Edward Jones Survey Finds Madison-area Investors Confident in their Financial Wellness, Yet Pessimistic About Economy

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May 15, 2023, 09:00 ET

Managing Partner will make a stop in Stoughton to celebrate local branch

MADISON, Wis., May 15, 2023 /PRNewswire/ -- Two-thirds of investors in the Madison area are confident about their level of financial knowledge (68%) and their own financial wellness (66%), according to a new survey from financial services firm Edward Jones and Morning Consult.

When asked about their ability to handle an unexpected expense, almost all investors (94%) expressed confidence in handling a cost under $500, while those who feel secure in their ability to cover living expenses in the event of a job loss decreases to nearly three-quarters (74%).

The survey also revealed that more than half of investors in Madison hold a pessimistic view of the economy, with only 3% expressing they are 'very optimistic'.

Many Madison-area investors identified saving as a priority in managing their short- and long-term financial goals, with 75% currently saving for retirement and 65% saving for emergencies. Additionally, 64% are currently paying down credit card debt and 50% are paying other loans. When it comes to actions investors know they should be doing more, 46% indicated that they are not currently estate planning but feel like they should be taking steps towards it.

The firm released the survey results ahead of a visit from its Managing Partner Penny Pennington to the Stoughton area today to celebrate the opening of a new Edward Jones branch with a ribbon cutting and tree-planting ceremony.

Pennington will talk with Madison-area investors about their financial goals, the importance of having a financial plan in building long-lasting financial strength, and the role business for good plays in lifting up clients, colleagues and communities.

Joining Pennington for the ribbon cutting will be Jessica Knutson, a longtime Stoughton-area financial advisor who will be leading the newly opened office. Also joining at the ceremony will be Jessica's brother and Stoughton-area branch Financial Advisor Phillip Knutson and their father Kent, who retired from Edward Jones after a 30-year career. Kent was a financial advisor in Edward Jones' 1,000^th branch. The firm now has nearly 19,000 financial advisors throughout U.S. and Canada.

During the ribbon cutting, Pennington will recognize the storied history of the Stoughton branch and the Knutson family with Edward Jones, celebrating the positive impact they have made for their clients and the community.

Additionally, Mayor Tim Swadley and Stoughton's Syttende Mai Festival 2023 King and Queen, Dan and Cindy McGlynn, will attend the ribbon cutting.

"My career with Edward Jones unofficially began at age 9, helping with marketing mailers in my father's office a block from my current branch," Jessica said, recognizing her family's and Stoughton's connection to Edward Jones. "I'm excited to continue serving the financial needs my clients across the country, especially those in this special community of Stoughton."

Survey Methodology
This survey was conducted by global data intelligence company Morning Consult among a sample of adults with money invested residing in the Madison, WI DMA from March 24 - April 2, 2023.

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 $1.7 trillion in client assets under care at the end of March 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 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.

SOURCE Edward Jones