Edward Jones asks advisers to halt face-to-face meetings with clients

Edward Jones asks advisers to halt face-to-face meetings with clients
The firm is one of many in the brokerage industry making changes to work policies in response to the coronavirus
MAR 18, 2020

As the financial advice industry continues to reel under the pressures created by COVID-19, Edward Jones, which has built a unique brand by opening offices with only one broker, is asking its advisers to suspend in-person meetings with clients.

The company is being mindful of the health of its clients, advisers and employees, it said in a statement.

"We have asked our financial advisers to temporarily suspend making residential face-to-face contacts," Edward Jones said in the statement. "We are also temporarily restricting public access to our branch offices, and encouraging clients and our financial advisers to communicate using virtual means, including telephone call, WebEx, secure text and online access. We are committed to serving and supporting our clients – without exception."

Other large firms, including UBS and Wells Fargo Advisors, are also making changes to work policies, but they have less of an impact on advisers communicating with clients. At UBS, offices are open, but the firm is suggesting that if people can work from home, they should.

Wells Fargo Advisors has not restricted in-person client meetings, but the firm is asking its advisers and employees to use good judgment and conduct as many remote meetings as possible to protect clients and each other, spokesperson Shea Leordeanu wrote in an email.

Edward Jones touts its focus on working with clients. "Our founders believed in the importance of doing business in person," according to its website. "It's why we don't send clients to a call center -- we believe face-to-face interaction is the key to developing lasting relationships."

"These changes and policies affect firms like Jones more because they have maintained the emphasis on face-to-face meetings more than almost any other firm on the Street," noted Brian Hamburger, CEO of MarketCounsel. 

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.