ComplaintsforEdward Jones

• Initial Complaint

  01/11/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  After 18 years trusting Edward Jones (EJ) financial advisor, ***** ****** (**), he disregarded instructions on 2-14-22 to transfer all our mutual/bond funds to money market. Part were not moved for 9 days; the rest 119 days later. We lost $12,243 due to **’s unauthorized actions-a hit to retired military/senior citizens. We requested explanation-got no reply. Complained to EJ who said ** claimed we agreed to his actions which is untrue; no records exist to substantiate his claims. Asked why he traded as he did, EJ rep said that she’s an attorney, not a financial advisor, and refused to answer about his lack of records. EJ condoned and failed to address **’s misconduct, effectively approving it. They offered a third of our loss (admitting **’s culpability) but will not take responsibility for the total and **’s malfeasance. Complained to FINRA-received no reply. Complained to SEC, who sent our complaint to EJ, who again offered a third of our loss. SEC, who claims to “deter misconduct and hold wrongdoers accountable,” will not do so. ** violated major securities tenets. He: - purchased/sold securities that contradicted our direction. - switched from one mutual fund to another with no legitimate investment purpose. - can not provide records of his communications and investment advise to us, violating the Investment Advisor’s Act of 1940. - was untruthful about the transfers and unable to explain his actions. - misrepresented statements of fact-said all our assets had been moved to money market. - abused his position of authority moving our holdings as he did and issuing false statements. - demonstrated bad faith and unethical behavior and conduct by not admitting the truth. - was not loyal to clients. ** transferred our accounts to another agent, who explained events and confirmed that there were no notes on our accounts, and no apparent, logical, or financial reason for **’s actions. Please assist us in reclaiming our lost assets.

  Business response

  01/22/2024

  Edward Jones takes all client concerns seriously. We have reviewed this matter and have provided multiple responses to Mr. ******.  

  Customer response

  01/28/2024

  Complaint: ********
  
  I am rejecting this response because:
  We reject this Edward Jones’ response just as we have rejected their previous responses.  They refuse to admit total liability for ***** ******’s illegal and obstructive failure to follow our investment directions, they condone his fabrications and lack of records, and they will not provide bold decisive leadership to fully investigate his incongruent transactions.  ***** ****** knew our intent was to preserve our assets and had previously advised us to do as we instructed him. We believe he knew what he was doing - his actions defied intelligence and were possibly based on personal motivation, as there are no logical arguments for him violating our directions as he did. Edward Jones ignored federal statutes, allowed ***** ****** to advance his own agenda at our expense, deplete our savings, and endanger our welfare.  Edward Jones violated laws they should be upholding and did not prioritize clients’ well-being, instead supporting the abhorrent actions of their employee without a thorough investigation.  We totally denounce their inaction and inhumanity; no response other than complete remuneration of our lost assets will be satisfactory.
  
  Sincerely,
  
  ****** ******

  Business response

  02/02/2024

  We have responded to this client on multiple occasions and will not continue corresponding with him regarding this matter.  Any new correspondence will be reviewed to determine if further action is required. 

   

  Thank you, 

  ***** *******/Complaint Investigator

• Initial Complaint

  12/31/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My advisor **** ***** was quite rude , and I want a new advisor,I contacted his supervisor ***** who was extremely unhelpful, and tried sticking me with someone with three months experience

  Business response

  01/03/2024

  We will respond directly to the client. 

  Thank you,

  Complaint Department 

  Customer response

  01/04/2024

  Complaint: ********
  
  I am rejecting this response because:
  
  Because I am amending this complaint because the regional manager 
  ******** ****** has successfully blocked me from getting a new advisor, ***** ***** was willing to take me on I got a nasty call from Ed Jones home office that ******** ****** doesn't want me to have an agent and I have thirty days to get another company or my securities will be liquidated ! Every Ed Jones agent I called except ***** ***** would not even talk yme 
  Sincerely,
  
  **** ***********

  Business response

  01/05/2024

  Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.

