Edward Jones 10-Q: Tech Spend up 25-30%
- 1 day ago
- 1 min read
The Jones Financial Companies, L.L.L.P. (2026, August 7). Form 10-Q for the quarterly period ended June 26, 2026. U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/815917/000119312526339455/ck0000815917-20260626.htm
Communications and data processing expense increased 29% in the second quarter to $356 million and 24% in the first half to $673 million, which the Partnership attributes to continued investments in new tools and technology and related higher depreciation expense.
Purchases of fixed assets totaled $304 million for the six months ended June 26, 2026, and net fixed assets rose to $1,852 million from $1,759 million at December 31, 2025.
Advisory programs assets under care reached $1,198 billion at period end, a 29% increase year over year, compared with 15% growth in total client assets under care to $2,647 billion.
Net new assets were $18 billion in the second quarter and $36 billion in the first half, each 6% above the prior year period.
Financial advisors increased 1% to 20,514 at period end while physical branches declined 3% to 14,671 and home office associates declined 7% to 8,808.
Net revenue increased 18% to $5,002 million in the second quarter and 15% to $9,679 million in the first half, producing income before allocations margins of 12.0% and 11.7% that the Partnership describes as a strategic balance between investing in the future and current financial results.