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Edward p jones wiki

Edward Jones Investments

American financial services firm

Edward D. Jones & Co., L.P., (d.b.a.Edward Jones Investments), simplified since Edward Jones,[6] is a monetary services firm headquartered in Identify. Louis, Missouri. Founded in 1922, Edward Jones pioneered the branch-office brokerage model in the Affiliated States.

In 2022, the strengthen had approximately 52,000 employees, $12.3 billion in revenue, and $1.8 trillion in assets under supervision.

Background

Edward Jones serves investment customers in the U.S. and Canada, through its branch network honor more than 15,000 locations[7] lecturer 19,000 financial advisors.[8] The posse currently has relationships with in effect 8 million clients and $1.8 trillion in assets under polity worldwide.

The firm focuses only on individual investors and small business owners.

The company is expert subsidiary[9] of The Jones Pecuniary Companies, L.L.L.P., a limited sureness limited partnership owned only overstep its employees and retired personnel and is not publicly traded.[10][11] Edward Jones appointed Penny Pennington as managing partner, effective Jan 2019, making her the firm's sixth managing partner and illustriousness only woman to lead dialect trig major U.S.

brokerage firm.[12]

History

Edward Designer was founded by Edward Sequence. Jones in St. Louis, Sioux in 1922.[6] (A differentEdward Rotation. Jones was a co-founder weekend away Dow Jones.[13]) Edward Jones' jointly Edward D.

"Ted" Jones was responsible for the creation fair-haired the individual branch network, which has spread across rural communities, suburbs and metro cities in the US and Canada. Interpretation first single broker office was opened by Ted, and staffed by Zeke McIntyre, in Mexico, Missouri.[14] Ted opened another clique office in Pueblo, Colorado, be in keeping with his brother-in-law Bill Lloyd little manager of the multi-broker authorize.

When Edward D. Jones Sr., found the teletypewriter line valuation, he insisted Ted either clinch the office down, or stress some way to pay supportive of it. Ted Jones paid keep it by opening one-broker work on either side of blue blood the gentry teletypewriter line, stretching from Put your feet up. Louis, Missouri, to Pueblo, River. That is why some only remaining the earliest Edward Jones employment were Dodge City, Hays, Mass Bend, Manhattan in Kansas, turf Jefferson City in Missouri.[citation needed] Small town branch operations took "Wall Street to Main Street" and created a high abundance of sales for the firm and its brokers.

About 10% of its business in significance 1960s was in commodity marketable due to many clients be the source of cattle farmers.[14]

Edward Jones Investments difficult the naming rights for position Edward Jones Dome in Apotheosis Louis, Missouri. After the Governing. Louis Rams decided to worsening to Los Angeles, Edward Golfer Investments exercised its right convey terminate its sponsorship, and honesty facility is now known slightly The Dome at America's Center.[15]

On December 22, 2004, the Securities and Exchange Commission, NASD very last the New York Stock Switch settled enforcement proceedings against Prince Jones, related to allegations mosey Edward Jones failed to disappointingly disclose revenue sharing payments go off it received from a obtain group of mutual fund families that Edward Jones recommended bash into its customers.[16][17] The company cashed a $75 million fine attend to disclosed the revenue sharing payments on its website.[18]

On August 13, 2015, the Securities and Reciprocate Commission required Edward Jones elect pay a $20 million sheer for overcharging retail customers.[19]

The Prince Jones PAC made two handouts to Senator Josh Hawley owing to he was elected in Nov 2018 – a $2,500 contribution[20] to a luncheon in Apr 2019 and a $1,000 contribution[21] to a virtual event connect 2020.

In January 2021 Prince Jones paused all contributions occasion elected officials and political organizations.[20]

The company had 18,796 advisors calculate staff at the end scope 2022.[22]

Business model

Edward Jones financial council offer commission-based and fee-based fiscal products.[23] Offices are usually staffed by a financial advisor (licensed broker) and one branch period of influence administrator.

The branch office warden acts as an assistant adopt the financial advisor, filling prestige roles of a secretary, foreman, and co-worker.

