Building a successful high net worth practice with support from Edward Jones

Q&A with Tom Lewandowski, principal and high net worth (HNW) segment leader

David’s intro: There’s a strong opportunity right now for financial advisors to grow their practices by servicing more high net worth clients. At Edward Jones, we’ve committed to serving affluent clients more deeply, offering new products and expanded investment options, and enhanced training to help financial advisors seeking to serve more individuals and families with complex financial needs.

I recently sat down with Tom Lewandowski, principal and leader of our HNW client segment, to discuss what he’s seeing in the market and how financial advisors can better attract and serve these clients.

David: Tom, we know there is opportunity for our financial advisors in this space. Can you share – at very high level – your take on that?

Tom: The private wealth market continues to grow, driven in large part by the Great Wealth Transfer (GWT). Our research shows affluent clients are twice as likely as others to discuss transferring wealth — representing an estimated $84.4 trillion in assets moving to younger generations through 2045.

David: As financial advisors navigate this shift, what’s most important for them to keep in mind?

Tom: My advice is to keep the focus firmly on the family. It’s important for families to have open and ongoing discussions about inheritance and estate considerations. The money matters, of course, but so do family values, philanthropy, stewardship and leaving a legacy. Communication is key, and our financial advisors can support that open dialogue.

David: Are we seeing clients within this segment that are particularly in need of advice and guidance?

Tom: Absolutely. We’re finding that families who have generational wealth face challenges but have more experience navigating the complexity. On the other hand, first generation affluent investors, such as successful business owners, find themselves navigating things like estate and tax issues for the first time. They tend to need help managing the personal side of wealth along with the financial aspects.

David: Can you take us through some of the initiatives Edward Jones has undertaken to meet the evolving needs of these clients?

Tom: We’re constantly evolving to meet clients’ needs. We’ve invested significantly to be able to offer clients access to sophisticated financial planning and investment management, a wider array of products and services, dedicated service and operations support, and an elevated experience through Edward Jones Generations®.

David: We recently announced the opening of Generations hubs. Can you tell me a little more about those spaces?

Tom: Yes, absolutely! Generations hubs are warm and inviting spaces that capture the essence of the firm’s 103-year legacy, with the modern sophistication and personalization of Edward Jones Generations. The spaces cater to our affluent clients, offering a high-level of personalization and a comfortable place to gather to discuss long-term planning goals, share stories and celebrate milestones. The first hub opened in Scottsdale this summer, and we’ll be opening additional hubs in St. Louis, MO, West Palm Beach, FL, and Dallas, Texas, through early 2026.

David: And we’ve expanded our product shelf. Tell me more about that.

Tom: You’re right, David. We’ve added products and solutions to help clients diversify their portfolios, optimize their taxes and support philanthropic goals. Recently, this includes:

• Exchange funds, which can facilitate tax-efficient diversification for investors with significant wealth in concentrated positions
• Automated managed transitions to support multi-year migration to more optimal portfolios in a systematic, tax-smart manner
• Expansion of alternative investments, including more managers and strategies in private markets
• Increased number of separately managed accounts (SMAs)
• A private Donor Advised Fund designed for significant philanthropic contributions

David: We have really expanded our capabilities. How are we supporting our financial advisors who serve this segment?

Tom: We want to make sure we provide our practice teams with the resources they need to be successful in serving their clients. Soon, we’ll be launching a program designed to help selected financial advisors manage and grow their practices, while also increasing their acumen in advanced planning and complex investment products. What makes the overall program so valuable is the combination of hands-on training, turnkey materials, coaching and external resources.

We also offer workshops at the branch level to help our financial advisors and teams understand and capitalize on the market opportunities, develop a growth strategy and use the new tools.

David: We’ve covered a lot today. What would you say are the most important takeaways from our conversation?

Tom: First, we are working every day to help our financial advisors build, maintain and strengthen relationships with clients, offering them an innovative set of solutions, an enhanced experience and practice management support, including training and resources. But I also want to reiterate that our financial advisors must first be trusted advisors. We know—and our clients have told us—that these relationships are so important. That is, and always will be, what differentiates us.

David: Thanks for joining me and sharing these important developments and insights. This focus and training will make a big difference for financial advisors as they look to better serve more clients with complex financial needs.

If you’re interested in learning more about how Edward Jones financial advisors support clients with significant assets and complex financial needs, visit our Careers page for more information.