Menu
ADVERTISIMENT
Home Crypto & Hedge Funds Edward Jones misrepresntation, fraud, seedy stock brokers
More

Edward Jones  - misrepresntation, fraud, seedy stock brokers

I
Author of the complaint
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Featured review
This review was chosen algorithmically as the most valued customer feedback.

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 is perpetuating fraud. I have absolutely no clue to how much money is in my account, for they make sure I never find out. I attempted to hire an attorney to get some factual information, buy Dave Hunt's personal shyster put a stop payment on the check. I have repeatedly inquired: If you have nothing to hide, why are you so fearful of me consulting an attorney? This is a question they would not answer. I'm sure everyone reading this knows exactly why. They have a lot to hide. I'd be fortunate if I have $100 left in an account that was worth over $1, 000, 000. Please take my advise: Avoid these con artists at all cost, or you will wake up one day penniless. Thee have already been multiple class action suits against Edward Jones for malfeasance. Their financial 'gurus' do not even need a college degree. all they need is 10, 000 cold calls. I call them 10, 000 chances to con people out of their hard earned cash! You will get a better return hiding your money under a mattress than letting these slime balls touch a penny of your money.

ADVERTISIMENT
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Helpful? 0 0
Share
Reply

More Edward Jones complaints & reviews

Edward Jones - sales charges
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Edward Jones - worst investor ever
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Edward Jones - forged document accepted
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
Edward Jones - lost money without be told
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.
37 comments
Add a comment
M
Feb 11, 2019 3:08 am

Beneficiary forms, signed, dated 2018, Carole McGlaughlin, now deceased, were not filed. I, Mark Maynard was there as witness.

Helpful?
0 0
M
Jan 30, 2019 3:08 am

Broker did not file pertinent information

Helpful?
0 0
S
Dec 06, 2017 3:08 am

My step dad raised me from the age of 5. I am 47. I was the youngest of all my siblings and therefore I was very close to my stepfather, the closest. My step sister, I realized after all these years was extremely jealous of that. Because she lived thousands of miles away, never really got to spend much time with him. She was raised by another man who was her stepfather. A month before my dad was diagnosed with cancer, he and his birth daughter made amends after two years of not talking because of some crap that she pulled on him, she convinced him to move his Edward Jones accounts to an office where her friends worked. On February 2nd papers were drawn up dividing everything equally five ways between my step sister, me, and my other siblings. My dad had previously had everything set up to be left to my daughter- one of his 13 grandchildren. Then strangly, just 3 days later, on February 5th everything was changed to step sister being 50% and the rest of us siblings splitting the other 50%. The really crazy thing about this is that my dad mailed copies of the equal shares paperwork of February 2nd to all of us kids. He mailed them to all of us in March. He talked about the equal shares of the accounts and making sure that we had our copies of the papers several times up until the last time we saw him before he passed. He clearly did not know anything about the change of the paperwork to 50%. However, the two Edward Jones employees under deposition made the claim that he came in and changed everything to 50% three days after he did the equal shares. The deposition of my step sister and the two Edward Jones employees all three conflict with each other and with the daily logs although they all tell the same lie, that he decided he wanted her to have 50%. 8 days before he died of cancer my stepsister called her friend at the Ed Jones office and requested to be faxed forms from the Edward Jones office stating that my dad wanted to remove me as a beneficiary. After receiving the forms, my step sister would have had to drive the forms 60 miles to my dad who was on his Deathbed, to get his signature, then rather than take the forms back to the Edward Jones office which was 7.7 miles away from dad's office, she
drove all the way back to her house 60 miles away, to fax them back to the Edward Jones office. Nobody witnessed the signature. The signature does not even look like his. Edward Jones stated that they did not speak to my dad on the phone. Step sister claims that he said he wanted me removed as a beneficiary so she made the phone call to have the papers sent over via fax. They never bothered to talk to him on the phone although they did talk to him on the phone during that time frame about something else. There is no record on their contact logs of any conversations or activities as there are supposed to be. I know this because my attorney got copies of everything. My step sister is capable of getting the pope to commit a crime so with her buddy at Edward Jones, the two of them flashing a good chunk of money at the financial advisor all had a great deal to gain. In particular she got about $400, 000 so she had plenty with which to cut them in on. I have been through the depositions and all of the papers and forms and evidence backwards and forwards and there are so many conflicts and it is so painfully obvious. A jury would most definitely shred it to pieces. Without a jury trial the word of two Edward Jones employees trumps all of the conflicting statements and unmatching signatures and bad business practices and lack of accountability. Edward Jones has no ethical or fiduciary standards. They claim that the account holder has the right to do whatever they want which I agree with but they didn't even verify that the change made 8 days before his death via fax was even his wishes. the rest of us kids all know that it was not but do they not even owe a Duty to the account holder to verify that his signature wasn't being signed by somebody else? For the haters that are going to say that I am just disgruntled because I was disinherited...I am completely broken-hearted is what I am. My dad has been talking about leaving this inheritance to all of us kids for years but jealousy prevented me from receiving that love gift from him with the assistance of Ed Jones. His birth daughter did not follow any of his wishes. We have already sued her twice for this. My husband and I have been with Waddell and Reed for 25 years and are so pleased.

