The financial services industry in St. Louis includes a diverse array of local, regional and national firms supported by a highly educated and trained workforce.
The St. Louis area is home to more than 7,600 business establishments in the financial activities industry. These businesses employ more than 81,000 people. St. Louis-based Wells Fargo Advisors is the third largest full-service provider of retail brokerage services in the country with $1.4 trillion in retail client assets, 15,000 financial advisors and 5,300 employees in the region.
Edward Jones is an investment company boasting more than 11,000 branch offices globally and more than 12,000 financial advisors in the U.S. and Canada. The firm has revenues of $6.6 billion and employs more than 6,000 Greater St. Louis. In 2017, the firm exceeded $1 trillion in client assets, and completed an expansion in St. Louis County by constructing a $245 million training facility with a 225,000-sq. ft. state of the art auditorium at their headquarters.
Stifel Financial is a full-service brokerage and investment banking firm founded in St. Louis in 1890 with revenues of $3 billion. Stifel Bank & Trust is now the largest bank in St. Louis. The firm began a bold expansion plan in 2005 acquiring numerous regional firms across the U.S. Stifel has more than 1,100 associates in Greater St. Louis.
TD Ameritrade, one of the largest discount, online brokerages, has a large service center in Greater St. Louis with more than 500 employees.
These firms are supported by a large, well-educated and trained financial services workforce. Business and financial occupations employed 77,210 people, or 5.6% of area employment, compared to 5.1% in the U.S. Business and financial wages in Greater St. Louis average $74,050, 97% of U.S. averages.