Edward D. Jones & Co., L.P.
Edward Jones Investments
IndustryInvestment services
FounderEdward D. Jones
HeadquartersSt Louis, Missouri, United States

Key people

  • Penny Pennington, Managing Partner
  • Kevin Bastien, Partner, Finance & Accounting
  • Kristin Johnson, Partner, Human Resources[1]
RevenueIncreaseUS$10.165 billion (2020)[2]
IncreaseUS$1.285 billion (2020)
Total assetsIncreaseUS$1.27 trillion (2019)[3]

Number of employees

49,000[2] (2020)
ParentThe Jones Financial Companies

Edward D. Jones & Co., L.P., (since 1995, d.b.a. Edward Jones Investments), simplified as Edward Jones,[4] is a financial services firm headquartered in St. Louis, Missouri, United States. It serves investment clients in the U.S. and Canada, through its branch network of more than 15,000 locations[5] and 19,000 financial advisors.[6] The company currently has relationships with nearly 8 million clients and $1 trillion in assets, under management worldwide.[7] The firm focuses solely on individual investors and small-business owners. Edward Jones is a subsidiary[8] of The Jones Financial Companies, L.L.L.P., a limited liability limited partnership owned only by its employees and retired employees and is not publicly traded.[9][10] Edward Jones appointed Penny Pennington as managing partner, effective January 2019, making her the firms sixth managing partner and the only woman to lead a major U.S. brokerage firm.[11]




Edward Jones was founded by Edward D. Jones in St. Louis, Missouri in 1922.[4] (A different Edward D. Jones was a co-founder of Dow Jones.[12]) Edward Jones son Edward D. Ted Jones was responsible for the creation of the individual branch network, which has spread across rural communities and suburbs throughout the US and Canada. The first single broker office was opened by Ted, and staffed by Zeke McIntyre, in Mexico, Missouri.[13] Ted opened another branch office in Pueblo, Colorado, with his brother-in-law Bill Lloyd as manager of the multi-broker office. When Edward D. Jones Sr., found the teletypewriter line bill, he insisted Ted either shut the office down, or find some way to pay for it. Ted Jones paid for it by opening one-broker offices on either side of the teletypewriter line, stretching from St. Louis, Missouri, to Pueblo, Colorado. That is why some of the earliest Edward Jones offices were Dodge City, Hays, Great Bend, Manhattan in Kansas, and Jefferson City in Missouri.[citation needed] Small town branch operations took Wall Street to Main Street and created a high volume of sales for the company and its brokers. About 10% of its business in the 1960s was in commodity trading due to many clients being cattle farmers.[13]

Edward Jones Investments had the naming rights for the Edward Jones Dome in Saint Louis, Missouri. After the St. Louis Rams decided to move to Los Angeles, Edward Jones Investments exercised its right to terminate its sponsorship, and the facility is now known as The Dome at Americas Center.[14]

On December 22, 2004, the Securities and Exchange Commission, NASD and the New York Stock Exchange settled enforcement proceedings against Edward Jones, related to allegations that Edward Jones failed to adequately disclose revenue sharing payments that it received from a select group of mutual fund families that Edward Jones recommended to its customers.[15][16] The company paid a $75 million fine and disclosed the revenue sharing payments on its website.[17]

On August 13, 2015, the Securities and Exchange Commission required Edward Jones to pay a $20 million fine for overcharging retail customers.[18]

The Edward Jones PAC made two contributions to Senator Josh Hawley since he was elected in November 2018 – a $2,500 contribution[19] to a luncheon in April 2019 and a $1,000 contribution[20] to a virtual event in 2020. In January 2021 Edward Jones paused all contributions to elected officials and political organizations.[19]

At the end of the first quarter of 2021 the company had 18,967 advisors, a decrease of a bit less than 1% since the same time in 2020 when there were 19,027 advisors. The average growth from year to year is about 6%. The decrease was mainly a consequence of the COVID-19 pandemic which reduced hiring.[21]

Business model[edit]


