Edward Jones is celebrating a major milestone in advisor headcount that it says is key to the 102-year-old firm’s continued growth.
There are now more than 20,000 advisors across the firm’s network of around 16,000 branches across North America and the firm believes that investment in humans will pay off as clients demand the personal touch.
While the firm has lost a few advisors recently, it remains focused on organically growing its advisor base in response to the potential to reach new clients who are – or will be - navigating the great intergenerational wealth transfer in the coming decade.
But simply adding advisors will only take a firm so far and so there has also been investment in expanding the capabilities of the advisors it already has as well as for new recruits.
This includes piloting multi-financial-advisor offices with shared support teaming more than one advisor together to work with a book of clients. With more than 3,000 advisors in the US having successfully proven this way of working, it will be expanded into Canada.
Financial planning services have been central to new practice models with clients in financial planning agreements benefitting from personalized financial plans, estate planning, and tax strategies. This is being rolled out further in the next year and while it is a separate service, advisors who deliver financial planning are compensated for their time and effort.
"This intentional growth in financial advisors creates an incredible opportunity to reach new segments of clients and grow our positive impact and market share across North America," said David Chubak, responsible for the US Business Unit and Branch Development at Edward Jones. "We're investing in our financial advisors to ensure they're well-equipped with tools and resources to help our clients – and the many more we aspire to serve – achieve their financial goals."
The firm has also been trying out a larger location for advisors who work collaboratively. In New York City the firm is moving to larger real estate to house 10 advisors with flexible space for associates.
And it recently announced the expansion of the banking services it offers to clients though an extended partnership with US Bank.
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.
