Edward Jones Financial Advisers Allege Class Sex, Race Bias (1)

Edward D. Jones & Co.'s practice of allowing its primarily White male senior financial advisers to decide which less-tenured FAs they assign accounts to results in systemic pay and advancement inequities for female, Black, and other diverse advisers, a class lawsuit filed in St. Louis charges.

The bias occurs and is ongoing despite the firm’s having previously settled a race discrimination suit by Black FAs, the U.S. District Court for the Eastern District of Missouri suit filed Wednesday says.

Edward Jones “resorted to cosmetic measures and public-facing initiatives designed to improve optics” in the wake of the public unveiling of ...