Skip to Main Content
SUBMIT A TIP RECEIVE DAILY NEWS
Menu AdvisorHub
  • News
      • Latest News
          • Brendan Biruk, Leslie Crilley and Dan Rattigan (left to right) of Washington Crossing Financial Group.LPL Reels in UBS Pennsylvania Team with $245 Million Book
          • Ralph Hamers, CEO of UBS Group AGUBS Wealth Americas Profit Hits Record with Fewer Brokers
          • DealsHightower Takes Stake in $830 Million New York RIA
          • Business DealCI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion
        • Close
      • Advisor Moves
          • Brendan Biruk, Leslie Crilley and Dan Rattigan (left to right) of Washington Crossing Financial Group.LPL Reels in UBS Pennsylvania Team with $245 Million Book
          • Boca Raton, FloridaRockefeller Lures Two Florida Teams with $9.8 Mln Revenue
          • Morgan Stanley, UBS Advisor movesMorgan Stanley Rehires $3.3-Mln UBS Team in North Carolina
          • Lars Olson of Sanctuary Wealth Partners in Marion, OHSanctuary Hires $435-Mln Merrill Team, Snowden Lures Another from Retirement
        • Close
      • Enforcement
          • Advisor MoneyWells Fargo Recoups $2.5 Million from New Jersey Duo
          • Businessman in prison, fraudWells Fargo Claws Back $3 Million from Jailed Ex-Broker
          • Finra signFinra Fines, Supends Ex-Ameriprise Broker Who Flipped ‘A’ Shares
          • Barred from the securities industry.SEC Puts Nail in Ex-Morgan Stanley Broker’s Career Coffin
        • Close
      • Markets
        • `Nothing Safer Than Cash’: Tech Rout Puts Silicon Valley on Edge
        • ‘Any News Is Bad News’ as Earnings Fail to Save Equity Bulls
        • ‘50 Cent’ Profited From Volatility Jump, Wells Fargo Says
        • ‘Beaten Down’ ETF Is a Way to Play Inverted Curve, BofA Says
        • Close
      • Opinion
          • Opinion-How-Will-The-Coronavirus-Affect-The-Stock-Market-Opinion: Coronavirus – What Advisors Need to Know
          • opinion-investors-conquered-fees-next-up-is-their-own-behaviorOpinion: Investors Conquered Fees but Not Their Own Behavior
          • Investor-Confidence-In-Stocks-Rightly-Declines-Opinion-772x485Investor Confidence in Stocks Rightly Declines: Opinion
          • Opinion-Schwabs-Zero-Commission-Decision-Challenges-Its-Ria-ClientsOpinion: Schwab’s Zero Commission Decision Challenges Its RIA Clients
        • Close
      • Fintech News
          • System outageMerrill Systems Hiccuped on Thursday as Stocks Slid
          • 7 dollar rolls‘The Rock’ Invests in Finance App Acorns, and New Users Get $7
          • TraderHigh-Frequency Traders Love Business With Robinhood
          • EtheriumJay Z, Charles Schwab-Backed Ethereum App Opens Doors to Public
        • Close
      • From the Publisher
          • 2021 PredictionsFrom the Publisher: Sirianni’s Predictions for 2021
          • Josh Rogers – 772×485Seven Questions with Tony Sirianni: Josh Rogers, Founder and CEO, Arete Wealth
          • Phil Hildebrandt — 772×485Seven Questions with Tony Sirianni: Phil Hildebrandt, Principal, CEO of Segall Bryant & Hamill
          • Christian Hyldahl, President of Varium Investment Partners-772×485An AdvisorHub Interview with Christian Hyldahl, President of Varium Investment Partners
          • John Peluso – 772×485Timely interview with John Peluso and AdvisorHub CEO Tony Sirianni
          • Louis Dworsky Coronacrash Interview-772×485Coronacrash Update: Hayden Royal’s Louis Dworsky & Tony Sirianni
          • Stratos_Jeff pic.jpg-772×485Coronacrash Update: Stratos Wealth Partners’ Jeff Concepcion & Tony Sirianni
          • coronacrash ben harrison – 772×485Coronacrash Update: BNY Mellon | Pershing’s Ben Harrison & Tony Sirianni
        • Close
    • Close
  • Deals & Comp
  • Recruiting Wire
  • Breakaway Center
  • Resources
    • resources-home-menuResources Home
    • PRACTICE MANAGEMENT RESOURCESPractice Management Resources
    • Transition ResourcesTransition Resources
    • Fintech ResourcesFintech Resources
    • menu fintechFintech Product Directory
    • Menu-Institute-772×485Institute
    • Boutique Wealth AdvisorsBoutique
    • EventsEvents
    • Asset Manager Hub
    • Close
  • AdvisorHub TV
  • Podcasts
  • RIA Center
  • Virtual Summit
close X
June 24, 2020

