Edward Jones reported another strong quarter on Friday, boasting of growth in both its advisor headcount and its bottom line.
The St. Louis-based financial services giant, which operates in both the United States and Canada, revealed the new numbers in its latest 10-Q form filed with the SEC. The firm’s total net revenue for the second quarter of 2023 was $3.37 billion, a 12% increase from the same time last year.
The company also saw modest gains in its roster of financial advisors. In the second quarter, Edward Jones added 42 advisors, bringing its total headcount to 18,892 — up 0.7% from the second quarter of 2022.
“This intentional and strategic growth allows the firm to continue on its journey of serving clients more completely through deep personal relationships and comprehensive planning and advice,” the firm said in a statement.
So far, 2023 has been a good year for Edward Jones. In the first quarter, the firm also saw double-digit revenue growth and a similarly moderate uptick in its advisor headcount. That marked a turnaround from the previous two years, when Edward Jones was bleeding both profits and advisors.
For a closer look at Edward Jones’ Q2 earnings, scroll through the slideshow below. For a look at its earnings last quarter, click here. And to see how the firm did in the second quarter of 2022, click here.