Edward Jones, traditionally recognized for serving Main Street investors, is making a strategic push to attract ultra-high-net-worth clients.
The St. Louis-based firm is launching Edward Jones Generations, a specialized private client service designed for investors with at least $10 million in investible assets. The firm plans to roll out the offering to select clients in the second quarter, with a broader expansion set for 2026.
David Chubak, head of Edward Jones’ U.S. business unit and branch development, emphasizes the need for a more tailored approach to serve affluent investors. “Among our 9 million clients are high-net-worth individuals with unique financial complexities,” he says.
Edward Jones Generations will provide clients with comprehensive financial planning, customized investment management, expanded product and service options, and dedicated operational support. While the firm has not disclosed specific fees, a representative assures that pricing will be competitive.
Edward Jones currently offers multiple account types with varying fee structures. For instance, its Advisory Solutions program requires a $25,000 minimum investment and charges an annual fee of 1.4%, with reductions available based on asset levels.
This move aligns with the firm’s broader transformation. Edward Jones is shifting away from its long-standing model of solo advisor offices by encouraging team-based advisory practices. Additionally, it is promoting professional development, including the pursuit of Certified Financial Planner (CFP) designations among its advisors.
By introducing a dedicated offering for ultra-high-net-worth clients, Edward Jones positions itself to compete more directly with established wealth management giants such as Morgan Stanley, UBS, and Merrill Lynch.
Despite its reputation for catering to retail investors, Edward Jones is a major player in wealth management. With over 20,000 financial advisors across North America, the firm has a presence in 68% of U.S. counties.
As of Dec. 31, Edward Jones manages $2.2 trillion in client assets for more than 9 million clients, averaging approximately $244,000 per client. According to its latest Form ADV filing with the Securities and Exchange Commission, the firm serves 517,548 high-net-worth advisory clients—defined by the SEC as individuals with at least $1 million in net worth.
Edward Jones’ expansion into the ultra-high-net-worth segment reflects its commitment to evolving alongside client needs, ensuring its advisors can deliver sophisticated, high-touch services in an increasingly competitive landscape.
