Edward Jones Adds 225 Advisors in Third Quarter

The St. Louis-based firm grew its advisor count to 20,654 as it prepares to sell $1.4 billion in new Class B shares.

Updated on Nov. 6, 2026 in Corporate Finance

Edward Jones Adds 225 Advisors in Third Quarter

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Edward Jones ended its third quarter on Sept. 25 with 20,654 advisors, up 225 year over year. The firm is also seeking to raise $1.4 billion by selling Class B shares priced at $1,000 each.

Why it matters

The headcount growth follows attrition the firm faced roughly a year earlier, and the new share structure simplifies its partnership and reduces costs tied to the 7.5% guaranteed payment on Class A shares.

Edward Jones reported $5.2 billion in third-quarter revenue, up 13% year over year, with income before partner allocations rising 20% to $630 million. Assets under care reached nearly $2.69 trillion, though how those figures will shift once the Class B shares are issued remains unclear.

The players

Edward Jones

A St. Louis-headquartered financial services firm that operates a partnership model with independent advisors serving individual investors.

The details

Edward Jones now allows advisors to work in teams rather than operating independently from separate branch offices. Existing partners may exchange Class A shares for Class B shares through a window that closes Dec. 28, with the new shares expected to be issued on or around Jan. 4.

Sept. 8: Share exchange opportunity opened.
Sept. 25: Third quarter ended with 20,654 advisors.
Dec. 28: Share exchange opportunity expires.
Jan. 4: Class B shares expected to be issued.

Market Dynamics

The move toward team-based advisor structures reflects a broader shift in U.S. wealth management away from solo branch operations. Edward Jones' share restructuring similarly addresses how partnership-owned firms raise capital while managing guaranteed-return obligations to existing owners.

Investors with accounts at Edward Jones may see changes in how their advisors are organized as teams replace separate branch offices. Retail investors holding Class A-linked interests should weigh the 7.5% guaranteed return against the potential yields of the new Class B shares.

The takeaway

Firms that restructure partnership ownership often do so to balance growth funding with cost control, and the Class B offering signals how Edward Jones is pursuing both. Readers following wealth management should watch whether headcount growth continues at the projected 1% to 3% annual pace.

What happens next

Existing partners have until Dec. 28 to exchange Class A shares for Class B shares, and the new Class B shares are expected to be issued on or around Jan. 4.