ComplaintsforEdward Jones

Financial Consultants

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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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Initial Complaint
06/08/2024
Complaint Type:
Customer Service Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I received a letter from Edward Jones stating that because my account had not had any activity on it they may have to turn it over to the state. This account has had no activity on it because Im not yet 65??? This is terrifying to me!! This is my money and I have done nothing wrong !! I no longer trust Edward Jones and I want help.
Customer response
06/10/2024
This matter has been resolved.
Thank you for your time.
**********************************
Initial Complaint
06/07/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
In March my broker left Edward Jones and I elected to follow her to another agency. It is now June and a man named ***********************, who I have never met, has refused to process all of our accounts. Today I find he is holding onto over $60,000 of college savings account money. He has mailed letters claiming emails are returned when I have the same email for 28 years. Calls to his office go unanswered. He has now blocked the number of my new agency as they have also called repeatedly. This is very unethical, in my opinion, to have made not one phone call to me or my wife to rectify whatever problems he has with letting go, and not charging me fees, of our college savings plans.
Customer response
06/10/2024
The issue was resolved and *********************** stated that the local offices did not have anything to do when a client is moving to another broker as he did not have my stocks, etc ...the national Edward Jones office did. It was the national office sending notices to my home about the email address being closed, which as I stated was not true. In any event the issue was resolved once I had reported it to you.
Thanks
***************************
Initial Complaint
04/23/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Edward Jones (**) asked about transferring my elderly mothers (Pat) assets to ********* Financial, **** 4/ 5 *** sends to *************************** the annuity ********************** transfer rejection letter she received in the mail. **** communicates w/ his office @ SSG where Pats new *** is. Week of 4/8 ********** speak w/ ******************* @ the ** about Pats desire to liquidate the annuity. ***** didnt know what to do. He finds out & calls **** back (w/o Pat on the phone). He tells **** what to do, but it proves to be wrong based on **** calling ******* Financial Group (***). 4/10 **** calls *** and finds out that the *** annuity is held @ ** in the name of Edward Jones FBO *******************************. In order for the liquidation and proceeds transfer form SSG submitted to *** to process, *** needs ** to release the annuity & rename it solely in the name of *******************************. **** prepares *** annuity change of ownership form to reflect this change. *** signs on the 11th, but with a date of the 10th to match the forms date **** prepared. 4/11 **** faxes the annuity change of ownership form to ***; **** receives confirmation that the fax went through. 4/15 **** calls *** and they confirm they faxed the annuity change of ownership form to ** on 4/12. 4/19 ********** call ** and are told it takes 5 business days to image in a form, so call back on Tuesday the 23rd to check its status. 4/23 ********** call **. We talk w/ **** at ** corporate office. She says, she doesnt see anything, and asks if *** faxed the form to the right department. We dont know that answer. She tells us that ** is a shell company for the annuity. They dont hold the annuity seemingly passing off who actually holds the annuity and has any power over it. Both companies get paid from it, yet neither claims responsibility for it. 4/23 bypassing ***, ************** the *** annuity change of ownership form directly to ** at fax # provided by **** ************. **** receives confirmation fax went through.
Business response
05/16/2024
Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Customer response
05/17/2024
Complaint: 21614548

I am rejecting this response because:
Their brief reply is vague in nature and provides no proof of resolution.

Sincerely,

***************************
Business response
05/24/2024
"Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Customer response
05/31/2024
Complaint: 21614548

I am rejecting this response because:
A formal apology is warranted. This caused tremendous stress on our family, particularly my mother.

Sincerely,

***************************
Initial Complaint
04/11/2024
Complaint Type:
Delivery Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
For MONTHS now we have bee receiving post from Edward Jones in **************, ** for "FBO *********************** c/o **** ***********************." We have marked every piece of post as "NOT AT THIS ADDRESS!" "RETURN TO SENDER!" and "ADDRESSEE UNKNOWN." Yet, the post keeps coming. Once and for all, there is no one here named *********************** or **** ***********************. Please stop sending post to this address for these people. There are no ******** and no Smiths here!! We are sick and tired of marking the post for return. In this age of COVID, every unnecessary piece of post that we have to handle puts us more at risk for disease. Plus, we just are tired of receiving other people's ****** mail!!!!
Business response
04/22/2024
Edward Jones takes all concerns related to client's accounts seriously. We are reviewing this matter and will communicate directly with the complainant.
Customer response
04/22/2024
Complaint: 21563862

