sales charges
Edward Jones fires Putnam for poor performance. I guess they need someone to blame. I know
the economy is bad so I am not blaming anyone. But here is the problem. Edward Jones now has to
rollover my 529 plans into a new fund. We are forced by Edward Jones's hand to move this investment. Wouldn't you think that there should not be sales charges? Well, I get the welcome packet from the new fund company and we were charged 5.75% for "sales charges". This came to approximately $500.00 of my son's college savings. These investments among others have lost a large amount of value already. I already paid sales charges when I bought them through Edward Jones. Edward Jones should pick up the tab on this. Complaint with the SEC to follow.
The complaint has been investigated and resolved to the customer’s satisfaction.
free surprise gift
I received a card today along with my Readers Digest telling me to go to www.rd.ca/freegift for complete offerings, howver, upon doing so I was unable to find any information. Why send these things out if they are not relevant?
The complaint has been investigated and resolved to the customer’s satisfaction.
NEVER, EVER INVEST WITH EDWARD JONES...I am in the middle of a huge law suit with them right now as they scammed me out of $60, 000 of my own money. The more I read about them, the worse it gets. Numerous class action law suits against them, selling lousy funds for huge paybacks to themselves and exorbient losses to their customers, poor service and information (they're basically used car salesmen), horrendous fees and commissions, again at huge losses to their customers, etc. They're out for themselves and their clients' best investment wishes are the least of their concern. Even in the recession, all their top executives made multimillion wages when everyone else lost, because they stole your money from under your nose. They are white collar crime and should be jailed for their actions. I personally know of 2 of their salesmen who've had their licences revoked after ripping off elderly, retired people who lost most of their life savings to these selfish scums. And even though every salesman (they call themselves "advisors"... lol!) is different, there seems to be a lack of leadership and quality control with EJ. Many of their offices often only have 1 salesman and 1 secretery with no "boss" to crack down on the fraud they pull off, obviously to keep their own expenses down for greater money to themselves and once again, at huge losses to their clients.
There are numerous other, much better and more reputable places to invest with, even the government backed banks would give you better returns and guaranteed no losses and no fees to pay out (My EJ salesman never even told me about all the extra added fees, in addition to his commission, and he of course got paid highly even though he lost me 60K...dispicable.)
If I can save even 1 person from what I've been through with this JOKE of a company, it's worth it. Get the word out however you can...twitter, facebook, myspace, emails, whatever...tell who ever you can about this horrible company...EDWARD JONES IS A SCAM, A FRAUDULENT COMPANY...NEVER TRUST YOUR HARD EARNED MONEY WITH THEM.
honest citizen
ontario, canada
worst investor ever
Vince rosenack, financial advisor (Ha). Moved my ira to edward jones april 2008; told vince (3 times) I was tired of loosing $ and would rather make a little vs loosing monthly. Sure we can do that, so I figure i'm safe while everyone else is loosing $. Well, his good investing lost me 20% of my ira in 8 months. Vince said i'm doing good and making $, what a _ _!! Don't invest with him!!
Read full review of Edward Jones and 5 commentsirresponsibility
Irresponsibility of the investment advisor. We lost $93, 000.00 of our retirement money and no one accepts responsibility. We asked at every statement to move the money into a safer environment and the advisor says, no we're fine. We're not fine. We lost $93, 000.00. My husband's retired.
Read full review of Edward Jones and 7 commentsemployment
Pursued possible employment with Edward Jones. One of the pre employment hoops is for you to go out and do a "survey" which is a door-to-door exercise, I believe, to see if you have the will to make one-on-one cold calls or not. In the two neighborhoods I chose, I ran into to people who had just spoken to someone with the exact same survey questions in the last few days (Edward Jones gives you a script). It is my impression that this firm wants to flood the market with brokers and see who sinks or swims. In all fairness, if you do pass muster they set you up in an office and pay you for a year or so until you can support yourself with commissions . If you've sold anything on pure commission with this shotgun approach, this might be a home for you but it was not for me.