Helpful?
0 0
S
May 11, 2016 3:08 am

My parents also left me with a generous trust fund through Edward Jones. Since my dad died and our trusted financial advisor became ill, I have been through four advisors, each worse than the one before. First, our family advisor's husband took over my accounts. What a disaster! I'm just surprised that Edward Jones is so well thought of in the industry. I think they have good investment vehicles, but I have not yet been able to get along with their FAs. Maybe I just don't have whatever it takes to interact with them. My most recent FA knows far far too much about a medical condition I have. The medical condition actually should not be a part of my record, but all the FAs I've worked with know about it because they probe into my medical expenses and what they are for. My current FA insists that I should be able to live on $2000 a month. Well, heck, I spend $2000 a month on medical expenses. There is no way around it. But it seems they shouldn't know so much about me. Also, with my expenses, I don't have a clue as to how I'm going to retire. If I can hold out for social security, some kind of annuity plus social security might cover most expenses.

But I cannot see working with these horrible people for the next 40 years of my life. My most recent advisor has been really agressive about selling me products. What is going on at Edward Jones lately? He won't take no for an answer. I finally told him to stop calling and emailing me and just figure everything is a "no." That's when he lost it with me and told me I was mentally incompetent to handle my investments. He suggested that I allow my next of kin to take on that responsibility and interact with him. He said that, failing that, his elderly clients who are living on 2%, have a trustee interact with him. He could recommend a trustee to me. NOW he is scaring me. None of my relatives has suggested that I am financially incompetent. I did agree that I felt as if I wasn't getting along well with him, and that I didn't appreciate his aggressiveness. My sister and brother in law are with Edward Jones, and they are allowed to turn down their FA's recommendations. When he told me he thought I was mentally incompetent, I felt the floor fall out from under me. Visions of him notifying my next of kin that I couldn't manage my money floated through my head.

It's not his job to determine my competency. I am not draining my account, or buying fancy racehorses.

I think that this situation brings up all kinds of privacy and defamation of character issues. I have been working at high-paying contract jobs, but he is treating me as if my working days are completely over.

The guy is a bigwig, a city commissioner.

So...someone please convince me that Edward Jones is a good company? I would love to believe that, but, outside of the advisor my parents chose decades ago, I am seeing nothing but crooks and leaches.

I'm starting to move some of my investments as is to Schwab, just to see how they do in another environment.
The one question Edward Jones never answers is the one about all the fees. Their help desk wouldn't even admit that expense ratios are charged to the consumer. I guess I really got my FA angry when I asked him what were my total fees for the year.

I guess there have to be some happy Jones' customers, but I am not one of them. I guess they really have to leave long-term customers alone.

