Edward Jones - Financial Advisor: Tim Ledman, AAMS®|CRPC™

Reviews

• SN

  Stacey Neal

  Aug 27, 2024
  1.0
  DO NOT TRUST YOUR LOVED ONES OR FINANCES TO TIM LEDMAN! Tim was my mother-in-law's financial advisor when my father-in-law passed away. She received funds after his death that she trusted to Tim but he gave very poor financial advice. She is a 67 year old woman who needed to pay off all debts and be set up for the rest of her years with low monthly costs that could be covered by her SS. Tim, however, advised multiple times that she take out loans and mortgages to avoid touching the money she had invested with him when purchasing a car or a home. When she did take out money, he failed to also take out taxes, causing the IRS to become involved and having to amend tax forms. This caused unnecessary stress for my MIL. We had several meetings with Tim as a family and asked that he involve the adult children who were helping guide her finances. Tim did not like this and would go back to my MIL after meetings saying that he didn't want to work with all of us. He would have her sign things that she didn't understand. We asked for an annuity with a fixed rate of return - he disregarded this (likely because he didn't sell those) and put her funds in aggressive rate options that caused her to lose 14% in one year. Since she is of the age that she cannot weather long-term market fluctuations, this made no sense. He would also pop up at her house unannounced and make her feel uncomfortable, not explain things, and pressure her to sign forms she didn't understand. Ultimately, we were able to move her money elsewhere before he caused further damage.

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