solutions Flex program or covered by the Guided Solutions Flex Fee, and Edward Jones does not act in an advisory capacity when making this service available to you. Additionally, Edward Jones will not provide legal advice to you or any other party related to your participation in such Class Actions. Charges for the processing of class action claims shall be subject to a contingency fee assessed by the third-party service provider in the event a recovery is made. The contingency fee shall be a percentage of the total reimbursement of Class Actions settlements the third-party service provider collects. Additional service charges may apply related to the distribution and handling of payment if your account has been closed and a paper check and/or location services/escheatment is required. You will be automatically enrolled in the Class Action Claim Filing Service. However, you are not obligated to continue to provide Edward Jones with the authority to permit the third-party provider to process any such claims. Rather, you may opt out of this service and pursue such claims on your own by advising Edward Jones, in writing, of your intention to opt out of this third-party service.
Further terms and conditions applicable to this Class Action Claim Filing Service can be found at edwardjones.com/accountfeatures.
Please review your account statements carefully and notify us immediately if you detect an error or a discrepancy. Termination of Guided Solutions Flex Services. You or Edward Jones may terminate your participation in Guided Solutions Flex at any time without any advisory termination fee. While oral instructions to terminate your participation in Guided Solutions Flex are generally acceptable, Edward Jones, in our sole discretion, may require written notice in order to terminate Guided Solutions Flex advisory services for your account.
Upon notice of termination of your Guided Solutions Flex services, Edward Jones will no longer act as an investment adviser and will not be obligated to recommend any action with regard to the assets in your account, but you may instruct us to sell the securities or transfer the securities to another Edward Jones account or a third-party account. In the event of a transfer of mutual funds and/or fund share classes that cannot be held outside of your Guided Solutions Flex account, Edward Jones will (a) convert the mutual fund shares into a different share class before the shares transfer; and/or, (b) liquidate the mutual fund Page 8 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD shares and transfer cash. Edward Jones follows the instructions of mutual fund companies to convert the shares to a different share class or liquidate the shares when transferring mutual funds. Conversions could result in higher or lower fees and/or expenses than those paid under the previous share class and liquidations may cause a taxable event.
Bridge Builder funds are only available to be purchased or held in Edward Jones’ investment advisory programs and are not available to be held or purchased in an Edward Jones Select brokerage account or at another financial institution. Accordingly, any positions in Bridge Builder funds will be liquidated if you move from an Edward Jones advisory account to an Edward Jones Select brokerage account or account at another financial institution. The Edward Jones Money Market Fund is generally unavailable to be purchased or held outside of Edward Jones’ advisory programs. Accordingly, in many situations, any position in the Edward Jones Money Market Fund will be liquidated if you move from an Edward Jones advisory account to an Edward Jones Select brokerage account or account at another financial institution. Taxable gains, taxable losses, redemption fees or sales charges may be assessed upon the liquidation or redemption of securities. These fees and expenses may negatively impact your investment performance.
If you sell the assets in your account, your proceeds will be available upon settlement of the trades generated to complete the liquidation. Because bond markets may be less liquid, these investments may be more difficult to liquidate, especially during periods of extreme market volatility. Therefore, you may experience delays or adverse price fluctuations when liquidating these securities. If you instruct Edward Jones to liquidate equity securities in your account which include fractional shares, as an accommodation Edward Jones will purchase such fractional share(s) as principal into its own account at market value without a mark-up or mark-down. Edward Jones may make a profit on its inventory due to market movements.
Account liquidation may cause a taxable event as well as additional fees and expenses.
Upon notice of termination, if you fail to instruct Edward Jones as to the disposition of assets in your account, your account’s services will be significantly limited (“limited services account”). We will no longer act as a fiduciary to your account, and you can no longer rely on us to provide advisory services to your account. You will be able to receive distributions, liquidate securities, and withdraw funds from your limited services account, but you will not be able to purchase new securities or add to existing positions (except for the money market fund). Any transactions will be subject to fees, commissions and sales charges applicable to Edward Jones brokerage accounts.
