Edward Jones Reviews

The rollover form was presented for a quick signature after the rollover recommendation had already been made and the decision had been influenced by Mr. **'s framing. The rollover was advisor-initiated but the form was phrased as client-initiated, and does not reflect our phone conversation. The same form contains a printed acknowledgement that the advisor has a financial incentive to recommend rollovers because they generate compensation for Edward Jones and the advisor. This conflict was never disclosed before the recommendation was made.

Significant stock positions were sold, citing diversification, but proceeds sat uninvested for over a year with no reinvestment plan. Commissions were not disclosed. When we sought to transfer accounts elsewhere, we were told everything required liquidation, with no distinction between transferable and non-transferable assets, causing unnecessary tax consequences.

Edward Jones denied all wrongdoing. The dispute was escalated to the Managing Partner, Chief Compliance Officer, and General Counsel. No response was received from any of them. Our accounts were also closed without any prior notice. We have been locked out of our client portal for months and cannot access our own statements, tax documents, or transaction records. Our repeated requests for these documents and restoration of portal access have been ignored.

Call recordings that would show what was actually discussed have not been produced despite repeated requests. Edward Jones paid a $50 million SEC penalty in August 2024 specifically for failing to preserve electronic communications. That pattern continues. In December 2022, FINRA fined Edward Jones $1.1 million for purging phone records, misrepresenting to FINRA that records were unavailable, and failing to alert FINRA once it learned of its own failures.

Edward Jones has also faced the following verified regulatory actions: a $17 million NASAA multi-state settlement in January 2025 for moving clients into fee-based advisory accounts without adequate supervision (the same pattern of conduct my husband and I experienced); a December 2024 FINRA action requiring $4.4 million in restitution for mutual fund overcharges; and a June 2025 NASAA settlement in which Edward Jones was found to have charged more than $11 million in excessive commissions on over 780,000 small-dollar trades, the largest share among five firms sanctioned.

As of today, Edward Jones has on record 173 regulatory actions and 150 arbitrations. These are not isolated incidents. Edward Jones has continued to face sanctions despite prior penalties, suggesting these practices are systemic rather than accidental. Complaints have been filed with multiple regulatory bodies. Our experience with Edward Jones has been evasive, dismissive, and feels very predatory toward clients who are unaware of their rights. Approach this firm with extreme caution.

One of my main concerns has been the continual addition of fees. The fees are high and have made it difficult for my investments to grow. Looking back, I regret keeping my account with Edward Jones for as long as I did. Based on my experience, I do not recommend Edward Jones. There are many other firms that offer lower fees and better service, and that will actually help your investments grow over time.

I came seeking financial guidance, not to have my family subjected to uncomfortable and inappropriate conduct. His actions showed a clear lack of judgment, respect, and professionalism. I expect far better from someone representing themselves as a qualified advisor. This situation needs to be taken seriously and addressed immediately. No family should have to go through something like this while simply trying to access professional services.