The Wall Street Journal reports that the Edward D. Jones stock brokerage company has been pushing customers to invest in seven funds – even though other funds might do better – because those funds give Jones brokers bonuses. Edward D. Jones is based in St. Louis. The Journal says Jones does not usually tell customers about those arrangements. The company has refused to comment on the Wall Street Journal article. Last November, another prominent stock brokerage, Morgan Stanley, agreed to pay $50-Million to settle federal allegations its employees did not tell customers about similar deals.