• Initial Complaint

  12/28/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I used an Edward Jones agent in ******** - ***************. My name is ***********************************. I called ************** on 12/26/2023. I wanted to set up a 529 in 2023 and deposit $5,000. We get 5% back from the State of ********. So that is $250. ****** wasnt in so I spoke with his assistant. I dont know if she violated the law by doing the financial advising without ******. But she assured me that if we did the paperwork on 12/26/2023 that Bright Directions (529 company) could process by the **** which is 12/292/2023, so we ge the $5,000 into the 529 account. After I signed the paperwork on 12/26/2023, I called Alhitis assistant around 1:45pm. She said after she received it should would let me know. She didnt contact me. I called her at 4pm. She said she got it and dropped it off for mailing overnight. She said she would call Bright Directions on 12/27/2023. On 12/27/2023, I had not heard from her so I called her at 3pm. She said she didnt contact Bright Directions and said she wasnt going to call them. She said she sent the documents and they would arrive on 12/27 or 12/28. I said if they were sent overnight, they would arrive on 12/27. She refused to call Bright Directions, so I called Bright Directions. The Bright Directions CSR asked for the tracking number. I called the EJ assistant back, she said she sent is **** and would text me the tracking number in 15 minutes. After 30 minutes, I hadnt received anything so I called. She didnt answer, but she did send a tracking number. The number was for **** (She lied about ****). The tracking number also only said label created. So the assistant did not drop the package off on 12/26/2023. The assistant LIED to me. It wont get processed in 2023. Because ******* office lied and didnt do what they were supposed to. I miss out on 5% of $5,000 from the State of Illinois which is $250. I want a check for $250 due to Alhitis failure as an Edward Jones agent.

  Customer response

  12/28/2023

  Attached are the signed release pages.

  Business response

  04/22/2024

  Edward Jones takes all client concerns seriously.  We are reviewing this matter and will seek to reach a resolution directly with the client.

• Initial Complaint

  12/23/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  After realizing there was fraud activity on my Edward Jones debit card - I called the toll free number ************ on 12/22/2023 at 10:40pm CST and got the RUDEST customer support agent ‘ever’ - who basically told me (on a recorded line), in part, “that even though the $59.99 charge (12/11/2023) was from a fraudulent site - it was not the responsibility of Edward Jones to assist”

  Business response

  01/05/2024

  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

  01/05/2024

  Complaint: ********
  
  I am rejecting this response because:

  The business - Edward Jones - hasn’t even contacted me whatsoever!
  
  
  
  Sincerely,
  
  ****** ******

• Initial Complaint

  11/17/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  My husband moved our funds to *** ******* in 2018. In 2019 til 2022, we have been dealing with my husband having lymphoma. My husband and I met with *** at his office in May/June of this year. He reviewed our investments. ***** told him he was concerned and told *** to go into CDs and be more secure at this time, because of guarantee income and no loss. *** told him ***** would be better and we would still have the same affect as CD's. ***** said ok, go with that. I viewed our statement, and we had lost approx $5,000 in one month with a total of $15,000 from the time we met with *** about *****. ***** asked ***, didn't you go with ***** to guarante income? *** said, well you don't have those *****, *** did not get those that we wanted. He did something else and said that he did not think those bond (guarantee) was not the right move. ***** told him, that is what I told you to buy, the guaranteed *****. I called *** on October 18th, 2023 and told him we were moving our funds to another company and would be transfering money on Tuesday, October24th, 2023. I told him out of courtesy, We started transferring funds on Tuesday, October 24th. Edward Jones would not release the greater amount of money over to Fidelity. I called ***'s office. ******** told me that *** was in meetings the rest of the day (Thursday), was off on Friday and could not talk to me until Monday. Not acceptable. I drove to his office, walked in and told ********, I know he is in meetings but I would wait til he had a bathroom break or was leaving. He came out of his office with a couple about twenty minutes after I arrived and waved to me. I told him that I would wait til after his next appt. He invited me in....he lied, he had no appts. He pulled up the accounts not being moved over and told me that Fidelity did not know how to use their software and that was why. I told him I wanted our money out of his office and over to Fidelity. Our accts did not move over til November 14th!!

  Business response

  12/01/2023

  We will respond directly to the account owner. 

  Customer response

  12/05/2023

  Complaint: ********
  
  I am rejecting this response because:  This is not acceptable.  *** *******/Edward Jones has to step up to plate and give their response here on BBB and show accountability and responsibility of amount due.  They say that they will respond directly to the account owner.  They give no time or let you know their answer.  Seems like that is their way of doing business.  Not acceptable.  We want to be compensated for $10,000 that we lost because *** did not do what we told him to do.
  
  
  
  
  Sincerely,
  
  ****** & *** *****

• Initial Complaint

  11/14/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been trying since February of 2021 to have Edward jones honor my deceased fathers TOD agreement. I tried to have myself and my minor child’s funds transferred and been refused numerous times. I have sent complaints to client relations. They will not even give me access to view the account statements for my minor child’s account as a parent or as personal representative of my fathers estate.

  Business response

  11/21/2023

  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

  11/22/2023

  Complaint: ********
  
  I am rejecting this response because:
  
  Thank your for your efforts in trying to help me and my minor son receive our funds from Edward Jones. Unfortunately, I still have not heard from the company in regards to this matter and I was curious who you recommend I contact next? Or should I go ahead and begin filling out arbitration paperwork and go from there? The only problem is I have no idea how much money my minor son has lost since no one has been allowed to access this account in years as they are all in “restricted” status since my father passed. Please point me in the right direction and thank you again.   ****** *****
  
  Sincerely,
  
  ****** ****

• Initial Complaint

  10/30/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My husband has three accounts with Edward Jones. My husband had a stroke and was diagnosed with two types of dementia. He has moments of forgetfulness; however, the doctors deemed him incapacitated. I was told to go for guardianship of my husband, but the attorney at the courthouse said that I should become Power of Attorney since my husband has clarity. My husband signed the power of attorney form in front of a notary. The attorney at the courthouse said that only a judge can deem my husband incapacitated. Edward Jones refused my husband his money. My husband even talked to Edward Jones himself and they still refused. My husband wants his money he worked hard for. I am in contact with an attorney.

  Business response

  11/13/2023

  Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.

  Thank you, 

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

  Complaint Investigator

  Customer response

  11/19/2023

  Complaint: ********
  
  I am rejecting this response because:
  
  After Edward Jones refused me the first time with an attorney at the court house telling me to go for POA and writing a letter of statues, I contacted her and she gave me three law offices. I contacted one and was told to get a re-evaluation done on my husband (*****).  Attorney’s that work in this know the laws so I went and had this done by Dr. ****** ********** and they refused it now wanting a letter from his regular MD. Both of these letters are attached and were done by professionals and the legal advice I was given I followed.  EDWARD JONES does not want to give *** his money.  He worked for that money and they are playing games. I am DONE I give them what they want and they want more. I am told by an attorney what to do and they need to accept it and they’re not.  This has been going on since don’t quote me July or August.  I got the POA in September and that is what the attorney at the Court House recommended.  This is what she does is help people either prepare the POA or Guardianship papers for court.  She knows the law but yet Edward Jones even after two attorneys I talked to is still refusing to give him his money.  I understand it is getting pulled from stocks and will hurt the stock market, but it is his money and if they wouldn’t have given me so much grief and let me pull when I needed money I would have worked with him, but he is one you cannot work with and I want to put his money elsewhere. My husband has agreed on all of this that he wants his money withdrawn from there and put elsewhere, where we will not have issues withdrawing his money when needed.  My husband is very angry saying they are thief’s. I agree and proved all the legalities and did everything I was suppose to.  Now it’s there turn to give ALL HIS MONEY WITHIN 7 days.  I sent out the letter from his regular MD on Saturday, November 18, 2023 to ***** at Edward Jones.  No excuses my daughter talked to someone at Edward Jones on Friday (sorry don’t have her name) but said Edward Jones is requiring a letter now from MD.  Well, they have it.  No more excuses!  I will sue them.  I tried sending you the two letters by attaching them but it said file was to large and this is the only way I know how to do this was so I attached them below.

