Edward Jones' Annual Purpose, Inclusion and Citizenship Report Highlights Commitment to Client, Colleague and Community Impact

ST. LOUIS, March 13, 2024 /PRNewswire/ -- Financial services firm Edward Jones released its sixth-annual Purpose, Inclusion and Citizenship Report, "Growing Our Impact," featuring the many ways Edward Jones advanced its business and community goals throughout 2023.

The report describes the achievements of Edward Jones' approximately 54,000 associates throughout North America through year-end 2023. "Growing Our Impact" highlights how the firm brings its purpose to life through three Purpose Impact Areas: Partnering for Lasting Financial Strength, Promoting Healthier Futures and Advancing Inclusive Growth.

The report showcases the ways the firm is helping its more than 8 million clients achieve what is most important to them. Nearly $535 million has been invested by clients in the Edward Jones Charitable Gift Fund since its inception, with more than $90 million granted to charities in 2023 – making a difference for communities throughout the U.S.

Through its Financial Fitness program, Edward Jones educated more than 848,000 learners, including 206,000 high school students, since 2020 – tracking well toward the firm's goal of reaching 1 million learners by the end of 2025. The program provides financial knowledge and confidence to students and adults, empowering them to make the next right financial decision.

The report also includes Edward Jones' economic impact throughout 2023. With a presence in 68% of the counties in the U.S., Edward Jones' home offices and nearly 16,000 branch locations have a positive impact on national and local economies in North America. The firm estimates that in 2023, more than 160,000 jobs were supported by Edward Jones in the U.S. and Canada, translating into $18.7 billion of labor income. This labor income contributed an estimated $25.4 billion to GDP ($24.9 billion in the U.S. and $529 million in Canada). For every job Edward Jones directly creates as an employer, another 1.8 jobs are created in the community.

"At Edward Jones, the work we do is an extension of our purpose, which is to partner for positive impact, to improve the lives of our clients and colleagues and together, better our communities and society," said Edward Jones Managing Partner Penny Pennington. "As a business that seeks to make a positive difference in the world through the work we do, we are addressing some of the most pressing challenges of our time in the areas where the skills and passions of our talented colleagues intersect with our ability to make the greatest impact."

Highlights from this year's report include:

Partnering for Lasting Financial Strength
Edward Jones is committed to building long-lasting financial strength through the power of financial knowledge and confidence. The firm's financial advisors create deep relationships and provide tailored resources to educate and support people seeking to create intergenerational wealth for themselves and their families. The firm's accomplishments include:

• Helping over 848,000 learners increase their financial literacy since 2020 through the Edward Jones Financial Fitness program. The firm is near its goal of reaching 1 million learners by the end of 2025. On average, students who completed the program in 2022-2023 increased their financial knowledge assessment score by 24%.
• Helping families to better afford education through 529 education savings plans, which Edward Jones offers to help clients save for education costs. Today, Edward Jones offers 21 plans for 529s, where its clients have $16.8 billion invested*.
• Offering retirement solutions and guidance to optimize retirement at every stage. Edward Jones is an advisor with respect to 261,000 workplace retirement plans with $84.9 billion in assets under care for more than 1 million plan participants, as well as $853.9 billion in 7.2 million Individual Retirement Accounts.
• In addition to their commitment to serving clients, Edward Jones' financial advisors continue to pursue new opportunities for learning and development, with more than 2,400 financial advisors in the U.S. and 55 in Canada pursuing professional designations this year. Increasing their acumen in this way is critical to serving more people more holistically.