The complaint has been investigated and resolved to the customer’s satisfaction.
misrepresntation, fraud, seedy stock brokers
My Parents passed away leaving me a generous trust account plus a life insurance policy. Dave Hunt, a independent stockbroker in NC has done everything possible to obfuscate every bit of all information regarding my account. He even tricked me out of a $500, 000 life insurance policy. Edward Jones knows one thing better than investing your money, and that...
Read full review of Edward Jones and 39 commentsbreach of binding agreement
David C. Bray from Edward Jones became my financial advisor in June of 2007. He promised me he would watch my funds and suggested against placing them in a no loss investment. In Jan 2008 I asked him to move my funds to a no loss investment and he promised he'd do it that day. By this time, six months, he already loss over $6, 000 of my initial funds. My...
Read full review of Edward Jones and 2 commentsdidnt do it right
first i went to travis bulls officetold him what i wanted to do well the next day i found out he messed it all up i called his office and travis was at edward jones meeting at northern michigan his office worker called him said i called and there was major mistake travis clled me at 9:30 in the morning and said he will see me that night and he called during...
Read full review of Edward Jones and 2 commentsbroker
dear sir: i called my broker bob olsen about selling my $15, 000 dollar bond with lehman brothers. He told me not to worry, my bond would be safe and i would still receive dividens. The very next week, lehman brothers went bankrupt! He called to inform me good news and bad news! Lucky i had a bond and not stock, but did not know what i would get back from my bond, and of course no more dividens.I called this broker a week before this all happened! Isn't he responsible for advising me with the wrong info. He surely had an idea of what was going on.could you advise me on what to do. We are senior citizens and do not have a large portfolio. Thank you Helen Van Dam
I had 45, 000 of my retirement invested in Lehman Bonds. Edward Jones told me not to worry that I would get most of it back. I said I should sell when it went down to around $32, 000. They acted like I would was stupid to sell wanting to sell. They didn't have a clue about what was going on even though he said he was in contact withe Edward Jones Bonds department As far as I am concern it is a crime to sell to old people retired JUNK.
Now I have SEC and Maryland Securties Division of the DA office looking into the matter.
Jim Marler
Baltimore
financial
Shortly after transferring a large$$$portfolio of stocks, bonds, cd's, mutual funds and money market from ml to edward jones, my broker sold most of it without my informed consent. He didn't answer my question about capital gains. On april 9, i found that i owed 54, 000 in taxes with another 3, 000 in estimated taxes. I asked my broker how i was going to pay for this. He said the best thing to do was to take a loan with edward jones! He also sold mutual funds from one class and bought same funds in another class. He got me into annuities, and since i have transferred back to merrill lynch, the only income i have is from selling securities.
My investment representative told me there was a one time fee when we invested our money with them. This is simply a lie. I asked the guy three times and he lied three times to me. BEWARE OF EDWARD JONES!
Do not buy bonds at Edward Jones.
Yeah, why?
lied about commission
Jeff Rudolf of Iowa City said he'd charge half price on his commission for a stock trade since I was going to move my money to a etrade account. He wanted 2 percent on the buy, and 2 percent on the sell, with an additional 4.95 transaction fee. Half of that is 1 percent on both ends, and 4.95 transaction. He bought the stock and I got mail confirmation of...
Read full review of Edward Jones and 6 commentsOverview of Edward Jones complaint handling
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Edward Jones headquarters12555 Manchester Rd, Saint Louis, Missouri, 63131-3710, United States
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As a happily EX EJ stockbroker, I have to say, "Point well taken!" Not in defense of, but rather as a candid explanation, these salespeople (so-called "advisors"), according to public record, know little if anything about the true workings of what they do for a living. I mean, look, 5.75% sales charge? How much does the hyperactive fund manager have to make his fund perform just to overcome that expense? Not to mention all the "other" fees & expenses eroding the investor's assets. Best bet is to fire the broker, and start by first reading the awesomely short but honest book "The Investment Answer" by Goldie/Murray.