Newspaper article THE JOURNAL RECORD

Edward Jones & Co. Plans Expansion in Next 4 Years

Newspaper article THE JOURNAL RECORD

Edward Jones & Co. Plans Expansion in Next 4 Years

Article excerpt

NEW YORK (AP) -- Edward Jones & Co., the St. Louis-based brokerage firm with an office in Oklahoma City, plans to more than double its number of offices in the United States to 10,000 over the next four years in an effort to keep its competitive edge in the consolidating financial services industry.

Edward Jones also plans to expand internationally. The company plans to open 115 offices in Canada, and an additional 60 in the United Kingdom this year.

"We are gearing up to become a much larger firm," John W. Bachmann, president of Edward Jones, said in an interview. "Our rate of growth is the same as it has been for 20 years, but the numbers themselves have become much more noticeable." The company, however, has no plans of going public, he said. Edward Jones, formerly known as Edward D. Jones, has 4,570 offices in the United States serving 3 million customers. But unlike its competitors such as Merrill Lynch and PaineWebber, which open large offices in major cities, Edward Jones has an army of one-broker offices in small towns throughout the country. …

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