Helpful?
0 0

I feel for you man! Take the legal route it's always worthwhile.

Helpful?
0 0
F
Dec 18, 2015 3:08 am

Run don't walk away from Edward Jones. You wont have to run if you don't ever give them a single penny to embezzle money launder steal lie,
forge documents. criminals. edward jones corporate ... criminals. I have seen it on paper when I demanded an accounting. Stay away from these people if you want your hard earned money to be honored. Put it with a reputable bank/broker where everyone can look at what is being done with your accounts. Edward Jones stockbrokers are out in their offices doing whatever they do with virtually no one having the ability to see what they are doing except corporate. You cant call another stockbroker and say heh whats up with this account? with a large bank everyone in that bank/broker can look at your accounts. RUNNNNNNNNNNNNN

Helpful?
0 0
H
Dec 12, 2015 3:08 am

completely agree with this person. The stockbroker at edward jones for my father embezzled and money laundered his trusts and assets
the last year and half of his life and then a year and half after. he told me as heir of every trust and probate asset of my fathers that
neither he nor the trustees nor their attorney ever had to provide documentation or communicate with me. A time when you need the
people around you to handle finances for you appropriately and honorably, because that is the last thing on your mind. And then they
draw you into all this illegal activity that you have to face when you are grieving. pathetic. This is a very very bad apple in the company
but after watching corporate go on lockdown for him. He was totally protected. I even have them on a recorded line with my bank/broker
when they totally said they had no records of anything from my father to me. NO RECORDS. do you know how much it cost to get an attorney and the time it would take to go to another state for a couple years of legal hearings. I did hire two lawyers and they couldnt even get anywhere with
these guys except a legal accounting that showed money laundering embezzlement etc etc. and then where do you go from there.
At some point Edward Jones is going to go down. If they cant control the actions of their stockbrokers and they protect them when they do something illegal. time for them to get out of the business all together.

Helpful?
0 0
E
Dec 03, 2015 3:08 am

These Edward Jones Stockbroker are not being monitored by anyone. No one can see what they are doing, so it obviously attracts
the kind of employees who know they are going largely unregulated in their little offices across the country. Corporate says they
watch them, but I can tell you after what happened to my fathers trusts and estate under Edward Jones in Waxahachie Texas,
no one from corporate followed up on suspicious activity on my fathers accounts, which took a financial profile completely different
from his normal financial behavior going back a year and half before he died. and it continued for a year and half after he died.
I highly suggest if you have any question whatsoever, or doubts in your mind as to what has happened under someones trust
estate accounts ... ask through an attorney, you just have to pay the attorney to write the letter and then back out ... a letter
to demand a formal legal accounting of the trusts and estate assets. It doesnt cost that much and when you get the accounting in your
hand . for me .. shocking beyond shocking and corporate edward jones in saint louis went on lockdown on the whole thing.
This company needs to be shut down, yes there are probably good stockbrokers within the company, but the fact that my fathers
estate trusts could have gone this far south over an extended period of time with one stockbroker, ... how many others.
If we could all get together we could a class action against Edward Jones. Oh and by the way when finally some assets finally
came into my bank/broker ... (after this I would never have an account with a single person in a single office) no cost basis analysis
was sent over with the securities. Neither was there any information on the account it came from. When I called corporate on a conference call with my bank (they are great and have it recorded) they claimed they had no records of any securities coming into my name on the dates it came
into my local bank/broker. NO RECORDS ... obstruction ... more than obstruction. I filed a claim with FINRA. If you are having serious
problems turn to FINRA and my bank guy said do not do it on the internet ... do it on paper and mail it in.

Helpful?
0 0
S
Jul 24, 2015 3:08 am

ok, folks. I just got a knock on my door from a Edward jones employee. decided to look them up online. and found all of you. wow. well im glad that I do not trust anyone .and to think I told him that I was searching for a good life ins policy that pays this house off when my mother passes and one for my dissabeled son. can anyone tell me how thwey are able to rip people off? and why attorney generals or whom ever you all report them too are not trying to recover your money?

