Edward Jones has set a goal of $1.25 billion to offer limited partners in the coming year, alongside its launch of a new limited partnership structure.
The plan to raise nearly $1.3 billion marks the largest capital raise in the firm’s history, according to Wealth Management. The new adviser structure will allow limited partners to own a majority stake, which is relatively unique for companies of its scale.
General partners currently manage operations, with limited partners earning 7.5 percent on their capital contribution. These partners will now be classified as “Class A” partners. A “Class B” partnership will offer payouts reliant on the firm’s performance.
Read more details
