Edward Jones is looking to capitalize on growing demand in Americas fourth largest city as it plans to add 54 advisors in Houston by years end.
The city is set to play a big role in the firms so-called 20/20 plan to boost its headcount from approximately 13,000 advisors to 20,000 advisors by 2020, according to Edward Jones talent acquisition manager Eva Coutermarsh who oversees recruiting in Houston and the Dallas-Fort Worth area. After hiring 94 last year, the firm currently has around 200 advisors in the area, but that is not enough to meet demand, she said.
If you take a look at the amount of people coming in as well as well as the amount of growth, there is a lot of opportunity for financial advisors, Coutermarsh said. We realize there are a lot of the type of investors out there that are a great fit for Edward Jones and we dont have enough financial advisors to service them all.
Edward Jones is banking on an existing pool of prospects in addition to a number of companies and retirees moving to the area. According to Coutermarsh, the firm will be uniquely positioned to serve those clients because it will serve a range of investors from core affluent to mass affluent as well as high net worth whereas a number of wealth management firms in the area focus on the high net worth and ultra-high net worth, she said.
To build out its ranks, Edward Jones will target attorneys and accountants or other professionals looking for a career change as well as existing advisors in the marketplace.
Part of the initiative as well is actually going after or attracting advisors from other firms and were starting to see more advisors from wirehouses and regionals taking a look at us, Coutermarsh noted.
According to Coutermarsh, Edward Jones is also eyeing recruiting opportunities in other major metropolitan areas around the country, such as Phoenix, New York, Boston, and Chicago as it aims to reach its 2020 goal.