Edward Jones opened its first Halifax-based multi-advisor branch on Wednesday, building on its strategy of establishing multi-advisor locations.
The full-service investment dealer is increasingly taking a team approach, expanding from its typical single-advisor offices, run by an advisor and office administrator, to multi-advisor offices with two to six advisor-administrator teams. The shift arose in part as more client meetings occurred virtually.
The Halifax office launch follows a similar launch in Fredericton earlier this autumn.
In Canada, Edward Jones has 871 advisors, a release said, and the goal is to reach 1,000 advisors in 2030.
The Halifax office is home to financial advisors Adrienne Power and Chris Keefe — two of eight Edward Jones advisors in the Halifax area.
The new branch is looking to recruit an additional advisor, Power said in an interview, and she noted the industry push to increase the proportion of women advisors.
“We would love to attract an experienced woman in wealth,” Power said. “Or maybe a career changer.”
Power, who has been with Edward Jones for nearly six years, is a former Olympian sprinter who specialized in 200-metre sprints.
As an athlete, “you have to face a lot of adversity,” she said, and she credited her coaches at all levels and the wider community for their support over the years.
Regarding clients, she said she tends to attract other “high performers in the community,” such as entrepreneurs.
Edward Jones has about $62 billion in client assets in Canada, a spokesperson said in an email, and serves more than 190,000 Canadian families. The firm previously told Investment Executive it aims for $100 billion in assets in Canada by 2030.