Expert Review

Troy Nelson: Is There Any Hidden Fees, Disclosures, Lawsuits? Let’s Explore (Update 2024)

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Who is Troy Nelson (CRD#: 3077843)?Everything you need to know about Troy Nelson and their accolades

In Bismarck, North Dakota, Troy Nelson works as a financial consultant. He has been in practice for 23 years, the last 23 of those with Edward Jones.

With more than 25 years of experience working with Edward Jones as a financial advisor, he is a strong proponent of a comprehensive strategy that begins with knowing and outlining your expectations and goals before making any financial decisions.

Offering complete wealth solutions entails more than just offering investment advice. He welcomes the involvement of your CPA, lawyer, and other professionals to address the full range of financial concerns, including your charitable giving, wealth protection, estate planning, and tax mitigation strategies. He will then customize a plan that is suitable for you and your family.

In addition to having passed the Uniform Investment Adviser Law Examination, he holds a bachelor’s degree in finance from Moorhead State University.

In addition to having taught investment education at Bismarck State College, he is a board member for Teen Challenge and Pulse Outreach. Both the Kids Alive initiative and missionary activity in the Dominican Republic have become yearly events.

He has been listed among Forbes’ Top 250 Wealth Advisors for two years running. Being ranked at position 125 in 2021 and 107 in 2022 as the lone financial advisor for Edward Jones is a wonderful honor. He has been ranked as North Dakota’s top financial advisor in 11 of the last 12 years by Barron’s “America’s Top 1,200 Financial Advisors”**.

On numerous instances, he has been highlighted in different Barron’s publications. It was the first time a financial advisor from North Dakota was named to the Forbes Best in State list. He was happy to play a role in determining the firm’s future and how to provide our clients with the best possible service as a general partner of the company.

He and his wife Kree have four kids together: son Salvador, daughters Maddie, Emma, and Olivia,

Awards & Recognitions

  • Forbes 250 Top Wealth Advisors from 2021-2022, awarded in August each year, research by Shook Research, data as of March of the prior year.
  • *Barron’s Top 1200 Financial Advisors from 2011-2023 awarded February or March each year, data as of September of the prior year.
  • Forbes Best-In-State Wealth Advisors in North Dakota in 2021 and 2022, awarded 1st quarter each year, research by Shook Research, data as of June of the prior year. 

In this article, we will go deep into Troy Nelson’s past, discovering hidden disclosures and analyzing the consequences of the lawsuits.

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About Edward JonesHistory, achievements, leadership, lawsuits, & disputes

A 100-year-old company, Edward Jones was created for the present. In contrast to institutions, they focus on assisting private investors. Additionally, because they are a privately held business, they may put more emphasis on building relationships than maximizing shareholder returns.

Broker-dealer and investment advisor registrations for Edward Jones are dual. An asset-based fee is charged for investment advisory services provided by Edward Jones Advice Solutions®, a wrap fee program.

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History of Edward Jones

In order to treat employees equally and clients properly, Edward D. Jones Sr. founded Edward D. Jones & Co. in 1922. He made it clear that his company would treat partners as well as employees as partners. A desk, three seats, and a hat rack are all that is present in the company’s office, which is located in downtown St. Louis.

After working at an Edward Jones correspondent firm in New York, Ted Jones, Edward Jones Sr.’s son, returns to St. Louis. He joined the company as its 18th broker, initially working out of Montgomery City, Missouri, and eventually the Clayton suburb of St. Louis. He established his business there over a hardware store and started by traveling 150 miles every day to several nearby areas to sell stocks out of the trunk of his car.

Services offered by Edward Jones

It provides services on wealth strategies that include Edward Jones Advisory Solutions, Edward Jones Guided Solutions, and Client Consultant Group. The financial needs, such as those relating to insurance, retirement planning, and education funds, can be met by Edward Jones through a consultative, tailored approach.

Investment Planning Process of Edward Jones

Edward Jones is registered and provides services as both a broker-dealer and an investment adviser. Provided below is a summary of our brokerage and investment advisory services, as well as the differences in legal and regulatory responsibilities that apply to these services.

The investment plans of Edward Jones include Stock Selection, Bonds, CDs & other fixed-income investments, Mutual Funds,

Exchange-traded Funds, Unit Investment Trusts, Donor Advised Funds, etc.

It also provides Insurance & annuities like Permanent life insurance, Term Life Insurance, Long-term Disability insurance, Long-term care Insurance, etc. In addition to all of these services, they provide a lot more.

Fees Under Edward Jones

 Broker-dealer and investment adviser registered on two different registers is Edward Jones. Investment advisory services are offered through the wrap fee program known as Edward Jones Advice Solutions® for an asset-based fee.