Helpful?
0 0
S
Jun 13, 2018 3:08 am

I have wondered the same thing. I was with E.J. for five years after my dad died and left me with an inheritance. Not only did I inherit money; I inherited my parent's E.J. "advisor." (These advisors are all aggressive sales people.)

Five years later, and $300, 000 less, and after being told that I had spent all the money, I finally moved the remainder to Fidelity, where I am going the self-managed route.

Truth be told, I don't know whether E.J. sales people are just stupid money managers or just out and out crooks. I finally reached out to a lawyer, who said I had a case against E.J., but that it would have to go through arbitration. He maintained that I lost $100, 000 due to oil and gas pipeline investments made by my advisor. He also stated that my returns were extremely poor, far, far less than the S&P. I was misled about the oil gas partnerships by my family advisor, and the low returns are a feature of E.J. products, which clearly supply money to the firm.

Where is Finra and the SEC in all of this? My lawyer said that it's a case of the industry protecting the industry.

Did you know that E.J. is trying to hire ex-marines as their "advisors?" That should give you a clue. Yes, this company is crooked and takes advantage of people who are naïve about investing, which is the majority of us.

I like Fidelity, by the way. I have most of the remaining nest egg in low-cost index funds. These are doing far better than at E.J., and the market has not been the greatest.

Helpful?
0 0
R
Mar 26, 2008 3:08 am

Unsolicited phone call to elderly man asking personal financial information and offering investments. Totally unsolicited. The salesperson calling was a Claudio Boroida and his phone number is [protected]. This was an unsolicited phone call at the dinner hour.

Helpful?
0 0
T

Jones hires their people on the basis of how aggressive they are, not how ethical they are. Jones "advisors" love to condemn their competition while selling nearly all of their clients the same stuff. There is very little effort to address specific needs and goals, just one size fits all at maximum applicable charges. Meanwhile, their "down home" and "aw shucks" attitude keeps hundreds of thousands of elderly and ill-informed clients in blissful ignorance!

Helpful?
0 0
E
Jul 19, 2012 3:08 am

The market goes up and down. No one complains when the market goes up. Do you make appointments to make sure that your account is balanced. Bill Gates and Warren Buffetts accounts fluctuate daily. I doubt seriously that a firm of that size does not have a compliance department.
Most people take more time planning what they are wearing for the day, where they go for dinner then they do planning their future.
I doubt seriously the Edward Jones just gave all yiour money to your ex-wife. you just picked the wrong wife. if you own a njoint account they can not limit access to the money in that account as both of you have access to the money.
it amazes me that people want their broker to make them all this money with no risk.
When people pass away it amazes me how the family dynamics interfere with how you get your money. Attorneyys cost so much more to probate an account. So distributing assets to children--remaning all the assets in your name etc etc takes time and effort..
There are millions of clients at Edward Jones. I have been a client for many years. I understand that the are rules, regulations and tht the market fluctuates. If you dont trust your advisor--then get someone you do. just like marriage--not all relationships work.

A Happy Edward Jones future retiree

Helpful?
0 0
K
Apr 04, 2012 3:08 am

People, you do know that you can contact the attorney general of you state for a formal complaint, Also the FBI has a white Collier crimes division. number is in the phone book under federal offices. You can also contact your congress man. the more exposure to the wrong doings is best. Maybe American Greed well do a story.

Helpful?
0 0
D
Feb 17, 2012 3:08 am

Edward jone gave my money away to my ex wife and cost me every thing I hope they get their in the end they have ruin my life and I had to sell every thing I owe the IRS and state taxes around 200.000 because of Edward jone don't ever give them your money

Helpful?
0 0

Edward Jones is stealing my Grandaughters inheritence, My daughter passed away 5 years ago in an auto accident, at the time she had $1, 000 in stocks at Edward Jones in Chandler, Oklahoma. Over the next 5 years I have done everything to get the account turned over for the estate of her then 3 month old child. Edward Jones has stalled and made excuses every step of the way. Even after sending them a Certificate of death for my daughter and a court order assigning me as custodian of my Grandaughters's estate they still are refusing to do what is right. Never invest with Edward Jones, they are villans and will even steal money from a child.

