Early February there were two class-action suits filed - EJ allegedly embedded code from Google, Meta, LinkedIn and other sites and sold them the transactions, account values, investment purchases, dividends, and four digits of client customer account numbers when signing into password protected client portals.
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@z8 , corporations are sued every day. We will see what happens down the road from this post.
There's no way EJ did this. From where I sit at EJ I know there is no way that we did this. This is simply a lawsuit opportunist trying to take advantage of EJ. There's honestly nothing to see here.
@eg I find it a self-fulfilling prophecy that our managing partner, who is betting everything on AI, has always had disdain for FA referrals to the FA role (the lifeblood of her egregious income) because she applied to a job board in 1999. Don’t blame AI for the client, FA, CST, & home office predicament, blame CareerBuilder.
I guess, as PP posted recently, her mother and father worked long hours. Such long hours that they didn’t have the time to teach her right vs. wrong. How is the SEC or FINRA not investigating the grift and lack of fiduciary standards?
Lmao, get rekt EJ and ELT. Fu-k em.
Maybe this will be PP's moment that pushes her to step down, same as the American Funds revenue sharing debacle pushed DH out. Scary thing is that it would probably be Chewbakka that takes over, at which point we're all sc--wed.
@bm nah, they will get promoted and home office will take the hit in the next bonus/raise cycle and also be resposible for changing processes on the fly. We will still double down on contractors over in india though, because we are a human centered company. /s
@ab yup. Make $10 million, pay a $4 million fine. Thats good business.
This is embarrassing. Just another L. FAs get hammered hard for their electronic communication violations everyday. Will a ELT member take accountability here? Maybe, but it will just be useless words just like what was said at the beginning of Enterprise Reimagine.
Lol, info was probably stolen from our overseas contractors
On one hand, I’m not surprised in the least. PP and her ELT lackeys will do anything to increase their GP returns. F**k everyone else that’s actually DOING the work.
On the other hand, you’d be foolish to think that in this highly regulated space that a broker/dealer like this wouldn’t disclose SOMEWHERE that client information would be used to target online advertisements.
If it’s found to be illegal, I hope every ELT member bears some personal liability. Then again, they’ll just lay off more people and outsource to India to recover what they lose.
https://www.fa-mag.com/news/lawsuit-claims-edward-jones-secretly-shared-customers--private-information-85836.html
I'd bet ELT signed off on it so the company could get paid for the info...