Edward Jones

I have a great financial advisor. I have my MBA and other post graduate education. When I contacted Kate ** to discuss my Sister's account, I was treated rudely and Kate was very condescending. My sister was on her death bed and as the Executor of her Will, there was information that I needed in order to carry out my dying sister's wishes. Kate insulted me by asking if I knew what "superseded" meant. I have only written Contracts, negotiated Contracts, Software Licensing agreements for 30+ years, so yes I knew what "superseded" meant. She would not allow me to talk, but continuously talked over me.

Stupidly I went to use a financial adviser to see if I can retire. They now have over 22000 of my money. Because of the virus and all I should help with (and all bills to pay) I asked for my money back.... Nope. They keep saying oh TAX TAX TAX and keep saying no won't give me my money because of tax. So, what the hell? I cannot pay my tax AND not pay my mortgage or help my daughter who has is unemployed. So yeah I guess I'll end up living on the road not in the home. And may never EVER see my 22000. So don't lose your money by using them.

I went into my advisor in January 2020 and told my advisor with her secretary right there that I felt the market was too high and that I wanted 80% CDs and 20% stock market twice to make sure it was done. I got back off vacation in March and had lost big!!! Confronted my advisor and she only said sorry!!! She hadn't done it!! When I started an investigation she and her secretary lied about it!!

I wanted to feel them out, so I called to ask if I needed to make an appointment, thinking about what questions they might ask & how I would answer...just as I thought, pompous & arrogant. The question of how much I was able to invest was EARLY in the conversation. Now, I have quite a bit more than $1000, but I needed to know if I was dealing with human beings, before committing. How sad, as I said "up to $1000", the "person" I was speaking with, repeated "up to $1000", putting strong inflection on "up to", then said I'd be better off with Charles Schwab. My opinion: Those who worship $ & care not for the rise of their fellow man, are nothing but pure evil, being only the shell of a man themselves.

Updated on 05/30/2020: They had a decent amt of money than just half of that (dont want to say obviously). They traded so much they made "financial gains" = to 1/4th then almost 50% of what I had yet I never saw a dime in the amount my account was worth. Nevertheless that is considered "income" so my tax es went up almost 4000$. I lost state assistance because they considered the "financial gains" income as well. I am a senior on a very fixed income and because of their complete mishandling of my account I have to struggle to take care of some things that the state would help with me but for the "income" from Edward Jones "financial gains. 2 moths ago I made a complaint. Was emailed they were looking into it and never heard another word. In my opinion from my experience they are untrustworthy.

I requested rollover (from EdJ to my new opened 401(K) - simple act of consolidating accounts to lesser expense related one). They initiated distribution! Funds lost in tax and penalties - none due to my fault. Incompetent and irresponsible - please spare yourself the hell I am going through. Account opened and managed by Huntsville AL offices (two of them) - both incompetent; the 1st one messed up my initial transfer/account opening (due to divorce proceedings). The 2nd one the minute I said I want to roll over my $$ showed the true revengeful side and did not fulfill my rollover request. Same ignorance and irresponsiveness from the complaints@edwardjones.com - the ONLY way to file complaint. No protection as consumer so do your diligence (wish I did mine) and AVOID THIS COMPANY.

In 2018 my FA notified me that I would have to sign up for EJ's Guided Solutions program as the "federal government" was requiring the company to convert all accounts. He did not tell me that it would cost $100 monthly to do so. And, the government had no such requirement. For approximately 10 months I paid the fees unknowingly until I reviewed my account online. I was shocked to find that the pennies I made were all erased.. and then some.. by the roughly $1,000 I lost by trusting I was not being taken advantage of. Additionally, returns over several years were meager. What a scam. Stay away from this company and their corrupt advisors who have only their self-interest at heart. I should have known. The FA lives in a trailer!

Six months after opening a 401k with my company, I switched companies to one that uses a different 401k company. I contacted EJ and was told I needed to wait until this month, this year. Diligently I began the process to get my funds transferred on the 6th of this month. My calls and emails went unanswered longer than really is acceptable. Finally!! I got a reply and was told they would send me the form in the mail. Then that took almost 2 more weeks. When it came, it was glued to the inside of the envelope, so it ripped. I called the local EJ office and got a voice mail. Because I have a job, I was unable to accept their calls when they called me back. Then they text me saying they couldn't get a hold of me. This was the same day.

While I realize the stock market is unpredictable, my EJ advisor, Gary ** in Potsdam, NY told me I could expect a return of 6-7% annually on average. What I actually received was a return, over 26 months, starting in Nov. 2017 and ending 1-13-20 was 3.29%. This anemic return over 2 years when the stock market was soaring! Then, when I went to roll over to another broker on 12/20/19 my transfer was delayed and did not occur until I made several calls to EJ and my present adviser, until 1-13-20 which delay necessitated my paying 2 "program fees" totaling over $100, PLUS and $95 "transfer fee." All in all, Edward Jones made more money than I did over the 26 months. 3.29% over 2 years doesn't even keep up with the rise in the cost of living.

I have read all your posts about EJ and the situations that you are all in. I am in a similar boat. I have about 30k tied up in a SEP IRA and it was originally 1 account and they separated it into multiple accounts which I am furious over and just learned of. I call my EJ FA and can never seem to get him live on the phone and when I do they say hold for the long term etc same old advice. Does anyone know of a company where I can transfer my money out of EJ with minimal fees so I can get liquid to invest those funds into real estate instead? Would love to hear some feedback. Thank you.