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Edward Jones (“Edward Jones”) (CRD# 250) has many different complaints filed by FINRA (Financial Industry Regulatory Authority), state regulatory organizations, and investors such as yourself. At the Law Offices of Robert Wayne Pearce, we have investigated Edward Jones, its regulatory and customer complaints, and have also represented investors with claims of fraud, negligence, and breach of fiduciary duty against this organization and its financial advisors.

If you believe you have a claim against Edward Jones, you should strongly consider hiring an investment fraud lawyer. You should not wait until it’s too late to file a claim. The Law Offices of Robert Wayne Pearce, P.A., offers free consultations. Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve.

Can I Sue Edward Jones?

If you’ve lost money caused by Edward Jones and/or its employees’ misconduct then the answer is, YES, you can sue Edward Jones, but the odds are you signed away your right to sue in court and agreed to resolve your dispute in a FINRA arbitration proceeding. Attorney Robert Wayne Pearce has over 40 years of personal experience in FINRA arbitration proceedings and knows very well how you can not only sue Edward Jones in FINRA arbitration proceedings but WIN that arbitration. The easiest way to know if you have a viable case against Edward Jones is to call Attorney Pearce at our office at 800-732-2889.

Investment Losses? We Can Help

Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

What is Edward Jones?

Edward Jones (CRD#250) is a registered broker-dealer. It operates as a full-service broker-dealer, providing a range of financial products and services to individual investors and financial advisors.

As a registered broker-dealer, Edward Jones is subject to regulations and oversight by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is required to comply with industry standards and regulations to ensure the protection of its clients’ interests.

A failure to comply with industry standards by either its brokers or the firm itself can result in disciplinary actions, fines, or other penalties imposed by regulatory authorities.

Edward Jones Has Many Different Regulatory Problems 

Edward Jones’ rapid growth has not been without consequences. There have been approximately 76 state and self-regulatory body disclosure events; that is, final and formal proceedings initiated by a regulatory authority (e.g., a state or federal securities agency like the U.S. Securities and Exchange Commission (SEC) or self-regulatory body like the Financial Industry Regulatory Authority (FINRA) and the North American Securities Administrators Association (NASAA) for a violation(s) of investment-related rules or regulations. In addition, there have been hundreds of customer complaints filed against Edward Jonesfor misconduct by its securities sales and investment advisory representatives that are not reported by the firm on its Central Depository Record. 

We have reported and written about these regulatory problems and customer complaints over many years. Edward Jones is a repeat offender: there are over 76 FINRA-reported proceedings citing the firm with one form of supervisory lapses or another.

A Brief Overview of Some of the Regulatory Problems Edward Jones Has Faced Over the Years*

Edward Jones has been repeatedly censured, warned, and fined multi-millions of dollars for its own misconduct and failure to supervise its army of financial advisors.* A few of the notable FINRA Sanctions for its Supervisory Failures are below:

Washington State Securities Division Fines Edward Jones for Failure to Supervise Financial Advisor Who Received $550,000.00 from an Elderly Client

Brief Overview: The Washington State Department of Financial Institutions Securities Division alleged that between 2017 and 2021, Edward Jones failed to supervise a former financial advisor, who the division alleged received payments of gifts and loans totaling approximately $550,000.00 from an elderly client without disclosing the payments to Edward jones. The division further alleged that Edward Jones failed to detect the financial advisor’s undisclosed outside business. As a result, the firm was fined $150,000.00.

Edward Jones Censured and Fined for Failing to Produce Call Records in Response to FINRA Document Requests

Brief Overview: Without admitting or denying the findings, Edward Jones consented to the sanctions and to the entry of FINRA findings that it failed to timely, completely, and accurately produce certain phone records in response to FINRA’s requests for documents in connection with its investigations into allegations of potential misconduct, including unauthorized trading, discretionary trading, and excessive trading. FINRA stated that in responding to these requests, the firm failed to search a storage location it used with an analytics tool for business planning, not retention or production, purposes that contained call detail records older than 18 months and thus housed responsive documents. In addition, in most of the investigations, the firm inaccurately represented in the text of its responses or in a legend attached to its productions, that records older than 18 months were not available. As a result, Edward Jones was fined $1.1 million. 

