New analysis shows nearly 6,000 advisors left since 2021, with senior departures rising sharply
A new industry analysis shows advisor departures from Edward Jones climbed sharply in 2025, driven increasingly by experienced brokers rather than the early-career attrition that historically characterized movement from the firm.
Nearly 6,000 advisors left Edward Jones between 2021 and 2025, according to a report by Muriel Consulting using AdvizorPro data. Of those departures, about 55% joined another firm while 45% left the industry entirely.
The pace of exits accelerated last year, having hovered near 1,000 annually for several years. Advisor departures jumped to 1,458 in 2025, marking the highest level during the five-year period and a 35% increase from 2024.
The data suggests a shift in who is leaving the St. Louis-based firm. Earlier in the decade, most departures were concentrated among newer advisors still building their practices. By contrast, long-tenured advisors are now accounting for a growing share of exits.
In 2021, advisors with at least 10 years at the firm represented 21% of departures. By 2025, that figure had climbed to 35%. The number of senior advisors leaving rose from 246 in 2021 to 503 last year.
“Late-career exits reflect a different kind of choice,” the report said, noting that advisors with longer tenure “have already built durable practices” and tend to make more deliberate decisions about their next step.
Early-career churn remains high
However, the study also highlights the persistent challenge of early-career attrition in wealth management.
From 2021 through 2025, nearly 2,000 Edward Jones advisors with less than three years of tenure left the firm. Slightly more than half joined another firm, while the rest exited the financial advisory space altogether.
High turnover among rookie advisors is not unique to Edward Jones. Industry research cited in the report indicates that roughly 71% of new advisors leave the profession within their first five years.
Some commentary gathered from public forums suggests frustration among clients and advisors when accounts are repeatedly reassigned to new brokers. One client quoted in the report wrote:
“So far they did not even alert me that they were putting me with a different advisor and literally just reassigned me in the app with no notice. I'm a bit surprised and also annoyed so definitely making a move somewhere else.”
Where advisors go after leaving
Advisors who continued their careers after departing Edward Jones dispersed widely across the industry, joining 630 different firms during the five-year period.
Still, most transitions clustered among a small group of large firms. LPL Financial attracted the most former Edward Jones advisors with 529 recruits, followed by Ameriprise Financial with 363 and Raymond James Financial Services Advisors with 280.
Independent broker-dealers dominated the list of destinations, reflecting a key structural difference from the Edward Jones model. The report points to ownership of client relationships and practices — often referred to as “book ownership” — as a major factor drawing advisors to new platforms.
The report stops short of assigning definitive reasons for advisor movement, but it points to several changes at Edward Jones that may be shaping career decisions.
In recent years, the firm has expanded financial planning capabilities, emphasized professional credentialing and introduced new team-based operating models. At the same time, broader organizational changes — including adjustments to the home office structure — have coincided with the period studied.
Meanwhile, Edward Jones has sought to strengthen retention among senior advisors through initiatives such as a partnership program designed to give advisors an economic stake in the firm.
Industry implications
The report suggests the evolving mix of advisor departures could create recruiting opportunities across the industry.
Experienced advisors retiring or leaving the business may create openings for competitors to capture relationships in communities historically dominated by Edward Jones, while early-career advisors who leave the firm could fill talent gaps elsewhere.
Ultimately, the report frames advisor departures not as impulsive decisions but strategic ones.
“Advisor movement out of Edward Jones is not random, reactionary, or driven by short-term dissatisfaction,” the report said. “Advisors who leave are making a considered judgment that a different model will better serve their clients and better align with how they want to work.”
WP has contacted Edward Jones for comment.
