Broker Edward Jones removed Putnam Investments from its preferred funds family list, confirmed Jim Weddle, managing partner at Edward Jones. The decision was primarily based on performance, he said. Edward Jones has had a working relationship with Putnam for 50 years, Mr. Weddle said, and the firm continues to promote Putnam funds when appropriate for the investor.
Putnam places high value and importance on our long-standing and strong relationship with Edward Jones. Edward Jones is a great firm, and we appreciate the opportunity to offer Putnam fund to their advisers and clients, said Putnam spokeswoman Laura McNamara.