Thread regarding Edward Jones layoffs

It's not just expensive, it's a way to better police the advisors. Having another advisor in the office allows for a much kinder transition for clients and a harder move for the departing advisor.

@23e "RC taking of RL BOA"

Just checking my understanding:

"Regional coordinator will take over regional BOA duties?"

Is my understanding correct? If so, this has already started in my region.

Yes, home office IS in talking about FA/CST ratios in the field. It is part of 2026 business plans. This will be done mostly by merging offices and having 1 CST per 3 FAs. They are still trying to figure out the plan and how roll it out - but this is the same model competitors have. The goal by 2030 to eliminate the 1 BOA/1 FA office because it is the biggest cost being paid out for both real estate and number of CSTs in the field. Hence the new AFA at home office supporting numerous branches, RC taking over RL BOA work, etc... Also, a rule of 70 report came out on FAs as well... so be pre pared for FAs that meet the Rule of 70 to have differing offers to move on from Edward Jones.

I've heard many, many more branch consolidations are coming. The one FA office is too expensive to maintain. This has been in the works for some time. Branch teaming will be the new normal with far, far fewer BOAs. The writing has been on the wall for a while now if you've been paying attention. People need to understand this is not the same firm.

@1c4 the branches are very tuned in to what's happened in St. Louis and many people are upset. I and other BOAs have also heard talk about branch consolidation so when I saw that earlier reply from the BOA who was let go, my radar turned on. Plus I'm an "older woman;" I turn 59 soon.

@19m I think they were just trying to make sure they did not identify themselves. Senior leadership monitors these sites. In trying times like these you can never be too careful. This is what happens when leadership undercuts people. Associates have to be careful and trust is broken and anxiety is at a high. Try not to take it personal. Remember, Penny is doing this to everyone. She is the enemy, not your fellow associate.

@194 "nice try?" I'm being honest. I'm a senior BOA in Michigan. I'm not trying to trick anyone. I was legitimately wanting to know where this person was located who was let go because I've heard rumors about branch consolidation and I would like to know where it's happening. Sorry you felt the need to be snarky. Just forget it, then.

@18v Nice try. We are not taking the bait. You are going to have to figure out who we are another way.

@aa where was your location? I'm a senior BOA in the Midwest

I've heard of a few BOA/CSTs let go in the last few months . All older women.

@cx So much for transparency! Has anyone heard if they are planning on offering VSP or ISP to CSTs or just good old fashioned layoffs, no continuation of benefits?

@cw just to add on, it's weird that these things are being discussed openly on the home office, but branches don't seem to know. Odd way to run a company.

I don't know any numbers, but the model of 1 FA & 1 BOA in an office is ending. This is the game plan.

• Put multiple FAs in one office
• Have 1 BOA doing all the work
• Replace senior BOAs with new BOAs (Seniors BOAs will realize the bullsh-t that is being pulled, doing 2-3x the work for the same pay. New ones will just go along with it).

@OP I am a BOA / CSTM recently given marching orders. My branch is merging with another and they said they didn't have room for my position. This is not true, but the new soon to be "one-book team" took it as an opportunity to get rid of me - a tenured Sr BOA - and decided to keep the recently hired BOA of 6 months.

I don't think it's wide spread, but if anyone is talking merging books, it is a red flag. Start looking or change to another branch is my advice.