"We have to celebrate the history. As Edward Jones gets larger, we have to teach the history because it's the foundation for our culture." -Jim Weddle
Edward D. Jones Sr. establishes Edward D. Jones & Co., determined that his company will treat associates as partners in the business and treat clients fairly by offering appropriate, quality investments. The firm’s offices open in downtown St. Louis, the heart of the city’s financial district. The office consisted of a single room furnished with a desk, three chairs and a hatrack. In time, the firm expanded into a second room and a bank of telephones.
Ted returned to St. Louis after working in New York as an apprentice at Josephthal & Co., a correspondent firm of Edward Jones. Ted started work as the 18th broker, based in the tiny St. Louis suburb of Clayton, but after a few months he moved to Montgomery City, Mo, where he set up shop over the hardware store and began his career selling securities from the trunk of his car. Ted would regularly drive 150 miles a day. He visited such towns as Hillsboro, Warrenton, Moberly, Mexico, Bowling Green, Fayette, Fulton, Hannibal, Macon, Louisville and Kirksville. Clients in these communities proved to be the foundation of the firm's growth over three decades.
The firm’s first branch office opens in Mexico, Mo. The branch was the office of Warren "Zeke" McIntyre, a pillar of the community and the 21st broker at Edward Jones. Ted was introduced to Zeke by a client and good friend, Frank Kister, founder and president of the Savings and Loan Association in the town of Mexico.
Ted Jones becomes the firm's second managing partner. Ted Jones believed in service. He also believed that Edward Jones should be owned by its associates, giving them a personal stake in the firm's success and allowing them to pay attention to service rather than to stakeholders.
Ted Jones realizes his dream of opening 300 offices and names John Bachmann as the firm’s next managing partner.
John Bachmann persuades management authority Peter Drucker to consult on the firm’s expansion plans. Under Drucker’s encouragement, Edward Jones aggressively targets metropolitan areas for expansion of its branch-office network.
The firm celebrates the opening of its 1,000th office, located in Stoughton, Wis. John Bachmann is elected chairman of the Securities Industry Association. Jim Weddle is named to the firm's Management Committee.
Edward Jones begins planning for expansion into Canada.
Ted Jones passes away on Oct. 3.
Doug Hill becomes the firm’s fourth managing partner.
Jim Weddle becomes the firm’s fifth managing partner.