Edward Jones' fee-planning model versus First Command and other commission-only houses?

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Jan 4, 2016 7:31 pm

Edward Jones is making big money by updating their fee model to include a greater focus on percentage of assets. I am considering becoming an EDJ advisor and also doing the same with First Command, that focuses on military families. FC is apparently sticking with their legacy commission-only model, which seems to me to be behind the times. Does anyone have perspective on this changing model? Many people now expect the industry to eventually leave product commissions behind and charge only fees, for time spent on financial planning and as a percentage of assets under management.