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Welcome to AdvisorTrends, the podcast for financial advisors navigating career transitions and seeking the best fit in the world of broker-dealers. Today, we're diving into a question many advisors face at some point in their careers: “When is the right time to leave Edward Jones?” We’ll explore the common reasons advisors consider making a move, the challenges they face in doing so, and how to ensure a smooth transition when the time is right.
Recently, a Reddit post from an Edward Jones advisor caught a lot of attention. This advisor has been with Edward Jones for six years, manages a $70 million book, and has a trailing 12-month gross of $500,000. They were recently offered a very attractive package from another firm—a significant cash bonus, partnership shares, and a 70% payout. But with a young family depending on them, they’re cautious about making a big leap. Their main question was: “Is there ever a right time to leave Edward Jones?”
To answer that question, let’s explore some of the pain points that many Edward Jones advisors experience, and why they might be motivated to look for opportunities elsewhere.
One of the most common frustrations is limited independence and flexibility. Edward Jones provides a strong structure, but for advisors who want to offer their clients a more customized service model or access to a broader range of investment options, this can feel restrictive. When advisors feel they can’t tailor their offerings to meet unique client needs, they may feel like they’re leaving potential opportunities on the table.
Another major factor is compensation. Edward Jones offers a steady income structure, but it doesn’t always allow top producers to fully maximize their earning potential. Many advisors find that alternative broker-dealers provide higher payout percentages, equity options, and greater financial upside—especially for those who are generating substantial revenue. For advisors generating $500,000 or more in annual gross revenue, a move to a model with a higher payout can lead to a significant increase in annual income.
Beyond compensation, there’s the issue of control over client data and operational processes. At Edward Jones, advisors often feel like they don’t fully “own” their client relationships. Control over data, decisions around client servicing, and even day-to-day business operations can be more limited than many advisors would like. This can restrict growth, as it’s challenging to scale and customize client services without full autonomy.
Succession planning and legacy building are also concerns for advisors at Edward Jones. Advisors who have spent years building their business may start thinking about the future—whether they want to pass their book of business on to a successor or make it a lasting legacy. Without clear paths to equity or ownership, some feel they’re building a business for the firm, rather than creating a lasting legacy for themselves and their families.
Now, let’s shift to the opportunities that exist outside of Edward Jones. Many advisors who move to other firms or to an independent model discover more flexibility in crafting client solutions. They can build portfolios or service models specifically tailored to their clients’ needs, which leads to deeper relationships and, often, greater client retention.
For many high-producing advisors, the prospect of a higher payout structure and equity opportunities is particularly appealing. Firms that offer payouts of 70% or more, along with partnership shares or equity, provide an income model that grows as advisors succeed. Over time, these models create the potential for wealth accumulation that goes beyond annual compensation.
A move away from Edward Jones can also provide more ownership over client relationships...
https://3xequity.com/blog/when-is-the-right-time-to-leave-edward-jones
