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.
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.
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.
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.
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.
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 offers personalized wealth strategies and advanced planning, especially for high-net-worth clients:
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.
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:
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.
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:
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.
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.
Memo from firm to congressional staff members questioned whether the plan might actually hurt investors
As the debate over financial regulatory reform heats up in the Senate, the fiduciary-standard issue simmers on a back burner, though its backers haven't abandoned hope of seeing its inclusion in a final bill.
A handful of distributors are seeing a rising tide of wealthy-client assets going into individual retirement accounts.
Dow Jones & Co. is selling a 90 percent stake in its stock market index unit to exchange operator CME Group Inc. for $607.5 million, the companies announced Wednesday.
In an attempt to pull further away from the transactional nature of annuity sales, brokerage executives are using tools to help their financial advisers fit product sales into a planning context.
In an attempt to pull further away from the transactional nature of annuity sales, brokerage executives are using tools to help their advisers fit product sales into a planning context.
Standard and Poor's today downgraded The Phoenix Cos Inc.'s counterparty credit rating to triple-C+ from B-.
St. Louis-based brokerage firm says it is reaping the benefits from the national trend of financial advisers exiting bigger brokerages and bringing their clients with them
After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
The Phoenix Cos. Inc., following a series of ratings downgrades earlier this year that halted sales of its life insurance and annuity products by major outside distributors, today announced the creation of a distribution company, Saybrus Partners Inc., and a consulting agreement with Edward Jones & Co. LP.
John Hancock Retirement Plan Services today kicked off a relationship with Edward D. Jones & Co. LP, providing the firm's financial advisers with access to its retirement plan products.
The chief driver of satisfaction, according to the study, is the financial adviser, comprising 30% of the total — an increase from 22% in 2008. In contrast, investment performance declined in importance — accounting for only 15% of overall satisfaction, compared with 24% in 2008.
Wells Fargo & Co.'s first-quarter report on Wednesday had few big surprises, as results fell in line with the bank's forecast and easily beat Wall Street's estimates. But like most of its peers, the bank continues to post higher credit costs.
Fee-only financial advisers were unhappy to learn that 12(b)-1 fee reform — once a top priority for the Securities and Exchange Commission — is on hold, but others in the investment management industry, specifically those in the brokerage community, welcomed the news.
Industry observers are cheering the news that the hugely popular American Funds group stood up to regulators — and won.
