Financial Consultants
Edward JonesHeadquarters
Information and Alerts
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Alert Details
This business has 1 alert.
Government Actions
NASAA vs. Edward Jones
On January 17, 2025, fourteen states as members of the North American Securitites Administrators
Association, announced a $17 million settlement with Edward Jones & Co.,
L.P. This came from an
investigation into how the broker-dealer managed situations where customers
paid upfront commissions for Class A mutual fund shares but later transferred
their investments into fee-based advisory accounts.
The investigation, led by 14
state regulators, found gaps in Edward Jones's supervision, particularly
regarding fees charged when customers switched account types. This review was prompted
by the 2016 Department of Labor Fiduciary Rule, which required stricter care
standards for retirement account advice.
As part of the settlement,
Edward Jones will pay an administrative fee to each of the 50 states, D.C.,
Puerto Rico, and the U.S. Virgin Islands, of approximately $320,000.
Important Information
Customer Complaint
BBB has received consumer complaints against Edward Jones which allege difficulty accessing money in accounts difficulty getting a representative of the company to assist them.
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