I am rejecting this response because this is precisely what we have asked them NOT to do. NO MORE POST SENT TO OUR HOME FOR ********************* or **************************.
If these people are your customers, it is up to you to find out where they are now and contact them there. It seems to me if their relationship with you was important to them, they would have notified you of their new address a long, long time ago. If I move, I notify everyone with whom I do business that I am moving and give them the date to start forwarding my post to a new address. That is what RESPONSIBLE ADULTS do.
In any case, please do not send any more post to our home for these people. We do not know them. They do not live here, and we do not want to be burdened with their post. If you do reach these people, I hope you will tell them that it is their RESPONSIBILITY to notify the companies they do business with that they have moved and have a new address. SICK AND TIRED OF LOOKING AFTER OTHER ADULTS'S BUSINESS! They were likely worthless, irresponsible, disruptive kids in school, and they grew up to be irresponsible adults still letting other people take on their burden of their responsibilities. I believe it is generational. *****, irresponsible parents raise *****, irresponsible kids who then repeat the cycle all over again.
Enough is enough!
***********************
Business response
04/25/2024
We are in the process of reviewing this matter and will respond when our review is complete.
Initial Complaint
04/02/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On March 13, 2024 I met with Edward Jones advisor *************************. A proposal with an account number was generated. I agreed to transfer funds to said account via ACH transfer. I was given a Client Relationship Summary as of November 16, 2023. The Summary was broad in scope leaving me with many questions as a new investor. The "Select Account Client Profile" otherwise known as Proposal ID # **TE74FV65G, was also a "form" sheet. I asked and met with ******************** to clarify. What is his fee, what deductions will be taken from my inital investment.******************** did not provide me with commission fees, adjustments, nothing verbal or written. I was able to access my account on line and noticed an appreciable decline 6% within a matter of days. I emailed ******************** March 26 2024 canceling any further ACH deductions from my bank to the Edward Jones account. ******************** did not phone nor answer my email issues. I spoke with his secretary, ****** who set a phone appointment between ******************** and myself for March 27 at 9:30a.m. At 11:54 a.m. on the 27th of March I phoned his office, spoke with ****** as to why the 930 a.m. appt. was missed. Miss ****** said "**** has had alot of walk-ins this morning". No explaination as to why, as a new client with serious concerns, was disregarded. I attempted to schedule a 1pm appointment and was told **** would be tied up. I offered a 1:30 appt. to his assistant ******, she said she would get back to me. She never did. On March 27 at 5:50 pm I phoned Edward Jones' ******************** and spoke with "***", she would not give a last name. I reiterated my concerns over the non disclosure of fees, why my initial investment declined 6-7% in days, ************************ lack of specific answers on this loss. I want a full refund of the amount given in good faith on my behalf to Edward Jones refunded.
Business response
04/10/2024
Edward Jones takes all client complaints seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Customer response
04/11/2024
Complaint: 21517086

I am rejecting this response because: The response is not specifically addressing my individual complaint. There is no detail specific to my issues in their response.

Sincerely,

*********************
Business response
04/15/2024
C
Business response
04/17/2024
Edward Jones takes all client complaints seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Initial Complaint
03/21/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I have tried for nearly three weeks to get the Inherited IRA (my father
left me when he died )which is with Edward Jones to move it to an
inherited IRA at a bank. I contacted Edward Jones on 3/7/24 . The
financial adviser quickly sold the stocks, but has repeatedly delayed
doing anything else to release the money! The problem is that the
Edward Jones advisor is making excuses and has been reluctant to work
with the bank and me, continually coming up with excuses and saying it
will get taken care of soon.
On 3/20/24, Edward Jones requested that the bank write a letter that I
had to sign that is asking Edward Jones to send a check made out to the
bank and it would be deposited in my Inherited IRA account. But as
usual, Edward Jones is saying this is not in alignment with IRS rules.
The bank and I disagree.
Further, I am trying to get this done with an adviser in KS and a bank
in KS and I live here in Guthrie.
The only thing we have agreed on is that there would need to be RMDs
yearly.
The Edward Jones adviser told me and the bank that it would all be
transferred with no tax penalty. His story is now changing that this is
against IRS rules. But per their own policy I accessed online it says:
"Transfers of assets between like retirement plans is a direct transfer
from one trustee to another. No distribution to directly to you and is
tax free. You may make unlimited transfers within 12 month period. The
account can be transferred within 60 days to a new account with the same
owners name.
I want my money transferred asap to the bank that has opened the
Inherited IRA account asap. And the games to stop.
Customer response
03/28/2024
It appears that on 3/22/24 a check was sent from the Company. At this time is has not been received in the mail.
Business response
04/07/2024
Firm response was sent to client. Funds have been transferred and matter is considered resolved.
Customer response
04/08/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***** *****
Initial Complaint
03/19/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Trying to have wire transfer completed of our IRA’s from Edward Jones to new CamaPlan IRA’s. Started process 2/6/24, has been 25 working days. Edward Jones has made more excuses for not making the transfer and it’s impossible to speak to anyone that can resolve this at Edward Jones. Our IRA’s have been sitting in a cash account for more than a month at Edward Jones. We want this resolved.
Business response
03/28/2024
We are reviewing this matter and will seek to reach a resolution directly with the client.
Initial Complaint
03/04/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My father died without a will in Oct 2023. Since that time, I have been trying to get money from his acct at EJ released to me. My brother relinquished his rights to the acct, I filed the Next of Kin Affidavit with the State, they issued the short certificate with me as the representative and it was given to EJ to release the funds. They are now saying that because he is listed in the form, that the funds must be split! This form, obtained by the Burlington County Surrogate Office states that, as the next of kin, he consents to have me appointed as the representative to distribute the assets to!!!!!! Edward Jones Estate Department will not talk to me. They keep referring me to the branch. And the financial advisor at the branch has no idea how to interpret estate documents. Edward Jones staff are either outrageously stupid or criminal! They are stating that they must release half of the money to an individual who, through a sworn affidavit, relinquished his rights to the money!! CAN YOU PLEASE HELP ME????!!!?!!!???
Business response
03/20/2024
March 20, 2024
***** ***** ** **** ** ***** ****** ** *****