Helpful?
0 0
B
Jul 01, 2011 3:08 am

Get a life

Helpful?
0 0
R
Apr 07, 2011 3:08 am

My kids have money in Edward Jones account and was making money. I called after I recieved their monthly report and in one month both of my kids lost $30, 000 from their account that was setup by my uncle before he died for them when they go to college. The person overseeing the account didn't call me at all when they were suppose to when it looses money. I didnt receive a call or letter. I called and found out from another advisor in his firm said sorry and that they will notify me when or if anything else happens. I told them to stick their money into a different account that will not loose money at all. She said ok, and she took over their accounts to keep track of them, since the other guy didn't. Well now, after a few years later, the account that their money is in just lost money. HOW? Its in account that doesn't loose money, its a savings account. And now I got a call today to call this guy at their headquarters and talk about my daughters account. Why not my sons? Doesnt make sense. Also when I called tonight, it says "they are Edward Jones Headquarters and that they are closed, please leave your name and account number and a number for us to call you back when we are open." That didn't sound right. When do they say "leave your account number" on their answering machines and number. So, I'm calling my advisor and taking my money out now. I'm scared now and hoping my daughter didn't loose anything. Plus, also taking my son's out too. You can't trust anyone anymore all because of the way this economy is now. People will con everyone and there are MANY con artists wanting your money. Watch out for someone calling you saying their "Edward Jones". If they do, tell them you cant talk right now and hang up and call your advisor. Someone is scamming someone.

Helpful?
0 0
D
Apr 01, 2011 3:08 am

I am so upset with Edward Jones. I'm a single mother of two, and descided to start putting away some money for when I retire. I only invested $400.00 not much to some people, but alot for me. However, my job was downsized, and I decided to take out my little bit of money to help me while I'm unemployeed. To my suprise, I recieved a cheque from them totaling $35.69 as my refund ... I did call my account manager, and left a message for him to return my call, which I have not recieved! When I called the head office, I was told that the rest of the money were for their fees and taxable fees.
WORD OF ADVISE, NEVER, NEVER, INVEST WITH EDWARD JONES THEY SHOULD BE IN JAIL WITH ALL THE OTHER CRIMINALS!

Helpful?
0 0
L

The complaint says the broker is an independent then they bring up Edward Jones so I am not sure which is correct but either way Edward Jones does not create the trusts and it was created by the attorney that the family used. Unfortunately some trusts are established to keep spend thrift children from accessing a lump sum of money. Edward Jones has one of the strictest compliance departments in the industry and as the only employee owned brokerage company they bend over backwards to provide service that allows them to win the J.D. Powers awards year after year. If this broker WAS an employee of Edward Jones and has done something wrong Edward Jones has the assets and the integrity to make it right.

Helpful?
0 0
E

Well they closed the account and charged a $200 or $250 fee to review the death certicate and set up the accounts for the beneficiries. My brother is getting the statements and doesnt understand how to read them so he couldnt give me any more details..
I called the boker and he was out, but his assistand said that that their trust department charges for having to split it into accounts for the heirs. I guess they will probably charge another fee to close out the account they just opened for all of us too. This is crazy since I had other accounts that I was beneficiary on at 4 other banks and was able to close them without any fees or problems. In fact Etrade transferred the IRA account and offerred me $1000 as a bonus if I opened a regular account with them. It seems too good to be true, so I am going to check it out, since it may be a scam too. This is the first time I have dealt with Edward Jones and it will be the last. I worked in the banking industry and it is sad to see that so many palces are fee hungry [censored]s. I think Bank of America is the worst, but I have found some good credit unions and local banks that are not out to rob you. People please shop around and ask questions before you invest. Greedy places realize that a bunch of people dont know better and will not question or realize all the fees that are involved. They depend on this to make income instead of doing business in an honest and truthful manner. I have no problem with the broker at Edward Jones, he is jsut doing his job and did not try to force me to keep the money there. He is just the lure that the big fishes there are using when they are trollling for your money.

