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Edward Jones
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Edward Jones

46 W Bridge St, Berea, OH, 44017, US
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Edward Jones - Unethical behavior

I had an IRA account with Edward Jones Berea, Ohio for many years. On 2/18/18 I received documentation from New York Community Bank (my former employer) to rollover my ESOP funds to Edward Jones, Berea. My financial advisor, Greg, was adamant to complete the form and fax it back to New York Community Bank.
I thought the funds form the ESOP Plans were going to be rolled over to Edward Jones as IRA Account. On September 28, 2018, I received notification from the Internal Revenue Service that I owe $3102 in back taxes as the account opened at Edward Jones was not an IRA rollover account it was an Individual Account and that I owed taxes on this incident. When I spoke with my financial advisor, Greg, he became arrogant and blamed NYCB for the incorrect information. He supposedly contacted Daniel Cappiello [protected]) Human Resources at New York Community Bank. I then contact Daniel Cappiello he informed me he never tells anyone to take the NYCB ESOP stocks as a taxable rollover when rolling over to a financial advisor at an institution but had to follow what was incorrectly completed on the form faxed by my financial advisor.
After these conversations, I took a home equity loan against my condo to pay the IRS. I mailed the check to the IRS on 10/5/20 which was cashed on 12/7/20. I did not have $3102 to pay the IRS, I am 68 and on social security.
Since that time, I have moved my accounts from Edward Jones to another financial advisor. I do not agree with what happened with this transaction to the completion of the NYCB transfer form to the reaction of my financial advisor when this transaction was presented to him.
I expect Edward Jones to make repercussion to me because this transaction was mishandled by my financial advisor that I had to pay the IRS $3102. I expect a response from Edward Jones.

Desired outcome: Repercussion to me

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Meagan Fishell
, US
Mar 20, 2022 12:22 am EDT

Dear Lynda, Your SSN is on the letter you posted. Please remove it ASAP for your protection.

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