5 Edward Jones alternatives: what are my options?
Discover trusted financial services alternatives to Edward Jones that provide solid investment advice and wealth management strategies to individuals and small businesses in the US.
Summary
Edward Jones is a full-service financial firm offering a range of investment services throughout the United States.
Edward Jones hires over 19,000 professional financial advisors and manages over $1.8 trillion worth of assets globally.
The firm has a number of leading competitors, including Charles Schwab Wealth Management, Morgan Stanley, Merrill Lynch and Fidelity Investments.
Unbiased can find an expert financial advisor who can help you with your wealth management needs.
Who is Edward Jones?
Founded in 1922, Edward Jones is a full-service broker offering investment services to clients in the United States and Canada. The firm currently has more than 15,000 physical locations and hires over 19,000 financial advisors.
As of Q2 2023, it serves more than 8 million clients and manages more than $1.8 trillion in global assets.
| Company | Founded | Headquarters | Assets Under Management |
|---|---|---|---|
| Company | Founded | Headquarters | Assets Under Management |
| Edward Jones | 1922 | St. Louis, MO | $2 trillion |
| Fidelity Investments | 1946 | Boston, MA | $14.1 trillion |
| Morgan Stanley | 1935 | NYC, NY | $1.19 trillion |
| BlackRock | 1988 | NYC, NY | $10.5 trillion |
| Charles Schwab | 1971 | Westlake, TX | $7.38 trillion |
| Merrill Lynch | 1914 | NYC, NY | $2.75 trillion |
Edward Jones is a subsidiary of The Jones Financial Companies, L.L.L.P., which services individual investors and business owners. In 2022, it posted revenue of $12.3 billion and a net income of $1.404 billion.
Who are Edward Jones’ competitors?
There are several key Edward Jones competitors in the financial advisory sector.
The leading competitors currently include Charles Schwab Wealth Management, Fidelity Investments, Morgan Stanley, BlackRock, and Merrill Lynch.
1. Fidelity Investments
Fidelity Investments is a US-based multinational financial services firm offering a range of brokerage services, as well as a large spread of mutual funds, providing investment advice fund distribution, and supplying index funds, retirement services, wealth management, and life insurance.
Assets under management:
$14.1 trillion
Fee structure:
Fee-only & fee-based
Fee:
0.2%-1.5%
Minimum account sizes:
$50,000
The private firm, founded in 1946, is considered Edward Jones's biggest competitor. It is based in Boston, Massachusetts, and operates more than 140 additional locations across the United States.
As of June 2024, it had more than $5.4 trillion in assets under management and $14.1 trillion in assets under administration. Fidelity currently specializes in mutual funds, brokerage services, and benefits outsourcing.
2. Morgan Stanley
Morgan Stanley is a US-based, Fortune 500-ranking multinational financial services company and investment bank that services a wide range of clients, from individuals and institutions to corporations and even governments.
Assets under management:
$1.19 trillion
Fee:
Annual advisory fees up to 2%, with additional platform and manager fees.
Fee structure:
Percentage of AUM, fixed fees for specific services, and commissions.
Minimum account sizes:
$5 million for Private Wealth clients; $5,000 for Access Investing.
The public firm was founded in 1935 and has offices in over 41 countries worldwide, including headquarters at the Morgan Stanley Building in New York City.
Morgan Stanley reported $54.1 billion in revenue in 2023 and total assets of $1.19 trillion.
This Edward Jones competitor specializes in investment banking, sales and trading, wealth management, prime brokerage, and providing mutual, exchange-traded, and index funds.
3. BlackRock
BlackRock Inc. is a US-based multinational investment firm and the largest asset manager in the world, with more than $10 trillion in assets under management as of Q4 2023.
Assets under management:
$10.5 trillion
Fee:
0.09%-2.50%
Fee structure:
Fee-based
Minimum account sizes:
$250,000 to $1 million
Founded in 1988, this public firm is headquartered in Midtown Manhattan, New York City. It has 78 offices in over 38 countries and clients in 100 nations worldwide.
The firm posted revenue of $17.86 billion in 2023 and total assets of $123.2 billion. It's a good Edward Jones alternative as its specialties include corporate investment portfolio management through its Aladdin software and financial risk management services delivered via the BlackRock Solutions division.
4. Charles Schwab
Based in the US, Charles Schwab Corporation provides multinational financial services, such as banking, commercial banking and investing, to both institutional and retail clients.
Assets under management:
$7.38 trillion
Fee:
0.80% and decrease at higher asset levels
Fee structure:
Fee-based
Minimum account sizes:
$500,000
Founded in 1971, the public firm is headquartered in Westlake, Texas and has more than 380 branches, primarily in the United States and the United Kingdom.
As of Q4 2023, Charles Schwab was managing over $8.5 trillion in client assets and 34.8 million active brokerage accounts and posted revenue of $18.84 billion in 2023.
This alternative to Edward Jones specializes in offering a range of personal and commercial banking and investment services, donor-advised funds, retirement planning services, and wealth management services.
5. Merrill Lynch
Merrill Lynch is an American wealth and investment management division of the Bank of America, offering services such as investment banking, securities, prime brokerage, and broker-dealer services to its clients worldwide.
Assets under management (AUM):
$2.75 trillion.
Fee:
Advisor fees up to 1.75%, with 0.45%-0.85% for guided investing.
Fee structure:
Percentage of assets managed, fixed rates for advisory accounts, and tiered rates for managed strategies.
Minimum account sizes:
Varies by service, with benefits starting at $20,000.
The private firm was founded in 1914 and is headquartered in New York City. Its locations employ more than 14,000 financial advisors and manage more than $3.4 trillion in its Global Wealth and Investment Management operations.
Through its Merrill Edge division, Merrill Lynch offers standard and private wealth management services, guided investing and call center consultancy.
Get expert financial advice
If you are looking for Edward Jones alternatives to meet your unique investment and financial management needs, options like Charles Schwab Wealth Management, Fidelity Investments, Morgan Stanley, BlackRock, and Merrill Lynch are all strong potential options,
Let Unbiased match you with an expert financial advisor who can help you manage your money and meet your goals.
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