Inside Edward Jones’ Evolving Wealth Strategy
Edward Jones - Chris Scanlan
Nov 04, 2024
Florida - Southwest
Email US
Click to Email Us
What You Need to Know
- More than 1.3 million client households have been served by the MoneyGuide planning platform.
- Expanding use of Salesforce delivers artificial intelligence-derived planning insights at scale.
- Advisory offerings need to resonate with younger clients who stand to earn and inherit significant wealth.
Some 2 1/2 years after Edward Jones announced plans to provide its 19,500 advisors with access to the MoneyGuide planning platform, more than 1.3 million client households have been served by the tool, according to Lena Haas, head of wealth management advice and solutions.
That is more than twice the projected uptake at this stage, Haas recently told ThinkAdvisor, and it’s strong evidence that a healthy culture of internal “coopetition” is driving tech adoption and fostering a planning-first service mindset at the firm.
Haas said she expects the vast majority of the firm’s 8 million-plus client households to eventually come to embrace the planning toolset, driven by advisor advocacy and organic market demand for more holistic financial planning services that go beyond investment management.
“It’s been really special to see how our advisors are talking about the tools internally and inspiring one another to engage in this planning-first approach,” Haas said. “They are embracing a deep discovery process with their clients. What are their wants? What are their wishes? Are they protected for the future?”
Other signs of an evolving planning culture, Haas said, are the fast pace of CFP designations being earned across the firm’s advisor force — along with big strategic investments and partnerships with external wealth management technology providers.
This includes the recently revealed collaboration with the estate planning platform provider Vanilla via Edward Jones Ventures and new integrations with U.S. Bank, along with expanding use of the Salesforce platform in a way that delivers artificial intelligence-derived planning insights at scale.
“We’re already at 5,500 branches now using Salesforce,” Haas said. “We are continuing our rapid pace of rollout throughout this year, and we’re gathering actionable insights from more than 500,000 client interactions on a weekly basis.”
Teaming and Home Office Support
Haas said another important area of evolution with Edward Jones is the expanding use of advisor teaming strategies, wherein multiple advisors work together to build a unified book of business within a branch office.
So far, Haas said, some 2,600 advisors are working in a team-based practice, and the option has proved to be important to both advisor recruiting and advisor retention. She said the firm has gained some 360 advisors on net so far this year, and it hopes to add more even amid a highly competitive landscape.
“We’re working very hard to make Edward Jones a place that makes sense for advisors to start or base their practice,” Haas said. “That includes the teaming approach, which has been available for more than two years now, as well as new home office support offerings that have been very popular.”
The support offerings, according to Haas, are delivered by an on-call team of specialists with expertise across a variety of knowledge domains, including estate planning, taxation, portfolio transition management and insurance.
“Access to these experts allows our financial advisors to help their wealth clients in a deeper way — without having to learn every single aspect do everything themselves,” Haas said. “For example, advisors can get support when it comes to things like planning a multi-year tax transition for a client with a complicated portfolio.”
The partnership with Vanilla is another way that Edward Jones is helping advisors do more for their clients more efficiently, Haas added, especially with many clients entering retirement and seeking to get their legacy planning in order.
Winning Next-Gen Clients
Asked what she sees as potential challenges for Edward Jones and the advisory industry at large, Haas said that firms need to take care to replace retiring advisors with younger and more diverse faces.
By the same token, Haas said, firms need to ensure that their advisory offerings resonate with younger generations of clients who stand to both earn and inherit significant wealth.
Haas pointed to findings from a 2023 Edward Jones survey showing that the majority of Americans ages 18 to 34 view themselves as struggling or merely surviving in life — yet this group is also optimistic about the future.
“With most worried about rising costs and an inability to save, this will have vast implications for the wealth management industry,” Haas said. “Our purpose calls us to identify how we might help this age group plan and reach their life goals — across health, family, purpose and finances.”
