Follow us:
Looking for a financial advisor?
ConsumerAffairs Unaccredited Brand

Edward Jones

Edward Jones
Overall Satisfaction Rating 1.13/5
  • 5 stars
    2
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    0
  • 1 stars
    28
Based on 30 ratings submitted in the last year
SHOW RATING DISTRIBUTION

Looking for a financial advisor?

We'll match you with the right company that knows what you need.

This company is not yet accredited. To learn more, see reviews below or submit your own.

Looking for a financial advisor?

Get trending consumer news and recalls

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Are you this business?

    Edward Jones Reviews

    Sort: Recent
    Filter by: Any

    A link has directed you to this review. Its location on this page may change next time you visit.

    Page 2 Reviews 11 - 20
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 17, 2019

    I had a trust fund with them and I moved it because they lie on the fees, you can never get ahold of them. My lawyer could not even get ahold of their lawyers. They use coercion. I had to sign a paper that I would not sue them, but my lawyer said that is not worth the paper it's written on to get my money out of their hands. It was a nightmare and my lawyer could never get a hold of their accountants or lawyers. Also it is brokerage firm, not a bank. That is a different animal than a bank.

    My financial advisor John ** in San Antonio is a crook, seems like a nice guy, but he gas lights you and I found out half the stuff he told me was not true from the bank I moved the trust to. You better stay clear of the McDonalds of investing. I knew nothing of this investing stuff and am learning from my bank, but it is still a headache. I could go on but I was brought up with ethics. I guess some of these people do not believe in heaven and hell. I don't know how they live with themselves.

    Read full review
    47 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 15, 2019

    DO NOT USE THIS COMPANY! Their advice is horrible and their Guide Solutions SUCK! Beware if you are a new investor. They are so incompetent that you will be ill-informed or not told everything about how they do business. Preying on the inexperienced is their business model. They are only looking out for themselves…not you. Protect your money and go somewhere else. Anyone would be better than them.

    47 people found this review helpful
    Are you this business?
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Sept. 8, 2019

    A new office opened in our small town. We have seen them nationwide in our travels and decided to roll over a large retirement plan with someone local. 1.5 yrs later in the best market we have had in 20+ years and it is flat. Initially it dropped like crazy and did come back to near initial investment, but 0.66% gain in 12 months is all it has performed. My work 401K I manage is earning 15%. Meanwhile EJ has charged over $1800.00 in fees so far just this year (Jan- Sept). They have made more than I have. I became suspicious and had another CFP review my portfolio and he said EJ is borrowing money and using client's money to pay back very risky investment losses. This is called a marginal Flex account on my statement. The CFP stated he will not do this with client money and very rarely for himself without daily monitoring... RISKY and legal!! I am pulling everything ASAP.

    49 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 29, 2019

    I was with Edwards Jones company too long... My money just not grow and still was paying all fee every month? The 2018 was the worst, I lost close to 14% of my investment (with my financial advisor) and when I transferred my money to different company, I lost again, transfer fee... What kind of company robber her own customers? I already told my friends about my experience and going to putting my review on Facebook and Twitter. They spend too much money on luxury vacations!!! I am not going to pay for that!

    50 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: June 12, 2019

    Moved my money into an Edward Jones IRA account (Traditional and Roth). Realized recently I was being charged $10.00 a month (sometimes more) for guided solutions for my traditional IRA. Well the Financial Adviser has never advised me on anything. Not to mention he never met with me annually to go over my accounts at all. $120.00 per year. With nothing to show for it. I wisely moved all of my money out of this account to a Charles Schwab account (no transaction fees or annual fees or bullcrap fees) and realized that they charged me $95 to close my account. They are so quick to take your money, but then will charge you an arm and a leg to have access to your money.

    On top of that with a traditional account, they charge an additional $40 that they don't mention ANYWHERE on their website. Do yourself a favor, shop around for a financial adviser, or if you are competent do a self guided account. You don't need to pay these ridiculous high fees for Edward Jones. Not sure how this place is still even around, seems like a high end Ponzi scheme to me.

    Read full review
    74 people found this review helpful
    How do I know I can trust these reviews about Edward Jones?
    • 2,213,186 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: June 3, 2019

    The Financial Advisor at Edward Jones in Wake Forest, NC falsely claimed that my Mother has dementia (she has never even met my Mother) resulting in Edward Jones' legal department freezing my Mother's account in Sep. 2018. Edward Jones restricted my Mother’s account without probable cause--without providing evidence of their “actual knowledge” that my Mother lacked the capacity to sign the Power of Attorney due to her “alleged” dementia. We also believe that the advisor worked with our brother to freeze the account. When I told the advisor that my brother was no longer an Attorney-in-Fact for my Mother, she took the liberty of revealing that information immediately to him. Right after that, the account was frozen. Note: my sister and I are co-Attorneys-in-Fact for our Mother. My Mother needs the funds from her account to pay for the extra home care she needs NOW, dental work, to bill pay and more...

    66 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 24, 2019

    If you, or perhaps your parent, use Edward Jones to manage your investment and retirement accounts, BEWARE! Let me make this short. If you consider investing a lump sum of $20,000, for a period of 20 years (1999 to 2019) with a TOTAL Return of less than $10,000, then this company is for you. If, on the other hand, you realize that over the course of the last 20 years that the market has made record setting gains, then stay AWAY! The above example of a 20,000 dollar investment that was worth a total of just over 29,000 20 years later is real. It is just one of the investments my mother made through Edward Jones over the course of more than 26 years.

