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Edward D. Jones & Co., L.P., since 1995 simplified as Edward Jones,[2] 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 14,000 locations. The company currently has relationships with nearly 7 million clients and $1 trillion in assets under management worldwide.[3] The firm focuses solely on individual investors and small-business owners. Edward Jones is a subsidiary[4] 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.[5][6] Edward Jones appointed Penny Pennington as managing partner, effective January 2019, making her the firm's sixth managing partner and the only woman to lead a major U.S. brokerage firm.[7]

Edward D. Jones & Co., L.P.
IndustryInvestment services
FounderEdward D. Jones
HeadquartersSt Louis, Missouri, United States
Key people
  • Penny Pennington, Managing Partner
  • Kevin Bastien, Partner, Finance & Accounting
  • Anthony McBride, Partner, Human Resources
RevenueIncreaseUS$7 billion (2017)
IncreaseUS$746 million (2016)
Total assetsIncreaseUS$19.424 billion (2016)
Number of employees
45,000[1] (2017)
ParentThe Jones Financial Companies



An Edward Jones Investments in Gillette, Wyoming
Edward Jones in Markham, Ontario

Edward Jones was founded by Edward D. Jones in St. Louis, Missouri in 1922.[2] (A different Edward D. Jones was a co-founder of Dow Jones.[8]) 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. 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, and Manhattan, Kansas and Jefferson City, Missouri.

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 that the facility would once again be known as The Dome at America's Center.[9]

Business modelEdit

Edward Jones branch office, Ypsilanti Township, Michigan

Edward Jones financial advisors offer commission-based and fee-based financial products.[10] Offices are usually staffed by two associates: one Financial Advisor (see Financial advisor, a licensed broker) and one Branch Office Administrator. The one-broker-per-office model allows clients to choose their broker directly and deal with just that broker.[11] [12] 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.[13]

Corporate affairsEdit

The company has its corporate headquarters in the City of Des Peres in St. Louis County, Missouri.[14][15][16] Adjacent to the company headquarters is the Edward Jones South Campus, located at the intersection of Ballas Road and Manchester Road.[17] The Edward Jones North Campus is in an area southeast of the intersection of Interstate 270 and Dorsett Road in the City of Maryland Heights in St. Louis County.[18]

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 Towry Law in 2009.[19]

Awards and rankingsEdit

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. [20] The Canadian Arm of J.D. Power also designated the firm with "Highest Investor Satisfaction for nine years between 2006 and 2019. [21]

Fortune magazine ranked Edward Jones as seventh out of 100 in its 2019 annual listing of the "Best Companies to Work for in America."[22]

Criticism and controversyEdit

Revenue sharingEdit

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.[23][24]

As part of the settlement, Edward Jones paid a $75 million fine. Edward Jones also agreed to disclose on its public website information regarding revenue sharing payments including the admission that "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."[25]

Municipal bonds overchargingEdit

On August 13, 2015, the Securities and Exchange Commission required Edward Jones to pay a $20 million fine because, according to the SEC: "Edward Jones undermined the integrity of the bond underwriting process by overcharging retail customers by at least $4.6 million and by misleading municipal issuers."[26]


  1. ^ "Jones Financial (Edward Jones)". Fortune. Retrieved 2018-12-18.
  2. ^ a b "Edward Jones History". Archived from the original on August 26, 2017. Retrieved July 22, 2017.
  3. ^ "The Foundry - Page Not Found Error 404". Archived from the original on 2013-10-03.
  4. ^ "Financial Reports - Edward Jones". Archived from the original on 2014-10-15. Retrieved 2014-10-10.
  5. ^ "Summary of JONES FINANCIAL COMPANIES LLLP - Yahoo". Archived from the original on 2014-10-18. Retrieved 2014-10-10.
  6. ^ "Company Overview of The Jones Financial Companies, L.L.L.P." Archived from the original on 2008-04-15. Retrieved 2014-10-10.
  7. ^ Beilfuss, Lisa (2018-05-08). "Edward Jones Taps Penny Pennington to Lead Brokerage". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-02-11.
  8. ^ "Edward Jones History: What's in a name: Edward D. Jones". Archived from the original on 2008-10-10. Retrieved 2008-08-02.
  9. ^ "Edward Jones pulls name from St. Louis dome". Kansas City Business Journal. Archived from the original on 20 February 2018. Retrieved 22 February 2016.
  10. ^ "Edward Jones Financial Advisor Review |". SmartAsset. Retrieved 2019-04-29.
  11. ^ "Company Edward Jones |". Cleverism. Retrieved 2019-04-29.
  12. ^ Cussen, Mark P. "How Do Edward Jones and Merrill Lynch Compare?". Investopedia. Retrieved 2019-04-29.
  13. ^ "Edward Jones Locks In Lead as Biggest U.S. Brokerage Force". AdvisorHub. 2018-03-21. Retrieved 2019-04-29.
  14. ^ "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."
  15. ^ 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.
  16. ^ "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.
  17. ^ 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.
  18. ^ 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.
  19. ^ Dunbar, Joy. "Edward Jones sells UK advisory arm to Towry Law". Archived from the original on 24 September 2015. Retrieved 15 April 2015.
  20. ^, Staff Report. "Edward Jones Ranks highest in investor satisfaction". Retrieved 2019-05-05.
  21. ^ "J.D. Power 2018 Investor Satisfaction Ranking | Edward Jones". Retrieved 2019-05-05.
  22. ^ "100 Best Companies to Work For 2019". Fortune. Retrieved 2019-05-05.
  23. ^ "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.
  24. ^ 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.
  25. ^ "Revenue Sharing Disclosure Information". 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
  26. ^ "Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings". 2015-08-13. Archived from the original on 2015-08-13. Retrieved 2015-01-07.

External linksEdit