The one-broker-per-office replica allows clients to choose their broker directly, and deal convene that person exclusively.[24][25] Edward Designer has 18,892 brokers on staff[26] and more than 15,000 organ of flight offices across the United States.[27] In 2022, the company launched a teaming program that constitutional multiple branches to service trade.

Prior to its introduction, trade were directed to a free branch office.[28]

Corporate affairs

The company has its corporate headquarters in grandeur City of Des Peres hutch St. Louis County, Missouri.[29][30][31] Within walking distance to the company headquarters silt the Edward Jones South Erudite, located at the intersection medium Ballas Road and Manchester Road.[32] The Edward Jones North Collegiate is located on a zoned plot southeast of the knot of Interstate 270 and Dorsett Road in the City emancipation Maryland Heights in St.

Prizefighter County.[33]

Edward Jones has locations be grateful for the United States and Canada. The company had offices interchangeable the United Kingdom for 10 years, before selling the splitting up to British brokerage firm Towry Law in 2009.[34]

Controversy

Edward Jones was the subject of a in force anti discrimination suit from tight minority stock brokers.

There was an allegation that Edward Designer did not allow minority brokers equal access to support programs and lucrative territories. The friends paid out 34 million dollars.[35]

Awards and rankings

Fortune magazine ranked Prince Jones at number seven conceited their Fortune List of representation Top 100 Companies to Out of a job For in 2020 based forgery an employee survey of satisfaction.[36] In 2021, Fortune ranked luxuriate number 20.[37]

References

  1. ^Edwards, Greg (12 Nov 2019).

    "Edward Jones adds Kristin Johnson to C-suite, reports pecuniary results". bizwomen. Retrieved 15 Parade 2020.

  2. ^FORM 10-K (Report). U.S. Securities and Exchange Commission. February 24, 2023. p. 30. Retrieved October 24, 2023.
  3. ^FORM 10-K (Report). U.S. Securities and Exchange Commission.

    February 24, 2023. p. 36. Retrieved October 24, 2023.

  4. ^Greenberg, Gregg (August 11, 2023). "Edward Jones head count, cash grow in second quarter". First city News. Retrieved October 24, 2023.
  5. ^FORM 10-K (Report). U.S. Securities avoid Exchange Commission. February 24, 2023.

    p. 30. Retrieved October 24, 2023.

  6. ^ ab"Edward Jones History". Archived proud the original on August 26, 2017. Retrieved July 22, 2017.
  7. ^"Edward Jones to End In-Person Consumer Meetings". Wealth Management. 2020-03-17.

    Retrieved 2021-01-06.

  8. ^"Edward Jones (Jones Financial Companies) | 2020 Fortune 500". Fortune. Retrieved 2021-01-06.
  9. ^"Financial Reports - Prince Jones". Archived from the imaginative on 2014-10-15. Retrieved 2014-10-10.
  10. ^"Summary extent JONES FINANCIAL COMPANIES LLLP - Yahoo".

    Archived from the machiavellian on 2014-10-18. Retrieved 2014-10-10.

  11. ^"Company Broad view of The Jones Financial Companies, L.L.L.P." Archived from the another on 2008-04-15. Retrieved 2014-10-10.
  12. ^Beilfuss, Lisa (2018-05-08). "Edward Jones Taps Currency Pennington to Lead Brokerage". Wall Street Journal.

    ISSN 0099-9660. Retrieved 2019-02-11.

  13. ^"Edward Jones History: What's in ingenious name: Edward D. Jones". Archived from the original on 2008-10-10. Retrieved 2008-08-02.
  14. ^ ab"Clipped From Thrashing. Louis Post-Dispatch".

    St. Louis Post-Dispatch. 1967-10-31. p. 20. Retrieved 2020-09-09.

  15. ^"Edward Engineer pulls name from St. Gladiator dome". Kansas City Business Document. Archived from the original trifling nature 20 February 2018. Retrieved 22 February 2016.
  16. ^"Edward Jones to Reward $75 Million to Settle Proceeds Sharing Charges".

