Questions and Answers
What is the approximate number of clients Edward Jones has relationships with?
7 million
What is the total value of assets under management by Edward Jones worldwide?
$1.8 trillion
What is the current structure of The Jones Financial Companies, L.L.L.P.?
Limited liability limited partnership owned by employees and retired employees
Who is the current managing partner of Edward Jones?
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Where was the first single broker office of Edward Jones opened?
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What was the reason for Ted Jones to open one-broker offices on either side of the teletypewriter line?
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In what year was Edward Jones founded?
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What type of investors does Edward Jones focus on?
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In what decade did Edward Jones generate about 10% of its business from commodity trading?
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What was the amount of the fine paid by Edward Jones in 2004 related to allegations of inadequate disclosure?
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Why did Edward Jones exercise its right to terminate its sponsorship of the Edward Jones Dome in Saint Louis, Missouri?
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What is the role of the branch office administrator in an Edward Jones office?
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In what year did Edward Jones pause all contributions to elected officials and political organizations?
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What is the typical staffing model for an Edward Jones branch office?
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What was the amount of the fine paid by Edward Jones in 2015 related to overcharging retail customers?
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How many advisors did Edward Jones have on staff at the end of 2022?
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Study Notes
Company Overview
- Edward Jones is a financial services firm headquartered in St. Louis, Missouri, United States.
- The company serves investment clients in the U.S. and Canada through its branch network of over 15,000 locations and 19,000 financial advisors.
- Edward Jones has relationships with nearly 8 million clients and $1.8 trillion in assets under management worldwide.
History
- Edward Jones was founded by Edward D. Jones in St. Louis, Missouri in 1922.
- The company's individual branch network was created by Edward D. "Ted" Jones, who opened the first single broker office in Mexico, Missouri.
- The early branch offices were established in rural communities, suburbs, and metro cities throughout the US and Canada.
Leadership
- Penny Pennington is the managing partner of Edward Jones, effective January 2019, making her the firm's sixth managing partner and the only woman to lead a major U.S. brokerage firm.
Business Model
- Edward Jones financial advisors offer commission-based and fee-based financial products.
- 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.
Controversies
- In 2004, Edward Jones was fined $75 million by the Securities and Exchange Commission, NASD, and the New York Stock Exchange for failing to disclose revenue sharing payments.
- In 2015, the Securities and Exchange Commission required Edward Jones to pay a $20 million fine for overcharging retail customers.
Political Contributions
- The Edward Jones PAC made contributions to Senator Josh Hawley in 2019 and 2020.
- In January 2021, Edward Jones paused all contributions to elected officials and political organizations.
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Description
Quiz about Edward Jones, a financial services firm serving investment clients in the US and Canada, with a large network of branches and financial advisors.
