• Report: #855808

Complaint Review: Edward Jones

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Sun, March 18, 2012
  • Updated: Sun, March 18, 2012

  • Reported By: SelfemployedVeteran — Bloomington Indiana United States of America
Edward Jones
204 Progress Parkway St. Louis, Missouri United States of America

Edward Jones Excessive Fees St. Louis, Missouri

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

In 2002 I invested 500 dollars in a SEP with Edward Jones.  Each year Edward Jones charges a minimum fee of $45.  Unfortunately my financial position has not been good and finally this year 2012 I decided to cash the proceeds in and pay the penalty to the IRS.   The value of the fund was $515.  Edward Jones sends me a check for $336.  They deducted the 10% penalty but added additional charges of roughly $135.  To put this in perspective Edward Jones made 45 times 10 in fees plus added and additional fee of another$90. 

They made $540 in fees from my investment and the IRS will most likely take even more than the their 10% penalty already taken and I am still apparently liable for even more taxes.  I lost roughly 40% of my investment while Edward Jones made more than a 100% of that small investment.  I've had several representatives over those years and my spouses 401K is still with Edward Jones but really why take advantage of someone already on the brink.

This report was posted on Ripoff Report on 03/18/2012 08:42 PM and is a permanent record located here: http://www.ripoffreport.com/r/Edward-Jones/St-Louis-Missouri-/Edward-Jones-Excessive-Fees-St-Louis-Missouri-855808. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Edward Jones

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory