In March 2018, a class-action lawsuit
was filed against Edward Jones & Co. for allegedly recruiting new financial advisor trainees by promising extensive training and high pay when, according to the plaintiffs, the firm provides no real training and does not pay the wages required by federal and state law. In addition, plaintiffs claim that the firm fails to disclose that most trainees leave within three years and, as a result, are required to pay up to $75,000 in “training costs.” (Bland et al v. Edward D. Jones & Co., L.P. and The Jones Financial Companies, L.L.L.P.
, Case No. 18-cv-1832, N. D. IL.)