  Aurora Health Care:
  11/17/23
  ***** * **** **** * **** ** ********* ** **********
  I am writing this letter to inform you of that Mr. ***** M **** who has been under my care. Based on my professional evaluation and Dr. ****** **********'s evaluation that ***** M **** has the mental capacity to make informed medical and financial decisions to activate a power of attorney.
  Sincerely,
  *********
  ******* *********, MD
  Aurora Internal Medicine-Mayfair North
  **** * ******* ** ********* ** ***** ****** ************ **** ************

   

  Business response

  11/24/2023

  Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.
  Thank you, 
  ***** *******
  Complaint Investigator
  

  Customer response

  01/16/2024

  This has been ongoing with Edward Jones. I wanted my husbands 401K transferred with any other accounts with Edward Jones and I signed all the paperwork from the banker (********** Bank) where I wanted it transferred) I receive emails from the banker stating that she has not received anything as of January 12, 2024 even though I completed all the paperwork. When I went into Edward Jones under my husband’s account as I am legally the POA on his accounts I noticed there was 3 accounts under his name. My daughter Samantha was sitting right there when I pulled up his accounts. I should have taken a photo of it right then and there. I went back in again after thinking about it and they blocked it so I could not see his accounts anymore. According to what was there he should have had over $300,000 and now I have no proof except my daughter saw it also. They won’t give an explanation as to why all of this was not transferred and what they are hiding. Something is not right. I should have taken a photo of it, but they got sneaky and locked me out stating I needed to go under my own account for him when I am the one who set up his account in the first place. I know way back my husband had a 401K that was from a different place he worked at. He rolled that into Edward Jones and it showed two accounts as they couldn’t roll it into his 401K from his present employer. When I went in there was 3 accounts. The one that was rolled over was $20,000.00+. Something is fishy and they don’t want to give him all his money. To lock me out saying I needed to go under my own account so I could not see what was in there. I have my daughter as a witness there was 3 accounts what happened to them? My husband would tell me he had over $300,000 all the time even when he became sick. No explanation from EDWARD jones just hiding stuff. Why did they disappear and if your not hiding anything why does it matter if I went under my husbands account as I am POA? I have that legal right as I have the legal documentation that was done by an attorney at the Milwaukee Court House. I pay his bills, take him to the doctor and make medical decisions along with financial and I am his caregiver besides his wife and POA. I want the money transferred no more playing these games and an I want an explanation where the rest of his money went? I would swear under oath and so would my daughter what we saw under his account.

  Business response

  01/25/2024

  According to our records, we responded to the inquiry in November 2023 (attached).  If you have any questions or require additional  information, please contact me.  

  Thank you, 

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

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

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

  Business response

  03/14/2024

  The firm's responses to the client are attached.  At this time, we are taking no further action related to this matter. 

   

  Thank you, 

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

  Complaint Investigator

• Initial Complaint

  10/23/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I had an advisor with this company. I checked my statements every month and my money kept going down. I went over to him and he told me I didn't understand and he told me stocks would drop. This went on for a year. Then he was arrested for embezzlement and he went to jail. I went to Edward Jones to get my money back. Then I hit the statue of limitations and now they will not talk to me. I want some of my money back since their employee embezzled my money.

  Business response

  11/16/2023

  Edward Jones takes all client concerns seriously. We are reviewing this matter and will seek to reach a resolution directly with the client.  We responded directly to the client regarding his concerns in July 2023. 

  Customer response

  11/20/2023

  Complaint: ********
  
  I am rejecting this response because: I think I am due money back.
  
  
  
  Sincerely,
  
  ****** ****

  Customer response

  11/20/2023

  I would like the business to put the money back into my account at Edward Jones.  

• Initial Complaint

  10/16/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been attempting since 9/8/2023 to withdrawal/transfer an inheritance left to me by my grandfather. I have retirement/other personal accounts with a different brokerage and am attempting to get the money left by my grandfather moved to the other brokerage. ******* ***** with Edward Jones in Paris, KY is actively refusing to transfer the funds over. I am told she has had the paperwork on her desk for 2 weeks, she is just refusing to cooperate with my personal financial advisor. I have been threated with arrest from individuals within Edward Jones if I call or stop by the office. Calls and emails to **** ***** have not been returned or replied.

  Business response

  11/02/2023

  October 27, 2023
  
  
  
  ******* ***** **** ********* ****
  Lexington, KY 40511
  
  Re: Service issue: ******* *****
  ID of *********
  
  Dear ******* *****,
  
  Thank you for your correspondence dated October 19, 2023, to Better Business
  Bureau regarding the processing of estate for Stivers, Earl. 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, your
  correspondence was forwarded for our review.
  