Helpful?
0 0
T

Where is the SEC? Obviously they do not open cases based on internet complaints. But it is most apparent that Edward Jones is acting with malicious forethought with their greedy scams to separate people from their money. This is the corporate code of Edward Jones: steal whatever you can, send out documents with erroneous data to obfuscate the crimes we commit so we can continue perpetuating our scams on the majority of our investors, send an occasional bonus so they don't ask questions, and one day we'll ride into the sunset with every last dime. HA-HA - you f***ing imbeciles!~~~

Helpful?
0 0
E

My parents passed away and they had their accounts at Edward Jones. I am the executor and I called the rep and was told that everything was set up as Payble on Death to the heirs. The funds are in a liquid account paying barely any interest, but my parents didnt want to risk losing anything and didnt care about making a profit. The account has checkwriting ability.
The rep told me that we would get the money penalty free and no probate is involved. However, he said the account my parents had needed to be closed and new accounts had to opened for all of the heirs. Is this standard practice? At the banks, we got checks payable to the beneficiaries without having to open new accounts.
One of the heirs said the rep called him and tried to get his info to open the new account over the phone, and was told that a new account had to be opened. Is the rep making this up or is it Edward Jones policy. Do they get extra bonuses for opening new accounts. The heir was told that their would be a fee for closing out the new account, but that it wouldnt be that much. I want to know if this legal so I can be prepared for when I meet with the rep and give him the death certificate and other documentation.

Helpful?
0 0

Edward jones have been ranked #1 for Investor Satisfaction in Canada and the U.S for several years running. If you are not comfortable with holding your money for the long term and riding the markets upwards then keep your money either under your pillow or in a cash account. Just dont complain when your money cant buy you half the things you thought it could in 10-20 years time.

Helpful?
0 0
I
Jul 22, 2010 3:08 am

As I read the complaints it seems that the problem is probably a handful of advisors that concentrated on making commissions rather than providin their best services. Can you really say that all of the advisors and staff working for the company are out to deceive their customers?

There are other well known companies with advisors doing the same thing to investors. If you don't follow up with the advisor and let them know that you need to understand your monthly, quarterly and annual statements then I can see why you lost control of your money. Trust has to be earned and if your advisor doesn't earn it you should move on.

Just a thought. You are in control not your advisor.

Helpful?
0 0
S
Jul 08, 2010 3:08 am

I took an early retirement in June 2007 because of various medical problems. I had 200, 000 to last me 10 years until my other annuities kicked in. I was guaranteed by my advisor that I would not lose money because she had me fully diversified. I told her repeatedly this was all I had to live on for 10 years. She told me to quit being paranoid, I would not lose a penny. When the market caved in, she told me she purposely ignored my goals and screamed at me "YOU HAVE NO RIGHT TO RETIRE, GET A JOB. I invested your money for when you really retire, 10 years from now" Then she sent me an email asking me to set up a meeting. I thought she was "nuts", I didn't realize she was setting me to make it look like we hadn't had a conversation. The compliant department denied everything. There salespeople, I mean financial advisors, are not held to any ethical standards. I have never dealt with such vicious, cruel unethical people. RETIREES BEWARE!

Helpful?
0 0
C
Jul 05, 2010 3:08 am

Just left them last month. Broker tried to act like he fired me when I already told him I was leaving and my new account at Vanguard was opened the same day he mailed his notice to me. Guys they are like most others out there - they are selling what they are told to sell and not investing anything. Wise up and get out of the market by purchasing a save fixed indexed annuity and leave Wall Street to the crooks and the victims.