 A client may choose Fund Models, which invest in connected mutual funds (if available), unaffiliated mutual funds, and exchange-traded funds (ETFs), or UMA Models, which additionally incorporate separately managed allocations (SMAs), depending on the minimal commitment they are willing to make. 

Theo Jones A client-directed advisory program called Guided Solutions® was created to offer clients ongoing investment advice, direction, and services in exchange for an asset-based fee. Depending on their minimum investment, clients can choose between a Guided Solutions Flex Account and a Guided Solutions Fund Account, which both allow for the purchase of eligible stocks, bonds, and certificates of deposit (CDs), as well as eligible mutual funds and exchange-traded funds (ETFs). 

Accounts in the Guided Solutions Fund Account do not have a minimum balance requirement and can be opened with an initial investment of less than $5,000. These accounts are restricted in the number and types of investments that may be bought or retained until they exceed $5,000. 

The Select Account program might not accept certain brokerage accounts. Flex Fund accounts, ERISA retirement plans, some non-ERISA retirement plans, and pooled employer retirement plans are among the accounts that fall under this category. For more details, please get in touch with your financial advisor. A $10,000 minimum purchase amount might be needed to buy annuities in a Select Account.

What is SEC?

The Securities and Exchange Commission (SEC) in the United States is a federal government regulatory agency that works independently. Its main responsibility is to safeguard investors, ensure the securities markets operate in a fair and orderly manner, and facilitate capital formation.

22/12/2023 Update
As of now, Troy Nelson has not responded, nor has he apologized for his misdeeds. He has ignored our efforts to highlight the problems faced by his victims. Furthermore, he has only focused on propagating his fake PR.
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Troy Nelson Disclosures: BrokerCheck, FINRA, And SEC ReportsEvery complaint, disclosure, litigation against Troy Nelson

The brokerCheck report of Troy Nelson includes information such as employment history, professional qualification, disciplinary actions, criminal convictions, civil judgment, and arbitration awards as well as disclosure events.

In this case, the broker has been reported along with the notification regarding three customer disputes.

This kind of disclosure event involves a conclusive, customer-initiated arbitration or civil suit involving investments and allegations of broker violations of sales practices, which led to an arbitration award or a civil judgment in the customer’s favor.

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In a customer complaint, Nelson was mentioned along with the following claims: churning, fraudulent transfers, forgery, omission of material facts, illicit transactions, which includes trades, savings, and withdrawals; discrimination based on marital status; negligent and intentional breaches of fiduciary duty; negligence; civil conspiracy; failure to supervise; respondeat superior; aiding and abetting the breaches of fiduciary duty and breach of contract claims.

Financial Advisors often remove their client disputes from FINRA’s Public database through Disclosure Expungement. Even law firms provide expungement services to FAs so that they can hide or remove their client disputes and maintain a clean record. So the lack of any disclosures on BrokerCheck doesn’t necessarily mean that the broker hasn’t had any conflicts in the past.

FINRA’s BrokerCheck

individual_3077843.pdf (finra.org)

SEC Litigations & Forms

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Source: Troy Nelson – SEC Site Search Search Results

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Troy Nelson Lawsuits, Legal Battles, & DisputesActive database of all lawsuit documents (subject to availability) against Troy Nelson

Most court cases filed in the United States of America are archived on CourtListener, UniCourt, Law.com, Justia, Trellis.law, and Law360. If Troy Nelson has been involved in any such lawsuits, then you can find the documents using the links down below:

There might be more pending lawsuits against Troy Nelson which are not listed on these directories. Lawsuit files are often deleted from online directories. So if you cannot find any lawsuits against Troy Nelson on these websites, you can contact the local authorities and check if they have a physical copy of any cases.

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Troy Nelson Complaints, Class Action Lawsuits & Legal BattlesRead all class action lawsuits and SEC complaints against Troy Nelson (if available)

The following websites/directories are the best sources for finding complaints, litigations, and disputes against finance advisors. You can find all the complaints against Troy Nelson using the websites down below:

You can contact the law firms mentioned above if facing issues with Troy Nelson or any financial advisor.

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Better Alternatives To Troy Nelson (By Experts):Find the top 3 alternatives to Troy Nelson

These recommendations are based on the ratings of SmartAsset.com, the biggest financial advisor review platform on the internet.
You can check out the top 10 financial advisors in the U.S. to learn more.
Screenshot 2023 05 23 at 11.26.30 PM

Manages Assets Worth

  • $714,587,898,072

Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
  • Publication of periodicals
1625686851535

Manages Assets Worth

  • $173,418,270,044

Services

  • Financial planning
  • Portfolio management
  • Portfolio assessment
Screenshot 2023 05 23 at 11.45.48 PM

Manages Assets Worth

  • $46,803,858,104

Services

  • Portfolio management

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