Edward Jones Lawsuit & Broker Misconduct Update

The White Law Group reviews the customer complaints and regulatory history of Edward Jones. 

The White Law Group continues its investigation into potential securities claims involving FINRA-registered broker-dealer Edward Jones, also known as Edward D. Jones & Co., LP (CRD#: 250 / SEC#: 801-3297, 8-759). Headquartered in St. Louis, Missouri, Edward Jones is a dual-registered broker-dealer and investment adviser with a significant history of regulatory sanctions and investor complaints.

As of August 2025, Edward Jones reportedly has 288 disclosures on its FINRA CRD record, including 136 regulatory actions and 150 arbitrations, reflecting a pattern of supervisory failures, overcharging customers, and broker misconduct.

Recent Regulatory Sanctions & Settlements

• June 4, 2025 – Massachusetts Sanction: Censured and fined $15,000 for excessive commissions. Edward Jones agreed to pay restitution with interest and update its compliance procedures.
• January 22, 2025 – $17 Million Multi-State Settlement: Settled with 14 states for supervisory failures involving advisory fee structures and mutual fund transitions after the 2016 DOL fiduciary rule.
• December 20, 2024 – Mutual Fund Overcharges: FINRA sanctioned Edward Jones for failing to supervise mutual fund sales charge waivers, leading to $4.4 million in excess charges from 2015–2020.

Edward Jones Brokers Barred by FINRA

• Gwendolyn J. Hayes (CRD#: 5125590): Barred January 17, 2025, for allegedly altering client investment objectives and taking unauthorized instructions.
• Michael Ray Lancaster (CRD#: 6992330): Barred October 9, 2024, for failing to cooperate with a FINRA investigation post-termination.
• James A. Bowman (CRD#: 4469446): Barred March 6, 2025, for refusing to testify regarding client reimbursements that violated firm policy.
• Akinfolarin O. Sessi (CRD#: 6800169): Barred November 18, 2024, for failing to disclose outside business activities and providing incomplete compliance info.

Past Regulatory Issues Involving Edward Jones

• June 20, 2019: $40,000 fine for misreporting damages in 79 customer complaints.
• July 13, 2017: $725,000 fine for failing to supervise client consolidated report processes.
• August 13, 2015: Charged with $4.6 million in municipal bond overcharges. Settled for $20 million.
• October 30, 2015: FINRA ordered $18 million in reimbursements for mutual fund violations.
• February 27, 2014: Fined $750,000 by New Hampshire for Do Not Call violations and supervisory failures.

Edward Jones Broker Fraud Cases

• April 17, 2025 – John Winslow (CRD#: 3071933): Indicted for stealing $920,000 from a widowed client. Also barred by FINRA in 2022.
• December 13, 2023 – Alexandria Bovee (CRD#: 7090353): Barred for failing to cooperate in a Ponzi investigation involving Integrated National Resources (INR).
• November 24, 2021 – Ronald Molo (CRD#: 4371241): Charged with stealing $800,000 from clients under false pretenses. Faces SEC and criminal action.

How to Recover Investment Losses with Edward Jones

If you have suffered losses due to misconduct by an Edward Jones broker, you may be eligible to recover damages through FINRA arbitration. When firms fail to supervise their representatives, they can be held liable for resulting investor harm.

Class Action vs. FINRA Arbitration – What’s Better?

For most investors with losses exceeding $100,000, individual FINRA arbitration tends to be more effective than joining a class action, which may result in significantly smaller recoveries per claimant.

Securities Fraud Attorneys – The White Law Group

The White Law Group is a national securities fraud and investment loss recovery law firm with offices in Chicago and Seattle. Since 2010, our firm has handled over 800 FINRA arbitration cases involving investment fraud, negligence, and unsuitable recommendations.

If you have concerns about your investments with Edward Jones, please call 888-637-5510 for a free consultation or visit whitesecuritieslaw.com.

Frequently Asked Questions (FAQs)

1. Is Edward Jones a reputable firm? Edward Jones is a large and well-known broker-dealer, but its regulatory record includes numerous actions and misconduct cases. Investors should carefully review disciplinary histories before working with any firm.

2. Can I sue Edward Jones for investment losses? If you’ve experienced financial losses due to Edward Jones broker misconduct or unsuitable advice, you may be eligible to file a FINRA arbitration claim to recover damages.

3. How do I check if an Edward Jones advisor has complaints? Use FINRA’s BrokerCheck (brokercheck.finra.org) to search for a broker by name or CRD number. It will show disclosures, complaints, and employment history.