Edward Jones experienced a notable increase in advisor departures in 2025, driven largely by long-tenured professionals exiting the industry, according to reporting by ThinkAdvisor citing a recent Muriel Consulting report.
The report shows that 1,458 financial advisors left Edward Jones in 2025, representing a 35% increase from 1,080 departures in 2024. Despite this rise, ThinkAdvisor reports that the firm's overall advisor headcount grew by 1.5 percent to 20,425 at year-end.
Muriel Consulting found that advisors with at least 10 years at the firm accounted for 35 percent of all departures in 2025. More than 500 long-tenured advisors exited, compared to 322 in the prior year. According to ThinkAdvisor, over 73 percent of those experienced advisors left the industry entirely, while the remainder transitioned to other firms.
The report indicates that advisor exits have steadily increased over the past five years, with 2025 marking the highest level. Data cited by ThinkAdvisor shows that from 2021 through 2025, nearly 6,000 advisors departed Edward Jones. Of those, approximately 55 percent joined other firms, while the rest exited the industry.
Shelby Nicholl, CEO of Muriel Consulting, told ThinkAdvisor that although retirements drove much of the increase, a segment of advisors continues to move between firms. The report identifies several destination firms for departing advisors, including LPL Financial, Ameriprise, Merrill, Fidelity, and Raymond James.
Muriel Consulting attributes many of these transitions to differences in business models, particularly the ability to achieve book ownership. According to ThinkAdvisor, the report notes that advisors often move to platforms that allow them to own and control their client relationships and revenue streams.
Nicholl also pointed to internal changes at Edward Jones, including technology initiatives and workforce adjustments, as potential contributing factors to advisor departures.
The report further suggests that the broader industry may absorb many of these advisors, particularly as the registered investment advisor sector faces a potential labor shortage. ThinkAdvisor reports that some advisors follow a progression in which they first join independent broker-dealers to gain business ownership and later transition to the RIA model.
Separate data cited by ThinkAdvisor indicates that advisor mobility increased across the industry in 2025. AdvizorPro reported that more than 69,000 advisors changed firms last year, with the largest group moving between broker-dealers, followed by transitions within the RIA channel.
According to ThinkAdvisor, the data reflects a broader shift in advisor behavior, as experienced professionals reassess their long-term business models and seek greater control over their practices in an evolving industry landscape.
Financial Advisor Transitions consults with advisors nationwide regarding employment transition options and strategies to preserve and protect their practices during any transition.
