Edward Jones Investments
||This article has been nominated to be checked for its neutrality. (April 2009)|
|Headquarters||Des Peres, Missouri|
James D. Weddle, Managing Partner
|Revenue||$5.7 billion USD (2013)|
Edward D. Jones & Co., L.P., since 1995 simplified as Edward Jones is a financial services firm headquartered in Des Peres, Missouri in Greater St. Louis which serves investment clients in the United States and Canada, through its branch network of more than 11,000 locations and currently have relationships with nearly 7 million clients worldwide. The firm focuses solely on individual investors and small-business owners. Edward Jones is a limited partnership owned only by its employees and retired employees and is not publicly traded.
Edward Jones financial advisors sell commission-based and fee-based financial products. 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. This model also allows the firm to open offices in areas and towns where a large office staffed by many brokers would be unprofitable. This model is also the reason that Edward Jones currently has the largest number of branch offices among brokerage firms in the United States.
The company has its corporate headquarters in the City of Des Peres in St. Louis County, Missouri, in Greater St. Louis. Adjacent to the company headquarters is the Edward Jones South Campus, located at the intersection of Ballas Road and Manchester Road. 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.
As of 2008 in the South Campus there were plans to add an office building with 225,000 square feet (20,900 m2) of space and an accompanying parking garage with room for 960 cars. It was scheduled to be completed in November 2009. The new building is adjacent to the headquarters facility.
As of 2008 there were plans to add three buildings and parking garages corresponding to the buildings in the North Campus that were to be completed within one and one half years. The first new building, a six story building, has almost 200,000 square feet (19,000 m2) of space. It was scheduled to have been completed in October 2008. The second new building, a nine story building with a connection to a multipurpose facility and a four story training facility with a capacity for over 500 financial advisors, has 372,000 square feet (34,600 m2) of space. It was scheduled to be completed in September 2009. It includes a multipurpose room with a capacity of 600.
Awards and rankings
- Designated the firm with "Highest in Investor Satisfaction" by J. D. Power and Associates in 2002, 2005, 2006, 2007, 2009, 2010, 2012, and 2013.
- In Canada also Designated the firm with "Highest in Investor Satisfaction" by J. D. Power and Associates in 2006, 2007, 2008 and 2013.
- Edward Jones ranked No. 1 in the annual SmartMoney magazine full-service brokerage survey. The firm received high marks in the four categories surveyed by the magazine: stock picking, customer satisfaction, trust and customer statements.
- Named one of the "Best Companies to Work for in America" by Fortune magazine in its annual listing. The firm took the No. 8 spot overall in the ranking (2012). The firm also was named to the No. 3 spot for large companies.
Criticism & controversy
Revenue sharing disclosure
On Dec. 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.
As part of the settlement, Edward Jones paid a $75 million fine. Edward Jones also agreed to disclose on its public Web site information regarding revenue sharing payments. Accordingly, the Edward Jones website states:
- "Edward Jones receives payments known as revenue sharing from certain mutual fund companies, 529 plan program managers and insurance companies (collectively referred to as “product partners”). Virtually all of Edward Jones’ transactions relating to mutual funds, 529 plans and insurance products involve product partners that pay revenue sharing to Edward Jones. We want you to understand 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."
Edward Jones was founded by Edward D. Jones in 1922. (A different Edward D. Jones was a cofounder of Dow Jones.) 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 has designated naming rights for the Edward Jones Dome in Saint Louis.
As a firm, Edward Jones believe it is extremely important to give back to the communities. An example of the organizations Edward Jones takes pride in supporting includes the United Way and Junior Achievement. 
- "Edward Jones History". Retrieved 2008-08-02.
- "Headquarters & Campus Locations." Edward Jones. Retrieved on August 20, 2010. "Edward Jones 12555 Manchester Road Saint Louis, MO 63131."
- 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.
- "St. Louis firms make Fortune’s best workplaces." St. Louis Business Journal. Thursday January 22, 2009. Modified on Tuesday January 27, 2009. Retrieved on August 19, 2009.
- Brown, Elizabeth A. "Long-awaited expansion at Edward Jones under way." St. Louis Business Journal. May 4, 2008. p. 2. Retrieved on April 5, 2013.
- Brown, Elizabeth A. "Long-awaited expansion at Edward Jones under way." St. Louis Business Journal. May 4, 2008. p. 1. Retrieved on April 5, 2013.
- "Edward Jones to Pay $75 Million to Settle Revenue Sharing Charges". SEC.gov. 22 September 2004. Retrieved 2013-11-04.
- "Can Your Edward Jones Financial Advisor Really Serve Your Best Interests". Fool.com. 6 December 2012. Retrieved 2013-11-04.
- "Revenue Sharing Disclosure Information". EdwardJones.com. Retrieved 2013-11-04.
- "Edward Jones History: What's in a name: Edward D. Jones". Retrieved 2008-08-02.