By Tom Weber, KWMU
St. Louis – St. Louis-based Edward Jones has connected about 99 percent of its branches to a new satellite.
The company lost its satellite a week ago, which meant orders couldn't be sent electronically.
Brokers who usually buy stock online had to phone in those orders.
Edward Jones spokesman John Boul says all but a hundred or so branches are re-connected.
He says customers probably didn't notice any major problems, in part, because of the way Edward Jones does business.
"Our whole philosophy is to buy good-quality investments and hold them for the long term," Boul said. "Our customers typically are not traders that are doing a lot of switching in and out of things, so that lessens the impact."
The satellite mishap affected more than 9,000 Edward Jones branches in the U.S. and Canada.
Send questions and comments about this story to feedback@stlpublicradio.org.
Support Local Journalism
St. Louis Public Radio is a non-profit, member-supported, public media organization. Help ensure this news service remains strong and accessible to all with your contribution today.