Edward Jones allegedly has orchestrated a reverse churning scheme to take advantage of its trusting, long standing clients by shifting their commission based accounts to a fee based program – Edward Jones Advisory Solutions or Edward Jones Guided Solutions. The essential purpose of the alleged scheme was to churn revenue from dead assets. Jones allegedly made misleading statements and material omissions to their clients regarding the amount of fees they would pay after their assets were moved into either of the Advisory Programs.
If you or anyone you know had a commission account which was switched into an asset based account with Edward Jones, please contact Finkelstein Thompson LLP. You can reach us at firstname.lastname@example.org or call us toll-free at 1-844-280-5009.