Edward Jones announced Wednesday that it will launch its first private client services offering specifically designed to meet the needs of U.S. high net worth (HNW) clients who have a minimum of $10 million in investable assets.
Launching in the second quarter of 2025 to select clients, and expanding more broadly in 2026, Edward Jones Generations will offer expanded advice, planning, products and services to HNW clients, the firm said in a news release.
Generations is expected to provide the firm’s HNW clients with financial planning, investment management, more products and services, dedicated service and operations support, and an elevated experience. The program will provide clients with cash flow analysis, trust and estate considerations, philanthropic strategies and business owner planning.
The offering combines a team of home office professionals with tax and legal representatives from EY and Husch Blackwell to work with advisors and client support team members. The tax and estate planning services will include analysis, advice, estate planning and tax filing preparation.
“Our focus is on truly understanding our clients and what they value,” according to David Chubak, Head of U.S. Business Unit and Branch Development at Edward Jones.
“The high net worth space is not new to Edward Jones.”
– David Chubak
“The high net worth space is not new to Edward Jones,” he told WSR, noting the firm already offers estate and trust services through the Edward Jones Trust Company and serves HNW clients through its existing branch team model, often in partnership with its Client Consultation Group. Generations clients will have access to those offerings also, he said.
The Client Consultation Group provides high net worth clients with access to consultation capabilities and “support for episodic needs.” Specialized areas of support will include retirement income planning, tax-sensitive portfolio construction and business sale/succession considerations, it said.
“Now, however, we’re making significant investments in capabilities that will enable us to serve high net worth clients in new, specialized ways across multiple service models,” he told WSR. “In addition, we also are offering expanded advice, planning, products and services specific to their needs.”
“Across our country, there are millions of high net worth individuals – business owners, farmers and corporate executives, among others – with complex scenarios who could use our help,” said Chubak. “These high net worth families are the ‘millionaires next door’ who have achieved wealth well beyond their expectations and desire ways to preserve it for the benefit of their future generations and to leave a lasting impact on their communities.”
Although Generations is designed to serve HNW clients with a minimum of $10 million in investable assets for now, Chubak said that amount may “change as the offering evolves.”
Edward Jones plans to file its 10-K with the SEC on Friday and “will be sharing more information specific to our high net worth segment in an ADV being filed in May,” he noted.
“Our 9 million clients include high net worth individuals, and we know they have very unique needs,” he said in the news release. “Now, through Edward Jones Generations, we can serve these clients – and new clients – even more completely.”
“We’re offering clients more choices in how they work with us, based on their needs, while also giving our financial advisors and branch teams more choice and flexibility in how they build, grow and manage their practices,” Chubak explained in the news release. “We will continue to invest in solutions, products and services to better serve high net worth clients based on their specific needs, wants and wishes.”
The firm said that Generations clients will have access to an expanded network of third-party referrals for real estate transactions, specialty insurance, family governance, business owner succession and executive health screenings.”
“Being able to bring together a dedicated team of trusted professionals working collaboratively to meet clients’ needs is a game changer for Edward Jones and for our high net worth clients,” said Chris Wallen, a Financial Advisor in Scottsdale, Arizona, who has served at Edward Jones for 24 years, according to his LinkedIn profile.
“Through Edward Jones Generations, we’re able to uncover, understand and solve clients’ needs in an entirely new way, offering not just advice and guidance, but also expanded execution capabilities,” Wallen added.
Edward Jones said that, aside from Generations, it is also making strategic investments for HNW clients including alternative investments, such as private equity, private credit and private real estate; broader choice in separately managed accounts (SMA); proactive tax strategies and personalization at scale; philanthropic solutions; customizable cash management and lending options; and tools to manage concentrated equity positions.
Edward Jones had over 20,000 financial advisors serving more than 9 million clients with a total of $2.2 trillion in client assets as of Dec. 31, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