Edward Jones to Reopen “Home Offices” to Some Employees

by Vicky Ge Huang
|
Coronacrash, News
|
Edward Jones
|
No Comments
Share This
SUBMIT A TIP
Edward Jones to Reopen “Home Offices” to Some Employees

Edward Jones & Co. will begin opening its three “headquarters” buildings in the U.S. and Canada to some of the 6,500 corporate employees who support its 19,000 brokers in the coming weeks, but it will be many months before work routines return to normal, an executive said.

“It’s gonna be a long time before we have 100% of our folks working five days a week, as we were before all of this,” managing partner Penny Pennington said Tuesday on a Milken Institute webcast titled “Lessons Learned: Mitigating the Next Crisis.”

In a sign of the complexities large companies face in determining how to phase in reopenings amid the ebbs and flows of the Covid-19 pandemic, Jones expects 5% to 10% of home-office employees to return in the “next month or so,” rising to, perhaps, one-third late this year, Pennington said.

One of the three home regional offices is based in Tempe, AZ, a state where virus diagnoses have been rising. The governors of New York, New Jersey and Connecticut on Wednesday said they will require residents from Arizona and eight other western and southern states to quarantine themselves for 14 days before crossing into their borders.

Jones also has two headquarters buildings in Saint Louis and one in Mississauga, Ontario for its Candian operations.

The retail brokerage firm, whose advisors work from about 15,000 primarily two-person offices, has permitted most of the locations to stay open but has restricted clients and prospects from meeting face-to-face with brokers since the outbreak of Covid-19 in March. Jones earlier this month began permitting client visits in selected regions, by appointment only, to sign paperwork and review accounts. Fewer than half of the branch offices are currently open to clients, and none to prospects.

“We are still taking a cautious and phased approach,” said Alex Reed, a Jones spokesman. “Once a branch office is eligible to reopen to the public, it is still ultimately up to that branch team in that office to decide if that is the appropriate decision for them and their community.”

The regions that have opened to clients include offices in all or parts of more than a dozen states, including California, Florida, Hawaii, Missouri, Texas, Tennessee, Vermont and Washington State, he said.

In her remarks on Tuesday, Pennington said reopening decisions are data-driven on a community-by-community basis.

“We’re working with public health officials, we’re listening to the CDC [Centers for Disease Control and Prevention],” she said. “We’re listening to the needs of our colleagues, those who are anxious about opening the branch to the clients, for whom this is working really really well.”

Jones’ physical presence in 2,000 of the United States’ 3,000 counties and all ten Canadian provinces gives it a strong understanding “on the frontlines” of the variable economic and behavioral effects of the pandemic, she said.

“It has been disparate across North America, and has really helped us bring in the resources, the empathy, the understanding and the expertise that our financial advisors needed to bring to their clients,” she said.

Like many companies, Jones has imposed travel restrictions on corporate employees, and, more idiosyncratically, has frozen wages, suspended overtime pay for client associates and halted hiring of non-broker personnel out of concern about falling revenue.