Fees Every Guided Solutions Flex account pays asset-based fees (referred to as your “Guided Solutions Flex Fee”). Your Guided Solutions Flex Fee includes a Program Fee and a Platform Fee, less any applicable fee reduction and/or fee offset (as discussed more fully below). In addition to your Guided Solutions Flex Fee, affiliated mutual funds and unaffiliated mutual funds and ETFs that you purchase or that are held in your account have internal fees and expenses that are described in the prospectus of each fund. These internal fees and expenses vary depending on the mutual fund or ETF. The following section explains:
• The fees and expenses
• How the fees and expenses are calculated and paid
• Potential fee reductions and offsets you may receive from Edward Jones The Program Fee Each Guided Solutions Flex account is charged a Program Fee for certain investment advisory services, including initial and ongoing analysis of your investment needs and objectives; periodic consultations; ongoing evaluation and selection of investments for this program; Edward Jones’ ongoing investment policy guidance and services to keep your account aligned with such guidance; periodic performance reporting; custody and transaction execution services and other related services as described in this Brochure.
Program Fee Schedule Value of Assets in AccountAnnual Fee Rate First $250,0001.35% Next $250,0001.30% Next$500,0001.25% Next$1,500,0001.00% Next$2,500,0000.80% Next$5,000,0000.60% Over$10,000,0000.50% The Platform Fee A Platform Fee is charged on accounts enrolled in Guided Solutions Flex for the support and maintenance of accounts on the Edward Jones investment advisory platform, such as trading and risk tools, training and education, and ongoing platform development. This fee is in addition to the Program Fee. Page 9 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD Platform Fee Schedule Value of Assets in AccountAnnual Fee Rate First $250,0000.05% Next $250,0000.05% Next$500,0000.04% Next$1,500,0000.03% Next$2,500,0000.02% Next$5,000,0000.01% Over$10,000,0000.00% How the Guided Solutions Flex Fee Is Calculated The Guided Solutions Flex Fee, which includes the Program Fee and the Platform Fee, is based on the market value of all assets held in your account, including stocks, mutual funds, ETFs, fixed income holdings, and cash equivalents, including shares of the Money Market Fund and third-party money market funds. Margin loan balances, if any, do not reduce the market value of your account for the purposes of calculating the Guided Solutions Flex Fee. However, for taxable accounts, the value of any fixed- income syndicate offerings acquired and held in your account will be excluded from the Guided Solutions Flex Fee calculation for a period of time as determined by Edward Jones. The Guided Solutions Flex Fee is assessed at an annual fee rate (shown above), payable monthly in arrears. As the value of the assets in your account increases or decreases, you are charged according to the tiered fee schedule set forth above.
The fees assessed by Edward Jones will reduce your account’s overall returns and performance.
The Guided Solutions Flex Fee is charged to your account each month in arrears. If your Guided Solutions Flex account is open for part of a month, then you will pay a fee based on the number of days your account was open and invested in Guided Solutions Flex. The amount you pay is determined by the average daily market value of the assets held in your account for the previous month.
All Guided Solutions Flex accounts are subject to a $10 minimum monthly Guided Solutions Flex Fee. In the event that you are charged a $10 minimum monthly fee, the effective fee rate based on the existing value of assets held in your account may be greater than the highest annual fee rates combined in each of the schedules (shown above).
Pricing Groups To determine your Program Fee rate and Platform Fee rate, your account may be grouped with your other Edward Jones advisory accounts or the Edward Jones advisory accounts of people related to or close to you who meet the criteria below that are held in the same Edward Jones branch in what we refer to as a Pricing Group. Each account can only be in one Pricing Group, and we will disclose to you the accounts making up your Pricing Group upon request.
Other members of the Pricing Group will receive the same disclosure upon request.
Your Pricing Group is based on the following criteria: 1. Your single, joint, custodial, owner-only 401(k) plan and IRA accounts are grouped together if they are registered at the same address and share one or more of the following: (a) the same last name, (b) the same Social Security number, or (c) the same Edward Jones Relationship Group. (If you have worked with your financial advisor to group your account with other accounts for the purpose of planning and establishing financial goals, that is a Relationship Group. Your Relationship Group may be the same as your Pricing Group. Please contact your financial advisor if you have any questions about your Relationship Group.) 2. Your revocable trust accounts are grouped with your single, joint, custodial, owner-only 401(k) plan, IRA or other revocable trust accounts if they are registered at the same address and use the same tax ID number for tax reporting.
