Did You Lose Money at Edward Jones?
Edward Jones (CRD #: 250) is a registered investment advisory firm and a broker-dealer. It was founded in 1922 by Edward Jones, Sr. This privately held firm has locations across the U.S. and Canada. It serves approximately 17 million customers, according to its website. The headquarters are in St. Louis, Missouri. This firm also operates under the name Edward D. Jones & Co.
Can I Sue Edward Jones?
Yes, but probably not in a civil court. Investors typically sign pre-dispute arbitration agreements as part of their investment contracts. Arbitration agreements require investors to recover their losses through a process called FINRA arbitration instead of a civil court. Consulting with a securities attorney can help you determine if you have a case. Call (877) 600-0098 or email email@example.com to speak with a stock loss lawyer for free.
Is Edward Jones a Bank?
Edward Jones is best known as a broker-dealer and investment advisory firm, but it does also offer customers an interest-bearing savings account with FDIC protection. According to their Insured Bank Deposit Program Disclosure, There is a fee associated with these accounts, equal to a percentage of the average daily deposit balance. This fee can be as much as 3.75%. According to its Program Description, Edward Jones’ fees “may exceed the amounts paid to clients in the form of interest.”
Edward Jones Services
The firm offers the following financial products:
- Mutual funds
- Corporate equity securities
- Limited partnerships in a secondary market
- Over-the-counter securities
These investments may be high risk, meaning they are only suitable for investors who have a high net worth and possibly only for investors who plan to hold their investments for a number of years.