Edward Jones - Chris Scanlan

When evaluating financial advisors, women value personalized, tailored advice ST. LOUIS, October 22, 2024  According to U.S. financial advisors, 72% of their women clients who found them through a referral specifically sought recommendations from other women, finds a new survey from Edward Jones, in partnership with Morning Consult. With two-thirds of American women viewing themselves as the Chief Financial Officer of their family,1 its clear that women are increasingly taking a bigger role in their financial future, and there is a growing opportunity for financial advisors to serve them.When seeking a financial advisor, women turn to their networks, and financial advisors say their top referral source for their women clients come from clients friends and family (77%). Surveyed financial advisors note their ability to offer personalized, tailored financial advice (64%) as one of the top reasons why women clients chose to work with them. When trying to build an authentic connection with clients, financial advisors report focusing primarily on being transparent and honest about results, fees and services (72%), actively listening to their needs and concerns (68%), regularly following up to check on their progress, and involving them in every step of the decision-making process (66%). Authenticity and transparency are paramount in building successful client relationships. All investors value a financial advisor who takes time to understand their unique financial needs, said Jasmine Butler, financial advisor at Edward Jones. As a woman, I bring warmth and empathy to my client conversations. Saying, I get you and I'm here to guide you every step of your financial journey really resonates." Empathy, transparency and communication are key to conversion When it comes to converting women investors into clients, financial advisors highlight the top three most important factors are providing clear communication and education (65%), being empathetic towards their financial situations (64%) and maintaining regular and transparent communication (63%). At Edward Jones, financial advisors are offered the opportunity to build their practice their way. Our practice models offer flexibility along with advanced products and tools enabling our financial advisors to serve more clients, more completely. This includes taking a goals-based approach to help women investors with complex needs, added Butler. Supporting women investors as they balance priorities Whether balancing paying for their childs education, caring for aging loved ones, or focusing on saving for their own retirement, women investors have unique considerations and goals. Challenges like caregiving weigh on women investors, and three-fourths of financial advisors agree that women clients caregiving duties have negatively impacted their ability to save for their financial goals (74%). Financial advisors report more than three-fourths of women clients prioritize long-term investing over short-term investing (77%), with their top financial goals being contributing to their 401(k) (63%), working toward financial independence (61%) and building personal retirement savings (56%). To learn more about this research, please visit www.edwardjones.com/womeninvestors. Methodology This survey was conducted by global data intelligence company Morning Consult among a national sample of 405 financial advisors from August 22 September 6, 2024. 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. About Morning Consult Morning Consult is a global decision intelligence company changing how modern leaders make smarter, faster, better decisions. The company pairs its proprietary high-frequency data with applied artificial intelligence to better inform decisions on what people think and how they will act. Learn more at morningconsult.com.

What You Need to KnowMore 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 its 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 firms 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.Its 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 firms 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.Were already at 5,500 branches now using Salesforce, Haas said. We are continuing our rapid pace of rollout throughout this year, and were gathering actionable insights from more than 500,000 client interactions on a weekly basis.Teaming and Home Office SupportHaas 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.Were 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 ClientsAsked 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% dont think they have enough income or savings for professional advice. But its never too early to get started. Financial advisors can remove complexity and help you focus on the most important first steps.

Deciding to retire can be a formidable undertaking. In addition to your own future well-being, there is a great concern for what will happen to your clients. Youve spent years growing a financial advising practice, and with it, youve established many close, long-standing client relationships. How can you ensure that your clients will be served appropriately through a seamless transition and that you are amply rewarded for this legacy? When and where do you begin building a succession plan that achieves these goals?Edward Jones recognizes the importance of every financial advisor having a succession plan, so weve created a thoughtful, but thorough process to help our FAs plan for the next chapter in their lives. The firm treats succession planning as a step in a career-long practice management program. Just as we are there to support our financial advisors with coaching and peer support when building a practice, we are also there to provide the resources and guidance necessary to build a successful retirement transition plan.Edward Jones offers their financial advisors at all levels of production a thoughtful, turnkey process. The plan ensures a seamless transition for clients and provides fair and competitive compensation for the retiring advisorWith a structured framework for retirement transition plans, proper thought and attention is given to each step in the process.The retiring FA guides:The selection process of those FAs best suited to each of their client relationshipsThe timeframe for the transitionThe structure of the payout for the practice theyve built.The retirement transition plan at Edward Jones was a big factor in my decision to move from another firm. I knew my clients would be well taken care of, largely because they would continue to work with my BOA [Branch Office Administrator] and their new financial advisor would remain in our local area.Bob Miller, CFP, Independence KS, transitioned to Edward Jones in June 2022Finishing your financial advising practice at Edward Jones provides you with peace of mind that youve served your clients well and that your dedicated level of care will continue in the future and that you were generously recognized for the contribution of your legacy.

