Edward Jones Financial Advisors

Complaint: [redacted] I am rejecting this response because: I was recited the details of how we were duped into thinking we were making 5% annual on our investment into what is called an annuityThis said annuity, come to find out actually steals your money and you never get it back again without extreme penalty, which we are in the process of doing We will lose over $11,of our very hard earned money because of MrH [redacted] and Edward Jone's misrepresenting the investments we signed up forThey are unwilling to even admit they did not tell us the truth on purpose for their financial gain and our financial loss, which they knew would be the case I will never trust another broker in my life, Scott H*** was very manipulative, knowing we would never sign something like that had we known the truth about annuities, he deceiving us and I hope he loses his license someday for these practices.Sincerely, [redacted]

Dear Mr [redacted] : Thank you for your correspondence to the Revdex.com dated April21, 2016, which wasrecently forwarded to the Complaint Investigations Department for review and response I have reviewed your account activity and relevant documentsI also contacted Financial Advisor, ScottH***, regarding your concerns Our understanding is you on December 24, you sent an email to MrH [redacted] requesting an immediateappointment due to concerns over the volatility in the stock marketMrH [redacted] scheduled a time afterregular business hours and you and your wife [redacted] both attendedMrH [redacted] explained using his whiteboard the market value side of your Lincoln National Choiceplus Fusion Share annuity should youdecide to surrender the contract, and the guaranteed income feature of the annuityThe LincolnLifetime Income Advantage {Managed Risk) guarantees that a fixed percentage, 5.0% {Single) or4.5% (Joint) of the amount initially invested in the annuity, can be withdrawn annually over a client'slifetime or for joint spousal livesThese payments continue even after the initial investment amount hasbeen paid out, regardless of the actual account valueTo clarify, the contract guarantees percentannual withdrawals available at age 65, not a percent rate of return At that time you had no plan to liquidate the contract, no pending real estate deals, and your primarygoal was to receive a guaranteed income stream for the rest of your livesMrH [redacted] explained that theguarantee is on the income; not on the market value of the contractThis idea appealed to you and youagreed that it was the only way you would remain invested You agreed to liquidate your Advisory Solutions® account and signed the appropriate paperworkMr.H [redacted] explained you would receive a contract packet in 7-days to include a delivery receiptHe alsoexplained, and you signed forms on January 14, acknowledging, a free look period that permittedyou to cancel the purchase within days after purchase MrH [redacted] spoke with you again in May Your annuity was up percent since the initial purchasedateHe advised you contribute the maximum amount to your Roth IRAs On Dec 15, MrH [redacted] received an email from you asking what penalties would apply if you decidedto withdraw funds from your annuityMrH [redacted] explained that although the principal value was currentlydown, it was important to consider your original goals for these funds: to provide a future guaranteedincome stream in retirement As of May 13, the current value of your Lincoln annuity is $117,The estimated surrendervalue is $114,and the estimated death benefit is $125,The income benefit base is$131,This is the amount you are guaranteed to be able to withdraw or annuitize under theguarantee You received monthly account statements providing detailed pricing and activity information regardingyour investmentsIn addition~ it is our understanding you are aware of the risks of investing andunderstand there is no guarantee on the performance of the securities within your account The goal of our firm is to consistently deliver professional service to our clientsWe apologize that wedid not meet your expectations in this instanceWe appreciate the opportunity to review and addressthis matterOn behalf of Financial Advisor Scott H [redacted] and our firm, thank you for allowing Edward Jonesto serve your investment needs Sincerley, John [redacted] M [redacted] Senior Complaint Invest

Complaint: [redacted]I am rejecting this response because:
  I was recited the details of how we were duped into thinking we were making 5% annual on our investment into what is called an annuity. This said annuity, come to find out actually steals your money and you never get it back again without extreme penalty, which we are in the process of doing.
  We will lose over $11,000 of our very hard earned money because of Mr. H[redacted] and Edward Jone's misrepresenting the investments we signed up for. They are unwilling to even admit they did not tell us the truth on purpose for their financial gain and our financial loss, which they knew would be the case.
  I will never trust another broker in my life, Scott H[redacted] was very manipulative, knowing we would never sign something like that had we known the truth about annuities, he deceiving us and I hope he loses his license someday for these practices.Sincerely,[redacted]

Dear Mr. [redacted]:
Thank you for your correspondence to the Revdex.com dated April21, 2016, which wasrecently forwarded to the Complaint Investigations Department for review and response.
I have reviewed your account activity and relevant documents. I also contacted Financial Advisor,...

ScottH[redacted], regarding your concerns.
Our understanding is you on December 24, 2014 you sent an email to Mr. H[redacted] requesting an immediateappointment due to concerns over the volatility in the stock market. Mr. H[redacted] scheduled a time afterregular business hours and you and your wife [redacted] both attended. Mr. H[redacted] explained using his whiteboard the market value side of your Lincoln National Choiceplus Fusion 0 Share annuity should youdecide to surrender the contract, and the guaranteed income feature of the annuity. The LincolnLifetime Income Advantage 2.0 {Managed Risk) guarantees that a fixed percentage, 5.0% {Single) or4.5% (Joint) of the amount initially invested in the annuity, can be withdrawn annually over a client'slifetime or for joint spousal lives. These payments continue even after the initial investment amount hasbeen paid out, regardless of the actual account value. To clarify, the contract guarantees 5 percentannual withdrawals available at age 65, not a 5 percent rate of return.
At that time you had no plan to liquidate the contract, no pending real estate deals, and your primarygoal was to receive a guaranteed income stream for the rest of your lives. Mr. H[redacted] explained that theguarantee is on the income; not on the market value of the contract. This idea appealed to you and youagreed that it was the only way you would remain invested.
You agreed to liquidate your Advisory Solutions® account and signed the appropriate paperwork. Mr.H[redacted] explained you would receive a contract packet in 7-14 days to include a delivery receipt. He alsoexplained, and you signed forms on January 14, 2015 acknowledging, a free look period that permittedyou to cancel the purchase within 10 days after purchase.
Mr. H[redacted] spoke with you again in May 2015. Your annuity was up 4 percent since the initial purchasedate. He advised you contribute the maximum amount to your Roth IRAs.
On Dec 15, 2015 Mr. H[redacted] received an email from you asking what penalties would apply if you decidedto withdraw funds from your annuity. Mr. H[redacted] explained that although the principal value was currentlydown, it was important to consider your original goals for these funds: to provide a future guaranteedincome stream in retirement.
As of May 13, 2016 the current value of your Lincoln annuity is $117,878.09. The estimated surrendervalue is $114,148.04 and the estimated death benefit is $125,000.00. The income benefit base is$131,250.00. This is the amount you are guaranteed to be able to withdraw or annuitize under theguarantee.
You received monthly account statements providing detailed pricing and activity information regardingyour investments. In addition~ it is our understanding you are aware of the risks of investing andunderstand there is no guarantee on the performance of the securities within your account.
The goal of our firm is to consistently deliver professional service to our clients. We apologize that wedid not meet your expectations in this instance. We appreciate the opportunity to review and addressthis matter. On behalf of Financial Advisor Scott H[redacted] and our firm, thank you for allowing Edward Jonesto serve your investment needs.
Sincerley,
John * M[redacted]
Senior Complaint Invest