Edward David Jones Sr. (July 29, 1893 – October 10, 1982) was an investment banker who founded the company today known as Edward Jones Investments.
Early life and education
Edward David Jones was born on July 29, 1893, in St. Louis, Missouri. His mother died in childbirth and his father, Ely, worked in Central and South America as a train engineer leaving Jones with his aunts and uncles. The family moved often and he spent his early years in Chattanooga, Tennessee, and Panama. When his father remarried, they relocated to Bellefontaine, Ohio, where he graduated from Bellefontaine High School in 1913. then launched his financial-services career as a bond salesman for N. W. Halsy & Company in New York City with a single building, the Woolworth Building, as his first territory.
On April 19, 1923, Jones married Ursula Griesedieck. They had four children, Ann, David, who died as a child, Martha and Edward D. "Ted" Jones. Ursula's family owned breweries including Stag Beer. Before the ratification of the 21st Amendment, repealing prohibition, Jones persuaded the family to take the company's stock public.
Edward D. Jones & Co.
In 1922, he founded Edward D. Jones & Co. in St. Louis as a conventional brokerage house.
In 1942, Jones paid $21,000 plus $4,000 in transfer fees for a seat on the New York Stock Exchange. Jones turned over the management of the Edward D. Jones & Co. to his son, Ted, in 1968, and reduced his own workload in 1979.