Financial advisors help their clients achieve their long-term financial goals. Its a growing field with benefits like flexibility and the ability to determine your own income and potential to take charge of your work-life balance.If you have the leadership skills and initiative, coupled with the desire to build your business, financial advising is a promising career. Market intelligence firm Cerulli Associates predicts more than one-third of the financial advisors in the U.S. will retire over the next decade. To fill their shoes, the nation will need more than 100,000 new financial advisors to enter the industry.What is it like to be a financial advisor?In their day-to-day work, financial advisors manage both technical and creative tasks. U.S. News and World Report ranked the role among the top 20 Best Business Jobs. Opportunities to use their entire skillset keep the job from ever feeling mundane or boring. In fact, Career Karma included financial advisor on its list of the happiest careers.Creating personalized financial strategies taps into a financial advisors technical skills and critical thinking. They call on their creative, social, and communication abilities on a daily basis to engage clients and operate their branch office.The career can also be financially rewarding, with unlimited earning potential. Edward Jones pays new financial advisors a salary while they study for their licensing exams, then provides a supplemental salary for up to four years as they build their commissions and new asset compensation.Job search and hiring website Indeed.com lists the following qualities as good ones for a financial advisor to have:ResearchAnalytical thinkingInterpersonal communicationDetail orientationEmpathyRisk assessmentWhat does a financial advisor do?Theres more to being a financial advisor than crunching numbers. Financial advisors daily activities fall primarily under four areas of focus, each one designed to serve their clients and community.Build relationshipsThe area of financial services is a people-first profession. Clients trust financial advisors with not only their money, but with the future that money represents dreams like a childs education or a comfortable retirement.By building relationships, financial advisors gain a deep understanding of each clients unique needs and values. And clients develop trust in their financial advisors advice.Create personalized financial strategiesPeople come to financial advisors for guidance. Financial advisors combine their understanding of financial services with what they learn about a client to develop personalized roadmaps to short-term and long-term financial goals.A good financial advisor recommends quality, diversified investment products to suit each clients objectives and personal tolerance for risk.Financial advisors take a holistic approach to their clients finances. Beyond helping clients manage their investments, a financial advisor may help their client identify opportunities to pay off debt, plan for retirement, and prepare for the unexpected.Run a businessHelping people achieve their financial goals is a financial advisors primary function. But they are also a small business owner, and a portion of their time is dedicated to managing their branch office.As the leader of their practice, Edward Jones financial advisors need the leadership skills to hire and manage staff, as well as the business acumen to create and execute a business strategy.We provide assistance with making that first hire a branch office administrator. The branch office administrator is a financial advisors right hand, helping the financial advisor in developing a business strategy and managing the day-to-day tasks that go along with running a business.If you were to start a business from scratch, you would have to secure your own office space, training, software, employees, business plan its enough to make your head spin. A unique advantage to becoming an Edward Jones financial advisor is that you are provided assistance with securing the space, tools, and people you need to hit the ground running.Positively impact your communityA financial advisors work impacts the lives of people in their community. Being an active part of that community builds trust and inspires financial advisors to do their best work.Financial advisors actively volunteer, network, and sponsor events in their local communities.On a broader scale, Edward Jones is committed to corporate citizenship initiatives. As a firm, were working to combat Alzheimers disease and educate the public on economic inclusion and financial health. We are aligning actionable strategies to United Nations Sustainable Development Goals and measuring the impacts and outcomes of our environmental activities.Read more about the good we do alongside our 50,000 associates across North America in our Purpose, Inclusion and Citizenship Report.A day in the life of a financial advisorA financial advisors schedule offers the flexibility and independence needed to achieve work-life balance. They may choose to work evenings or weekends, or they might stick to the traditional 9-to-5.Heres what a financial advisor might do on a typical day:Keep up with the marketsPeople hire financial advisors for their knowledge. When the economy shifts, clients call their financial advisor to ask how their investments might be affected or to seek reassurance about their portfolio.Financial advisors need to understand the markets daily performance so they can explain it to clients and apply it to strategies.Financial advisors spend some time every day watching or reading market news on television, online, or in trade publications. Financial advisors with Edward Jones have the advantage of home office research teams that help them stay up to date on stock recommendations, mutual fund management, and more.Review investmentsInvesting is not a set it and forget it activity. Financial advisors regularly review their clients portfolios to make sure everything is performing as expected. Shifting markets or changing client needs might lead a financial advisor to make minor adjustments or recommend a new course of action.Keeping up on all the markets changes and how they might impact clients is a tall order. Edward Joness home