Six former Edward Jones financial advisers allege the firm knew its client transfer system disadvantaged Black advisers but didn’t fix it, despite tracking pay disparities, offering limited transfer incentives and settling similar claims in 2021. The class action claims Black advisers received fewer or lower-quality client accounts, resulting in lower pay, fewer advancement opportunities and a higher risk of termination.
Six former Edward Jones financial advisers allege the firm knew its client transfer system disadvantaged Black advisers but didn’t fix it, despite tracking pay disparities, offering limited transfer incentives and settling similar claims in 2021. The class action claims Black advisers received fewer or lower-quality client accounts, resulting in lower pay, fewer advancement opportunities and a higher risk of termination.
