Edward Jones reports 30 percent gain in profit
Edward Jones reported a 30 percent increase in income before allocations to its partners last year, a total of $508 million.
In a regular report to government regulators, the brokerage firm said its net revenue was up 17 percent to $4.07 billion, largely due to an increase in investments by customers. The company reports income before allocations to partners rather than net income.
In the report, the company said its chief executive, James D. Weddle, earned $10.78 million, including $10.52 million in income allocated to him as a partner. His salary was $250,000. His total pay was up 15 percent from 2006.
Other top partners and their earnings were:
•Steven Novik, chief financial officer, $8.08 million, up 10 percent
•Gary D cheap payday loans. Reamey, general partner for Canadian operations, $9.66 million, up 13 percent
•Norman Eaker, general partner for operations, service, information systems and human resources, $8.61 million, up 17 percent
•Brett Campbell, general partner for products, services and marketing, $7.90 million, up 24 percent.
Jones said it added 914 financial advisers last year, ending with 11,202, up 9 percent from the level at the end of 2006.
jerristroud@post-dispatch.com
314-340-8384
Filed under: legal by Specialist