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1.9 111 Reviews

Edward Jones Complaints Summary

24 Resolved
87 Unresolved
Our verdict: When using services from Edward Jones with a poor resolution rate, be vigilant. Understand the common pitfalls other customers have faced. Prepare thoroughly for any interactions with their customer service, and consider alternative solutions if your issues are not addressed satisfactorily.
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Edward Jones reviews & complaints 111

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4:40 pm EDT
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Edward Jones 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.

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Curtain Raiser
Fullerton, US
May 19, 2011 5:15 pm EDT

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.

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5:33 pm EDT
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Edward Jones 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?

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gastona
, CA
Apr 05, 2010 12:36 pm EDT

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

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9:43 pm EDT
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Edward Jones - 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!!

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1:20 pm EDT
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Edward Jones - irresponsibility

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.

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4:33 pm EST
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Edward Jones employment

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.

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3:45 am EST
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Edward Jones - 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 comments
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10:40 am EST

Edward Jones breach 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 gut was saying to move into a no loss investment along with others telling me the same thing. When I got my next statement it showed a loss of over $7000 and I saw that he moved my funds the day after he said he would. I called his office but he was not in so I explained the entire story to his assistant.
He has never made a call to me about giving my loss back...just to come talk to him. I suffer from severe anxiety and have been unable to deal with a man that hasn't owned up to his wrongs to me.
I know the stock market is bad and there are many losses, but it is a legal binding on his part that he was to move my funds when he said he would. It was also wrong of him to advise me not to place my funds in a no loss investment. Ripping off the public is out of control these days.

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mom&dad435
New Baltimore, US
Apr 01, 2009 8:20 pm EDT

I have invested with David Bray and found him to be an honest, trustworthy advisor.
It is clearly evident that Edward Jones has not been involved in much of the negligent tomfoolery that has put the AIGs and Merrill Lynch's of the world on the front pages of our newspapers.
There is no such animal as a "no-loss" investment. You have probably lost more money on your home in the past year that you did with Mr. Bray... Are you about to bail out or that asset too?
Wake up and smell the coffee!
Go Talk with Mr. Bray so he can coach you through this bank-caused recession instead of blaming him!

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ironyfree
stlouis, US
Mar 29, 2009 7:39 pm EDT

Edward Jones systematically targets elderly AND has scripted excuses why some products are given special "shelf space" while losing more money than the competition.

Plus their LDS tactics of knocking on doors. They're looking for people too frail to hear their phones ring. Like the elderly.

Also, they ignore requests for children to be present when discussing parent's finances, even after many instructions.

And they refer the elderly to bottom-feeding real estate speculators.

Don't get me started on these thugs.

ComplaintsBoard
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9:36 am EST

Edward Jones didnt 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 the day i called edward jones headqutars they seen what he did and told me he had 3days to take care of it so when he called me i said just put back where i had my money he said he could not that nite he sold the mistake and bought bonds well headqutars has mail me a complaint form that i should recieve it in about 4days headqutars is with me they said they see all the mistakes well i get this margin call for 12, 796.00 to be payed 11-03-2008

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Update by mark
Nov 03, 2008 9:20 am EST

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 the day i called edward jones headqutars they seen what he did and told me he had 3days to take care of it so when he called me i said just put back where i had my money he said he could not that nite he sold the mistake and bought bonds well headqutars has mail me a complaint form that i should recieve it in about 4days headqutars is with me they said they see all the mistakes well i get this margin call for 12, 796.00 to be payed 11-03-2008

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Alan Tuckerman
,
Nov 27, 2008 9:15 am EST

What the heck are you saying? I can't even understand what you're writing. I'm guessing you didn't understand what you signed because you can't read English?

Sorry, but my Edward Jones advisor is great and keeps my family and me in good shape. It's a great company but maybe you just had a bad experience.

Do you know what a margin call is? It means you've borrowed money against your balance, and your balance has fallen in value because of the economic crisis. It's not Edward Jones' fault. Maybe you shouldn't borrow money if you can't pay it back?

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jason
,
Nov 03, 2008 9:43 am EST

edward jones office's are owned buy the broker so edward jones the company is not involved in this just the broker

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11:12 am EDT

Edward Jones broker

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

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Jim Marler
Baltimore, US
Aug 14, 2009 9:14 am EDT

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

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5:28 am EDT

Edward Jones 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.

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Timothy Buck
Indianapolis, US
Aug 01, 2012 8:00 am EDT

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!

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Sundance
Madison, US
Mar 05, 2009 6:02 pm EST

Do not buy bonds at Edward Jones.

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twill
Kouts, US
Mar 13, 2009 8:48 pm EDT

Yeah, why?

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8:10 pm EDT
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Edward Jones - 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...

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