office advisory teams help financial advisors out in the field provide the most comprehensive, up-to-date guidance.Counsel clientsHelping to create a better future for their clients is a financial advisors most important job. Financial advisors help their clients achieve long-term goals like home ownership or retirement.To do this effectively, financial advisors need the technical skills to create a sound financial strategy and the communication skills to explain it so a client understands.A financial advisor might meet with a client annually, quarterly, or even monthly, depending on the clients needs. Before these meetings, the financial advisor reviews the clients portfolio. They create a presentation to help the client visualize the portfolios performance and the potential outcome of recommended changes.Market their businessSucceeding as a financial advisor isnt as simple as flipping the sign on the door to open. Financial advisors need a full pipeline of prospective clients, which means getting comfortable with explaining who they are and what they offer.Some financial advisors rely on traditional marketing channels like advertising. Others might sponsor events like college planning workshops for parents. Many market through social media platforms like Facebook and LinkedIn.Edward Jones financial advisors have the advantage of the Client Attraction Marketing Hub, an online repository of marketing strategies and resources.The Client Attraction Marketing Hub includes webinars, social media tools, and brand assets. Youll also find useful planning tools like marketing calendars, customizable prospecting materials, and marketing dos and donts.NetworkThe most effective marketing channel is referrals. Effective financial advisors have a network of accountants, attorneys, and other financial professionals who can refer clients to their office.This network also proves invaluable when a financial advisor comes up against a unique situation.Besides formal events like chamber of commerce mixers, financial advisors can meet like-minded people by getting involved in the community. When volunteering for a cause theyre passionate about, financial advisors can build their network while making a positive impact.Financial advisors should schedule time each week to meet new people and catch up with the people in their sphere.Compliance and career advancementThe financial services industry is heavily regulated, and regulations change often. Many independent financial advisors spend one to two hours a day on compliance activities.Edward Jones financial advisors are fortunate the home office does the heavy lifting for them. Associates at our home office keep up with changing regulations and manage compliance activities for our financial advisors nationwide.Continuing education is a required part of maintaining a financial advisor license. Edward Jones financial advisors are encouraged to pursue additional training to broaden their knowledge and skills. Commitment to education secured Edward Jones the No. 17 spot on the 2024 Training APEX Awards list by Training magazine.Its also a good idea for financial advisors to attend industry conferences. These events are an opportunity to hear from leaders in the field, learn about new technology and best practices, and network with peers.How to become a financial advisorApply. Start by applying online. If youre selected to become an Edward Jones financial advisor, youll be welcomed into a supportive community dedicated to your success.Get licensed. Studying for licensing exams typically takes more than two months. Edward Jones pays new financial advisors a supplemental salary during this period so they can focus on preparing for the test. Edward Jones also provides study guides, practice tests, a licensed study specialist, and a coaching team to help candidates get ready for their exams.In order to take some licensing exams, you will need to be sponsored by a FINRA (Financial Industry Regulatory Authority) member firm like Edward Jones.Establish your practice. Once theyre fully licensed, Edward Jones financial advisors spend about four months learning to run their practice. We teach them how to find clients, how to provide excellent service, and management best practices.After the branch office opens, Edward Jones continues to provide ongoing support. Financial advisors have access to ongoing training, mentor programs, and career development opportunities. The home office helps to hire and support a branch office administrator to help with the day-to-day work of running the office.What makes Edward Jones different?Edward Jones takes a personal approach to financial strategies. We have a singular focus: serving each and every client through a one-on-one relationship with their financial advisor.As a privately held company, were not accountable to shareholders or quarterly earnings only to our clients. That means every Edward Jones associate is free to focus 100% on the clients best interests.Our partnership structure is collaborative, not competitive. Edward Jones financial advisors enjoy the support and camaraderie of other financial advisors in their region. Our financial advisors are encouraged to offer and receive support from their peers.Its a human-centered environment that helps financial advisors achieve their potential while doing meaningful work for their clients and community one of the reasons we were ranked on the Fortune 100 Best Companies to Work For 2024.This single-minded focus is at the heart of our unique branch-team model. The firm invests in getting financial advisor branch offices up and running and offers ongoing support.Interested in the Edward Jones Financial Advisor Opportunity?Learn more about starting a career as a financial advisor or start searching for opportunities now. If youre already licensed as a financial advisor, learn how were built to take your practice to the next level.Training magazine Training Apex Award 20002024, published JanuaryMarch each year, data as of September of prior year, application fee required for consideration.2024 Fortune 100 Best Companies to Work For, published April 2024, research by Great Places to Work, data as of August 2023. Compensation provided for using, not obtaining, the rating.