Survey respondents cited a short-term mindset when it comes to finances, Haas noted, focusing on everyday expenses, budgeting and saving for large purchases over other financial matters. Only 13% have paid off college debt, only 57% have health insurance and less than a third (27%) have life insurance.
To thrive, those in this life stage could benefit from financial education and professional advice, Haas said. Currently, however, only 12% go to a financial advisor to discuss their finances, while 52% speak with their parents as a trusted source of financial guidance.
“Another feature about this generation is that, yes, they do go to social media and TikTok looking for information, but they also come to such sources with a healthy skepticism,” Haas said.
Indeed, the survey findings suggest that only 1 in 5 reported using social media or influencers as trusted sources of financial guidance among the many other perspectives they seek.
Also positive, Haas said, is that 68% view financial advisors as an important sounding board for ideas, and even though they are the digital generation, 66% of people in this age bracket prefer in person interactions with their financial advisors.
“Working with a financial advisor can improve your financial knowledge and confidence and help you feel more in control,” Haas added. “Our research found that 68% don’t think they have enough income or savings for professional advice. But it’s never too early to get started. Financial advisors can remove complexity and help you focus on the most important first steps.”
- To view the original version of this article visit careers.edwardjones.com/blog/inside-edward-jones-evolving-wealth-strategy/
- Seniors Blue Book was not involved in the creation of this content.
Other Articles You May Like
Is Your Current Home Still a Fit for the Retirement You Envision?
Retirement isnt just a milestone its the start of something truly meaningful. After decades of hard work, youve earned the right to slow down, pursue your passions, and live life on your terms.But stepping into this exciting new chapter often comes with big decisions, and one of the biggest is this:Does your current home still match the lifestyle and budget you want for this next phase?Its a timely question. According to the Bureau of Labor Statistics, the cost of living has risen by 23% over the last five years. If youre thinking about how to make your retirement savings go further, those rising costs matter.Heres the good news: you may have more options and more control than you think.Many retirees are choosing to relocate to make the most of their retirement dollars. Moving to a lower-cost area (or even downsizing) can reduce major expenses like housing, utilities, and taxes, giving you more freedom to enjoy what truly matters.That could mean more travel, picking up a new hobby, spoiling your grandkids, or simply enjoying life with less financial stress.And you dont have to move across the country to make it work. For some, its about moving closer to family. For others, its trading city life for a quieter suburb where money stretches further.The key is making a plan that aligns with your retirement goals, and that starts with evaluating if your current home still serves you.Whether youre thinking about downsizing, relocating, or just exploring your options, partnering with a trusted real estate agent can make all the difference. They can help you understand your local market, simplify the selling process, and even connect you with vetted agents in other areas if youre considering a bigger move.Youve worked hard for this chapter. If your current home no longer supports the life you want, it may be time to ask:What does your ideal retirement look like?Could a move help you make it even better?Lets talk about how to turn that vision into reality. Connect with us at 941-275-2914 Or visit https://linktr.ee/NaplesParadiseLiving
Through independence, life plan communities flip the script on aging
