Edward Jones - Financial Advisor: Harald Kohl

Reviews

• HR

  Hannah Rames

  Mar 14, 2025
  5.0
  I've trusted Harald with my retirement planning and financial management for nearly 18 years. He's communicative, transparent, diligent, and reliable, and he's helped me realistically balance my long-term goals and immediate needs while relieving the time burden and anxiety of managing things on my own. Harald is a top-notch professional who cares about his clients, wholeheartedly recommended.
• MH

  Michael Anderson (Kona, Hawaii)

  Dec 9, 2024
  1.0
  ** Review: Beware of Excessive Fees and Poor Returns with Front-Loaded Mutual Funds and Self-Service Advice ** If you're considering working with Harald Kohl, think twice. Based on my experience, his approach is focused on selling front-loaded mutual funds, which come with significant downsides that could hurt your long-term financial goals. Here’s what you need to know: 1. **Not a Financial Advisor**: Harald is not a fiduciary or financial advisor in many cases. He is a fund salesman working primarily for his own benefit, not yours. 2. **High Purchase Fees**: The mutual funds he recommends come with front-loaded fees, meaning you pay a hefty fee—often as higher than 5%—just to invest your money. 3. **Dividend Reinvestment Fees**: When you earn dividends, reinvesting them incurs additional fees, further eroding your returns. 4. **Lower Gains in Bull Markets**: During market upswings, you’ll gain less because the fees and fund performance don’t match the broader market. 5. **Higher Losses in Bear Markets**: Despite promises of better risk management, the funds Harald recommended actually lost more during bear markets compared to low-cost index funds, compounding the financial damage. 6. **Ongoing Underperformance Fees**: You’ll pay a monthly fee even when the funds underperform the market, which was always the case. 7. **Trading Fees**: If you make any adjustments to your investments, you’ll pay additional fees, making it costly to manage your portfolio. 8. **Account Closure Fees**: If you decide to leave, expect to pay a fee to close your account, adding one last insult to injury. 9. **Long-Term Impact**: Over time, these fees can have a devastating impact. For example, a 5% front-load fee on a $100,000 investment can cost you nearly $42,000 in lost growth over 30 years. 10. **Limited Transparency**: The full cost of these fees isn’t always made clear upfront, which can leave you unaware of the true impact on your retirement savings. 11. **Unhelpful During Account Transfers**: When I decided to transfer my accounts, Harald refused to perform a necessary step in the process, forcing me to contact the corporate office directly to resolve the issue. This lack of support added unnecessary frustration to an already deceptive relationship. In short, working with Harald Kohl could mean working longer and retiring later, all while paying substantial fees for underwhelming returns. For most investors, low-cost index funds or ETFs offer better performance and significantly lower fees. Do your research and think carefully before trusting Harald with your financial future.

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