    This firm makes investments for you based upon the commission they will receive. While most people nearing retirement age understand the buy and hold theory of investing, Edward Jones chooses a churn, churn, churn process. They make money through front load fees and commissions they receive by pushing the funds that benefit the broker and firm, not the investor.

    As another example, my mother had a qualified account and a non-qualified account with this (in my opinion) ethically challenged firm. Once she reached the age where she had to take a RMD (required minimum distribution) annually, they convinced her to take the required distribution, transfer the funds to the non-qualified account, and in turn EJ invested those funds into the American Fund Mutual Fund product. They also convinced her to take the $10,000 principle returned after a 12 month CD matured and invested it totally in the American Fund.

    If you don't know, the American Fund is a front load investment, charging you an upfront rate of 5.75%. That means for every $1,000 you commit to invest, you hand Ed Jones $57.50, leaving only $942.50 to purchase shares. This front load fee is on top of the expense ratio of about .68%. It looks like my mother invested a total of more than $30,000 into this fund over a period of about 9 years, ending up with a grand total of less than $37,000 at the end, which was 18 years after her first investment in this fund. Oh, did I mention that she reinvested all dividends and capital gains from this fund?

    These abysmal gains, are just two examples of the types of investments that this firm advised my mother to invest in. I realize we all make our own decisions, but since 2015 my mother was not making changes to her investments, as she had Alzheimer’s, but someone was making changes. Changes that reduced the value of her investments tremendously. Thank God my mother was not dependent upon these funds for her monthly expenses, which averaged more than 8 grand a month over the last year or so of her life. We failed to keep an eye on her investments. We would check every couple of years, but we never dreamed that someone was able to make changes to her investments without her knowledge or approval.

    We have no idea how much Ed Jones gained in fees and front loads over the last 26 years. You see, they do not show these fees or front loads on any statement. We have looked over more than 20 years of statements and now realize that they have no disclosure requirements. I guess if you have signed a form, which has fine print stating the fee schedule, even if the broker did not cover the fees with you, they do not have to provide a detail on your statement of the fees collected by EJ, which resulted in the reduction of value of your investments. It leaves one to believe that the fact that your investments lost $1400 in value over the previous 3 months that the reduction was simply based on market fluctuation.

    I feel like I failed my mother in some way. She had a wonderful heart and trusted everyone. I had no idea that any company could operate in this manner, without being required to provide statements showing how much of the dip in value of your investments was due to market fluctuations and how much was paid to Edward Jones. Please beware. Your experience with Edward Jones may be totally different. I seriously doubt that every broker associated with this firm fails to provide full disclosure and transparency to their clients, but based upon the large volume of disparaging reviews against Edward Jones, I do not believe that our experience is an isolated incident.

    The purpose of my post it to remind everyone that you alone are responsible for fully understanding the terms and conditions associated with any transaction you make with another person. And, to remind those of us whose parents have reached the age where, they may not want help, but it's become evident to you that they need help, don't forget their investments. Keep an eye on their investment accounts, just like their bank statement.

    Read full review
    73 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: May 22, 2019

    We found Steve Mood's office due to an inheritance, it all was handled well and timely. So, we reinvested the inheritance, and moved some of our own funds to the account. There are several years worth of results to check back on, and all is the way it should be. So far returns are very nice and even better than expected, of COURSE we do not allow "churning", basic logic. The CD rates are good, set up the way we want them, the stock funds are handled well and when we tell them to move the funds to our account, they are there the same day. Way things should be, those with poor experiences need to do like we did. Research! We know who our agent is, where he lives, in fact, we know just about everything about him. To those who have a bad experience, do your research.

    47 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 19, 2019

    Awful, frustrating, theft, lies. I invested almost all of the money I have. Donn ** told me no fees. I invested in 2 IRA’s & a CD plus other investments. A week after my investment I received a statement indicating I had invested app. $500.00. less in each account. I visited with Donn and was told the lesser amount would be only if I drew it out early. The investment were for 1 year. 9 month later the account were rolled over without my permission plus they withheld over $ 250.00 in each acct & I was told it was because I withdrew early. The accounts were less when I opened "if I were to make an early withdrawal" then again when they chose to rollover my account because of the early withdrawal. Their monthly statement are just numbers, try to get what the statement indicates, good luck... They take your investment & give you back what they choose for you to have, they will steal you blind. Please stay away from Edj. I am just sick.

    62 people found this review helpful
    Customer increased Rating by 4 stars!
    profile pic of the author
    Verified Reviewer
    Original review: April 18, 2019

    A few weeks ago I received an email from our Edward Jones financial advisor asking for a "favor." In order to win a trip from the company, based on her sales record, she needed us to invest a substantial sum immediately -- by noon the next day. I didn't open the email until it was past her "deadline," which saved me from saying no. The following day she emailed me again to say the deadline was extended. I ignored her. We were shocked and embarrassed at her audacity, and are seriously considering quitting Edward Jones and finding someone we're more comfortable with. Am I overreacting?

    108 people found this review helpful
    Loading more reviews...

    Edward Jones Company Information

    Company Name:
    Edward Jones
    Year Founded:
    1922
    Address:
    12555 Manchester Road
    City:
    St. Louis
    State/Province:
    MO
    Postal Code:
    63131
    Phone:
    (800) 441-2357
    Website:
    www.edwardjones.com

    Make the best choice, every time

    Join our community to stay up-to-date with the latest reviews, recall notices, and brand recommendations.

    Our community members are happier with their purchases than consumers who didn’t research before buying. To see why, sign up below!

    Thank you

    Keep an eye on your inbox, the latest consumer news is on its way!