Like this article? Let AdvisorHub come to you!  Sign up

Share This
No Comments

Leave a Reply Cancel reply

Tony Sirianni Podcast Banner

CORONACRASH NEWS

  • Finra Scrutinizes Brokers Who Took PPP Loans for Potential Violations

    Finra Scrutinizes Brokers Who Took PPP Loans for Potential Violations

    Jan 25, 2021
  • Merrill Touts Success of Growth Strategy in Pandemic-Afflicted Year

    Merrill Touts Success of Growth Strategy in Pandemic-Afflicted Year

    Jan 19, 2021
  • Raymond James Slashes CEO Pay 17% in Turbulent Year

    Raymond James Slashes CEO Pay 17% in Turbulent Year

    Jan 8, 2021
  • Solomon Sees Vaccine Bringing Goldman Staff Back by End of Year

    Solomon Sees Vaccine Bringing Goldman Staff Back by End of Year

    Jan 5, 2021
  • J.P. Morgan Bank Broker Cleared of Coronavirus Crash Claim

    J.P. Morgan Bank Broker Cleared of Coronavirus Crash Claim

    Dec 4, 2020

NEWS

  • LPL Reels in UBS Pennsylvania Team with $245 Million Book

    LPL Reels in UBS Pennsylvania Team with $245 Million Book

    Jan 26, 2021
  • UBS Wealth Americas Profit Hits Record with Fewer Brokers

    UBS Wealth Americas Profit Hits Record with Fewer Brokers

    Jan 26, 2021
  • Hightower Takes Stake in $830 Million New York RIA

    Hightower Takes Stake in $830 Million New York RIA

    Jan 26, 2021
  • CI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion

    CI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion

    Jan 25, 2021
  • Finra Bars Ex-Merrill Broker Kenahan After Record NH Settlement

    Finra Bars Ex-Merrill Broker Kenahan After Record NH Settlement

    Jan 25, 2021

FINANCIAL INDUSTRY PODCASTS

AllIndependenceSuccess
The must listen-to podcast for financial advisors by Tony Sirianni. Guests to include:
-Ron Kruszewski
-Shirl Penney
-Penny Pennington
-Eric Clarke
and many more
Michael Kitces and Carl Richards discuss financial advising topics.
Suzanne Siracuse asks the questions nobody else asks, as influencers and interviewer collide in her new and truly unique podcast series The Big Reveal.
The “new advice value stack,” and how firms can use it to help maximize their own value propositions for their clients.
The Brighthouse Financial Insights Panel is a group of leading, independent experts providing powerful insights into the big challenges facing you and your clients.
Equipping independent financial advisors with the tips, insights, and knowledge needed to evolve in every aspect of his or her life
Powering Independence Podcast, insights and ideas for RIAs, presented by Dynasty Financial Partners. A podcast dedicated to presenting fresh ideas and best practices for the wealth management industry.
As an industry expert, Frank LaRosa provides guidance and advice on a host of topics from recruiting and transitions, succession planning, practice management, M&A and more.
Our goal is to unlock the challenges to reveal the opportunities and what it means to provide advice in the 21st century.
Our webcast is dedicated to helping our viewers get real insights by avoiding the cognitive dissonance of today’s media outlets and biased editorial filters.
Go behind the scenes with registered investment advisors and other related independent business model experts
As a nationally recognized recruiter and consultant to financial advisors, Mindy Diamond has unmatched experience in introducing advisors to the independent space.
The must listen-to podcast for investors, venture capitalists and financial advisors, with Tony Sirianni and Paul Dietrich.
An Introduction to Independence: 5 Key Episodes to Jumpstart Your Knowledgebase
Jay is an investment strategist, CERTIFIED FINANCIAL PLANNER™ and business consultant to financial advisors.
In this podcast business owners, entrepreneurs and executives reveal their top tips for success.
We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people’s lives.
A financial literacy and commentary show that features a number of investors, financial experts, professional athletes, business owners and more.
Join Sound Financial Group CEO Paul Adams and President Cory Shepherd every week, as they help you Design and Build a Good Life™.
The Kuderna Podcast, focusing on wealth in it's original meaning- a state of well being.
Timeless wisdom, actionable information you can use right now to make smarter investment decisions.
Made for and dedicated to those folks serious about their financial plan.
Latest News 
Advisor Moves 
Enforcement 
Opinion 
  • About Us
  • Contact Us
  • Advertise
  • Events
  • Careers

 get our newsletter

Industry focused content and breaking news.

SIGN UP

Contact Us

EMAIL US
1707 Post Oak Blvd.
#484
Houston, TX 77056

© 2021 AdvisorHub
  • |Terms of Use
  • |Privacy Policy
  • |Advertise
  • |Careers
  • Facebook
  • Linkedin
  • Twitter

Back to top