By Sarah RichardEach May, Older Americans Month is observed to recognize the older adults in our lives. The 2025 theme, Flip the Script on Aging, focuses on transforming the way society perceives, talks about and approaches aging. This theme encourages Americans to challenge stereotypes and dispel misconceptions about the older generation, while also shining a light on the opportunities for connections, exploration and purpose that we discover as we age.Aging is a beautiful thing. With each day and each moment, you obtain a wealth of knowledge that can only come from a life of lived experiences. The thrill of life doesnt have to stop once you transition to a resort-style senior living community. In fact, its the perfect time for life to become more exciting.Transitioning into a senior living community is a unique period in your life youre setting sail on a new way of living and seeking new, enriching experiences. With a different way of living comes a wave of fresh opportunities a chance to try that hobby you've never had the time to explore, to make a new friend or to unlock hidden passions. Moving into a new community is a perfect opportunity for you to step out of your comfort zone alongside a community of like-minded individuals. When the time is right, entering a resort-style senior living community poses several benefits for retirees seeking a new experience. In a life plan community, you have the freedom to adopt a new daily routine, fall in love with a new hobby and discover lifelong friendships. Most of all, making the move to a life plan community ensures that youre taking the right steps to provide yourself with a new quality of life.What is a life plan community?Life plan communities, also known as continuing care retirement communities, are a form of senior living that offer residents the full continuum of care. Life plan communities include independent living, assisted living, memory support and skilled nursing, but older adults can enter a life plan community at any stage and transition to a different level as their needs shift. Independent living is for retirees who do not require health services but no longer want to bear the burden of home ownership and upkeep, planning the grocery list every day, or the many other things that keep you from spending time doing what you enjoy. Assisted living is for adults who require help with daily activities, such as dressing or bathing, but also desire the independence and amenities of a life plan community. Memory support is a safe and controlled environment designed to care for adults experiencing cognitive decline. Skilled nursing is for adults recovering from an illness or procedure, or those with chronic conditions that require daily attention.Through independence and enriching lifestyles, life plan communities work to break the stigma that often surrounds the concept of senior living communities and the outdated stereotype of a nursing home. Life plan communities are an entirely new way of life, from the activities and events to the people you meet and experiences you gain. Opportunity for connectionSenior living professionals understand that older adults can suffer from depression and anxiety as they age. According to the federal Centers for Disease Control, about 4% of adults aged 70 and over have depression. To combat this issue, life plan communities curate robust activity calendars that encourage residents to get out, have fun, and make connections.Socialization leads to increased mental and physical health, which is particularly important for older adults. Spending time with other people, even through a phone call or video conference, promotes sharper memory skills, lowers stress and reduces risk of chronic illnesses, while also providing a sense of purpose. Gulf Coast Village, Cape Corals only life plan community, encourages new residents to attend events so they can meet new people and become more engaged with their new home. Oftentimes, residents will form their own friend group and will continue to participate in activities together in the months and years ahead. Taking the extra step toward socialization in a new environment can be a rewarding experience, leading to increased mental wellness and enjoyed experiences. Regardless of size, life plan communities make socialization convenient for older adults to spend time with one another through a tight-knit environment, robust activities and planned events.Retirement isnt the end of the enriching life youve always lived its the beginning of a new chapter filled with fresh opportunities and meaningful experiences. At Gulf Coast Village, residents are encouraged to keep pursuing their unique hobbies and share the joy with their neighbors. Residents are invited to collaborate to create their own clubs and activities, building connections with neighbors and friends.Some residents teach art classes, some teach in the woodshop, while others volunteer part-time in our on-campus thrift store or even join a committee.In a life plan community, youre never alone. You are surrounded by fellow retirees also navigating lifes journey.About the authorSarah Richard is the executive director of Gulf Coast Village. To learn more, visit GulfCoastVillage.org or call 239-510-8712.
