A former Edward D. Jones financial advisor has filed a class action lawsuit against the firm, alleging that although the firm had been aware of pay disparity between male and female employees, it has not gone far enough to remedy that disparity.

The advisor, Blair Zigler, filed the lawsuit on September 1 in the U.S. District Court for the Northern District of Illinois. The lawsuit claimed class action status, asserting that there are more than 100 potential class members with aggregate claims in excess of $5 million, exclusive of interest and costs.

Zigler, of Channahon, Ill., joined the firm in July 2018 from a position as a branch manager with First Financial Bank, according to the suit. When she joined, she accepted a base salary that was 27% less than her base salary at First Financial with the understanding that bonuses, commissions and fee income at Edward Jones would be greater, the suit said.

But over the next two and a half years, she switched from working in the field to working from a home office in response to what she claimed was her male colleagues at Edward Jones treating female financial advisors as a "lesser class," and "routinely engaging in sexually inappropriate and objectifying behavior” toward her and other female financial advisors, the suit said. The switch took her out of the running for much of the advancement she had expected when she joined, the suit said.

In January 2021 she was promoted to team leader and offered a new salary that was lower than the minimum base salary for that position, the suit said. Only through negotiation with human resources was Zigler was able to secure a salary slightly above the minimum for the role, she claims in the suit.

Then in June 2021, Edward Jones produced a purpose, inclusion and citizenship report, and found that only 21% of its North American financial advisors were women, and that within the firm’s home office senior leadership roles only 30% were women, the report said. In addition, the report revealed that the firm had conducted an analysis of pay across the U.S. home offices in 2020. While less than 2% of associates suffered from a gap in pay for work equal to their peer group, Zigler was discovered to be one of those associates.

Zigler said in the suit that in September 2021 she received an email saying she had been identified as among the 2% of employees who were being underpaid for their role. She also allegedly received an $11,000 raise going forward, but in taking that she had to give up other increases that had been promised to her when she was hired.

“Despite Edward Jones’ acknowledgement that it paid plaintiff Zigler less compensation for equal work, Edward Jones took no meaningful action to remedy past or future pay discrimination,” the lawsuit said. “Instead, Edward Jones offered plaintiff Zigler a small salary increase that was not retroactive, and told her she would not be eligible for future ‘position-in-range’ increases that it had promised her.”

Zigler resigned February 1, 2022, and cited inadequate pay as the reason for her departure, the suit said.

According to an Edward Jones spokesperson, the firm has yet to be served with the lawsuit and therefore has not reviewed it.

"Edward Jones is committed to creating a place of belonging for our associates and our clients and making a positive impact in our communities,” the spokesperson wrote in an email. “We condemn any instance of discrimination or bias.”

According to the suit, the firm employs more than 19,225 registered brokers, which they call financial advisors, throughout the U.S. and Canada. The firm earned net revenue of about $10 billion in 2020 and generated over $1.2 billion of income before allocations to partners.

Zigler is alleging violation of the Fair Labor Standards Act of 1938 as amended by the Equal Pay Act of 1963, violation of Title VII of the Civil Rights Act of 1964, violation of the Illinois Human Rights Act, and violation of the Illinois Equal Pay Act of 2003. She has requested a jury trial.