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Edward Jones

United States,
Missouri

Consumer complaints and reviews about Edward Jones

Jack125 Send email
 
Feb 23, 2012

IRRESPONSIBILITY

I certainly hope anyone reading this takes to heart what is being said before you lose your life savings. This company is a fraud and a scam and you will lose everything. Please learn from our mistakes and do not invest your money, stocks, etc. in Edward Jones, you WILL regret it.
RUTH BJORK Send email
 
Feb 23, 2012

IRRESPONSIBILITY

IRRESPONSIBILITY OF THE INVESTMENT ADVISOR. WE LOST $93, 000.00 OF OUR RETIREMENT MONEY AND NO ONE ACCEPTS RESPONSIBILITY. WE ASKED AT EVERY STATEMENT TO MOVE THE MONEY INTO A SAFER ENVIRONMENT AND THE ADVISOR SAYS, NO WE'RE FINE. WE'RE NOT FINE. WE LOST $93, 000.00. MY HUSBAND'S RETIRED.
SpeculatingWisely Send email
 
Feb 23, 2012

IRRESPONSIBILITY

It's absolutely NOT the clients fault . Brokers(financial advisors) have a responsibility to act according to the risk their clients can afford . If most clients lose money in a contracting economy or a recession, that seems to be the norm for long term investors . However, financial advisors should know and explain how their clients can hedge their risk .

Next time you meet a financial advisor, don't let their charm and sales tactics persuade you . Ask them about their performance during a market correction, economic contraction and during recessions . Don't let them persuade you that they're good just because they lost only 10% when the markets dropped 15% .

Understand that a brokers job is to sell . But they can choose to sell you safety, wisdom and experience . Alot of brokers just push what the house(firm they represent) tells them to push onto their clients . That's a big NO NO ! If a broker/financial advisor is just starting out, then keep in touch with that advisor and test them through '' paper '' recommendations .Even test experienced one's for that matter . If those recommendations don't do well, then don't higher that advisor . Nobody's perfect . But still a certain performance average should be met . And it doesn't take years to see if the recommendation was a good one .

Makes me laugh when a so called broker uses '' Warren Buffet '' as an example into trying to convince clients to buy and hold for the long term . Just look at what happened to Eastman Kodak since the year 2000 . Today's date is September 30 2011 .
Anyways, all in my humble opinion .
Peter Brockman Send email
 
Feb 23, 2012

IRRESPONSIBILITY

On the one hand, you stress that the loss is NOT the client's fault. The "financial advisor" acts according to the client's stated "risk tolerance, " which can be miles from the client's actual "risk tolerance." Yet then you offer your wise, paternalistic council to not be taken in by a charming broker...to exercise due dligence.

In the end, the client is at fault. He or she must sign countless forms, etc., and if the client fails to exercise any stewardship over his or her resources in favor of blindly trusting stockbrokers (or "financial advisors" if you insist) then the client only has himself or herself to blame.

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