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

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