Edward Jones financial advisors offer commission-based and fee-based financial products.[22] Offices are usually staffed by a financial advisor (licensed broker) and one branch office administrator. The branch office administrator acts as an assistant to the financial advisor, filling the roles of a secretary, manager, and co-worker. The one-broker-per-office model allows clients to choose their broker directly, and deal with that person exclusively.[23][24] As of 2017, Edward Jones had the largest number of brokers, with 16,095, and, branch offices, with 13,499, among brokerage firms in the United States.[25]

Corporate affairs[edit]

The company has its corporate headquarters in the City of Des Peres in St. Louis County, Missouri.[26][27][28] Adjacent to the company headquarters is the Edward Jones South Campus, located at the intersection of Ballas Road and Manchester Road.[29] The Edward Jones North Campus is located on a zoned plot southeast of the intersection of Interstate 270 and Dorsett Road in the City of Maryland Heights in St. Louis County.[30]

Edward Jones has locations in the United States and Canada. The company had offices in the United Kingdom for 10 years, before selling the division to British brokerage firm Towry Law in 2009.[31]

Awards and rankings[edit]

J.D. Power and Associates designated Edward Jones Investments as the firm with the Highest Investor Satisfaction nine times between the years 2002 and 2019.[32] The Canadian Arm of J.D. Power also designated the firm with Highest Investor Satisfaction for nine years between 2006 and 2019.[33]

In 2020, Fortune magazine ranked Edward Jones Investments at number seven on their Fortune List of the Top 100 Companies to Work For in 2020 based on an employee survey of satisfaction.[34]

J.D. Powers 2021 US Full-Service Investor Satisfaction Study ranked Edward Jones highest in investor satisfaction.[35] In 2021, Fortune named the company one of the 100 Best Companies to Work For for the 22nd time, ranking it number 20.[36]


