Edward Jones has been named the No. 1 full-service broker by SmartMoney Magazine

"Across-the-board strength vaults Edward Jones into first place," according to the magazine. "The St. Louis-based firm ranks first in three survey categories this year: stock picking, brokerage statement and customer satisfaction."

The magazine lauded Edward Jones for growing the number of financial advisers - up more than 500 since last year - to meet investor needs.

The firm has consistently been ranked highly in the SmartMoney survey as No. 2 in 2009 and 2008 and No. 1 in 2007 and 2005.

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work, a company news release said.

The firm's 12,000-plus financial advisers work directly with nearly 7 million clients to understand their personal goals - from college savings to retirement - and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy.