As technology and client service methods evolve, the financial services industry is experiencing a great deal of transition. The pandemic accelerated these changes and highlighted the need for financial advisors to understand clients’ changing investment goals. Many experienced financial advisors are rethinking how to:
- Best serve their clients’ changing needs
- Continue to advance and grow their practice
- Achieve continued success in a changing environment.
Many experienced financial advisors are considering the best firm structure to achieve these objectives – and for those desiring more autonomy, that may mean exploring the independent model.
Finding the Right Balance
While going independent has its appeal, many experienced financial advisors come to realize that independence does not always provide their practice with the necessary support needed for long-term success. If you’re thinking about taking the leap to independence, you must not only consider impacts on your business objectives, but also the challenges (and even surprises) that come with operating in the model. For most, the optimal need is finding a unique balance of autonomy and home office support and structure.
Being Your Own Boss Can Be Costly
Although you can expect a much higher monthly payout when you operate in an independent business model, there are significant costs to consider before making a move, including:
- Office equipment and furniture
- Rent and utilities
- Support staff wages and benefits
- Marketing materials
- Licensing and fees
- Accounting and legal services
- Regulatory, field supervision, compliance
The Best of Both Worlds: Independence + Support
For financial advisors who have an entrepreneurial spirit but also want the security and support of a larger, established firm, Edward Jones may be the ideal choice. Financial advisors have a firm-provided office in a community of their choosing, a branch office administrator to help manage daily activities and access to resources to help build a successful practice. This robust offering enables financial advisors to continue building their practice and stay focused on serving clients. Additionally, Edward Jones offers the support of a national, full-service brokerage with a large suite of products and the technology today’s financial advisors need to attract prospective clients and deeply serve existing clients.
The Support You Need to Succeed
In addition to a firm-provided office and branch office administrator, more than 6,000 home office associates are there to support your success. A dedicated team will ensure a smooth process as you transition your practice and your clients will benefit from specialized home office resources, including:
- Client Consultation Group, which offers resources and expertise to meet the unique needs of your high net worth clients
- Edward Jones Trust Company adds a dedicated Portfolio Manager and Trust Officer to the client’s service team. A team of trust professionals can provide the depth and breadth of experience to meet even the most complex trust needs, working directly with the branch teams. Services include trust administration; beneficiary assistance; investment management; management of special assets like real estate, agriculture and oil/gas interests; and fiduciary tax reporting.
- Edward Jones Advisory Solutions® – one of the largest mutual fund advisory platforms in the industry
The Edward Jones Branch Team Business Model
Our unique branch team business model allows you to:
- Develop strong client relationships focused on their long-term financial goals
- Operate with autonomy, creating your own work/life balance
- Enjoy unlimited growth potential
- Offer your clients a full range of financial products
Experience a collaborative culture with the support of the wider Edward Jones network, including other local financial advisors.
A Personal Approach with Full-Service Resources
Edward Jones offices are designed to serve the financial needs of investors within their community. Our financial advisors build lasting relationships with their clients – based on a long-term investing strategy.
While the high level of service Edward Jones offers is personal, our investing expertise, technological know-how and full range of financial solutions give our financial advisors the ability to meet the most sophisticated investors’ needs.
Does the Edward Jones Difference Make It a Better Choice for Your Practice?
We believe so.
Unlike many financial organizations, Edward Jones purposefully remains a privately owned partnership. Without having to meet the short-term expectations of shareholders, Edward Jones can support its financial advisors in growing their practices.
It’s also important to consider that at Edward Jones, we have a single profit center: our financial advisors serving their clients. That means financial advisors have the freedom to recommend solutions based on clients’ needs, rather than product quotas. Simply put, clients come first.
As the industry continues to shift, the Edward Jones opportunity provides financial advisors with the freedom, flexibility and support needed to successfully build their practices by deeply serving their clients.
Learn more about taking your practice to the next level at Edward Jones.