According to a recent filing, Edward D. Jones & Co. surpassed its 2024 growth target, increasing headcount by 5 percent. This marks a significant improvement over the 2 percent growth reported in 2023.

According to AdvisorHub, Edward Jones' headcount focus contrasts with larger competitors such as Morgan Stanley and Merrill Lynch, which have downplayed advisor growth in recent years.

AdvisorHub reports that the firm also expanded its profits interest bonus program, awarding bonuses to 2,917 advisors in 2024, a 14 percent increase from the prior year. Edward Jones reported a 23 percent profit increase to $1.981 billion, driven by a 16 percent revenue growth to $16 billion. Operating costs rose by 15 percent to $14 billion.

While net new assets fell 24 percent to $74 billion in 2024 due to an industry-wide slowdown, the firm saw a 21 percent increase in new client households, adding 246,000 in 2024. Total client assets rose 13 percent year-over-year to $2.17 trillion.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.