3. Your association, church, corporation, estate, irrevocable trust, LLC, partnership and sole proprietorship accounts are grouped with other accounts of the same type if they are registered at the same address and use the same tax ID number for tax reporting. These types of accounts will be grouped with each other, but not with other account types.
Additionally, accounts that do not meet the above criteria with your account, but that meet the above criteria with another person’s account in your Pricing Group, will be added to your Pricing Group. Please contact your financial advisor if you have questions about your Pricing Group.
In addition, the Guided Solutions Flex Fee may be lower than the above schedule in the following circumstances:
• Either Edward Jones or your financial advisor negotiates a lower Program Fee;
• You are an active or eligible retired associate of Edward Jones; or
• You are a member of an active or eligible retired associate’s Pricing Group.
Reducing the Guided Solutions Flex Fee is at the sole discretion of Edward Jones.
Potential Fee Reductions or Offsets to the Program Fee Depending on certain factors, you may be eligible to receive fee reductions or offsets to your Program Fee, as described below.
Fee Reductions If your Guided Solutions Flex account is funded from an Edward Jones account that incurred commissions or redemption fees within a preceding period, as established by Edward Jones, the Program Fee may be reduced for up to twenty-four (24) full months in which the account is active in Guided Solutions Flex. The amount of the fee reduction will depend on the type of security held, timing of trade activity for the security, or other characteristics of the account activity in the previous Edward Page 10 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD Jones account. Ask your financial advisor for additional information about potential fee reductions. Any fee reductions will be applied in accordance with policies established by Edward Jones, which may be amended from time to time. If you close your account in Guided Solutions Flex before receiving the entire fee reduction, you will not receive any of the remaining fee reduction that may have been available for your account.
If you are selling securities to invest in Guided Solutions Flex but did not purchase them through Edward Jones, you will not receive a fee reduction.
Fee Offsets Rule 12b-1 Fees: Some mutual fund companies or their affiliates pay Edward Jones Rule 12b-1 fees for distribution and marketing expenses. This creates a conflict of interest. In order to eliminate this conflict of interest, if we receive Rule 12b-1 fees for the shares in your account, we will credit the amount received to your account.
Shareholder Accounting Revenue: Some mutual fund companies pay Edward Jones for account recordkeeping and administrative services provided by Edward Jones for the mutual fund companies. This creates a conflict of interest. In order to eliminate this conflict of interest, if we receive shareholder accounting fees for the shares in your account, we will credit the amount received to your account.
Affiliated Mutual Funds: If your account invests in affiliated mutual funds, the investment adviser to the mutual funds will be an affiliate of Edward Jones. Affiliated mutual funds, other than the Edward Jones Money Market Fund, consist of Bridge Builder Funds and will be sub-advised by multiple sub-advisers who are unaffiliated with Edward Jones. Refer to Appendix A which contains a detailed discussion of our affiliation with the affiliated mutual funds.
Edward Jones Money Market Fund: JFC directly owns 100% of Olive Street Investment Advisers, LLC (“Olive Street”), the adviser of the Edward Jones Money Market Fund. Olive Street, and its affiliate, Edward Jones, receive various revenues related to assets in the Fund (collectively, “Money Market Revenue”). Appendix A includes a detailed discussion of our Money Market Revenue. For any account investing in the Edward Jones Money Market Fund, Edward Jones or an affiliate will apply a fee offset equal to the amount of the Money Market Revenue received by Edward Jones or an affiliate, with respect to such account.
