Our firm is investigating Edward Jones Investor Services and Edward Jones Asset Management for potentially underpaying clients on uninvested cash balances between 2022 and 2024 — while the Federal Reserve raised rates to a 20-year high. If you have concerns about your Edward Jones brokerage or advisory account, a free, confidential review is available.
No fee for evaluating your potential claims
Your information is protected
Submitting this form does not create an attorney-client relationship
Takes less than 2 minutes | No commitment required
When you hold cash in an Edward Jones brokerage, retirement or advisory account — money waiting to be invested, proceeds from a sale, or a dividend payment — Edward Jones may automatically transfer that cash into what it calls the Insured Bank Deposit (IBD) Program or other accounts it controls. Your money is deposited into one or more banks, and you earn interest on those deposits.
The problem is what happened to the interest rate between 2022 and 2025. When the Federal Reserve raised its benchmark interest rate from near zero to over 5% — the fastest rate-hiking cycle in four decades — the rate Edward Jones paid its clients on cash sweep deposits barely moved. Meanwhile, Edward Jones may have collected significantly higher payments from the banks holding your cash, keeping the difference as profit.
WHY THIS MAY BE UNLAWFUL
Our firm is investigating whether Edward Jones may have financially harmed its clients by retaining excessive spread revenue on cash deposits and holdings.
Similar class action lawsuits have been filed against other major brokerages and banks challenging similar types of cash sweep practices.
ABOUT THE FIRM
Manfred, APC is a boutique plaintiff-side complex litigation firm representing individuals, investors, and policyholders in complex financial disputes. With over 20 years’ experience, Manfred, APC is a trusted and reliable firm dedicated to combatting unlawful financial and investment practices.
Manfred P. Muecke is licensed to practice law in California and Oregon. Submitting a claim form does not create an attorney-client relationship.
FREQUENTLY ASKED QUESTIONS
Edward Jones may automatically transfer uninvested cash in your brokerage, retirement or advisory account into the Insured Bank Deposit (IBD) Program, where it earns interest at a bank. Edward Jones acts as a middleman between you and the bank — and receives a payment from the bank that is higher than the interest rate it passes along to you. The difference is profit for Edward Jones.
No. Former clients who held accounts during the relevant period (generally 2022–2025) may also be eligible to participate in this investigation.
There is no cost to submit a claim form or for an initial consultation. Our firm works on a contingency fee basis. We will explain our fee arrangement fully before any attorney-client relationship is established.
A member of our team will review your information and contact you — typically within 1–2 business days — to discuss whether your situation may qualify. There is no obligation to proceed, and your information will be kept strictly confidential.
Yes. Legal claims can have time limits called statutes of limitations. For potential contract claims related to the 2022 period, time may be limited. We encourage you to submit your information as soon as possible so we can evaluate whether your claim is timely.
This investigation is ongoing and no lawsuit has been filed. We are gathering information from current and former clients to evaluate whether Edward Jones’s cash sweep practices violated its legal obligations. Submitting a form does not mean a lawsuit will be filed or that Edward Jones has been found liable.
Fill out our free, confidential case review form. Our team will contact you within 1–2 business days to discuss your situation — with no obligation and no cost to you.
These investigations are ongoing; no lawsuit has been filed by this firm and no court has found that any financial institution named on this page, or any affiliated entity, has engaged in any wrongdoing.
Manfred, APC | Manfred P. Muecke | CA State Bar No. 222893 | OR State Bar No. 257566
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