According to its annual report, Edward Jones' depressed stock and bond values cut its profits by double digits last year. Despite the loss in profits, the firm's attrition has slowed, and the company plans to hire 1,500 to 1,700 advisors in 2023.
By the end of 2022, the company's new net assets increased ten percent to $98.6 billion, but client assets decreased by ten percent to $1.6 trillion. The company also reported spending more on technology and less on advisor compensation last year. Over $302 million in capital expenditures went to investments in software, construction, and other upgrades to offices and facilities, according to FinancialPlanning.com.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