How the Guided Solutions Flex Fee is Paid The Guided Solutions Flex Fee is deducted directly from your Guided Solutions Flex account and paid using the cash portion of your account, which may include cash or assets invested in the Edward Jones Money Market Fund. If there is not sufficient cash or assets invested in the Edward Jones Money Market Fund, we are authorized to sell a sufficient amount of assets held in your account to pay the Guided Solutions Flex Fee. Edward Jones will first sell a sufficient amount of shares of mutual funds held in your account to pay the Guided Solutions Flex Fee. If there are not sufficient assets in the mutual funds held in your account, Edward Jones will sell a sufficient amount of shares of ETFs or equity securities, and then a sufficient amount of fixed-income securities necessary to pay the Guided Solutions Flex Fee. If Edward Jones sells mutual funds, ETFs, equity securities or fixed-income securities, this may result in your account being out of alignment with the Target Ranges for your Account Portfolio Objective or with the Investment Diagnostics for your account. Such transactions will be effected without regard to tax consequences. You may have to pay redemption fees to a fund company if those shares were held only for a short time. (See below for more information on redemption fees.) Trades as a result of a liquidation of a mutual fund or ETF in a taxable account may result in a taxable event. Securities transactions effected to pay the Guided Solutions Flex Fee may necessitate odd-lot sales. Odd-lot sales may result in less favorable pricing conditions. At the sole discretion of Edward Jones, you may be allowed to pay your Guided Solutions Flex Fee from an alternate Edward Jones account.
Internal Fees and Expenses of Mutual Funds and ETFs, Including Redemption Fees Mutual funds (including affiliated and unaffiliated mutual funds) and ETFs have internal management fees and ongoing expenses for operating the funds (“internal fees and expenses”) that are deducted from the fund’s assets, which has the effect of reducing the fund’s net asset value (“NAV”). Many mutual funds that are Eligible Investments in Guided Solutions Flex have different share classes with different fees and expenses for each share class. The fund prospectus and other fund documents will describe the internal fees and expenses.
Please refer to Item 6 below for more information regarding the selection of mutual funds and ETFs as Eligible Investments for Guided Solutions Flex.
Internal fees and expenses are in addition to the Guided Solutions Flex Fee described above and vary depending on the particular mutual fund or ETF. You will not see a separate entry on your account statement showing these fees and expenses.
Certain mutual funds may also impose redemption fees if shares of the mutual fund are held for only a short time (typically anywhere from less than thirty (30) days to twelve (12) months). The fund prospectus and other fund documents describe whether the mutual fund has a redemption fee and whether there are instances when the redemption fees will be waived.
Any internal fees and expenses charged by a mutual fund or ETF will reduce your account’s overall returns and investment performance.
Page 11 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD Other Fees and Expenses Not Included in the Guided Solutions Flex Fee In addition to the Guided Solutions Flex Fee described above, clients will pay Edward Jones interest on margin loans, if applicable, as set forth in the Margin Disclosure. A client may pay for other services including, but not limited to, debit and check- writing fees, estate service fees and fees to distribute an account pursuant to a transfer on death agreement.
Also, the Guided Solutions Flex Fee does not cover the following (if applicable to your account): transfer taxes; electronic fund, wire and other account transfer fees; internal fees and expenses incurred by mutual funds or ETFs purchased for your account; mutual fund redemption fees and contingent deferred sales charges; and any other charges imposed by law or otherwise agreed to by Edward Jones and you with regard to your account.
Deposits, including interest and dividends, received into your account but not yet invested in Eligible Investments or swept into the Money Market Fund may earn interest that will be retained by Edward Jones. Edward Jones may also earn and retain interest on distributions requested from your account until the time the check is cashed or another payment method is completed. The average overnight interest rate on these deposits may fluctuate daily and is tied to changes in widely referenced interbank lending rates, such as Fed Funds Effective Rate, Fed Funds Target Rate and Secured Overnight Financing Rate. Under these arrangements, banks may pay interest based on a spread to one of these rates or may pay a fixed interest rate.
Financial Advisor Compensation Most financial advisors receive a portion of the Program Fee, though some financial advisors receive a salary in addition to, or in lieu of, the Program Fee. Financial advisors who receive a portion of the Program Fee have a financial incentive not to negotiate the Program Fee. The portion of the Program Fee paid to your financial advisor is at the discretion of Edward Jones. The fee rate paid to your financial advisor will be the same regardless of the Account Portfolio Objective or Goal Portfolio Objective (if applicable) you select. As a result, your financial advisor does not have a financial incentive to recommend one Account or Goal Portfolio Objective over another. Your financial advisor does not receive a portion of the Platform Fee. Similarly, the Program Fee rate paid to your financial advisor will be the same regardless of the investment advisory program in which you invest. However, your financial advisor also may receive compensation in connection with margin loans in Guided Solutions Flex as described below. As a result, and if you would be eligible for margin lending but ineligible for the Edward Jones securities-based lending offering called the Edward Jones Reserve Line of Credit (“Reserve Line”), available in some other Edward Jones investment advisory services, your financial advisor will have a financial incentive to recommend Guided Solutions Flex over another investment advisory program.
