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Exhibit 99.1
Edward Jones Announces Strong Results for Full-Year 2016
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 2016 results.
The Firm achieved record results in number of financial advisors and client assets under care. 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 clients achieve their financial goals.
Edward Jones ended 2016 with 14,919 financial advisors, a gain of 411 compared to 2015. The Firm ended the year with a record $963 billion of client assets under care, a 10% increase over 2015.
Net revenue in 2016 was $6.6 billion, a 1% decrease compared to 2015, reflecting an 8% increase in fee revenue offset by an 18% decrease in trade revenue. Fee revenue increased to $4.4 billion in 2016 from $4.1 billion in 2015 primarily due to the increased investment of client assets into advisory programs with the launch of two new fee-based advisory programs in 2016 and increases in interest rates. Trade revenue decreased to $2.0 billion in 2016 from $2.4 billion in 2015 primarily due to fewer client dollars invested as a result of market uncertainties and industry changes as well as continued client investment in fee-based programs offered by the Firm. Net income before allocations to partners for 2016 was $746 million, an 11% decrease from 2015.
Financial Highlights
(unaudited, $ in millions, unless otherwise noted)
As of December 31, | ||||||||||||||||
2016 | 2015 | Change | % Change | |||||||||||||
Financial Advisors |
14,919 | 14,508 | 411 | 3 | % | |||||||||||
Client Assets Under Care (billions) |
$ | 963 | $ | 876 | $ | 87 | 10 | % | ||||||||
For the years ended December 31, |
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2016 | 2015 | $ Change | % Change | |||||||||||||
Net Revenue |
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Fee Revenue |
$ | 4,424 | $ | 4,089 | $ | 335 | 8 | % | ||||||||
Trade Revenue |
1,981 | 2,425 | (444 | ) | -18 | % | ||||||||||
Other Revenue, net |
152 | 105 | 47 | 45 | % | |||||||||||
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Total Net Revenue |
$ | 6,557 | $ | 6,619 | $ | (62 | ) | -1 | % | |||||||
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Net Income Before Allocations to Partners |
$ | 746 | $ | 838 | $ | (92 | ) | -11 | % | |||||||
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Jones Financial Companies Lllp.
Jones Financial Companies Lllp's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Jones Financial Companies Lllp provided additional information to their SEC Filing as exhibits
CIK: 815917
Form Type: 10-K Annual Report
Accession Number: 0001564590-17-004382
Submitted to the SEC: Wed Mar 15 2017 1:20:37 PM EST
Accepted by the SEC: Wed Mar 15 2017
Period: Saturday, December 31, 2016
Industry: Security Brokers Dealers And Flotation Companies