Privately held Edward Jones hews to a different strategy than the rest of the industry, and its comp plan diverges from industry trends in important ways.
Structured as a partnership, compensation at the St. Louis-based wealth management firm is based on advisor production and firm profitability. In particular, the firm uses a profit-sharing bonus to motivate its 12,000 advisors, one fourth of whom are partners. Partners receive the bonus, which is based on both branch and overall firm profitability; typically the firm assigns one advisor per branch.
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