According to Financial Planning.com, Edward Jones has sustained a net loss in its U.S. headcount of financial advisors. The firm plans to hire around 1,500 advisors this year to rebuild its ranks. Among the 1,500 new hires, the company has estimated that 15 percent of them (225) will be experienced candidates.
The firm has adopted an intentional growth strategy to grow its impact. The strategy includes offering a plan and resources for both current financial advisors and new hires to promote branch team success. According to a firm spokeswoman, "the firm remains committed to financial advisor growth to continue to serve existing clients and future clients and create a positive impact in our communities by hiring both experienced financial advisors and non-licensed candidates in future period."
Edward Jones has joined several other wealth managers that have released limited demographic data about their financial advisors and other employees. The numbers in the annual report do not include specific percentages of Black, Hispanic, Asian American, or other minority professionals. Edward Jones provided the current share of advisors, general partners, and "leaders" across the corporate office who are women or "people of color." Approximately 22 percent of the firm's advisors are women, while 9 percent are people of color. Edward Jones has set a goal for the next three years to have a force that is 30 percent female and 15 percent people of color.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
