Revenue-sharing practices at Edward D. Jones that are now being questioned by regulators generated $82.4 million for the firm last year.
The Securities and Exchange Commission acknowledges that revenue-sharing fees are legal - but says the practice should be disclosed to customers.
Edward Jones posted revenue-sharing gains on its Web site to meet guidelines hammered out in a recent $75 million federal settlement stemming from charges that the firm improperly steered clients toward a handful of mutual funds that participated in a revenue sharing program.
Approximately seven mutual fund families - American Funds, Putnam Investments, Lord Abbett & Co., Goldman Sachs, The Hartford, Van Kampen Investments and Federated Investors - collectively paid more than $67.6 million to participate in Edward Jones' revenue sharing program.
SEC officials say the $75 million settlement has been earmarked for investors who were involved in disputed revenue-sharing practices at Edward Jones.