Edward Jones Accelerates Team-Based Model Amidst Advisor Evolution
Event summary
- Edward Jones is promoting a team-based model for financial advisors, launched in 2024.
- Over 4,300 advisors (roughly 20% of the total) have adopted new practice models, with 500+ actively participating in teams.
- Troy Nelson, a Bismarck, ND-based advisor, is highlighted as a success story and featured in 'The Masters List' by SHOOK Research and Forbes.
- Nelson has consistently ranked among Forbes’ Top 250 Wealth Advisors (2021-2025), reaching #100 in 2025 and ranking #1 in North Dakota.
The big picture
Edward Jones' shift towards team-based models represents a strategic response to the increasing complexity of client needs and a broader trend within wealth management towards specialization and collaborative service delivery. With $2.5 trillion in AUM, Edward Jones’ ability to adapt its advisor model is critical to maintaining its market position and competing with both independent advisors and larger, technology-driven firms. The reliance on external rankings like Forbes’ ‘Masters List’ also highlights the importance of reputation management in attracting both clients and advisors.
What we're watching
- Advisor Adoption
- The pace of advisor adoption of team-based models will indicate the effectiveness of Edward Jones’ strategy in attracting and retaining talent, particularly as client needs become more complex.
- Client Impact
- Whether the team-based approach demonstrably improves client outcomes and satisfaction, beyond simply increasing advisor productivity, will be crucial for long-term success.
- Model Sustainability
- The long-term financial sustainability of the team-based model, considering compensation structures and potential for advisor attrition, warrants close monitoring.
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