Edward Jones fined for overcharing customers for municiple bonds

[ncornilsen]

http://www.usatoday.com/story/money/2015/08/13/edward-jones-pay-20m-municipal-bond-overharges/31618309/

Sounds about right.

Dirtbags.  I attend a gym right next to an EJ location, and the owner often ends up working out at the same time I do. She's been pretty inconsiderate on workout ettiqute, and rarly cleans the equipment when she's done. One day she asked me if I'm investing for my future. (after pitching this to another lady in the room.) I told her I was, and she offered a 'free' consultation to see if I was doing enough. I explained that I find her company to be despicable in their fee structures and expense ratios, and would never trust the advice of someone who received commissions to peddle high-front load, high ER funds that trail a good low-cost index fund.   Can't wait to ask her about this!

[forummm]

One bond issuer was required to pay the IRS after losing a federal tax subsidy as a result of the improper actions, the SEC said.

That's why EJ got caught and their hand slapped. They screwed someone with power.