Edward Jones, Broker Agree to Toss Reverse Discrimination Suit
A former Edward D. Jones & Co. broker and the St. Louis, Missouri-based brokerage agreed to dismiss a reverse discrimination class action suit, according to court filings.
Suffolk, Virginia-based Bryan D. Winter had alleged in his March 2025 complaint that Edward Jones’ policies for account transfers, promotion and succession planning favor diverse financial advisors to the disadvantage of white financial advisors. Winter had sought an injunction against Edward Jones to stop the “unlawful practice” as well as compensatory and punitive damages to its current and former straight white male brokers.
Winter and Edward Jones in late July filed in federal court in the Eastern District of Missouri a joint stipulation for a voluntary dismissal of the suit with prejudice, and the court dismissed the case.
Winter’s lawyer, J. Toji Calabro of Calabro Law Office in Kansas City, Missouri, did not respond to a request for comment.
“Edward Jones remains committed to creating a place of belonging for our associates and clients and making a meaningful impact in our communities,” a firm spokesperson said in a statement. The firm had previously denied Winter’s claims.
Winter’s lawsuit had focused in part on Edward Jones’ “Goodknight” account distribution program. In recent years, the firm changed its Goodknight policies to counter historical biases that disfavored diverse advisors and offers extra revenue-credit sharing to veteran advisors who transfer assets to less experienced women or diverse advisors. Winter alleged those policies were discriminatory against straight white men.
Edward Jones in March 2025 ended that incentive following a review.
Winter first registered with Edward Jones in 2019 but left to join Raymond James Financial in 2022. He is part of Towne Wealth Management, a practice with around 30 advisors working from offices across Virginia and North Carolina, according to the team’s website.
I wonder how much they paid him to drop it….
Mediocracy crying foul.
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