Navigating Medicare, Health, Life, and Travel Insurance: Essential Updates and Guidance for 2025
It is illegal for an insurance agent to call you regarding Medicare, Do not talk to someone you have not given permission to call. Ask them for their National Producer number and report them to Medicare for an unsolicited call. CMS has made many changes for Medicare recipients. If you want to enroll or review your plan over the phone, you need to agree to be recorded, and Medicare requires us to keep the recording for 10 years. In person, appointments do not have that requirement, but you need to sign a scope of appointment that authorizes us to talk to you about Medicare Advantage or a Drug Plan. It does not allow us to do anything but talk to you about these topics. One of the biggest changes for 2025 related to Medicare Part D Prescriptions whether withing a Part C Advantage plan or a stand-alone Part D drug Plan. Your yearly Part D out-of-pocket costs will be capped at $2,000 in 2025. You must buy medications using your plan and the medication must be in formulary to go toward the cap. You will also have a payment option to pay out-pocket costs in monthly amounts over the plan year, instead of paying when you receive the medications. This is done through the insurance company that you purchased your plan. When you turn 65 you are eligible for Medicare, once you have worked 40 quarters roughly 10 years there is no cost for Medicare Part A. Part A covers Hospitals, Skilled Nursing, Home Health & Hospice. Medicare Part B you can choose to take at 65 or you can hold off if you are still working and have credible coverage. If you do not have group health insurance that is considered qualified, and then you want it you would have a late enrollment penalty for each month you did not have Part B & Part D and that penalty will last for the rest of your life. Part B covers doctors, imaging, blood work, ambulance, durable medical equipment, etc. Part D is a Medicare Drug Plan and covers medications. During your initial enrollment period it is especially important to understand your options! Medicare Supplements/Medigap Plans are NOT guaranteed issue you may need to medically qualify. You can purchase a Medigap Plan during your 1st 6 months on Medicare Part B without medical underwriting. There are a lot of things you need to know. Again, work with an agent you can trust! Especially important: when you move you need to know your options. Can you keep the same plan? Do you need to make a change and what does that look like? Special Enrollment Periods You moved out of your plans service area, New to Medicare, Retiring and coming off of your employer group plan, Going into or out of Skilled Nursing, Medicaid and others may apply. We offer Free Medicare Seminars in Lee & Collier County please e-mail info@logicalinsurance.com to register or call 239-362-0855 for dates. Medicares website is www.Medicare.gov. Travel Insurance Did you know that most health insurance does NOT cover you outside of the country and that includes a cruise, in international waters (4 miles out). Travel insurance is not just about trip cancelation but most importantly what if you got sick or had an accident on your trip. Medical Trip insurance is very important and most of the time not very costly when you out way the benefits. Life Insurance You are never too young to have life insurance, and many types offer living benefits. As an example, I purchase life insurance for my grandchildren almost as soon as they are born. Their policy continues to build cash value that they can use during their lives, for education, wedding or even a 1st home purchase. The younger you are the lower the cost. There are many types of life insurance, and it is important to understand the differences between them. You also have payment options, such as 10-Pay, this type of policy you can pay the premium in full in 10 years, there are other terms available as wellLong Term Care Insurance Overall, 48.7% of older adults with ADL difficulties (or an estimated 3 million persons aged 70 and older) reported needing some sort of personal assistance with one or more ADLs, and, of those individuals with need, 20.7% (or an estimated 629,000 persons) had an unmet need. Long Term Care Insurance helps pay for in-home or facility-based needs, such as assistance with acts of daily living or help with paying for a facility. Start shopping for this insurance in your 40s, but its never too late to try. Your overall health will pay a major roll in the cost of the plans premium. The sooner than later for affordability. You have payment options such as a single payment, 10-Pay where the premium is paid-in-full in 10 years. You also get a discount with most companies doing a joint policy with your spouse. Remember Medicare is NOT meant for Nursing Home Care/Skilled Nursing. Logical Insurance Solutions is a SWFL Insurance Broker that works with most of the carriers, we are happy to help you through the maze. This is what we do daily, it is second nature to us. We offer virtual seminars, one on one Webex, phone and in-person appointments.To learn more about your options call to schedule an appointment contact: Logical Insurance Solutions for all your insurance needs, I am licensed in 36 states. www.Logicalinsurance.com 239-362-0855 info@Logicalinsurance.com By Ulla-Undine Merritt (Dee) National Producer Number (NPN) 8853366
Local Services By This Author
Edward Jones - Chris Scanlan
Long Term Care Planning 3301 Bonita Beach Road Southwest, Bonita Springs, Florida, 34134Quite simply, you are my priority. My favorite part of being a financial advisor is getting to know each client on a personal level. Your story, your values, your concerns and your personal goals are just as important to me as your financial goals. Uncovering what is important to you paves the way to building an incredible financial strategy that incorporates every aspect of who you are and what you are seeking to achieve. I work together with my clients by listening to what is truly important to them and using an established process to discover together which strategies and tools will work best for your unique circumstances.Another reason why I work so hard to understand my client's needs is my experience as a father of five and husband to my wife, Ann. I have four boys and one girl: Declan (7), Vaelen (5), Kylian (4) and Lochlann (2). We also added a princess to our rowdy crew, Ailis, in June of 2022. More than ever, I understand that health, safety and security will always be a top priority to my clients just as it is for me. The same care, attention, mindfulness and dedication required as a parent has shaped the way I approach my role as your financial advisor. So, whether it's planning for retirement, saving for education or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals.As a former collegiate athlete for Ave Maria University, I understand the importance of teamwork and being able to rely on those to around you to overcome challenges. Our partnership, the flexibility to work alongside your attorney, accountant and other trusted professionals and the resources at Edward Jones will ensure you receive the most current and comprehensive guidance to make sure you're given everything you need to be confident in your financial strategy.I love what I do, and I'm blessed to be in a role where I can have such a positive impact on my clients' lives and my community!
