Advisors over age 50 handle half of assets under management in the country, Doran said.

‘‘As they begin to retire, there needs to be an orderly transition for the relationships and assets that they manage,’’ he said. ‘‘Trust is a big part of this business.’’

For brokerages including Morgan Stanley, the world’s largest, profits are rising for wealth management and declining for fixed-income trading. Morgan Stanley’s brokerage profit margin increased to 21 percent for the second quarter, the highest since the firm bought Smith Barney from Citigroup Inc. in 2009.

Edward Jones said it approached Kansas State because the brokerage has long-standing ties with the Manhattan, Kansas-based school.

‘‘They were very excited about the idea and wanted to implement it quickly,” Doran said.

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