Edward Jones is looking to expand its manager due diligence team with three new hires as it opens up a presence in Tempe, Arizona.
The broker-dealer plans to add two recruits in its fixed income team; an analyst and associate analyst, as well as one in its equity group; an analyst who will specialize in balanced funds.
The fixed income analysts will report to Adam Thomson, who leads fixed income due diligence at Edward Jones, while the balanced fund analyst would report to Bart Miller, who is team leader for US Large Cap research.
All three roles are available either at Edward Jones’s St Louis, Missouri headquarters or its offices in Tempe.
Until June of this year the firm had no research presence in Tempe, despite having around 1,000 associates based there. It has since added two: Miller and equity analyst Andy Pusateri.
Miller said the firm planned to grow the number of research analysts in Tempe, to around six over the next three years. He said offering research jobs in the city allowed the firm to expand its possible talent pool and meant the group had a presence in the firm’s second largest office.
Earlier this month Citywire reported that two Edward Jones analysts, Enzo Egidi and David Pham, had joined Wells Fargo as part of the wirehouse’s plans to expand its manager research team with 11 new recruits.
The Edward Jones due diligence team is headed by principal for mutual fund research Matt Embleton. The team of 25 builds and maintains a list of around 700 strategies used by some 14,000 advisors. The list contains around 80 separately managed accounts, 60 ETFs, with the rest made up of mutual funds, run by a combined 200 asset management firms.
To find out more about how Embleton and his team select managers, read our profile here.