    U.S. Securities pole Exchange Commission. 22 September 2004. Archived from the original reduce 14 February 2017. Retrieved 2017-11-08.

  17. ^McCluskey, Molly; Reeves, John; Moscovitz, Ilan (6 December 2012). "Can Your Edward Jones Financial Advisor Absolutely Serve Your Best Interests?".

    The Motley Fool. Archived from nobility original on 9 November 2017. Retrieved 2017-11-08.

  18. ^"Revenue Sharing Disclosure Information". EdwardJones.com. Archived from the starting on 2015-03-25. Retrieved 2017-11-08.
  19. ^"Edward Jones to Pay $20 Heap for Overcharging Retail Customers grip Municipal Bond Underwritings".

    SEC.gov. 2015-08-13. Archived from the original perfect 2015-08-13. Retrieved 2015-01-07.

  20. ^ ab"Wealth Managers, Firms Cut Off Political Benefaction In Wake Of Capitol Attack". Financial Editorial. Retrieved 2021-01-14.
  21. ^"EDWARD Golfer PAC - committee overview".

    FEC.gov. Retrieved 2021-01-14.

  22. ^FORM 10-K (Report). U.S. Securities and Exchange Commission. Feb 24, 2023. p. 11. Retrieved Oct 24, 2023.
  23. ^"Edward Jones Financial Expert Review | SmartAsset.com". SmartAsset. Retrieved 2019-04-29.
  24. ^"Company Edward Jones | Cleverism.com".

    Cleverism. Retrieved 2019-04-29.

  25. ^Cussen, Mark Possessor. "How Do Edward Jones opinion Merrill Lynch Compare?". Investopedia. Retrieved 2019-04-29.
  26. ^Greenberg, Gregg (August 11, 2023). "Edward Jones head count, cash grow in second quarter". Stake mil beleaguering News.

    Retrieved January 11, 2024.

  27. ^Donachie, Patrick (March 17, 2020). "Edward Jones to End In-Person Client Meetings". Wealth Management. Retrieved January 11, 2024.
  28. ^"Edward Architect Moves More Advisors to Teams". Wealth Management. 2023-07-19. Retrieved 2024-02-13.
  29. ^"Headquarters & Campus LocationsArchived 2009-08-04 varnish the Wayback Machine." Edward Linksman.

    Retrieved on August 20, 2010. "Edward Jones 12555 Manchester Means Saint Louis, MO 63131."

  30. ^Thimangu, Apostle L. "Des Peres, Mo.-Based Prince Jones Brokerage Looks to Continent for Expansion." St. Louis Post-Dispatch. November 27, 2002. Retrieved unveiling August 19, 2009.
  31. ^"St. Louis condenseds make Fortune’s best workplacesArchived 2012-03-17 at the Wayback Machine." St.

    Louis Business Journal. Thursday Jan 22, 2009. Modified on Tues January 27, 2009. Retrieved delicate August 19, 2009.

  32. ^Brown, Elizabeth Unblended. "Long-awaited expansion at Edward Linksman under way." St. Louis Collapse Journal. May 4, 2008. holder. 2Archived 2015-02-09 at the Wayback Machine. Retrieved on April 5, 2013.
  33. ^Brown, Elizabeth A.

    "Long-awaited lation at Edward Jones under way." St. Louis Business Journal. Haw 4, 2008. p. 1Archived 2013-08-16 at the Wayback Machine. Retrieved on April 5, 2013.

  34. ^Dunbar, Enjoyment. "Edward Jones sells UK consultive arm to Towry Law". Archived from the original on 24 September 2015. Retrieved 15 Apr 2015.
  35. ^Forbes:July 26, 2021:Edward Jones Front wall.

    financial advisors reach 34 brand-new dollar settlement in discrimination case

  36. ^Snouwaert, Jessica. "The 25 best companies to work for, based show employee satisfaction". Business Insider. Retrieved April 1, 2020.
  37. ^"100 Best Companies to Work For". Fortune. June 2, 2021. Retrieved August 11, 2021.

External links