Following a decade and a half of quiet expansion, Benjamin F. Edwards, a multigenerational wealth management firm based in St. Louis, Missouri, has reached a historic milestone.
The independent wealth firm, which traces its roots to 1887, now operates 100 locations in 34 states and oversees $47 billion in assets under management.
The latest branch located in Wyoming, Michigan launched in December with three financial advisors, marking a meaningful step for the firm founded by forebears of the Edwards family six generations ago.
"We’re celebrating this historic milestone, which we believe affirms our business model of putting the interests of our advisors and their clients first," Tad Edwards, chairman, CEO, and president of Benjamin F. Edwards said in a statement announcing the achievement.
The firm was established in its current form in 2008 by Edwards, a four-decade veteran of the industry whose professional legacy began with the founding of predecessor firm A.G. Edwards in 1887. At one point, A.G. Edwards was recognized as the largest brokerage firm outside New York.
Benjamin F. Edwards' journey of expansion started with its first location in Springfield, Missouri, in 2009.
"Tad’s vision for Edwards was nimble and responsive, with a single focus – to serve," said Tim Reese, branch manager of the Springfield location.
Benjamin F. Edwards operates both traditional full-service advisory offices and Edwards Wealth Management, a registered investment advisor, giving advisors the flexibility to choose their preferred business model. The firm currently reports employing 737 individuals, including 328 advisors.
In contrast to the influence of private equity on the wealth space when it comes to expansion and succession plans, Edwards maintains his company remains commited to independence, with an emphasis on values such as integrity and trust to guide its growth strategy.
The firm remains privately held and debt-free, with a stated goal of maintaining its independence for future generations.
"We seek quality over quantity – choosing entrepreneurial advisors who value freedom and independence and want to partner with a leadership team they can know and trust," Edwards said.
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