Re: ***** E. *******
Account Number: *************

Dear ***** *****:

It is the responsibility of the Complaint Investigations department to review and
respond to written communication from a client which may be deemed a complaint.
As such, the complaint you filed with the Missouri Attorney General was forwarded
to our department for review.

We reviewed account records as well as applicable account activity and reached
out to our Estates department regarding this matter. It is our understanding we will
permit the distribution of the account with one signature. Please work with the
branch office staff and Financial Advisor ******* ********* to complete processing.

We appreciate the opportunity to address this matter and apologize for any
inconvenience and concern this situation has caused you. On behalf of the firm,
thank you for the opportunity to serve your investment needs.

Sincerely,

***** *******
Complaint Investigator
Initial Complaint
03/01/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
12/11/2023 Annuity. I filed a complaint as well and no response. My agent at Edward Jones is nothing more than a salesman. Only time you hear from him is when he wants to sell you something. This annuity was a good example. Called me just about every day pushing me to buy. I finally agreed. Almost 30% of my cash, a very large amount too much actually, was transferred to purchase the annuity. After thinking about it I decided with all the high expenses I wanted out on the last day of first look. He would not let me out which is not legal, but it is my word against his. On top of that I lost out on all the gains in the market this year. He is no longer responding to any texts or phone calls. It would be nice to have an agent that is honest and does not only care about his commissions.
Business response
03/05/2024
A Firm Response was provided directly to the client on 2/13/2024. No further response will be provided to BBB.
Customer response
03/13/2024
Complaint: ********

I am rejecting this response because:
They did not contact me all they did was send a letter and say agent had in notes. I would like agent to take a lie detector. He did not let me get out on last day

Sincerely,

****** ******
Business response
03/19/2024
Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Customer response
03/21/2024
Complaint: ********

I am rejecting this response because,
They broke the law and have not contacted for a fair solution.

Sincerely,

****** ******
Initial Complaint
02/13/2024
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Since 2016, I have received dozens and dozens (maybe hundreds, it's hard to tell at this point) of mailings for a former resident of this house. Some weeks we receive multiple mailings. These mailings are sent to **** ********* *** *** ***** ******* ** ***** addressed to ***** ********. ***** ******** has not lived in this home for eight years. She no longer owns this house. I have told Edward Jones this dozens of times. I have asked them to please take any measure necessary to contact their client -- who presumably has an active account with them -- to update their records. I have contacted Edward Jones (both their headquarters office and local offices) on several occasions, including today (02/13/2024) asking that the mailings stop. I have contacted Edward Jones via Facebook on several occasions asking that the mailings stop. I have contacted numerous individual Edward Jones Financial Advisors asking that the mailings stop. I have even sent handwritten letters and cards to several officers at Edward Jones asking that the mailings stop. And still, for eight years, the mailings persist. These mailings have gone beyond a small annoyance. One cannot reasonably be expected to continuously label mail with a 3return to sender ´message for a decade. Because the mailings never reach their intended recipient, I believe Edward Jones is failing to properly communicate with their client. Furthermore, these mailings constitute harassment of my peace and enjoyment of my home. Cumulatively, I have spent probably 20+ hours returning mail and attempting to contact Edward Jones. Please take any actions you can to ensure that Edward Jones immediately stops these mailings.
Business response
02/21/2024
Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
Customer response
02/22/2024
Complaint: ********

I am rejecting this response because: I just want confirmation that Edward Jones will stop sending me mail. That's all I have asked for for several years. Please just stop sending mail to this address.

Sincerely,

******* *****

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