Helpful?
0 0
G
Jun 18, 2010 3:08 am

edward jones is STILL scamming people...how can this keep happening and who is ever going to stop them

PLEASE PLEASE PLEASE WARN OTHERS ...GET THE WORD OUT THAT THESE THIEVES ARE STEALING MONEY FROM INNOCENT VICTIMS...they are white collar crooks at their finest..

NEVER EVER INVEST YOUR HARD EARNED MONEY WITH THIS FRAUDULENT COMPANY !

gastona

Helpful?
0 0
C

How true. Most people should look at the Edward Jones lawsuit they settled (one of several). Over $100, 000, 000 they had to pay out for putting people in high commission funds when they had better ones available and of course the kickbacks from their big 6 including Hartford and five other cos.. EJ made a killing off of soaking people. RUN people!

Helpful?
0 0
G
Apr 14, 2010 3:08 am

well guess what...i've now heard back from edward jones' compliance dept. and as expected, they're equally as useless as their salespeople...they never even mentioned or addressed all the unethical and fraudulent practices and things that my salesman did, which lost me close to $75, 000.00, some of it being money from my mothers' will...the exact same things they've been fined for in numerous states like selling you those bogus funds (like putnam) at HUGE paybacks to themselves...and then they even had the nerve to refer me other edward jones salesmen ! ... lololol...as if...such THIEVES they have at this "company"...who in their right mind would go near them?!...(if only i had done research before trusting these crooks)...
as i keep saying...RUN AS FAST AS YOU CAN FROM EDWARD JONES...they are the ### of the earth and need to go out of business...tell people to stay clear, esp, if you have no knowledge of the markets...how many more innocent victims will they rape financially before they're stopped ?...the markets are unsafe with creeps like this around...
gastona
ontario

Helpful?
0 0
O
Mar 29, 2010 3:08 am

EDWARD JONES IS ABSOLUTELY TERRIBLE

i've filed several complaints with edward jones for their poor service and advice, ending with me losing close to $75, 000.00 over 4 years...my salesman blamed it all on the recession, even though the ceo made 6.6 million in 2008, and their other 5 top advisors made multi-millions as well...yet they cried about their 38% pay cuts, poor babies !...my salesman also got his huge commissions of course, even though i lost big time...

http://stlouis.bizjournals.com/stlouis/stories/2009/04/06/story2.html...

my salesman now won't answer my questions (what can he say, really?) and assumes no responsibility and worse yet, no accountability at all for my losses...he sold me poor funds to start with, the same funds edward jones sells to everyone only for million $$ paybacks to themselves...putnam went under at huge losses to all edward jones employees and was involved in a scandal since 2004 yet ej kept selling their funds...

their commissions and fees are outrageous for their "service" and paybacks, and my salesman didn't even mention the added fees to get out the funds and i'm quite sure he'll get some percentage of the fees for that too ...

i filed complaints with their compliance dept. (still under investigation), the regulatory board and securities commission, (both are still investigating) and if i don't get the answers and compensation i deserve, i'll file with my ombudsman and then if need be, a lawyer...there are numerous legal firms online who have taken on edward jones in class action suits and won back millions...they also prey on people with little knowledge of the markets like seniors and non-financiallly/business orientated people...creeps that they are...

whatever happens, if i can save even one person out there from investing with this horrible scam of a company, i'll do whatever i can...
get the word out... "run as far away from edward jones as you can !" ... put it on facebook/my space, twitter, emails...anything you can do to save others from HUGE LOSSES (at huge gains to edward jones)...
investing should be a win-win situation for everyone concerned...DO NET, EVER, INVEST WITH EDWARD JONES !

Helpful?
0 0
K
Feb 27, 2010 3:08 am

I worked for Edward Jones as a BOA and was fired by the firm because I would not lie for the financial advisor I worked for. Very sad situation after being trained and instructed to follow all compliance regulations. I am not at all surprised this country is in such financial termoil when we have crooks running the show.

