Complaint / review / scam report
Edward Jones
Edward Jones is a terrible company. They consistently l...

Complaint / review text:
Edward Jones is a terrible company. They consistently loose money on the accounts they manage, and worst of all - they are very unreliable and are making mistakes that could cost you a lot of money.

After changing jobs I was stupid enough to transfer 401k to Edward Jones, and I also opened Roth IRA account with them to add more money to the retirement fund. Edward Jones managed to loose a lot of money on both, and after few years I rolled over 401k from Edward Jones to the 401k in the new company I joined.

After few years to my great surprise I received a letter from IRS saying that their records show that I withdraw cash from that Edward Jones account and they want me to pay tax and penalty on it.

Apparently Edward Jones incorrectly reported 401k rollover and marked it as "withdrawal" rather than rollover, despite of having all information and receiving company letter etc.

I don't know whether Edward Jones people did it by mistake or on purpose (which would be even worse), but this is very irresponsible and unprofessional behavior for the financial company.

Contact information:
Author: Contact with Author

Offender: Edward Jones

Country: USA
Phone: 3145152000

Category: Miscellaneous


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