Edward Jones, a leading brokerage firm, has recently enhanced accessibility to its exclusive Bridge Builder mutual funds, significantly lowering investment minimums.
Among the twelve Bridge Builder funds, nine are now accessible through Edward Jones' client-directed wrap fee program, Guided Solutions, reducing the minimum investment requirement to $5,000. This marks a significant shift from the previous arrangement, where these funds were exclusive to the Edward Jones Advisory Solutions program, necessitating a minimum account size of $25,000. The Advisory Solutions program caters to clients seeking to entrust Edward Jones with their daily investment decisions.
An Edward Jones spokesperson elaborated, "Our aim is to furnish clients with more options and versatility, facilitating smoother transitions between different investment platforms and enhancing overall client experience. This change enables clients to switch from Advisory Solutions to Guided Solutions with greater ease."
Both the Guided Solutions and Advisory Solutions programs involve an annual fee of 1.35% on assets under management, with tiered rate reductions applicable for larger asset volumes. Additional fees may be incurred.
The Bridge Builder funds collectively boast $130.94 billion in total assets and have experienced net inflows of $10.63 billion this year, per Morningstar data. Edward Jones attributes this success to its advisors' effectiveness in communicating the benefits of their Investment Advisory platforms.
In the previous year, Edward Jones expanded the Bridge Builder series to include tax-efficient funds, complementing its existing fixed income and equity-focused funds. The oldest among them, the Bridge Builder Core Bond Fund, initiated in 2013, offers a net expense ratio of 0.13%. The management of these funds is entrusted to various subadvisers, each responsible for a segment of the fund's assets.
Exclusively available through select Edward Jones advisory programs, the Bridge Builder funds play a pivotal role in reinforcing client and advisor loyalty within the firm. This development was first reported by the industry news outlet, AdvisorHub.
Edward Jones, headquartered in St. Louis, ranks among the nation's most prominent brokerage firms, boasting over 19,000 financial advisors and managing client assets surpassing $1.8 trillion. Historically known for its single-advisor branches in small towns and suburbs, the firm is evolving, now facilitating the formation of advisor teams. Furthering its commitment to comprehensive client service, Edward Jones recently announced a collaboration with Citi to extend banking services to its clients.
