Edward Jones ranked No. 2 on ‘Best Companies to Work For’ list

Published 3:05 pm Saturday, February 20, 2010

The financial-services firm Edward Jones ranked No. 2 on Fortune Magazine’s “100 Best Companies to Work For 2010” list. The company is in its 11th year on the ist, according to Joe Johnston, a financial adviser in Albert Lea. Edward Jones also ranked No. 1 for large-sized companies. The full list and related stories appeared in the Feb. 8 issue.

Edward Jones’ 11 Fortune rankings include top 10 finishes for eight years and consecutive No. 1 rankings in 2002 and 2003. This is the firm’s second consecutive year in the No. 2 spot.

In naming Edward Jones to the list, Fortune editors said: “The investment adviser weathered the recession without closing one of its 12,615 offices or laying off a single employee. Salaries were frozen, but profit sharing continued.”

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“This honor is especially gratifying in the face of the adversity and challenges the financial-services industry has faced the last two years,” said Johnston. “But we were able to stay focused on the long-term because we are a partnership and we know who we are and what we do. We had no layoffs. We had to make some difficult decisions in terms of cutting back expenses, which we did successfully. But when you respect the people who work here, you take care of them — not just in the good times, but in the difficult times as well.”

To pick the “100 Best Companies to Work For,” Fortune partners with the Great Place to Work Institute, a global research and consulting firm with offices in 30 countries, to conduct the most extensive employee survey in corporate America. Two-thirds of a company’s score is based on the survey, sent to randomly selected employees. The survey asks questions related to employees’ attitudes about the management’s credibility, job satisfaction and camaraderie. The remaining third is based on a company’s responses to the Institute’s Culture Audit questionnaire, which asks detailed questions about demographics, pay and benefits, and open-ended questions about hiring, communication and diversity.

Currently, Edward Jones has more than 600 positions available throughout the country. The largest positions open are that of financial adviser and branch office administrator. Each Edward Jones branch office includes one financial adviser and one branch office administrator who work one on one with clients in the communities where those clients live.

The Fortune ranking is one of several important honors based on associate input that Edward Jones has received in recent weeks. In early December, the firm was ranked No. 1 in Registered Rep. magazine’s annual brokerage report card for the 17th consecutive year. Last month, Edward Jones ranked No. 10 among the “50 Best Employers in Canada” in the Globe and Mail’s annual listing in Report on Business Magazine. Over the past year, Edward Jones also has received workplace recognitions from dozens of state publications in the U.S.

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm’s 12,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals — from college savings to retirement — and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy.

Edward Jones is headquartered in St. Louis. The Edward Jones Web site is located at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com.