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8-K - FORM 8-K - JONES FINANCIAL COMPANIES LLLP | d122182d8k.htm |
8-K - 8-K - JONES FINANCIAL COMPANIES LLLP | d122182d8k1.pdf |
Exhibit 99.1
Edward Jones Announces Record Results for Full-Year 2015
The Jones Financial Companies, L.L.L.P., including its principal operating subsidiary, Edward D. Jones & Co., L.P. (collectively, Edward Jones or the Firm), is pleased to announce its full-year 2015 results.
The Firm achieved record results for number of financial advisors, net revenue and net income before allocations to partners. The Firm strives to help serious, long-term investors achieve their financial goals by understanding their needs and implementing tailored solutions. By continuing to grow its number of financial advisors, the Firm is able to help a greater number of serious, long-term individual investors achieve their financial goals.
Edward Jones ended 2015 with 14,508 financial advisors, a gain of 508 compared to 2014. The Firm ended the year with $876 billion of client assets under care, an increase of $10 billion over 2014.
Net revenue in 2015 was $6.6 billion, 5% higher ($341 million) than 2014. Net revenue growth was driven by a strong increase in fee revenue. Fee revenue increased $383 million (10%) to $4.1 billion from $3.7 billion in 2014. The increase in fee revenue was primarily due to the continued investment of client assets into advisory programs. Net income before allocations to partners for 2015 was $838 million, a 9% ($68 million) increase over 2014.
Financial Highlights
(unaudited, $ in millions, unless otherwise noted)
As of December 31, | ||||||||||||||||
2015 | 2014 | Change | % Change | |||||||||||||
Financial Advisors |
14,508 | 14,000 | 508 | 4 | % | |||||||||||
Client Assets Under Care (billions) |
$ | 876 | $ | 866 | $ | 10 | 1 | % | ||||||||
For the years ended December 31, |
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2015 | 2014 | $ Change | % Change | |||||||||||||
Net Revenue |
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Fee Revenue |
$ | 4,089 | $ | 3,706 | $ | 383 | 10 | % | ||||||||
Trade Revenue |
2,425 | 2,460 | (35 | ) | 1 | % | ||||||||||
Other Revenue, net |
105 | 112 | (7 | ) | 6 | % | ||||||||||
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Total Net Revenue |
$ | 6,619 | $ | 6,278 | $ | 341 | 5 | % | ||||||||
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Net Income Before Allocations to Partners |
$ | 838 | $ | 770 | $ | 68 | 9 | % |