A giant broker-dealer is quintupling its proprietary mutual fund lineup this year.

In fall 2013 Edward Jones launched its first proprietary mutual fund, the Bridge Builder Bond Fund, and pulled in a whopping $2.8 billion into the fund in October 2013 alone. Then in December 2014 the St. Louis-based B-D unveiled plans to launch four more mutual funds, all subadvised equity strategies using the same Bridge Builder brand, by mid-2015. Then this week Edward Jones asked the SEC for a little more time to launch the new funds.

It's all thanks to the growth of Edward Jones' now-$128-billion Advisory Solutions program. Bruce Kelly of InvestmentNews highlighted the planned funds, which will be advised by Edward Jones affiliate Olive Street Investment Advisers and subadvised by three to five shops each. Baird, J.P. Morgan, and Pru subadvise the Edward Jones bond fund.

Edward Jones supports about 12,000 financial advisors. 

Edited by: Neil Anderson, Managing Editor


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