Nevada Securities Division Fines and Orders Edward Jones to Cease-and Desist for Failure to Supervise Financial Advisor

Brief Overview: The Nevada Securities Division alleged that Edward Jones failed to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the Nevada Securities Act. Specifically, that the firm failed to supervise a former financial advisor who had offered and sold personal seat licenses (personal seat licenses for professional football team) to an Edward Jones client. The division also alleged that the former financial advisor never delivered the personal seat licenses to the client. As a result, Edward Jones agreed to pay $50,000.00 and $2,762.57 as a civil penalty and investigatory costs.

Edward Jones Consents to South Dakota Division of Regulation Findings that the Firm Failed to Supervise Financial Advisor’s Mutual Fund Sales

Brief Overview: Without admitting or denying the allegations, Edward Jones agreed to a consent order with the South Dakota Division of Regulation to resolve a matter involving the firms’ alleged failure to supervise a single financial advisor in connection with that financial advisor’s recommendation of certain mutual funds to the customer in violation of the South Dakota Securities Act and FINRA Rules 2010 and 3110. Edward Jones agreed to pay the division $10,000 for the costs of their investigation and to make an offer of settlement to the customer in the amount of $2,406.47.

FINRA Censures and Fines Edward Jones for Filing Misleading U4s

Brief Overview: Without admitting or denying the findings, the Edward Jones consented to FINRA sanctions and to the entry of findings that it filed forms U4 containing misleading information about the amount of alleged damages in customers’ complaints. FINRA stated that the firm’s disclosures of customer complaints understated the customers’ alleged damages. The inaccuracies in the firm’s form U4 filings resulted from a misunderstanding by certain of its associates about the applicable requirements for disclosing customers’ complaints. FINRA identified the inaccuracies, and the firm was censured, fined $40,000, and ordered to certify in writing that the firm has reviewed its systems, policies, and procedures governing the firm’s review, analysis, and disclosure of alleged damages in customer complaints and that the firm has established and implemented systems, policies, and procedures governing the review.

*Above are only some of the regulatory disciplinary actions filed against Edward Jones by FINRA. NASSA and other state securities regulator investigations and enforcement actions account for another 71 BrokerCheck disclosures.

Edward Jones Customer Complaints

There have been scores of customer complaints filed against Edward Jones stockbrokers and investment advisors over the years. We have launched many investigations of current and former Edward Jones advisors:

