Edward Jones Expanding to Big Cities

St. Louis references in the news. Oh yeah, don't forget our favorite "Top Lists."
Fascinating developments at Edward Jones.... The Wall Street Journal is reporting that it has recognized that it cannot reach its growth targets unless it expands to the big cities. Here is the Bus Journal write-up of the WSJ subscription only article:

"After nearly a century focusing on small-town markets, Edward Jones is expanding in Boston, Chicago, San Francisco and other urban areas.

The brokerage firm is shifting its focus to the big city as more young adults are opting for the city life, the Wall Street Journal reports.

To prepare for the move into urban markets, the firm is overhauling its training program to de-emphasize door-to-door introductions, which have been a hallmark of its strategy in small towns. Instead it will focus on networking and using technology to make connections.

"Our advisers have to figure out a way to make a connection with the next generation of wealth that may not exist in middle-market America," John Rahal, who directs the company's adviser recruitment, told the Wall Street Journal.

Edward Jones has set a goal of increasing its adviser force by 50 percent in the next six years, but to achieve this goal, it must look beyond its traditional markets, the newspaper reports. A recent U.S. census report showed that nearly 60 percent of rural counties shrank in population last year."

My advice to the company would be to open up significant downtown operations so that it can understand the urban environment.
Hopefully this means they'll open up a decent sized office in downtown ..