  We have reviewed your concerns, and it is our understanding that since your letter
  securities were transferred from the decedents living trust account ********* to your
  transitional individual account ********* on September 26, 2023. Subsequently
  transferred from your transitional individual account ******** out of Jones on October
  24, 2023. At this time, we feel we have addressed your concerns and consider this
  matter resolved. Please feel free to contact if you have any additional questions or
  concerns, please contact client relations at 1-800-441-2357.
  
  The goal of the firm is to consistently deliver professional service to our clients. 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
  
  cc. [email protected]
  
  
  
  
  

• Initial Complaint

  10/16/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Hi, I want to first state that in order first us to write a negative review, a business must perform terribly. In this case, we will write a review on every social media outlet we can find, as no one deserves treatment like this. And we are filing a formal complaint with the Corporate Office of Edward Jones. Recently my wife’s father (****) passed away. He was the major bread winner in their house and my wife’s mother (******) was basically a stay-at-home mom. Death is no fun for anyone and even less fun when you must make the arrangements, move your mom in with you, move their household furnishings yourself, rearrange your life to accommodate someone who needs you, and then must deal with all the “paperwork” life insurance, social security, pensions, investments etc…to make sure your mom can live. All while trying to comfort your mother who has lost her husband of 56 years. My wife has been working so hard on all the other stuff, she has not even had 5 minutes to mourn the loss of her own father. In cases like these, most people go above and beyond to show kindness, care, compassion, and empathy towards other human beings. They try to help you navigate the cumbersome waters of an industry perhaps you know nothing about. Afterall, isn’t that the point of service and making money off our hard work? That brings us to ******* T. ***** and ****** *****, Ph.D. WOW, I cannot even begin to tell you the level of unprofessional behavior at this office. We cannot speak to knowledge of investing, but we certainly can speak to his and her ability to interact with a client. My wife worked with ****** prior to speaking with **** to ensure that all the paperwork, supplying the Death Certificate and the General Power of Attorney she has for ****** was submitted so when she spoke with **** it would be a smooth transaction to transfer the account. Well, it began with **** leaving my wife on hold for the meeting for 20 minutes. When he finally showed up, there was no apology for his tardiness, no condolences for the loss of her father and merely an informational transaction to begin the transfer of the account. By 3 weeks later this transaction had still not been completed. So, we had a second call. This call my wife and I both scheduled 30 minutes for the discussion because we were to go over access and discuss finer details into the history of the account and investments. He showed up 20 minutes late again. No apologies, and then we find out that the account had not been transferred, access had not been given etc. A week later, we still did not have access to the account. Not only did we not have access to the account after 4 weeks, if we hadn’t called AGAIN, we never would have. They sent the access approval to ****’s email account, and he died July 12 and no one has access to his email account. My wife again had to call and fight with them, in which they told her that she needed to fill out another form to describe why she has a general power of attorney for her mom. At which time, I intercepted the call and told them if access was not granted by the end of the day, we would have our attorney file suit. Then ******* called my wife back and told her how inappropriate it was to threaten legal actions and that he was going to cut off all communications if it continued. I explained to him that he had until the end of the business day to get access for my wife, or we would file suit. We then called the corporate office for two reasons. 1. To find out the real process for my wife to gain access. They informed us that after receiving the paperwork (turned in by my wife 8/21), it should take 24-48 hours to grant the access requested. And no other documentation was required, as alluded to by ******. In fact, while speaking to the corporate office, they informed us that the paperwork for access to the account had just been submitted an hour earlier (9/14). 2. How to file a formal complaint against ******* *****. We are writing this to ensure no one else receives treatment like this. There can only be two excuses for this, lack of effort and compassion or incompetency. Please do anything in your power to steer clear of ******* T. *****. For something to take 5 weeks, when it should have taken 24-48 hours is incomprehensible. Never an apology for anything they did wrong. Mike & Karen Randolph

  Business response

  10/27/2023

  Edward Jones takes all client concerns seriously.  We are reviewing this ****er and will seek to reach a resolution directly with the client.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