I had been meaning to send you a note about the Earl Jones affair when it seems the Montreal Gazette pre-empted me! Attached is a piece that appeared in the Friday, July 17 edition featuring some of my comments.

Needless to say, there is always more to learn from this kind of story than what is commonly reported in the media. (Just for the record, I would never refer to myself as a “small advisor” !) But first, the facts as we know them.

Earl Jones had an office in Point Claire where he operated under the aegis of a business he called Consultant and Administration Corporation. He led people to believe he was a wise and caring financial advisor who had affiliations with the Royal Bank. He carried on business for some 25 odd years, managing to get many a vulnerable widow and retiree to entrust him with their life savings. Then one Friday afternoon, he simply vanished along with all his unsuspecting clients’ money. Then and only then did it come to light that Earl Jones was never duly registered as any kind of financial advisor. He had no license to practice, no credentials…