Promoting Healthier Futures
As pervasive health issues continue to stand in the way of people building, maintaining and enjoying wealth in life, Edward Jones is committed to promoting the financial, physical and emotional well-being of those impacted by health issues, so each person can live an enriching life. The firm's accomplishments include:

• Continuing to serve as a National Presenting Sponsor for the Alzheimer's Association Walk to End Alzheimer's^®. Since 2016, more than 111,000 participants have walked under the Edward Jones banner and the firm and its associates have raised $45 million for the fight to end Alzheimer's. Edward Jones has pledged to raise $50 million with an estimated 150,000 Walk to End Alzheimer's participants by the end of 2025.
• Planting 25,000 trees across the U.S. in partnership with the Arbor Day Foundation to provide ecological benefits such as CO₂ sequestration, air quality improvements and stormwater runoff reduction for years to come.
• Supporting associates in caring for their own physical, mental, emotional, financial and social well-being. In 2023, Edward Jones created a comprehensive well-being strategy to improve the overall health of all associates and build a more resilient workforce – allowing these associates to continue making an impact. The program now includes communication and education, and health insurance premium discounts aligned to highest impact well-being activities that can benefit associates and reduce healthcare spending.
• Through the Edward Jones Disaster Relief Fund, helping associates and their families recover with resilience when unexpected disasters strike. In 2023, approximately $242,000 was distributed to more than 40 associates and families from associate, retiree and Edward Jones Foundation contributions.

Advancing Inclusive Growth
Edward Jones is working to address a wider set of needs, income levels and backgrounds for current and potential clients – creating a more diverse, equitable and inclusive organization for the firm's colleagues in the process and impacting long-term societal change through investment in equitable access to economic opportunities within our associates' communities.

The firm's accomplishments include:

• Since establishing the first Business Resource Group (BRG) in 2009, Edward Jones has 12 groups in 2023 celebrating a variety of races, ethnicities, lived experiences and interests, such as Interfaith, Military-Veteran, LGBTQ+ and Allies, Remote Connections and Green. There are approximately 5,000 BRG members at Edward Jones.
• Edward Jones actively works to attract and retain the best talent inclusive of all perspectives, experiences and backgrounds. In 2023, Edward Jones hosted 16 recruiting and networking events with the local chapters of NABA, Inc. (formerly National Association of Black Accountants), the National Black MBA Association (NBMBAA), Prospanica (The Association of Hispanic MBAs & Business Professionals) and Ascend (a global network for Pan-Asian business professionals across North America). These events provided the firm's market leaders and branch teams with opportunities to meet talented career changer professionals from nontraditional backgrounds and experiences and discuss financial advisor opportunities. The firm is looking to continue this program in 2024.
• Progress toward ambitious diverse representation goals to increase the number of people of color and women among leadership and financial advisors in the U.S. and Canada by the end of 2025. Since 2021, the firm has been tracking toward these goals through hiring as well as through development, advancement and retention.

The firm's annual Purpose, Inclusion and Citizenship Report is available at EdwardJones.com/GrowingOurImpact.

Financial Performance and Results

In addition, The Jones Financial Companies, L.L.L.P. including its principal operating subsidiaries in the U.S. and Canada, Edward D. Jones & Co., L.P. and Edward Jones, and Ontario limited partnership (collectively, "Edward Jones" or "the firm") announced its full-year 2023 performance in a filing with the SEC on March 12, 2024. Highlights include:

• Edward Jones ended the year with 19,232 financial advisors with branches in over two-thirds of U.S. counties and most Canadian provinces and territories and 19,786 client support team professionals, counted on a full-time equivalent basis, representing a 2% and 10% increase compared to the end of the prior year, respectively.
• The firm continued investment in new solutions, tools and products to better serve clients and is focused on developing, rewarding and growing branch teams. Financial advisor attrition decreased from 5.8% at the end of 2022 to 4.7% at the end of 2023.
• The firm ended the year with a 17% increase in client assets under care to $1.9 trillion, reflecting increases in the market value of client assets as well as the cumulative impact of net new assets gathered during the year.
• Net revenue increased 12% to $13.798 billion, primarily due to increases in fee and net interest and dividends revenue.
• Operating expenses increased 12% to $12.186 billion in 2023 compared to 2022, primarily due to increases in compensation and benefits and communications and data processing expenses.

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 19,000 financial advisors serve more than 8 million clients with a total of $1.9 trillion in client assets under care at the end of December 2023. 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.

DISCLOSURES

*Tax issues for 529 plans can be complex. Please consult your tax advisor about your situation. Edward Jones, its financial advisors and associates cannot provide tax or legal advice.

SOURCE Edward Jones