For the 19th time, Edward Jones ranked the highest in WealthManagement.com’s annual survey of the nation’s six largest financial services firms. The survey asks randomly selected financial advisers nationwide to rank their firms in various categories.
The average approval rating, 8.1 out of 10, shows that advisers are feeling better about where they work, with the satisfaction almost reaching pre-crisis levels.
This year is Edward Jones’ second year in a row to win top marks, followed by Raymond James. UBS and Wells Fargo tied for third, and Morgan Stanley received the lowest score. Morgan Stanley has placed last for the past four years, but its score improved this year.
Edward Jones scored a 9.5 out of 10 with top marks in all categories, earning high scores in ethics (9.8) and public image (9.7). Edward Jones advisers ranked the company significantly higher in its technology and training category than other advisers at ranked firms. That category included quality of technology, clarity and online access of client account statements and ongoing training.
"This honor is a testament to the enduring strength of our firm values, our trade-offs and our partnership," said managing partner Jim Weddle. "We are guided by a clear mission to serve the serious, long-term individual investor and to provide the best career-long opportunity for financial advisors who take pride in their work and appreciate the importance of the work we do."
Edward Jones, headquartered in St. Louis, ranked No. 8 on Fortune Magazine’s 2013 list of 100 Best Companies to Work For.
Just over 2,300 advisers responded to the survey, conducted between Oct. 7 and Nov. 7 online and in print.