Jones Financial Companies LLLP (JNFC) 8-K The Jones Financial Companies, L.L.L.P. Announces 2024 Results and Recent Business Developments

Exhibit 99.1

The Jones Financial Companies, L.L.L.P. Announces 2024 Results and Recent Business Developments

The Jones Financial Companies, L.L.L.P., together with its consolidated subsidiaries (collectively, the "Partnership" or the "firm"), including its principal operating subsidiary in the United States ("U.S."), Edward D. Jones & Co., L.P. ("Edward Jones"), is pleased to highlight its 2024 results and recent business developments.

In 2024, the Partnership marked 50 years since its first limited partnership offering and the opportunity for associates to become owners of the firm. Additionally, the Partnership reached several significant milestones and notable successes, including:

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Grew to over 20,000 financial advisors in more than 16,000 North American branches, meeting the increasing client demand for advice

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Achieved a new firm record with assets under care ("AUC") of $2.2 trillion

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Surpassed 9 million clients served in the U.S. and Canada as of the end of 2024

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Implemented Salesforce in all U.S. branches, marking a significant milestone towards delivering a new, efficient and feature rich branch management system

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More than doubled the annual goal for client relationships added to MoneyGuide in the U.S., which enhances financial advisors' ability to deliver goals-based advice and financial planning services

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As of the end of 2024 in the U.S., had more colleagues with the Certified Financial Planner (CFP®) designation than any other firm in the industry, as well as more Financial Paraplanner Qualified Professionals (FPQP®)

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Introduced financial planning services, helping the Partnership continue to meet increasing client demands

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Invested in the colleague experience to ensure it is an employer of choice by creating an environment where colleagues feel valued, respected, and heard

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Focused on building the capabilities of its branch teams by offering targeted skill building and providing ongoing training, leadership, development, and professional designations opportunities

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Expanded practice models by scaling multi-financial advisor offices, financial advisor teaming in the U.S. and client support roles, such as Associate Financial Advisor and Registered Branch Associate in the U.S., that give our financial advisors greater autonomy, flexibility and choice in how they serve clients

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Expanded access to Financial Advisor Managed Solutions, an advisory program where clients delegate investment discretion to eligible financial advisors, creating more client choice and branch efficiency

This growth enables the Partnership to serve even more clients and communities more completely by creating greater access to financial planning and advice. The Partnership remains focused on investing in new tools and technology; an expanded set of products and solutions; and newer practice models.

The Partnership ended the year with 20,125 financial advisors, representing an increase of 893 compared to the end of the prior year, and branches in over two thirds of U.S. counties and most Canadian provinces and territories. Client support teammates increased 2% to 20,222 at the end of 2024. Financial advisor attrition was 5.0% at the end of 2024.

The Partnership ended the year with a 13% increase in client AUC to $2.2 trillion, reflecting increases in the market value of client assets as well as the cumulative impact of net new assets gathered during the year. Net new assets of $74 billion decreased 24% compared to 2023 from higher asset outflows with ongoing macroeconomic conditions, including inflation and the higher costs of lending.

Net revenue increased 16% to $16 billion in 2024 compared to 2023, primarily due to increases in fee and trade revenue. The increase in fee revenue was primarily due to increases in advisory programs with higher average market levels and the increase in client dollars invested in advisory programs. Trade revenue increased primarily due to higher overall margins earned.

Exhibit 99.1

Operating expenses increased 15% to $14 billion in 2024 compared to 2023, primarily due to increases in financial advisor compensation and benefits expense and variable compensation. Financial advisor compensation increased due to an increase in revenues on which commissions are earned. Variable compensation increased due to increased branch and overall Partnership profitability.

Income before allocations to partners increased 23% to $1.98 billion in 2024 compared to 2023. Income before allocations to partners margin was 12.2%, reflecting strong current financial results while continuing to invest in the future.

Financial Highlights
(unaudited, $ in millions, unless otherwise noted)
	December 31,
	2024			2023			$ Change			% Change
Financial Advisors (at year end)		20,125			19,232			893			5	%
Attrition %		5.0	%		4.7	%		0.3	%		6	%
Client Support Teammates (at year end)		20,222			19,786			436			2	%
Client AUC (at year end) (billions)	$	2,171		$	1,919		$	252			13	%
Net New Assets for the Year (billions)		74			97			(23	)		-24	%
Net New Households(1)		246,000			203,000			43,000			21	%
Income Before Allocations to Partners Margin		12.2	%		11.4	%		2.4	%		21	%
	For the years ended December 31,
	2024			2023			$ Change			% Change
Revenue:
Fee Revenue	$	13,163		$	11,264			1,899			17	%
Trade Revenue		1,760			1,482			278		19		%
Interest, Dividends and Other Revenue		1,334			1,334			—			—
Total Revenue		16,257			14,080			2,177			15	%
Interest Expense		253			282			(29	)		-10	%
Total Net Revenue		16,004			13,798			2,206			16	%
Total Operating Expenses		14,023			12,186			1,837			15	%
Net Income Before Allocations to Partners	$	1,981		$	1,612		$	369			23	%

(1) Net new households represents new client households opened less client households closed during the period, rounded to the nearest thousand. The current period metric is estimated based on available information.