Edward Jones accelerates value for clients and branch teams through strategic partnerships

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Aug 21, 2024, 09:00 ET

Deepening relationship with U.S. Bank enhances saving, spending and borrowing capabilities and new tools are helping financial advisors shape more comprehensive financial strategies

ST. LOUIS, Aug. 21, 2024 /PRNewswire/ -- Continuing its evolution to provide more comprehensive planning and professional advice for clients through its branch teams, Edward Jones announces milestones through existing relationships with U.S. Bank, MoneyGuide and Salesforce.

Edward Jones and U.S. Bank will partner to offer Edward Jones' clients in the U.S. co-branded checking accounts and an enhanced credit card offering, beginning in late 2025. U.S. Bank will issue, service and operate these new offerings. Edward Jones' clients will be able to access their U.S. bank accounts within the Edward Jones' mobile app and website giving them the ability to access digital wallet, and mobile check deposit and bill pay capabilities for easy, on-the-go access and same-day funds transfer. Enhanced credit card offerings in partnership with U.S. Bank are being developed based on client feedback.

U.S. Bank is the fifth largest commercial bank in the U.S. With expanded product offerings, Edward Jones' clients will be able to consolidate their financial lives and receive more complete advice and guidance on their short- and long-term financial goals. Edward Jones' approximately 19,000 financial advisors in the United States will have greater visibility into client spending and cash flow needs, which will help them deliver a more fully integrated financial experience. U.S. Bank will provide seamless client servicing via a dedicated service team and dedicated resources available at U.S. Bank branches for in-person needs.

"Strengthening our saving, spending and borrowing offerings will help us serve more clients more completely," said David Chubak, responsible for the U.S. Business Unit and Branch Development at Edward Jones. "U.S. Bank is our current partner for our credit card offering. Expanding our already successful partnership will help us scale the impact for our clients across the U.S. Both of our firms prioritize a people-first approach and are committed to continually evolving to serve clients' needs now and in the future."

Edward Jones financial advisors continue adoption of Envestnet | MoneyGuide and Salesforce platforms to deepen their knowledge and insights of clients to shape a more comprehensive financial strategy. This is part of the firm's multi-year evolution to offer financial advisors more tools, products, and service offerings to serve more clients, more completely.

Since making MoneyGuide available to all U.S. branch teams in November 2023, financial advisors have added more than 1.3 million clients to the platform – two times faster than expected. Financial advisors who are using MoneyGuide as part of deep discovery conversations have clients who report feeling more confident in their financial future following their meetings.

Edward Jones branch teams will also be able to deepen relationships with clients based on trusted insights from Salesforce Financial Services Cloud. Salesforce is now in more than 5,500 branches. As it's rolled out fully in the next several months, the firm expects to begin enabling financial advisors and client support teams to tap into the full capabilities of the platform, including vast data and collective wisdom across its more than 8 million clients - creating better experiences and more quickly meeting clients' unique needs.

About Edward Jones
Edward Jones is a leading financial services firm in the U.S. and through its affiliate in Canada. The firm's more than 19,500 financial advisors throughout North America serve more than 8 million clients with a total of $2.1 trillion in client assets under care as of June 28, 2024. Edward Jones' purpose is to partner for positive impact to improve the lives of its clients and colleagues, and together, better our communities and society. Through the dedication of the firm's approximately 54,000 associates and our branch presence in 68% of U.S. counties and most Canadian provinces and territories, the firm is committed to helping more people achieve financially what is most important to them. 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 "will," "evolve," "in the future" 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 Jones Financial Companies, L.L.L.P.'s annual report on Form 10-K for the year ended December 31, 2023, as supplemented by its quarterly reports on Form 10-Q for the periods ended March 29, 2024 and June 28, 2024. These forward-looking statements were based on information, plans, and estimates at the date of this press release, and the firm does not undertake to update forward-looking statements to reflect changes in underlying assumptions or new information.

SOURCE Edward Jones