  1. Anthony Hall of Edward Jones
  2. Edward Delaney of Edward Jones
  3. Jeremy Mckitrick of Edward Jones
  4. Howard Ginkel of Edward Jones
  5. Al Quintana Of Edward Jones
  6. Alan Stroshine of Edward Jones
  7. Aly Mady formerly with Edward Jones
  8. Antony Marshall formerly with Edward Jones
  9. Billy Estes of Edward Jones
  10. Brian Cobb of Edward Jones
  11. Brian Engleman of Edward Jones
  12. Brian Baughman of Edward Jones
  13. Tara Rotfeld of Edward Jones
  14. Adam Saporsky of Edward Jones
  15. Nicholas Schnarr of Edward Jones
  16. Mason Schultz Formerly With Edward Jones
  17. Byron Schuster of Edward Jones
  18. David Scott of Edward Jones
  19. Jenna Short of Edward Jones
  20. Gary Stuart of Edward Jones
  21. Craig Tomasek of Edward Jones
  22. Randall Wachman of Edward Jones
  23. Michael Willard Formerly With Edward Jones
  24. Michael Williams of Edward Jones
  25. Shirley Willis of Edward Jones
  26. Kyle Woods of Edward Jones
  27. Timothy Dolan of Edward Jones
  28. Hayley Beard of Edward Jones
  29. Tamra Ellis of Edward Jones
  30. Norbert Endl of Edward Jones
  31. Steven Follett Formerly With Edward Jones
  32. Dustin Insley of Edward Jones
  33. Barry Jackson of Edward Jones
  34. Tyler Gilberg of Edward Jones
  35. John Gogolin of Edward Jones
  36. Andrew Hall of Edward Jones
  37. Dylan Hales of Edward Jones
  38. James Hauser of Edward Jones
  39. Colton Hill of Edward Jones
  40. Cooper Helm of Edward Jones
  41. David Howison of Edward Jones
  42. Zhiwei Jiang of Edward Jones
  43. Asa Jewett of Edward Jones
  44. Dianna Knudsen of Edward Jones
  45. Jared Kohn of Edward Jones
  46. Ryan Krause of Edward Jones
  47. Joshua Langdon of Edward Jones
  48. Jeffrey Lattimer of Edward Jones
  49. Abelardo Leal of Edward Jones
  50. Jeffrey Lee of Edward Jones
  51. Stuart Lesser of Edward Jones
  52. Natalie Lim-Taylor of Edward Jones
  53. Maria Litzinger of Edward Jones
  54. John Loehr of Edward Jones
  55. Jayne Wakeman of Edward Jones
  56. Teresa Mathies of Edward Jones
  57. Michael Millage of Edward Jones
  58. Harutuyn Mkhitarian of Edward Jones
  59. Kaley Mora of Edward Jones
  60. LeAnne Morris of Edward Jones
  61. Jonathan Nance of Edward Jones
  62. Jared Nuxoll of Edward Jones
  63. Robert Pascale of Edward Jones
  64. Jacee Pilkington of Edward Jones
  65. Sheryl Rains of Edward Jones
  66. Ronald Beckner Formerly With Edward Jones
  67. Scott Jamison formerly with Edward Jones
  68. Robert Burck of Edward Jones
  69. Daniel Burns of Edward Jones
  70. Donald Charlson of Edward Jones
  71. Jeffrey Cleckner of Edward Jones
  72. Ronald Endicott of Edward Jones
  73. Paul Curran of Edward Jones
  74. Donald Gage of Edward Jones
  75. Jeramie Grosenbacher of Edward Jones
  76. Joseph Delsignore of Edward Jones
  77. Timothy Dolan of Edward Jones
  78. James Haselton of Edward Jones
  79. Meredith Hoffman of Edward Jones
  80. Joseph Leighton of Edward Jones
  81. Lonnie Olson of Edward Jones
  82. Steven Miller of Edward Jones
  83. Stanley Schmidt of Edward Jones
  84. Steve Soma of Edward Jones
  85. Mary Rapert of Edward Jones
  86. David Strnad of Edward Jones
  87. Russel Surber of Edward Jones
  88. Peter Walters Formerly With Edward Jones?
  89. Charles Weathers of Edward Jones
  90. Vivian Wilcox of Edward Jones Reviews
  91. Douglas Williams Formerly With Edward Jones
  92. Joshua Albert of Edward Jones
  93. Brent Albrechtsen of Edward Jones
  94. Connor Aronis of Edward Jones
  95. Mario Ayala of Edward Jones
  96. Anand Bokde of Edward Jones
  97. Scott Blando of Edward Jones
  98. Benjamin Blake of Edward Jones
  99. Tawn Bullock of Edward Jones
  100. Christopher Bracken of Edward Jones
  101. Douglas Carson Formerly With Edward Jones
  102. Sarah Cecil of Edward Jones
  103. William Collin of Edward Jones
  104. Jed Conradi of Edward Jones
  105. Martin Coward of Edward Jones
  106. Roderick Trahan of Edward Jones
  107. Afifa Yusof formerly with Edward Jones
  108. Brian Homra of Edward Jones
  109. Christopher Landon of Edward Jones
  110. Charles Harris formerly with Edward Jones
  111. Brandon DuBose of Edward Jones
  112. Craig Foreman of Edward Jones
  113. Betti Gardner of Edward Jones
  114. Bradley Hayes formerly with Edward Jones
  115. Christopher Jones of Edward Jones
  116. Christopher Castoro of Edward Jones
  117. Courtney Kucish of Edward Jones
  118. Daniel Pellerin of Edward Jones
  119. Darrin Guay of Edward Jones
  120. David Meminger formerly with Edward Jones
  121. David Nadeau of Edward Jones
  122. David Peterson of Edward Jones
  123. Edward Lex of Edward Jones
  124. Elwis Johnson of Edward Jones
  125. Erick Bates of Edward Jones
  126. Hoyte Cole of Edward Jones
  127. James Merrill of Edward Jones
  128. James Bowdish of Edward Jones
  129. Jami McFeeters of Edward Jones
  130. Javelin San Nicolas formerly with Edward Jones
  131. Jerry Lawhead of Edward Jones
  132. John Davis of Edward Jones
  133. Jon Scheier formerly with Edward Jones
  134. Jonathan Strandlie of Edward Jones
  135. Jonathan Hermelbracht of Edward Jones
  136. Joshua Nix of Edward Jones
  137. Joshua Ureke of Edward Jones
  138. Kathryn Prescott of Edward Jones
  139. Kerri Spielman of Edward Jones
  140. Kimberly Lowry of Edward Jones
  141. Leigh Anne Parker of Edward Jones
  142. Linda Olson of Edward Jones
  143. Marcus Johnson of Edward Jones
  144. Who is Mark Starr formerly with Edward Jones
  145. Matthew Denman formerly with Edward Jones
  146. Matthew Rollins Edward Jones
  147. Michael Minotti of Edward Jones
  148. Michelle Willingham of Edward Jones
  149. Nathan Spudich of Edward Jones
  150. Nathaniel Miller of Edward Jones
  151. Patrick Gilbride of Edward Jones
  152. Patrick Dyer of Edward Jones
  153. Richard Excell of Edward Jones
  154. Robert Prins of Edward Jones
  155. Robert Darnall formerly with Edward Jones
  156. Ryan Catlin of Edward Jones
  157. Samuel Vriezema formerly with Edward Jones
  158. Scott Kitterman of Edward Jones
  159. Shaun Weber of Edward Jones
  160. Terry Cutrer of Edward Jones
  161. Thomas Borich of Edward Jones
  162. Thomas Rose of Edward Jones
  163. Thomas Tavolacci of Edward Jones
  164. Tracy Gundert of Edward Jones
  165. Trenton Murfin of Edward Jones
  166. Adam Lory of Edward Jones
  167. James Green formerly with Edward Jones
  168. Kaye Anderson of Edward Jones
  169. Kraig Osborne of Edward Jones
  170. Richard Goldston formerly with Edward Jones
  171. Roman Anaya of Edward Jones
  172. Casey Styer of Edward Jones
  173. Amy Tucker of Edward Jones
  174. Jerome Wenner of Edward Jones
  175. Winston Felix of Edward Jones
  176. Margaret Connors of Edward Jones
  177. Paul Magnani of Edward Jones
  178. Jeffrey Meyer of Edward Jones
  179. Raymond Thompson, Jr of Edward Jones
  180. Troy Aucoin of Commonwealth Financial Network
  181. Thomas Bryant, Jr of Edward Jones
  182. Richard Goldston formerly with Edward Jones
  183. Christopher Hall of Edward Jones
  184. Maureen Kane of Edward Jones
  185. Alexa Lawson of Edward Jones
  186. Margaret Pagano of Edward Jones
  187. Jeremy Angevine of Edward Jones
  188. Edgar Arango of J.P. Morgan Securities LLC
  189. William Benson of Edward Jones
  190. John Bourne of Edward Jones
  191. Joseph Cerullo, Jr. of Edward Jones
  192. Albert Collingbourne, IV of Edward Jones
  193. John Pock of Edward Jones
  194. Renee Harris-Christian of Edward Jones
  195. Todd Bruns of Edward Jones
  196. Lonnie Bull of Edward Jones
  197. Aaron Davis of Edward Jones
  198. George Lucke of Edward Jones
  199. Steven Dull of Edward Jones
  200. Robert Gevjan, Jr. of Edward Jones
  201. Joshua Hardt of Edward Jones
  202. Charles Beyer of Edward Jones
  203.  Sarah Reznick of Edward Jones
  204. Matthew Rhode of Edward Jones
  205.  Alessandra Graber of Edward Jones
  206. Jeffrey Stotler of Edward Jones
  207. Shaun Verner of Edward Jones

If you have lost money investing with any of these Edward Jones advisors or others within this brokerage firm, it’s important that you reach out to an investment loss attorney quickly because the statutes of limitations can bar your claims. Call us at 800-732-2889.

Why Does Edward Jones Have So Many Regulatory Problems And Customer Complaints?

Independent broker-dealers are notorious for their lax supervisory practices and procedures. The business model of these franchise type operations is to open many offices nationwide for steady growth of fixed monthly revenues without the costs attendant to a full-service branch office with on-site manager, compliance officer and operation personnel. The registered representatives of these independent broker-dealers generally operate as separately incorporated businesses. They are not employees of the broker-dealer and therefore not controlled in the same manner as full-service brokerage firm representatives. The registered representatives control their structure and costs to maximize profits and often leave the protection of investors’ rights and interests as their lowest priority.

The typical supervisory organization of independent broker-dealer operations is to have other independent contractors operate Offices of Supervisory Jurisdiction (OSJs) to monitor the registered representatives from geographically remote offices and then report to the main franchisor’s compliance office at national headquarters. The supervisors at the OSJs are not employees of the franchisor and often run their own brokerage, insurance and other businesses. They are not devoted full-time supervisors of the smaller branch offices. Consequently, OSJ managers cannot and do not supervise the day-to-day operations of the registered representatives of these Independent broker-dealers. 

Generally, there is no immediate review of new accounts opened, securities transactions, business records, cash or securities receipts and deliveries, correspondence and business activities unrelated to the securities brokerage operation at these independent brokerage firms. The lax supervision leaves investors who have transferred their accounts to the smaller independent broker-dealer vulnerable to sales of securities that have not been reviewed or authorized by anyone other than the sales representative earning a commission. There may be no one onsite to detect forgeries of clients’ signatures on documents, the placement of inaccurate information about a client’s investment objectives and financial condition to document the suitability of a particular investment recommendation. Oftentimes there is no daily review of sales literature and client correspondence to protect against misrepresentations and misleading statements being made to investors. In fact, it is not unusual for there to be only one compliance audit visit per year at many of these offices.

These Independent brokerage business operations are worrisome to the North American Securities Administrators Association (NASAA), which has documented more instances of sales abuse and consequently investor losses at these firms than the traditional brokerage firms with branch offices with on-site managers and compliance personnel.

Did Edward Jones Advisor Misconduct Cause You Investment Losses?

When financial advisor misconduct has caused you to lose substantial value to your investment accounts, you have the right to seek reimbursement from the responsible parties. Edward Jones is responsible like any employer for its financial advisors’ acts and omissions. In addition, it has an independent duty to supervise its stockbrokers and investment advisors. These cases can be extremely complex, and so having the support of a reputable attorney who is experienced in recovering investment losses for investors is key to your success. Many customers make the mistake of contacting Edward Jones without representation with an attorney about their complaints and have their complaints denied.

Related Read: Can You Sue Your Brokerage Firm?

Investment Losses? We Can Help

Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

Consult With An Attorney Who Recovers Investment Losses Caused By Edward Jones Today!

The investment loss attorneys at The Law Offices of Robert Wayne Pearce, P.A., have helped countless investors over the last 40 years recover the losses from their investment accounts that were caused by broker negligence or misconduct. The firm has extensive experience with Edward Jones cases, and Attorney Pearce is committed to seeing that those responsible for the losses you have suffered are held fully accountable.

Give us a call at 800-732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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