Edward Jones Discharges Financial Advisor For Violating Covid Protocol

Posted on June 15th, 2021 at 10:30 AM
Edward Jones Discharges Financial Advisor For Violating Covid Protocol

From the Desk of Jim Eccleston at Eccleston Law LLC:

Edward Jones fired Chad Klassen in April for “failure to follow firm Covid policy”, according to a U-5 termination filing. According to BrokerCheck, Klassen claimed that he accidentally had infected one of his assistants in his Edward Jones office after returning from a vacation. “I didn’t recognize my symptoms right away”, Klassen said in an interview; however, Klassen’s decision to follow a 14-day quarantine came too late. According to Edward Jones, Klassen violated firm policy by not wearing a mask in the office while neglecting to seek Covid testing when symptoms first appeared. 

According to BrokerCheck, Klassen managed $105 million in funds for 1,300 clients while generating nearly $715,000 in annual revenue. While most firms mandated advisors to work remotely, Edward Jones closed its branch offices only to customers because each branch typically employs a single advisor and assistant. Klassen recently began working at Cornerstone Wealth Management, an LPL Financial-affiliated firm based in Mountain Lake, Minnesota. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, covid, discharged advisor

Return to Archive

TESTIMONIALS

Previous
Next

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

April 19, 2024
WealthFeed Raises Funds for AI-Driven Lead Generation Tool

WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and job changes.

April 18, 2024
SEC Fines Target Off-Channel Communications

The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among investment advisory firms.

April 17, 2024
B. Riley Financial Again Delays Filing Audited Results

B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns raised by short sellers regarding its association with a former business partner.