Edward Jones is expanding its wealth management services with the launch of a private client offering.
The new offering unveiled Tuesday, Edward Jones Generations, is designed for investors with at least $10 million in investable assets.
“Our 9 million clients include high-net-worth individuals, and we know they have very unique needs,” said David Chubak, head of US business unit and branch development at Edward Jones, said in a statement Tuesday.
The new offering provides expanded financial planning and investment management services, along with a broader range of products and dedicated support. Clients will have access to specialized teams that include home office professionals and external tax and legal representatives from EY and Husch Blackwell, who will work alongside financial advisors. The service will include tax strategies, trust and estate planning, philanthropic advising, and business succession planning.
The move represents something of a coup for the firm, historically known for serving Main Street investors. As noted by Barron's, the firm's push to attract more high-net-worth clients means it's competing for a market traditionally dominated by firms such as Morgan Stanley, UBS, and Merrill Lynch.
Edward Jones did not disclose specific pricing details, but a company representative told Barron’s that the fees would be “competitive.”
Beyond wealth planning, Edward Jones Generations will provide access to alternative investments, including private equity, private credit, and private real estate, as well as broader choices in separately managed accounts. High-net-worth clients will also have access to lending solutions, specialized cash management services, and the firm’s Client Consultation Group, which offers expertise on retirement income planning, tax-sensitive portfolio construction, and business sale strategies.
“Being able to bring together a dedicated team of trusted professionals working collaboratively to meet clients’ needs is a game changer for Edward Jones and for our high-net-worth clients,” said Chris Wallen, a financial advisor and field-based principal in Scottsdale, Arizona. “Through Edward Jones Generations, we’re able to uncover, understand and solve clients’ needs in an entirely new way.”
The firm's move toward higher-value planning services isn't entirely surprising, as it has sought to establish itself as a thought leader in generational wealth and business succession planning.
The firm’s move toward serving wealthier clients aligns with other recent changes to its business model. Edward Jones has been evolving beyond its traditional one-advisor, one-branch approach by allowing advisors to form teams and encouraging more of them to obtain advanced planning credentials.
In 2024, the firm said more than 1,000 of its financial advisors and home office employees earned the CFP designation, marking the second year in a row it had achieved that. By December, almost 5,000 advisors and home office employees held the mark.
According to CFP Board, Edward Jones's progress last year put it well ahead of other firms. The credential-granting body's 2024 leaderboard put Fidelity a distant second place as it added 414 new CFP professionals in 2024, followed by Northwestern Mutual, which added 265.
According to Barron’s, Edward Jones reported 517,548 high-net-worth advisory clients in its most recent ADV filing with the SEC. The firm has also been investing in new products and services aimed at wealthier investors, including SMAs and tax-efficient portfolio strategies.
“Our enhanced high-net-worth offerings, including Edward Jones Generations, are grounded in what we do best – understanding what matters most to our clients and helping them plan for and achieve their goals,” Chubak said.
Edward Jones, which has more than 20,000 financial advisors in North America, managed $2.2 trillion in client assets as of December 31.
Edward Jones Generations will be introduced to select clients in the second quarter of 2025 and is expected to become more widely available in 2026.
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.
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.
“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.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
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.
