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A Suffolk man has filed a class action lawsuit against Edward D. Jones & Co., L.P., The Jones Financial Companies, L.L.L.P., and EDJ Holding Company, Inc., alleging a nationwide policy of intentional employment discrimination against white financial advisors. 

The lawsuit, filed by Bryan D. Winter, in the United States District Court for the Eastern District of Missouri on March 10, 2025, claims that the company’s policies favor “diverse” financial advisors regarding compensation, conditions, and privileges of employment based on their race. The lawsuit aims to stop these alleged practices and secure damages for current and former Edward Jones advisors.

The lawsuit centers on the assertion that Edward Jones operates under a stated policy emphasizing “equity,” not equality, which Winter contends results in racial discrimination against white financial advisors. The complaint states this policy is evident in various employment aspects, including the “Goodknights” compensation structure. 

According to the lawsuit, this system involves Edward Jones providing “additional compensation” for transferring client assets to “women and/or diverse” advisors (defined as non-straight, white, male individuals) compared to transfers to straight, white, male advisors. This, the lawsuit claims, disadvantages white financial advisors.

Winter was a financial advisor for Edward Jones in Virginia. The complaint notes his consistent achievement of the maximum performance rating. Despite this performance, Winter alleges that Edward Jones’s discriminatory policies fostered a toxic work environment, leading to his resignation. He claims the “Goodknight” compensation structure put him and other similarly situated white advisors at a disadvantage. Furthermore, he contends that his opportunities for advancement and access to vacant office positions were lessened due to his race. The lawsuit includes examples where race allegedly influenced decisions about office assignments and the handling of underperforming non-white advisors.

The lawsuit alleges a violation of 42 U.S.C. § 1981, which guarantees equal rights to make and enforce contracts, including the terms and conditions of contractual relationships, and protects against non-governmental discrimination. 

Winter seeks to represent a class defined as “[a]ll white individuals who worked for Edward Jones as a financial advisor at any time from the date four years prior to the filing of this Complaint”. The complaint argues that this class meets the criteria for class action status, citing the numerous potential members and the common legal and factual questions. 

Winters seeks a court declaration that Edward Jones’s policies are unlawful, a permanent injunction against the race-based employment practices, and awards for nominal, compensatory, general, and punitive damages, along with attorney’s fees and costs. Winter has also demanded a jury trial.