NEW YORK, UNITED STATES – Financial advisor and wealth strategist firm Edward Jones recently confirmed contracting the services of India-based firms after years of offshoring speculations.
Edward Jones’s spokesperson admitted that they’ve been outsourcing to Hyderabad and Bangalore since late 2021 to support its digital and operations functions. He added, however, that none of their contractors are client- or branch-facing.
According to Investment News, this move follows a reduction in home-office staff due to a company-wide restructuring in 2025, which “included layoffs and voluntary separation buyouts” that affected over 800 staff. From its latest Form 10-K filing, Edward Jones went from 9,393 to 8,971 by the end of 2025, equivalent to 4.5% decrease in headcount.
Yet despite the staff cuts, the firm expanded its base of advisors to 20,425 in 2025, about 1.5% more than the previous year. It also ranked highest in JD Power’s 2026 U.S. Investor Satisfaction Study, indicating that it delivers “consistent, high-quality service and support” to clients.
The firm also acknowledged how “these third parties enable certain critical business operations, including outsourcing services which had previously been performed by the Partnership, such as tools that support the branch team’s interactions with clients and enhance client experiences” in its Form 10-K filing.
However, “the offshoring is one piece of a larger story of change at Edward Jones,” Shelby Nicholl of Muriel Consulting wrote to Investment News. According to the consulting firm’s report, 1,458 advisors left Edward Jones in 2025, 35% more than in 2024. “Advisors comment on outside leadership (meaning newcomers to the firm), difficult technology rollouts, and the home office layoffs in 2025 as other factors leading to exiting Edward Jones.”
