Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Minority-broker discrimination lawsuit
Minority stock brokers alleged that the firm did not provide equal access to support programs and lucrative territories. Edward Jones settled the lawsuit for a reported $34 million.
2020
Edward Jones sues former advisor over client solicitation
Lawsuit filed
Edward Jones Investments filed a lawsuit in federal court in Missouri against Andrew Stotler, a former advisor, alleging that he breached non-solicitation agreements and took client contact information when he left the firm to join LPL Financial. The dispute centers on the transfer of client relationships to his new firm. The case was reported in May 2020.
Edward Jones sued former advisor Andrew Stotler in federal court in Missouri, alleging that he breached non-solicitation agreements and took client contact information when he left to join LPL Financial.
Source excerpt
The lawsuit, filed in federal court in Missouri May 1, marks the to enforce former employees’ client contacts.latest effort of a big brokerage firm
Edward Jones is suing an advisor who left to join rival LPL Financial, accusing him of breaching non-solicitation agreements by enticing the “majority” of his clients to move to his new employer.
2015
Retail customer overcharge proceedings
The SEC required Edward Jones to pay a $20 million penalty in a matter involving allegations that retail customers had been overcharged.
2004
Mutual-fund revenue-sharing disclosure proceedings
Regulators alleged that Edward Jones had not adequately disclosed revenue-sharing payments received from selected mutual-fund families whose products it recommended. The settlement included a $75 million fine and additional website disclosure.