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This review is from Mutual Funds from Edward Jones

chennington
Newcomer
8 months ago
1.0

Mr. Colin Postlewaite
Edward Jones Compliance
1245 JJ Kelley Memorial Drive
St. Louis, Mo 63131-3600

Dear Mr. Postlewaite:

I am in receipt of your letter dated November 3, 2008. In your letter you have come to the conclusion that Mr. Aaron Chase “acted with nothing but your best interest in mind.” I’m curious as to how you can make that decision when you have only heard his version of the story. Is that how Edward Jones treats all their clients?

The truth is Mr. Chase made an urgent call to me on Friday, October 10, 2008 saying that he must call in my loan by selling my stocks immediately. This is a loan that I had been making monthly payments on. I let him know, under no uncertain terms, that I was not in agreement with the selling of my stocks, but he sold them anyway.

On Tuesday, October 14, 2008, I received a letter from your Consumer Loan Department. In the letter it states that my “margin accounts requires additional equity of $1,532.00. This call amount is due by 12 p.m. CST, Wednesday, October 15, 2008.”

Mr. Postlewaite, Mr. Chase sold all my stocks. He gave me no options as your headquarters did. I would have paid the $1,532.00, or why didn’t he just sell enough to pay the additional equity instead of selling all my stocks to pay off my loan? I will never be able to recover my losses. He even left $99 in my loan balance so I still have to pay interest.

Mr. Chase sent me a letter on October 15, 2008 telling me that he will no longer service my account. He is aware that he was in the wrong, and that is why he immediately ran to you for support. I am contemplating legal action for his indiscretion.

Please let me know where I am to find service for my remaining annuities in my Edward Jones account. I look forward to your reply.

Sincerely,

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