Edward Jones' Annual Purpose, Inclusion and Citizenship Report Highlights Commitment to Financial Education

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Mar 14, 2023, 08:00 ET

ST. LOUIS, March 14, 2023 /PRNewswire/ -- Financial services firm Edward Jones has released its fifth-annual Purpose, Inclusion and Citizenship Report, "Purpose in Action," which outlines how the firm has partnered for positive impact to help improve the lives of its clients and colleagues, and to better communities and society, for more than a century.

Notably, Edward Jones reached a milestone of educating nearly 450,000 learners through its Edward Jones Financial Fitness program since its inception in 2020 – tracking toward the firm's goal of reaching 1 million learners by the end of 2025.

The report includes year-end 2022 data and the achievements of Edward Jones' approximately 52,000 associates throughout North America, and highlights some of the many ways 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 details the many ways the firm is helping its more than 8 million clients live their personal purposes. Nearly $350 million has been invested by clients in the Edward Jones Charitable Gift Fund, with more than $57 million granted to charities. Additionally, the firm offers 21 plans for 529 education savings plans, and its clients have $14.6 billion invested in them*.

For the first time, this year's report includes Edward Jones' economic impact. With a presence in 68% of the counties in the U.S., Edward Jones' home offices and more than 15,000 branch locations have a tremendous impact on national and local economies in the U.S. and Canada.

In a recent economic assessment**, the firm estimates that in 2021, more than 140,000 jobs were supported by Edward Jones in the U.S. and Canadian markets, translating into $15.3 billion of labor income. This labor income, together with indirect taxes and other income from Edward Jones' business, contributed $20 billion to GDP ($19.5 billion in the U.S. and $0.5 billion in Canada).

"Our aim is simple," said Edward Jones Managing Partner Penny Pennington. "It's to leave people and places better than we found them. Our impact over the past 100 years would not have been possible without the time, treasure and talent of our branch teams and home office associates investing in their local communities. By helping these communities thrive, more people are able to invest in their futures and create more possibilities for themselves and their families."

Highlights from this year's report include:

Partnering for Lasting Financial Strength

Edward Jones' commitment to fostering financial strength reflects the firm's belief in the power of financial knowledge and the personal, needs-based approach its financial advisors take when working with and educating clients and their communities.

The firm's accomplishments include:

Helping nearly 450,000 learners, including more than 60,000 high school students, increase their financial literacy since 2020 through the Edward Jones Financial Fitness program. The firm is nearly halfway to its goal of reaching 1 million learners by the end of 2025. In 2022, Edward Jones engaged more than 32,000 high school students at nearly 600 high schools across the nation, with 63% of those students reporting greater financial confidence and another 54% feeling prepared upon course completion to accomplish their long-term financial goals.
Advocating for the individual investor in the nation's capital through the firm's Grassroots Task Force. In 2022, the Task Force was a leading advocacy voice for the bipartisan SECURE 2.0 retirement savings legislation, which will extend and expand savings opportunities and help millions more Americans achieve a secure and dignified retirement. The Task Force led a firmwide mobilization that resulted in more than 8,200 associates sending over 27,000 letters to Capitol Hill.
Helping to make education more affordable through 529 education savings plans, which Edward Jones has been offering for 20 years to help parents, grandparents and other family or friends save for loved ones' education costs. Today, Edward Jones offers 21 plans for 529s and its clients have $14.6 billion invested in them.
Helping clients leave a legacy through donor-advised funds (DAFs)***, which can be a powerful tool for maximizing charitable impact, helping clients invest their contributions and grow their charitable gifts over time, tax free. In 2022, nearly $350 million was invested by Edward Jones clients in the Edward Jones Charitable Gift Fund, with more than $57 million granted to charities supporting causes and communities, advised by donors' recommendations.

Promoting Healthier Futures

Too often, pervasive health issues can negatively impact families' ability to build, maintain and enjoy financial well-being. Edward Jones is committed to its work to promote the financial and emotional well-being of those impacted by health issues, so more people can live enriching lives.

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 98,000 participants have walked under the Edward Jones banner, and the firm and its associates have raised $39 million for the fight to end Alzheimer's.
Working to beautify communities and reduce carbon emissions by planting 11,250 trees across the U.S. in partnership with the Arbor Day Foundation.
Providing associates with care and support to address their physical, emotional, financial and social well-being. Edward Jones is committed to comprehensive benefits to meet the needs of associates and works closely with them to create learning and development plans and provide required and optional training.
Creating hope for associates in need through the Edward Jones Disaster Relief Fund, which was activated following Hurricane Ian's devastating impact on many of the firm's associates. In Florida, 96 associate homes and 52 branches suffered various degrees of damage, eight of the branches with major damage. In 2022, nearly $200,000 was distributed to 40 associates and families from associate, retiree and Edward Jones Foundation contributions.

Advancing Inclusive Growth

Edward Jones strives to be a place of belonging where diversity, equity and inclusion are embedded throughout the firm, and where individuals are respected, valued and provided with the necessary resources to reach their individual potential.

The firm's accomplishments include:

Multiplying DEI impact through Business Resource Groups (BRGs), which bring together a broad range of perspectives to discuss their unique experiences, help attract and retain talent, and discover ways to serve current and future clients more deeply, especially as wealth transfers quickly and specifically to more diverse, affluent households. Since establishing the first BRG group in 2009, Edward Jones now has 12 groups that will have enterprise-wide membership in 2023.
Staying involved and invested in local communities to promote economic prosperity for more people. Through working with numerous organizations, including the St. Louis Anchor Action Network, Edward Jones is committed to advancing racial equity, removing barriers to economic opportunity and creating a more inclusive regional community.
Setting 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. The firm has made progress toward these goals through hiring as well as through development, advancement and retention. Edward Jones intends to hire about 1,500 financial advisors in 2023, including more women and people of color.

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

About Edward Jones
Edward Jones is a leading financial services firm in the U.S. and through its affiliate in Canada. The firm's nearly 19,000 financial advisors serve more than 8 million clients with a total of $1.6 trillion in client assets under care at the end of 2022. 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 52,000 associates and our branch presence in 68% of U.S. counties, 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.

*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.
**This information is for general purposes only and is not tax or legal advice. Please consult your tax advisor about individual tax considerations related to charitable contribution deductions.
***Analysis conducted in 2022 of economic and tax contributions of Edward Jones' operations in the U.S. and Canada in 2021

SOURCE Edward Jones