Firms compared · Updated October 10, 2026
Edward Jones vs. Raymond James: Partnership vs. public multichannel firm
The short answer
Edward Jones is larger, reporting more than 20,000 advisors and about $2.6 trillion in client assets at June 30, 2026, compared with 9,076 advisors at Raymond James as of March 31, 2026, and $1.86 trillion in Private Client Group assets under administration at June 30, 2026. Edward Jones is a private partnership whose advisors are employees and can become limited partners; Raymond James is publicly traded and offers employee, independent contractor, bank and RIA custody channels. The reported pay figures aren't comparable: Edward Jones advisors generally receive 36% to 40% of firm revenue from their clients, per a 2022 disclosure, while RJFS independents receive an 81% to 90% grid payout before their own branch expenses.
Regional & bank
- Financial advisors · Jun 2026
- more than 20,0001
- Client assets under care · Jun 2026
- about $2.6 trillion1
- Financial advisors (year-end, per 10-K) · Dec 2025
- 20,42511
- Ownership
- Private partnership owned by its partners4
- Parent company
- The Jones Financial Companies, L.L.L.P.4
- Partnership change
- New Class B limited partnership interest of about $1.25 billion announced November 2025, later raised to about $1.4 billion11
How advisors affiliate
- Employee advisor
- Partnership
Full Edward Jones profile and news →Regional & bank
- Financial advisors · Mar 2026
- 9,0762
- Private Client Group assets under administration · Jun 2026
- $1.86 trillion3
- Total client assets under administration (firmwide) · Jun 2026
- $1.92 trillion3
- Headquarters
- St. Petersburg, Fla.3
- Ownership
- Public (NYSE: RJF)3
How advisors affiliate
- Employee advisor
- Independent contractor (RJFS)
- Bank and credit union channel (Financial Institutions Division)
- RIA-only custody and services (RIA & Custody Services)
Full Raymond James profile and news →Key differences
- Size: Edward Jones reported more than 20,000 advisors and about $2.6 trillion in client assets at June 30, 2026. Raymond James reported 9,076 advisors at March 31, 2026, and $1.86 trillion in Private Client Group assets under administration at June 30, 2026.1,2,3
- Ownership: Edward Jones is a private partnership owned through The Jones Financial Companies, L.L.L.P. Raymond James is public (NYSE: RJF).3,4
- Affiliation models: Edward Jones advisors are employees, typically running a branch office. Raymond James offers employee advisors at Raymond James & Associates, independent contractors at RJFS, a bank and credit union channel and RIA custody.5,6,7
- Payout: An Edward Jones disclosure dated July 2022 says advisors generally receive 36% to 40% of firm revenue from client accounts. Raymond James's AdvisorChoice brochure, as posted in October 2026, lists 81% to 90% for RJFS independent contractors, who pay their own overhead.5,6
- Transition deals: Edward Jones's careers site, as of October 2026, describes a package of at least two times trailing-12-month production paid over two years with no forgivable loans. Raymond James carried $1.77 billion in net loans to advisors, used for recruiting and retention, at Dec. 31, 2025.8,9
- Equity: Edward Jones advisors can become limited partners; existing limited partners earn a fixed 7.5% return on capital, and a new Class B interest ties distributions more closely to firm profitability.10
Which pays advisors more, Edward Jones or Raymond James?
The figures aren't comparable. Edward Jones employee advisors generally receive 36% to 40% of the revenue the firm earns from their clients, per a July 2022 disclosure. Raymond James's RJFS independent contractors receive an 81% to 90% payout based on branch production, but they cover their own overhead. Raymond James's employee-channel grid isn't in our profile.
Is Edward Jones bigger than Raymond James?
Yes. Edward Jones reported more than 20,000 advisors and about $2.6 trillion in client assets at June 30, 2026. Raymond James reported 9,076 advisors at March 31, 2026, and $1.92 trillion in firmwide client assets under administration at June 30, 2026.
Can I be independent at Edward Jones?
Edward Jones advisors are employees. Raymond James offers an independent contractor channel through Raymond James Financial Services alongside its employee channel.
What transition deals do Edward Jones and Raymond James offer?
Edward Jones's careers site describes at least two times trailing-12-month production paid over two years, with no forgivable loans, for qualifying advisors. Raymond James's profile doesn't list a deal percentage, but its net advisor loans stood at $1.77 billion at Dec. 31, 2025.
Built only from each firm’s sourced Financial ADVSR profile; figures carry their own as-of dates and may measure different things at each firm. Not investment or career advice. Spot an error? Tell the editors.