Helpful?
0 0

I am in the preliminary process of conducting an investigation where a broker employed by Jones, gained access to relatives money who either had just sold their homes or were on their death beds.

The broker signed up 4 accounts of people over 80 years old and managed to get her hands on family funds by coercing the elderly into signing power of atty etc. I finally caught her when my father passed and against his instructions his money ended back in a new Jones account. My father went to see an atty and closed out his account with Jones and the family was instructed to never put his money in Jones or in the care of this broker. May father is 95

This elder financial abuse is a horrible thing to discover. The victims are unable to protect themselves and the broker at Jones did all her schemes in secret with the help of her spouse. Another 90 yr old lady was told that she could stay with the broker. They put her in a nursing home and a few months later she died leaving all her money to the broker's husband. Her blood heirs received nothing. He got her money and brags that she wanted him to have it and not her family. He just took the money and probate was never involved.

I requested information to audit my parent's investments and the broker won't cooperate so I am forced to take this matter into the US District Court as her deeds were done innerstate.

Jones has a responsibility to evaluate all new accounts and they failed to address the issue that these people are too old to be involved in trading accounts.. Broker misconducted violations are apparent.

If anyone has any input, all the help I can get will be appreciated.

I feel for every one of you that was ripped off. If you have any money at all, these white collar, uneducated brokers, know how to steal it from you and they will.

Helpful?
0 0
G
Feb 20, 2010 3:08 am

I'm not sure if you understand the basics of a living trust Stephanie... The Edward Jones Advisor has to follow all implications of the trust, even if an heir or close family member believes that he or she deserves those monies. Fortunately, the EJ Advisor was just doing his job. Otherwise, Edward Jones' headquarters will be glad to release any information that is rightfully his. Furthermore, it is clear who has the "nasty behavior." Bad mouthing about a reputable firm and all of it's employees is rather childish and reactive. "A real intelligent" person would not talk in such terms about a fabulous firm. My whole family works with EJ, including friends and some of my co-workers, we are all glad and wouldn't go anywhere else (we've given many other institutions a try already!). If you chose not to work at EJ, well I'd hate to say that they have been in the top 10 best companies to work for according to Fortune for many years now. Good luck to ya!

Helpful?
0 0
P
Feb 13, 2010 3:08 am

I SET UP A SOLO 401K ACCOUNT AND TRANSFERRED THE MONEY OUT AFTER A SHORT TIME. I'M SURE THEY HAD A PLAN FOR ME THAT I WOULD NOT LIKE

Helpful?
0 0
S
Dec 17, 2009 3:08 am

Wow, if you happen to be employed by Edward Jones, which is the most likely reason for your nasty attitude... then you are a pretty bad employee. A real intelligent, loyal employee would want to make sure that allegations such as the man or woman posting is making are false before making ignorant comments. I was looking into employment with Edward Jones and found factual evidences of suits against this company. I am sorry you are sad, ignorant individual sir. And people like you are the exact reason why I will never work with Edward Jones, thank you for help. Also, you have no idea how this person's parents set up this trust, for all you know... they would be rolling in their graves to know that their child has no knowledge of what funds are in his trust. It's disgusting that the poor person can't even retain legal help to make sure their trust is secure and correct. Again, thanks for making the decision obvious.

Helpful?
0 0
A
Feb 22, 2009 3:08 am

It seems this person is just unhappy with the manner in which his parents established their trust.
Most parents establish trusts like this to prevent their irresponsible, slime ball, children from blowing their legacy on drugs and other vices.

Helpful?
0 0
ADVERTISIMENT

Learn how the rating is calculated

88 complaints
23 resolved 65 unresolved

Edward Jones contacts

(added by reviewer)
12555 Manchester Rd, Missouri United States

Most discussed Edward Jones complaints

Unethical behavior
1
(posts on this topic)
ADVERTISIMENT