Edward Jones has expanded its separately managed account (SMA) offerings by adding 51 new strategies, bringing its total to around 120 as part of a broader effort to modernize and attract wealthier clients. 

These SMAs, overseen by third-party asset managers, offer financial advisors more flexibility and personalization options, with plans to grow the lineup to 300 by year-end. Roughly 8,800 of the firm’s 20,280 brokers currently use SMAs, which appeal to higher-net-worth clients due to benefits like tax efficiency and tailored portfolios. 

While Edward Jones doesn’t disclose specific SMA asset figures, about $860 billion of its $2.16 trillion in assets are held in advisory accounts. Edward Jones also introduced a proprietary SMA program last fall and continues to lower barriers for entry as SMA minimums become more accessible to a broader client base.

Finsum: These SMA offerings could be a game changer in the wealth management space.