Edward Jones

Office address: 12555 Manchester Road, Saint Louis, MO 63131
Website: edwardjones.com
Year established: 1922
Company type: financial services
Employees: 55,000+
Expertise: investment advice, retirement planning, wealth management, stocks, bonds, mutual funds, exchange-traded funds, unit investment trusts, charitable gift funds, fixed-income investments
Parent company: The Jones Financial Companies, L.L.L.P.
Key people: Penny Pennington (managing partner); Ken Cella, David Chubak, Keir Gumbs, David Gunn, Tina Hrevus, and Kristin Johnson (principals)
Financing status: corporation

Edward Jones is a private financial firm headquartered in St. Louis, operating over 15,000 branches throughout North America. The company focuses on helping individual investors with services like investment advice, retirement planning, and wealth management. It is known for its partnership structure, strong community presence, and a workforce of about 55,000 employees.

History of Edward Jones

Edward D. Jones Sr. set up Edward D. Jones & Co. in 1922 in downtown St. Louis. The first office was just a single room with a desk, three chairs, and a hat rack. From the start, he wanted the firm to treat both associates and clients with fairness and respect.

Expanding the vision

Ted Jones, the founder’s son, joined the company after working in New York. He became the 18th broker and soon took the business beyond St. Louis, driving hundreds of miles to reach small towns.

In 1957, the firm opened its first branch office in Mexico, Missouri. By 1968, Ted Jones became the second managing partner, pushing for employee ownership and a focus on service.

Growth across the country

By 1980, Ted Jones saw his goal of 300 offices realized and named John Bachmann as managing partner. John brought in Peter Drucker, who encouraged the company to expand into cities. This advice helped Edward Jones triple in size in five years, and the firm celebrated its 1,000th office in Stoughton, Wisconsin.

New markets and modern leadership

Edward Jones moved into Canada in 1990, and by 2008, the firm had opened its 10,000th branch. Leadership changed hands several times, with Doug Hill and Jim Weddle guiding the company through new milestones. In 2017, the company joined the CEO Action for Diversity and Inclusion to show a commitment to a more inclusive workplace.

Edward Jones’ impact today

The firm named Penny Pennington as managing partner in 2019, making her the only woman leading a major US brokerage. As of 2024, it managed $2.2 trillion in client assets and continues to grow its presence in the US and Canada.

In 2025, Edward Jones announced several leadership changes as part of its shift toward comprehensive planning. The firm also launched Edward Jones Generations, a private client service for high-net-worth clients.

Edward Jones products and services 

Edward Jones offers personalized wealth strategies and advanced planning, especially for high-net-worth clients:

Investment products

• stocks and equity funds: access to US and international stocks
• bonds and fixed income: investment-grade, high-yield, and international bonds
• mutual funds: diversified options for various risk levels
• exchange-traded funds (ETFs): flexible, diversified investment vehicles
• unit investment trusts (UITs): unique pooled investment options
• alternative investments: private equity, private credit, and real estate for qualified clients
• charitable gift fund: donor-advised giving solutions

Advisory and planning services

• Advisory Solutions®: professional portfolio management and unified managed accounts
• Guided Solutions®: hands-on investing with advisor support and built-in guardrails
• Financial Advisor Managed Solutions™: customized portfolios managed by an advisor
• advanced financial planning: estate, tax, and philanthropic strategies for complex needs
• retirement and education planning: IRAs, 401(k)s, and 529 plans

Innovation and digital solutions

• Edward Jones Generations™: private client service for high-net-worth individuals
• Edward Jones Ventures: strategic partnerships with fintech and wellness startups
• digital portfolio tools: technology-driven investment management and planning

Trust and estate services

• trust company services: trustee, co-trustee, and successor trustee roles
• customized asset management: tailored strategies for trusts and estates

Edward Jones is also known for business owner solutions and workplace financial planning. The firm is recognized for its advisor network, personalized service, and focus on innovation in wealth management.

Culture and corporate values

According to Edward Jones, collaboration shapes its culture and is rooted in its partnership structure. It also reports that its culture motivates associates to help each other succeed, not compete, and that success is shared across the company.

The company highlights several benefits for associates:

• compensation and rewards: competitive base pay, trimester bonus program, and profit sharing
• retirement savings: 401(k) with company matching and additional profit-sharing contributions
• financial wellness support: access to financial advisors, classes, and retirement planning resources
• health and wellness: subsidized medical, dental, and vision plans, plus wellness program discounts
• insurance and leave: life, disability, paid sick leave, parental leave, and adoption reimbursement
• flexible work options: headquarters in multiple locations, remote work policy, and home-based roles
• employee assistance: counseling, legal, and financial resources for associates and families
• education support: tuition reimbursement and professional development programs
• discounted services: reduced commissions on security purchases for employees

Edward Jones encourages associates to shape their own career paths and reach their highest ambitions. The firm supports growth through mentorship, skill-building, and opportunities to make a difference for clients and communities. Associates are stated to be valued for their drive and are given tools to maximize their impact and career success.

About Managing Partner Penny Pennington and key people

Penny Pennington is the managing partner and leads Edward Jones as it moves away from its traditional one-advisor, one-office model. She joined the firm in 2000 as a financial advisor, became a principal in 2006, and held several leadership roles before taking her current position in 2019. Pennington has a bachelor’s degree from the University of Virginia and an MBA from Northwestern.

The Edward Jones leadership team brings experience and unique skills to guide the firm’s direction:
 

• Ken Cella leads as principal, head of external affairs, focusing on firm reputation and government relations
• David Chubak serves as principal, head of wealth management and field management, overseeing advisor teams and client solutions
• Keir Gumbs acts as principal, chief legal officer, guiding legal strategy and regulatory compliance for the firm
• David Gunn works as principal, head of US and Canada business units, managing cross-border business operations and growth
• Tina Hrevus supports as principal, managing partner's office, coordinating executive initiatives and firmwide priorities
• Kristin Johnson operates as principal, COO, driving operational excellence and firm transformation

The leadership team includes people with a range of backgrounds and responsibilities. Their combined expertise helps Edward Jones adapt and grow in a changing industry.

The future at Edward Jones

By 2026, Edward Jones will have opened Generations hubs in Scottsdale, St. Louis, West Palm Beach, and Dallas for high-net-worth clients. It seeks to expand advisor training and add investment options like exchange funds and alternative investments. These steps will help the firm better serve wealthy clients and compete with larger firms.

These new Generations hubs are part of a broader effort to deliver more for high-net-worth clients. In a sit-down interview with Investment News, Edward Jones’ Tom Lewandowski said that Generations provides tailored planning and access to private credit, real estate, and alternatives. By combining personal advice with advanced technology, the firm helps families manage wealth transfer and make confident financial decisions for the future.