US share shop Edward Jones plans UK launch

US high street share shop chain Edward Jones is to launch in the UK early next year. Its service will be aimed at consumers who do not have the high level of net worth demanded by stockbrokers.

The franchise chain has 3,300 offices in the US and over 50 offices in Canada. Customers can walk in and buy or sell shares, as well as the US-equivalent of unit trusts and tax-free bonds.

Full financial planning advice is given although, in the UK, consultants would not be empowered to give advice on pensions or life assurance products.

A spokeswoman for the company confirms Edward Jones is looking at the UK market. Industry sources say the company’s talks with marketing consultancies are advanced and that the UK launch is planned for early next year, with nine branches earmarked just outside the M25 area.

Most stockbrokers demand that an individual has a portfolio upwards of 150,000 to invest. The only way for lower net-worth people to buy and sell shares is through high street banks’ share shops, which do not give financial advice.

ProShare, an independent body set up to establish share-based investment, estimates that once all the building societies that are due to demutualise have done so, there will be 17 million private shareholders in the UK.

News Analysis, page 24

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here