SUBMIT A COMPLAINT

Edward Jonesfinancial advisors unethical way of working with family members (beneficiaries) after the death of account holder

1
E Sep 01, 2019 Review updated:

I am the successor trustee of my aunts trust where she was a client of Edward Jones. I was listed on her Edward Jones account in her trust account as the trustee and also a beneficiary of her IRA. After the time of her death when I contacted the agent she was being very confusing and difficult about giving me any information and told me that I was "not a professional" and was surprised my aunt put me in charge of this. She was only concerned about getting statements of my aunts other assets. It was a very difficult time after her death (3/26/19) and even after I presented the death certificate and trust documents she still was being difficult about giving me any information regarding her account. The beneficiaries listed were all out of state from her office and so naturally they chose to find their own Edward Jones agent close to them to get the accounts transferred to, including me. When the assets were finally divided, one of the beneficiaries, my elderly aunt (82 yrs old), spoke with her on the phone and told her she wanted the assets transferred into her Edward Jones where she was living. Assuming they were transferred, she received a call from Marisa several months later telling my aunt that her stocks were not making any money and was wanting to reinvest in a bond which my aunt didn't understand any of it and only confused her more because she thought her inherited IRA had already been transferred to her agent in her hometown. After that, my aunts agent (in her home town) repeatedly called her office and there was never a return call. It has been nearly 5 months since my aunts passing and we have had nothing but trouble from this agent. In my opinion, I feel that she has been unethical and making it hard by stalling in order for her to profit for herself. To my understanding, I believe the account of my elderly aunt was finally transferred over but I can't be for sure this is why I needed to file a complaint, this is very unprofessional and Edward Jones should not have these types of agents working for them.

Responses

  • L
      Dec 05, 2019

    We are experiencing the same type of difficulty with an Edward Jones Advisor who "inherited" our mothers accounts, after her financial advisor retired. This guy is shady. He delays, delays, delays and refuses to provide us information related to the options available to us for the annuities our mother owned. He even filed a death claim on an annuity which was held outside Edward Jones, without our knowledge and consent. He filed the claim before we ever contacted him to advise that our mother had passed away. He states that he is not able to provide any information as to the annuities other than here sign this lump sum distribution.
    These annuities had not annuitized. No money had every been distributed from one of the annuities and somehow, the origianl investment grew less than 2% a year over a 26 year period.
    Edward Jones Corporate will not help whatsoever. It seems that this hide and seek game with our mothers assets may very well be illegal, but how are we supposed to challenge this guys BS?

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