Edward Jones Accused of Systemic Racial Discrimination Against Black Financial Advisors in New Federal Lawsuit

A new federal lawsuit filed in St. Louis accuses Edward Jones of systemic racial discrimination against Black financial advisers, alleging the firm’s compensation and client-transfer policies favored white employees while limiting opportunities, pay and advancement for Black advisers.

The proposed class-action complaint, filed May 19 in the U.S. District Court for the Eastern District of Missouri, was brought by six former Black financial advisers who worked for the company in California, Washington, New York, Minnesota, Georgia and Illinois.

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