Edward Jones Accelerates Journey Toward Human-centered Complete Wealth Management

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Mar 15, 2022, 07:00 ET

Announces Investments Designed to Deliver Enhanced Client and Branch Experiences

ST. LOUIS, March 15, 2022 /PRNewswire/ -- Financial-services firm Edward Jones, celebrating its Centennial in 2022, is accelerating its journey and aspiration to deliver human-centered complete wealth management to its current and future clients. The firm is looking to advance its purpose to make a greater impact by providing personalized experiences, guidance and tools designed to help more people achieve financially what is most important to them.

"Edward Jones is on a multi-year journey to fundamentally shift value creation for our more than 7 million clients, 50,000 colleagues and the thousands of communities we serve," said Kristin Johnson, Chief Transformation and Human Resources Officer. "Our purpose calls us to improve the lives of our clients and colleagues, while also bettering our communities and society. Accelerating our journey to become the industry leader in human-centered complete wealth management, including investments in our talented people and strategic relationships, is a meaningful way we can scale our impact to potentially tens of millions of future clients and their families."

The firm announced it has hired David Chubak to guide the firm's journey toward human-centered complete wealth management. Chubak will lead business building efforts to meet the evolving and unique needs of Edward Jones' clients while delivering greater value for its branch teams. Chubak joins Edward Jones from Citigroup's retail services where he provided products and services for Citi's retail consumers. Prior to becoming head of retail services in 2021, Chubak oversaw Citibank's U.S. retail-banking arm during the early days of the COVID-19 pandemic, when Citi's mortgage and wealth-management teams were dealing with a surge in volume.

Edward Jones is investing $1 billion in 2022 in technology infrastructure, digital initiatives, virtual business enablement tools, and a variety of test and learn pilot programs designed to grow its impact and deepen client and financial advisor relationships. Edward Jones financial advisors throughout the U.S. and Canada are currently piloting new prototypes that may be scaled to Edward Jones' nearly 19,000 financial advisors and more than 7 million clients across North America.

As part of this, Edward Jones is also implementing planning tools with Envestnet | MoneyGuide, which will help Edward Jones' financial advisors deepen the discovery process and begin to build and manage financial plans with their clients. MoneyGuide capabilities will allow branch teams to address a broader range of client needs and goals beyond retirement and education. Financial advisors in the U.S. will test and learn other ways Edward Jones might integrate MoneyGuide tools in the future with a goal of scaled adoption by 2025.

The firm also recently acquired a minority interest in Mesa, AZ based Public Safety Financial, LLC, which owns a registered investment adviser that serves first responders and government employees. This strategic investment will help Edward Jones better understand unique goals of the first responder client segment in the U.S. and co-create business plans that more completely address their needs across health, family, purpose and finance.

The firm anticipates making additional announcements in the months to come as it continues to activate its purpose and accelerates its journey toward delivering on human-centered complete wealth management. The Jones Financial Companies, L.L.L.P. (the parent company of Edward Jones) ended 2021 with $1.8 trillion of client assets under care, a $276 billion increase from 2020, due to increases in the market value of client assets, as well as the cumulative impact of net new assets the firm disclosed in a 10-K filing with the Securities and Exchange Commission on March 11, 2022. The firm's net revenue in 2021 was $12.3 billion, a 22% increase compared to 2020. Edward Jones' purpose is to partner for positive impact to improve the well-being of its clients and colleagues, and together, better its communities and society.

About Edward Jones
Edward Jones, a FORTUNE 500 firm headquartered in St. Louis, provides financial services in the U.S. and, through its affiliate, in Canada. Every aspect of the firm's business, from the investments its financial advisors offer to the location of its branch offices caters to individual investors. The firm's nearly 19,000 financial advisors serve more than 7 million clients with a total of $1.8 trillion in client assets under care. The Edward Jones website is at www.edwardjones.com, and its recruiting website is www.careers.edwardjones.com. Member SIPC.

Forward-Looking Statements
This press release contains forward-looking statements. You can identify forward-looking statements by words that predict or indicate future events, such as "expect," "look forward," "will" or similar expressions. All forward-looking statements involve known and unknown risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the factors discussed in the sections on Risk Factors and Forward-Looking Statements in The Jones Financial Companies, L.L.L.P.'s Annual Report on Form 10-K for the year ended December 31, 2021. These forward-looking statements were based on information, plans, and estimates at the date of this press release, and The Jones Financial Companies, L.L.L.P. does not undertake to update forward-looking statements to reflect changes in underlying assumptions or new information.

SOURCE Edward Jones