The Success of Trader Edward D. Jones – Edward D. Jones was born on July 29, 1893 and died on October 10, 1982. He was an investment banker living in St. Louis, Missouri. His mother, Georgia, died shortly after his birth. His father, Eli, worked in Central and South America. In his childhood Jones lived with various family members because his father was away for work.
His family moved frequently, starting from Chattanooga, Panama and Bellefontaine. He graduated from Bellefontaine, Ohio High School in 1913, then continued on to New York University in 1916. Edward Jones graduated from New York University in 1916 and served two and a half years in the Army. US Marines during World War I. He began his financial services career as a bond salesman in New York City, the Woolworth Building, early in his career.
Jones had also worked at NW Halsy & Company New York which sent him to Ohio to set up a brokerage house. In 1920, Jones then worked at Blair & Company in St. Louis. Jones left Blair & Company due to a dispute over the sale proceeds.
Then he founded Edward D. Jones and Company in St. Louis in 1922. Yet around the 1920s, the American economy was in turmoil. There were a lot of big troubles that year, and finally the news of the “Wall Street Accident” came in October 1929. During this pioneering period, many investment companies went out of business. People lost jobs, wealth and hope, but Edward Jones was different. He is an optimist.
In 1923, Edward Jones married to Ursula Griesedieck. They have four children, Ann, David, Martha, and Edward D. “Ted” Jones. His marriage to Ursula brought him more than the responsibilities of marriage. When his father-in-law died around 1945, Jones was appointed president and chairman of the board of the company owned by the Ursula family. So he had to divide his time, working at Edward Jones & Co in the morning and at Griesedieck in the afternoon. But eventually he sold the Stag Beer assets of the Ursula family company in 1954.
When he retired, Jones handed over the company to his son. Despite having handed over the management of Edward D. Jones & Co to his son, Ted, in 1968, he continues to be involved in the company on a daily basis. In fact, since the company’s founding, Jones insisted on being the first person to come into the office every day until his death in 1982 at the age of 89. By that time, the Edward D. Jones & Co. company had grown to 495 branches in 33 countries.