McGraths increase limited partner holdings with financial services firm

Mike McGrath, an Edward Jones financial advisor in Anna, and Millie McGrath, a senior branch office administrator, have accepted invitations to increase their limited partner holdings in The Jones Financial Cos., the holding company for the St. Louis-based financial services firm.

Mike joined Edward Jones in 1986 and has served investors in Union County for the past 25 years.

In addition, he is active in several local groups, including the Union County Chamber of Commerce and St. Mary’s Church in Anna.

Edward Jones currently employs more than 40,000 associates in all 50 states and through its affiliate in Canada.

Under the current partnership offering, 16,000 associates received initial limited partnership offerings or were invited to increase their existing ownership in the firm.

Millie joined Edward Jones in 1992. “I am thrilled to receive this invitation,” she said.

“I’ve always enjoyed my job, it’s both challenging and rewarding, but being an owner in the firm is really exciting.”

James D. Weddle, the firm’s managing partner, said, “Edward Jones is employee-owned. We believe one of the best ways to reward outstanding associates is to offer them an opportunity to share in the ownership of the firm they help build. I’m pleased to say that these associates certainly deserve the limited partnership offering.”

The Jones Financial Cos. was created in 1987 to enable the firm to expand into new business areas while allowing it to remain a partnership.

The Jones Financial Cos. owns Edward D. Jones & Co., LP, which operates under the trade name Edward Jones, EDJ Leasing Co., the Edward Jones Trust Co., and its international financial services subsidiary, Edward Jones Canada.

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada.