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Edward Jones Almost Back to Normal After Satellite Outage

Edward Jones headquarters in Manchester, Mo. (company photo)
(Courtesy: Edward Jones)
Edward Jones headquarters in Manchester, Mo. (company photo)

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.

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