If you use margin in your account, Edward Jones will receive revenue as a result of charging interest on your margin loan. As a result, there is a material conflict of interest between you and us in connection with margin loans, which we address through disclosure in this Brochure. For example, if you take out or maintain a margin loan rather than withdraw money from your Guided Solutions Flex account, we retain the Guided Solutions Flex Fee that such assets are otherwise generating and charge you interest on any outstanding margin loan balances. Depending on your specific circumstances, including the intended duration of the margin loan and the return on your account, over the long term it may cost you more to take out the margin loan than if you had pursued an alternative loan option or liquidated securities and withdrawn the sale proceeds from your account.
Although Edward Jones receives more revenue from a margin loan than a loan through the Reserve Line available in the other advisory programs, your financial advisor is compensated the same on both types of loans. You are encouraged to carefully consider the total cost of taking out any margin loan, and any additional compensation to us or your financial advisor, when determining to take out and/or maintain a margin loan.
The amount of your financial advisor’s compensation may be more or less than what he or she would receive if you had a brokerage account instead of a Guided Solutions Flex account. If you purchased investments through Edward Jones as a broker- dealer, you would pay sales charges or commissions, a portion of which would be paid to your financial advisor. 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 Guided Solutions Flex. This creates a financial incentive for your financial advisor to recommend Guided Solutions Flex instead of brokerage services.
The Program Fee, as well as assets under care and client margin loan balances, will impact most financial advisors’ eligibility for a bonus and bonus amount. The Program Fee, as well as assets under care and client margin loan balances may also impact a financial advisors’ eligibility for the receipt of certain limited partnership profits interest in The Jones Financial Companies, L.L.L.P. (the “Profits Interest”). This eligibility to receive bonus, bonus amounts, and/or certain Profits Interest creates a conflict of interest in that your financial advisor has an incentive to recommend you invest in an investment advisory account(s). Most financial advisors are eligible to participate in the Edward Jones Travel Award Program (“Travel Award Program”), which includes domestic and international travel, or a cash award in lieu of a trip. Eligibility for the Travel Award Program is based upon the amount of new and existing assets under care of a financial advisor which creates an additional conflict of interest.
These financial incentives create a conflict between Edward Jones’ interest, your financial advisor’s interest, and your own.
We address these conflicts of interest through disclosures you will receive at or before the time of your financial advisor’s recommendations to you. Additionally, financial advisors are subject to training, supervision, regulatory requirements, and internal policies and controls that are reasonably designed so that clients are recommended only those products and services Page 12 of 20 IAS-10455W-A-PB REV. MAY 2024 © 2024 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. AECSPAD that are appropriate in light of their financial circumstances.
For further information on compensation and conflicts of interest, please see the “Understanding how we are compensated for financial services” document found at edwardjones.com/compensation.
Comparing Costs, Expenses and Services The Program Fee is a fee for investment advisory services as described above under “The Program Fee” and the Platform Fee is a fee for platform support services as described above under “Platform Fee.” Guided Solutions Flex may cost you more or less than purchasing these services separately, depending on the costs of the services if provided separately, the size of your account, the amount of cash in your account, and the trading activity in your account and the corresponding brokerage commissions that would be charged if you bought and sold individual securities in a brokerage account.
You can choose to forgo the services of Guided Solutions Flex and buy and sell securities through Edward Jones as a broker- dealer or through other brokers or agents not affiliated with Edward Jones (although you would not receive the benefits of the program described in this Brochure).
We have provided you with materials that explain our brokerage and investment advisory services, including our Client Relationship Summary (“CRS”) and “Making Good Choices” brochure.
Additional copies are available from your financial advisor upon request or our CRS is available at www.edwardjones.com/regbidisclosures.