Edward Jones

In 2006, I setup two 529 accounts for my kids' college and a Roth IRA for myself. The Edward Jones "Financial Advisor" was still trying to get me to put more money into these accounts as of late 2007. "Price or earnings ratios are at all-time lows," he told me. Fortunately, I did not put in any more because all three accounts are still negative. In addition, I was charged a $40/year service charge—but for what service?

I finally decided this year to cut my losses in two of the accounts, close them and take the tax deduction. The third one is still down 10% from my original investment. What really ticked me off is that they charged me $40 plus $95 to close my Roth IRA! I get this after five years of losses and no service!

It is most unfortunate that I have no choice but to be an Edward Jones customer. My Mother passed away in January 2005 with the belief that I was in good hands. It was the beginning of a journey to the ninth ring of hell that will never end until my dying day. The details of how this all came about can fill a book. It has everything from ethically questionable actions to felonious financial fraud. But I will only address the current matter at hand.

Through the Edward Jones Trust Company (EJTC), I was offered the opportunity to try a bill paying service that they were offering. I agreed to try it out. Problems arose on occasion but I was able to handle them through phone calls and letter writing. Then in December, I was hit with a problem, or rather a disaster! I was notified on December 29th 2010 that they would no longer be paying my bills on two storage units that I had been renting since June 2006. One held inventory for my online businesses for Vinyl LP's, 45's, books, etc, and the second held items left from my parents estate.

My main finances for cost of living arrive on the 15th of every month through the same trust. My payments for my online businesses are scattered, but mainly arrive in the latter part of the month. So coming off of Christmas, there was not any spare money around to pay these bills which are due on the 1st of each month. I was given a two-day warning on EJTC's plans to default on these payments. I have every piece of correspondence ever received and there is no warning until the December 29th grenade. A 15-30 day warning and I would have made arrangements to have the contents of these units transferred elsewhere.

By the time I had some money available to attempt to cover the costs, penalties and fines had attached. By mid-February, the funds needed for the inventory unit was about $300.00, and sales are slow post holiday. On Monday, March 7th 2011, I lose possession of the contents of both storage units. Among other items, WWII artifacts are stored in the other unit. 75% of my vinyl records are stored here. I have written more than 1/2 dozen messages to Ms. Haley explaining the hardship that this was placing on me and the future of my business, with only one rambling response that offered no solutions about helping me.

It's not that the money is not available, at the very minimum there is more than $500,000 in the accounts also of interest. After my mother passed away, we had rented a storage unit in the city where she lived. I had emptied this storage and had told EJTC about this. They continued paying from my funds on the unit for over two years after it was empty.

I currently stand to lose between $15,000 to $25,000 of my inventory. In my office, I store the majority of the CD's and books. As I explained to EJTC, the CD market has crashed with prices and demand bottoming out. Books are trickier to predict with electronic readers and such, but demand is definitely on a downward trend. CNN reported last week that vinyl record sales have rebounded after a 20 year decline. But the obvious intent for the payment default is to intentionally damage my health. I have Type 1 diabetes, among many other serious health issues, and a long-term stress attack can shave what few years I have left on my life expectancy.

I'll turn 49 in April and I have a half-sister who will benefit quite nicely upon my demise. She has somehow convinced EJTC that they will benefit also if they can speed up my earth trip. She is doing quite well and has persuaded EJTC to assist her. In fact, they are in complete control. I have not spoken too or seen her in over three years. I am not some spoiled silver spoon freeloader whining when I do not get my way. I am someone under attack by a huge corporation spurred on by a spoiled two-faced master manipulator who will stop at nothing to destroy my livelihood. I cannot seem to find anyone in the legal community or otherwise who does not tremble when you mention the name EJTC to them!