  1. ^ Edwards, Greg (12 November 2019). Edward Jones adds Kristin Johnson to C-suite, reports financial results. bizwomen. Retrieved 15 March 2020.
  2. ^ a b Edward Jones (Jones Financial Companies). Fortune. Retrieved 6 January 2021.
  3. ^ Krishna, Mrinalini (25 November 2019). Edward Jones Adds More Than 330 New Advisors. Financial Advisor. Retrieved 25 November 2019.
  4. ^ a b Edward Jones History. Archived from the original on August 26, 2017. Retrieved July 22, 2017.
  5. ^ Edward Jones to End In-Person Client Meetings. Wealth Management. 2020-03-17. Retrieved 2021-01-06.
  6. ^ Edward Jones (Jones Financial Companies) | 2020 Fortune 500. Fortune. Retrieved 2021-01-06.
  7. ^ The Foundry - Page Not Found Error 404. edwardjones.monstermediaworks.ca. Archived from the original on 2013-10-03.
  8. ^ Financial Reports - Edward Jones. Archived from the original on 2014-10-15. Retrieved 2014-10-10.
  9. ^ Summary of JONES FINANCIAL COMPANIES LLLP - Yahoo. Archived from the original on 2014-10-18. Retrieved 2014-10-10.
  10. ^ Company Overview of The Jones Financial Companies, L.L.L.P. Archived from the original on 2008-04-15. Retrieved 2014-10-10.
  11. ^ Beilfuss, Lisa (2018-05-08). Edward Jones Taps Penny Pennington to Lead Brokerage. Wall Street Journal. ISSN 0099-9660. Retrieved 2019-02-11.
  12. ^ Edward Jones History: Whats in a name: Edward D. Jones. Archived from the original on 2008-10-10. Retrieved 2008-08-02.
  13. ^ a b Clipped From St. Louis Post-Dispatch. St. Louis Post-Dispatch. 1967-10-31. p. 20. Retrieved 2020-09-09.
  14. ^ Edward Jones pulls name from St. Louis dome. Kansas City Business Journal. Archived from the original on 20 February 2018. Retrieved 22 February 2016.
  15. ^ Edward Jones to Pay $75 Million to Settle Revenue Sharing Charges. U.S. Securities and Exchange Commission. 22 September 2004. Archived from the original on 14 February 2017. Retrieved 2017-11-08.
  16. ^ McCluskey, Molly; Reeves, John; Moscovitz, Ilan (6 December 2012). Can Your Edward Jones Financial Advisor Really Serve Your Best Interests?. The Motley Fool. Archived from the original on 9 November 2017. Retrieved 2017-11-08.
  17. ^ Revenue Sharing Disclosure Information. EdwardJones.com. Archived from the original on 2015-03-25. Retrieved 2017-11-08. Edward Jones’ receipt of revenue sharing payments creates a potential conflict of interest in the form of an additional financial incentive and financial benefit to the firm, its financial advisors and equity owners in connection with the sale of products from these product partners
  18. ^ Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings. SEC.gov. 2015-08-13. Archived from the original on 2015-08-13. Retrieved 2015-01-07.
  19. ^ a b Wealth Managers, Firms Cut Off Political Donations In Wake Of Capitol Attack. Financial Editorial. Retrieved 2021-01-14.
  20. ^ EDWARD JONES PAC - committee overview. FEC.gov. Retrieved 2021-01-14.
  21. ^ Edwards, Greg (May 11, 2021). Edward Jones hires fewer advisers in pandemic, takes in more client assets and more revenue as markets rise. St. Louis Business Journal. Retrieved August 11, 2021.
  22. ^ Edward Jones Financial Advisor Review | SmartAsset.com. SmartAsset. Retrieved 2019-04-29.
  23. ^ Company Edward Jones | Cleverism.com. Cleverism. Retrieved 2019-04-29.
  24. ^ Cussen, Mark P. How Do Edward Jones and Merrill Lynch Compare?. Investopedia. Retrieved 2019-04-29.
  25. ^ Edward Jones Locks In Lead as Biggest U.S. Brokerage Force. AdvisorHub. 2018-03-21. Retrieved 2019-04-29.
  26. ^ Headquarters & Campus Locations Archived 2009-08-04 at the Wayback Machine. Edward Jones. Retrieved on August 20, 2010. Edward Jones 12555 Manchester Road Saint Louis, MO 63131.
  27. ^ Thimangu, Patrick L. Des Peres, Mo.-Based Edward Jones Brokerage Looks to Europe for Expansion. St. Louis Post-Dispatch. November 27, 2002. Retrieved on August 19, 2009.
  28. ^ St. Louis firms make Fortune’s best workplaces Archived 2012-03-17 at the Wayback Machine. St. Louis Business Journal. Thursday January 22, 2009. Modified on Tuesday January 27, 2009. Retrieved on August 19, 2009.
  29. ^ Brown, Elizabeth A. Long-awaited expansion at Edward Jones under way. St. Louis Business Journal. May 4, 2008. p. 2 Archived 2015-02-09 at the Wayback Machine. Retrieved on April 5, 2013.
  30. ^ Brown, Elizabeth A. Long-awaited expansion at Edward Jones under way. St. Louis Business Journal. May 4, 2008. p. 1 Archived 2013-08-16 at the Wayback Machine. Retrieved on April 5, 2013.
  31. ^ Dunbar, Joy. Edward Jones sells UK advisory arm to Towry Law. Archived from the original on 24 September 2015. Retrieved 15 April 2015.
  32. ^ news@harrisondaily.com, Staff Report. Edward Jones Ranks highest in investor satisfaction. HarrisonDaily.com. Retrieved 2019-05-05.
  33. ^ J.D. Power 2018 Investor Satisfaction Ranking | Edward Jones. www.edwardjones.ca. Retrieved 2019-05-05.
  34. ^ Jessica Snouwaert. The 25 best companies to work for, based on employee satisfaction. Business Insider. Retrieved April 1, 2020.
  35. ^ Welsch, Andrew (April 15, 2021). Edward Jones Tops J.D. Powers Ranking Amid Shifting Client Preferences. Barrons. Retrieved August 11, 2021.
  36. ^ 100 Best Companies to Work For. Fortune). June 2, 2021. Retrieved August 11, 2021.

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