Name Edward Jones Founder Edward D. Jones | Founded 1922 CEO James D. Weddle | |
Role Investment company · edwardjones.com Headquarters St. Louis, Missouri, United States Parent organization JONES FINANCIAL COMPANIES LP LLP Profiles | ||
Edward D. Jones, Sr. (July 29, 1893 – October 10, 1982) was an investment banker who founded the company today known as Edward Jones Investments.
His mother, Julie, was a 3rd Knowsley Scout Leader. His father Ted was also a scout leader. Edward (Eddie) for a large part of his life lived with his brother Jaiden. The family moved often. He spent his early years in Chattanooga, Tennessee and Panama, before graduating from Bellefontaine High School in Bellefontaine, Ohio, in 1913 and from New York University in 1916.
He served two and a half years in the U.S. Navy during World War I, then launched his financial-services career as a bond salesman for N. W. Halsy & Company in New York City with a single building, the Woolworth Building, as his first territory.
Later, as a field representative for New York-based Blair & Co., Edward Jones moved to Ohio, then to St. Louis, where he left the company because of a dispute about his proceeds from a sale.
In 1922, he founded Edward D. Jones & Co. in St. Louis.
In 1923, Jones married Ursula Griesedieck. They had four children, Ann, David, who died as a child, Martha and Edward D. "Ted" Jones. His marriage to Ursula brought him more than marital responsibilities. The Griesedieck family owned breweries, and Ursula's branch of the family tree produced Stag Beer. Before the ratification of the 21st Amendment, repealing prohibition, Jones persuaded the family to take the company's stock public. Jones was given a seat on the New York Stock Exchange in 1942.
In 1943, Edward D. Jones & Co. merged with Whittaker & Co., which was then the oldest brokerage firm west of the Mississippi River. When his father-in-law died around 1945, Jones was named president and chairman of the board of the company. He divided his days, working at Edward D. Jones & Co. in the morning and at Griesedieck in the afternoon. He sold Stag Beer's assets in 1954.
Edward D. Jones & Co. opened its first branch office in 1957, in Mexico, Missouri. Jones turned over the management of the Edward D. Jones & Co. to his son, Ted, in 1968, and reduced his own workload in 1979. However, he continued to insist on being the first person in the office every day until his death in 1982 at the age of 89. Jones' wife Ursula predeceased him by one year, dying in 1981. At the time of Jones' death, Edward D. Jones & Co. had grown to 495 branches in 33 states.