“I think it’s long overdue, to be honest with you. It’s not necessarily that most advisors wanted to do so, it’s that they wanted the flexibility to do so,” said Jason Diamond, vice president and senior consultant at Diamond Consultants. “It’s a nod to certainly some of the attrition, but also the fact that there are real benefits to teaming, not least of which is clients get a diverse set of perspectives and also it frees up advisor capacity, which every advisor complains about.”

The brokerage has seen some high-profile advisors depart recently. For example, Jennifer Marcontell, who had $1.7 billion in assets, recently jumped ship for Ameriprise, according to published reports. Marcontell started her career at Edward Jones in 1999.

“It shows that management is taking note of those moves; they’re not just sitting idling by and saying ‘Well, too bad,’” Diamond said. “They’re actively trying to do something.”