Edward Jones brokerages plans to add 120 bay area offices over next 10 years

Edward Jones plans to more than double its size here, adding more than 120 financial service branches in the bay area in the next 10 years, including up to 75 in Hillsborough and Pinellas counties, the brokerage firm said Monday.

Kenny Locke, an Edward Jones partner and regional leader for the Tampa Bay area, said the expansion of what is traditionally single-advisor offices is being fueled by demographics.

"As baby boomers reach retirement age, they're going to need our services," he said. "We have really as a firm targeted five to six markets in the country, with Florida being one of them."

Amid industry consolidation in the past few years, Edward Jones grew by 9 percent in 2009 and has been flat so far this year, Locke said. He projected growing 8 to 10 percent in the region annually.

The firm currently has about 70 offices in a territory stretching from St. Petersburg north to Crystal River and east to Bartow.