This location will serve as the focal point for all your business-building efforts. You should consider areas where you will feel comfortable getting to know the local business owners and residents, and areas that will provide the lifestyle and amenities you and your family can enjoy for years to come. The Ideal Location for You While you can do business anywhere you are properly licensed, we have identified thousands of locations in both existing and new markets across the country where we feel an Edward Jones office will thrive based on factors such as population, age of residents and investable assets.
Our headquarters associates responsible for analyzing geographic markets will help to find the ideal location for you. After you are hired, complete training and meet minimum performance expectations, we will do everything we can to get you into your branch office as soon as possible. However, prior to signing a lease on the branch office, we will review your progress and performance to ensure you are on track.
Below-standard performance may result in a delay in opening your Edward Jones office. On average, Edward Jones Financial Advisors earn their offices within eight to 11 months. Regional Structure When the location of your office is finalized, you will be assigned to a region and introduced to your regional leader.
Many regional events at Edward Jones include spouses and family. Financial Advisors and their families often meet for both work-related events and non-work-related gatherings such as summer barbecues, sporting events, picnics and holiday celebrations.
Regions are divided geographically and typically include 40 to 70 Financial Advisors. Edward Jones grew its business across the rural and suburban areas of the U. Power, the data analytics company, ranked Edward Jones the highest in investor satisfaction with full-service brokerage firms in Edward Jones also ranked the highest in , , , , , and tied in Edward Jones has outlasted competitors such as A.
Edwards to become the market-leading investment company among those brokers using a similar business model. Edward Jones caters to individual investors and small businesses, primarily in Middle America. Both firms are full-service companies that seek to provide a comprehensive array of services to their clients, including investment management, life and disability insurance, IRAs and CDs , qualified and non-qualified plans, banking services, and comprehensive financial plans.
But the similarities end there. Edward Jones has taken a much more personalized approach in building business for its brokers, requiring them to pound the pavement in the subdivisions surrounding their offices and knock on doors to solicit clients. Edward Jones emphasizes personal service with its business model by staffing each office with just two people—a licensed broker and a branch office administrator who handles the administrative tasks. The broker is solely responsible for bringing in business to the branch.
In this way, a broker runs their own office. This model has worked for the company because it enables Edward Jones to establish a presence in locations where larger offices with multiple brokers would not be sustainable. For this reason, it's common to find branches located in small towns and other remote areas where larger firms are not willing to go. Edward Jones seeks to create a personal feel of doing business, like dealing with family.
This model has allowed the company to thrive. Edward Jones has more than 15, locations in the U. The company is privately owned, which it believes gives it an edge because it makes decisions based on what is best for its clients rather than having to meet Wall Street earnings targets or be liable to shareholders. Merrill, on the other hand, has been one of the largest and most important players on Wall Street since its inception.
Many of its clients have been some of the biggest corporations and high-net-worth individuals in the world. Currently, Merrill seeks to increase its wealth management business by integrating itself further with its parent, Bank of America.
It hopes to create a "one-stop-shop," by offering banking and financial planning all under one roof. In , Merrill also started a discount brokerage service known as Merrill Edge. Merrill did this to capture smaller investors who do not meet the investment minimums to be full-service clients.
This service combines "the investment insights of Merrill Lynch plus the convenience of Bank of America banking. Edward Jones and Merrill represent two of the oldest and most established investment firms in the marketplace today.
Prospective brokers and planners looking to get started in the business will find comprehensive training programs at both firms. Edward Jones offers complete back-office support plus a branch office administrator to new hires while Merrill provides an extended training program that offers mentorship from an experienced advisor as well as the backing of a large corporate bank.
Bank of America. Edward Jones. Power U. Full-Service Investor Satisfaction Study. Securities and Exchange Commission. Form K ," Page 5. Accessed Aug. Career Advice. Practice Management. Company Profiles. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data.
We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Financial Advisor Portfolio Construction. Key Takeaways Edward Jones and Merrill offer a number of financial services to their clients such as investment management, life and disability insurance, IRAs and CDs, qualified and non-qualified plans, banking services, and comprehensive financial plans.
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