FYI: Edward Jones has been sued for excessive fees and self-dealing in its 401(k) plan, representing the second such legal ordeal to befall the company this year and coming amid a barrage of litigation targeting financial services companies for their own retirement plans.
The lawsuit, Schultz et al v. Edward D. Jones & Co., L.P. et al, alleges the broker-dealer and several employees overseeing the retirement plan breached their fiduciary duties by selecting high-cost mutual funds when identical, lower-cost ones were available, choosing “an unreasonable number” of high-risk investment options, and including a “poorly performing” money market fund in place of a stable value fund.
Regards,
Ted
http://www.investmentnews.com/article/20161115/FREE/161119962?template=printart
