Employees of the Edward Jones investment firm say the intense media coverage surrounding the alleged wrongdoings of self-proclaimed financial adviser Earl Jones has had a negative effect on their company.
Edward Jones is a financial planning company with nearly six million clients. The company operates 650 branches across Canada, the Unites States and the United Kingdom.
Earl Jones operated out an office in Pointe-Claire, and has been accused of bilking between 100 and 150 investors - including some of his own family members -- out of millions of dollars, in an alleged Ponzi scheme.
Patrick Turgeon, who works for Edward Jones, said the Earl Jones affair has drawn negative attention to the company.
"We had people who are not clients walk in...and they're wondering 'Are you the same?' And we let them know, 'No, we're not the same, we're Edward Jones.'"
Turgeon added that the scandal prompted the company to take measures to reassure clients.
"We were very proactive with our clients. As soon as it came out we said, 'OK, we've got to get on the phone.'"
Marketing professor Robert Soroka said it's no surprise that some people are fearful of the name "Jones".
"A lot of people just see the name Jones and right away all the negative connotations take place...whichever way you slice it, the brand may have been compromised. They (Edward Jones) may have to do a bit of rebranding. They may have to consider how to reposition themselves," Soroka said.