Edward Jones - Chris Scanlan
Long Term Care Insurance 3301 Bonita Beach Road Southwest, Bonita Springs, Florida, 34134Quite simply, you are my priority. My favorite part of being a financial advisor is getting to know each client on a personal level. Your story, your values, your concerns and your personal goals are just as important to me as your financial goals. Uncovering what is important to you paves the way to building an incredible financial strategy that incorporates every aspect of who you are and what you are seeking to achieve. I work together with my clients by listening to what is truly important to them and using an established process to discover together which strategies and tools will work best for your unique circumstances.Another reason why I work so hard to understand my client's needs is my experience as a father of five and husband to my wife, Ann. I have four boys and one girl: Declan (7), Vaelen (5), Kylian (4) and Lochlann (2). We also added a princess to our rowdy crew, Ailis, in June of 2022. More than ever, I understand that health, safety and security will always be a top priority to my clients just as it is for me. The same care, attention, mindfulness and dedication required as a parent has shaped the way I approach my role as your financial advisor. So, whether it's planning for retirement, saving for education or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals.As a former collegiate athlete for Ave Maria University, I understand the importance of teamwork and being able to rely on those to around you to overcome challenges. Our partnership, the flexibility to work alongside your attorney, accountant and other trusted professionals and the resources at Edward Jones will ensure you receive the most current and comprehensive guidance to make sure you're given everything you need to be confident in your financial strategy.I love what I do, and I'm blessed to be in a role where I can have such a positive impact on my clients' lives and my community!
Edward Jones - Chris Scanlan
Financial Advisor 3301 Bonita Beach Road Southwest, Bonita Springs, Florida, 34134Quite simply, you are my priority. My favorite part of being a financial advisor is getting to know each client on a personal level. Your story, your values, your concerns and your personal goals are just as important to me as your financial goals. Uncovering what is important to you paves the way to building an incredible financial strategy that incorporates every aspect of who you are and what you are seeking to achieve. I work together with my clients by listening to what is truly important to them and using an established process to discover together which strategies and tools will work best for your unique circumstances.Another reason why I work so hard to understand my client's needs is my experience as a father of five and husband to my wife, Ann. I have four boys and one girl: Declan (7), Vaelen (5), Kylian (4) and Lochlann (2). We also added a princess to our rowdy crew, Ailis, in June of 2022. More than ever, I understand that health, safety and security will always be a top priority to my clients just as it is for me. The same care, attention, mindfulness and dedication required as a parent has shaped the way I approach my role as your financial advisor. So, whether it's planning for retirement, saving for education or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals.As a former collegiate athlete for Ave Maria University, I understand the importance of teamwork and being able to rely on those to around you to overcome challenges. Our partnership, the flexibility to work alongside your attorney, accountant and other trusted professionals and the resources at Edward Jones will ensure you receive the most current and comprehensive guidance to make sure you're given everything you need to be confident in your financial strategy.I love what I do, and I'm blessed to be in a role where I can have such a positive impact on my clients' lives and my community!