By Jason Diamond – What’s changed at Ed Jones—and what’s driving so many advisors to seek other options? While many brokerage firms have seen noticeable advisor attrition in recent years, the velocity of moves away from Ed Jones, a firm that built its legacy on a strong culture, begs a few important questions.
By Debbie Wallen – Historically, advisors at Edward Jones rarely changed jerseys. They were loyal, felt independent enough, liked the culture and enjoyed the strong brand recognition. But, today, we are seeing more and more Jones’ advisors leaving—and here’s why
Louis Diamond Quoted – By Jake Martin, AdvisorHub – Real estate cost savings and broker demand for more collaboration appear to be putting pressure on Edward Jones to revisit its single-broker model, despite concerns that cohabitation could lead to intra-office competition.
St. Louis-based Edward Jones, the largest U.S. brokerage firm by its more than 19,000 brokers, is piloting a program
Barbara Herman Quoted – By Bruce Kelly, InvestmentNews – At a time when the financial advice industry is desperately attempting to become younger and more diverse, Edward Jones’ move earlier this week to tap a woman as its next managing partner will only make the firm more attractive to potential female candidates seeking to work as an adviser, industry observers said. “I think two things are meaningful to advisers. First, that leadership comes from the rank and file, one of their own,” said Barbara Herman, a senior vice president at Diamond Consultants, a recruiting firm for advisers. “She started as an FA and that resonates with advisers.”
Mindy Diamond Quoted – By Lisa Beilfuss, The Wall Street Journal – Client assets at Edward Jones have surpassed $1 trillion, the regional brokerage said, as it competes in recruiting against Wall Street titans like Merrill Lynch and Morgan Stanley. The recruiting retrenchment at big firms “is an opportunity for a firm like Edward Jones to compete,” said Mindy Diamond, president and founder of Diamond Consultants, a recruiting firm for financial advisers. “The playing field has been leveled,” she said, with some veteran brokers now within Edward Jones’s reach.
Mindy Diamond Quoted – FundFire – Regional brokerage Edward Jones is taking its recruitment push to Wall Street, as its assets under management surpass $1 trillion and it hunts for big city advisors to serve its growing roster of big city clients, The Wall Street Journal reports.
Howard Diamond Quoted – By Murray Coleman, Financial Advisor IQ – The numbers just don’t add up. Nearly 51% of the population is made up of women, according to the U.S. Census Bureau. And by some estimates females represent a majority of the $3 trillion-plus in generational wealth transfer expected to take place in coming years.
