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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.
I certainly hope anyone reading this takes to heart what is being said before you lose your life savings. This company is a fraud and a scam and you will lose everything. Please learn from our mistakes and do not invest your money, stocks, etc. in Edward Jones, you WILL regret it.
It's absolutely NOT the clients fault . Brokers(financial advisors) have a responsibility to act according to the risk their clients can afford . If most clients lose money in a contracting economy or a recession, that seems to be the norm for long term investors . However, financial advisors should know and explain how their clients can hedge their risk .
Next time you meet a financial advisor, don't let their charm and sales tactics persuade you . Ask them about their performance during a market correction, economic contraction and during recessions . Don't let them persuade you that they're good just because they lost only 10% when the markets dropped 15% .
Understand that a brokers job is to sell . But they can choose to sell you safety, wisdom and experience . Alot of brokers just push what the house(firm they represent) tells them to push onto their clients . That's a big NO NO ! If a broker/financial advisor is just starting out, then keep in touch with that advisor and test them through '' paper '' recommendations .Even test experienced one's for that matter . If those recommendations don't do well, then don't higher that advisor . Nobody's perfect . But still a certain performance average should be met . And it doesn't take years to see if the recommendation was a good one .
Makes me laugh when a so called broker uses '' Warren Buffet '' as an example into trying to convince clients to buy and hold for the long term . Just look at what happened to Eastman Kodak since the year 2000 . Today's date is September 30 2011 .
Anyways, all in my humble opinion .
We are a Manhattan based securities law firm. We would be more than happy to evaluate your claim for you. For more information please visit our website at http://www.stockfraudlawyer.info or call us at [protected].
I was also scammed by Edward Jones, just recently in fact. The stockbroker, Greg Rhodes, in Kettering, OH, made 37 trades, without my permission on August 4 and 5, 2011, the day the Dow lost 500 points. I lost $20, 000 after he made all those trades. Not only did he get outrageous commissions for the stock trades, he also sold me Franklin Templeton A Share Mutual Funds. I told him because of my age and circumstances, I never buy Class A. He received 5-3/4% commissions for each of those 8 trades into Franklin Templeton Funds. I am retired and will never see that $20, 000 again. I just cannot believe that he did things that when I told him I don't want, he did it anyway. We never discussed cost or any individual stock or mutual fund. When I did try to reach him on July 25 to discuss what I wanted to buy, his office told me he was on vacation. That was just enough time for my accounts to be there so he could start making the 37 trades on August 4 and 5. I want to be called Martha D, so if I can back up anyone with a lawsuit against Edward Jones, refer to Martha D. and I will join forces with you. Good Luck to you on your suit.
This post is falsified and not accurate. I never posted this statement to this site. All the facts are not correct. For this reason I have asked this site to take down this post and they refuse to do so. I would not believe any posts you read on this site. Martha D
my heart goes out to you and whoever replied saying "it's your fault" is a very misinformed and uneducated person (likely an EJ employee...lol!). EDWARD JONES is a huge SCAM of a company, I also lost $60, 000 with them and am in the middle of a big law suit with them. I hope my salesman loses his licence and goes to jail.
IT IS NOT - i repeat NOT your fault. They have been fined numerous times for fraudulent activity; they sell you lousy funds at HUGE paybacks to themselves and losses to you. I trusted them myself as reputable "advisors" and they're really just used car salesmen. I could kick myself now for ever trusting these ###.
EDWARD JONES assumes no responsibility or accountability for their lousy actions and continues to scam people daily. The admin. people still made multi-million $$ even in the recession when all their clients lost. They should go to jail but somehow white collar crime remains rampid, alot of it is due to idiots like the person who WRONGLY said ìt`s your fault`...it is 100% EDWARD JONE`S FAULT and they need to be accountable. Please seek legal advice to get back some of your hard earned money.
gastona
ontario canada
Thats your own fault. Let me ask you a question...If I put $1000 on your table and started burning bill by bill of your money would you stop me at any point? You saw the market going to hell. You should have pulled out before losing all that money.