One of the drawbacks of some types of retirement accounts, such as Roth IRAs, is the relatively low contribution limits permitted by the IRS. However, there are tools that can help you save more for retirement while minimizing your tax burden in retirement. The mega backdoor Roth is one such tool that may help you increase the amount of tax-free assets you save for retirement.What is the mega backdoor Roth strategy?Similar in concept to the Backdoor Roth IRA strategy, the mega backdoor Roth (MBD Roth) is a way for those with an employer-sponsored retirement plan (e.g., a 401(k) or 403(b) plan) to potentially save more tax-free funds than the employee elective deferral limits ($23,000 in 2024).  To implement this strategy, an investor makes an after-tax contribution to their employer retirement plan and then converts it to a designated Roth account within the plan or rolls it into a Roth IRA. Depending on the details of your plan, you may be able to contribute up to $46,000 above the 2024 elective deferral limit by pursuing this strategy. Its important to note that not all plans allow employees to make after-tax contributions, which eliminates the ability to pursue the mega backdoor Roth strategy.When converted, these funds also gain the other benefits of a Roth account, including no required minimum distributions (RMDs), a tax-free asset for your heirs and potential access to tax- and penalty-free contributions before retirement.How do you execute a mega backdoor Roth strategy?There are generally two ways to execute the MBD Roth: an in-plan Roth conversion and an in-service distribution. Depending on the features of your plan, you may have one, both or neither of these methods available to you. As such, its important to review your plans Summary Plan Description and talk with your plan administrator, whose contact information is typically on quarterly statements, to determine which options may be available to you. In-plan Roth conversion: With an in-plan Roth conversion (or an in-plan Roth rollover), you convert your after-tax contributions (and any earnings generated on them) to a designated Roth account within your employer plan (often referred to as a Roth 401(k)). If your after-tax funds generated earnings, youll owe taxes on these amounts in the year you convert them.  In-service distribution: An in-service distribution is different because this method moves funds out of your 401(k) and into your IRA(s). To do this, you distribute the funds and roll them over to your Roth IRA. While you can send your entire distribution to your Roth IRA, you can also direct pretax and after-tax amounts to different IRAs. So, you can convert your after-tax contributions to a Roth IRA and send pretax amounts to a traditional IRA, which can be helpful when it comes to managing taxes with your strategy.  How do you manage the taxes with the mega backdoor Roth?When after-tax funds are converted or distributed from a 401(k), they consist of both after-tax contributions and pretax amounts. This is similar to the pro rata rule for traditional IRAs. Depending on whether your employer separately accounts for your after-tax amounts, the taxable and nontaxable portions of the distribution could be larger or smaller.As a result, its important to talk with your financial advisor and tax professional about ways to manage the taxes with the strategy. Strategies for managing your taxes with the mega backdoor Roth may include the timing of when you roll over or convert the after-tax contributions and separating pretax amounts from the after-tax contributions. Will the mega backdoor Roth strategy always be available? Theres no guarantee the mega backdoor Roth strategy will always be available. Congress recently considered legislation that would have eliminated this strategy. As of now, the mega backdoor Roth is still around, but no one can predict its future.The mega backdoor Roth strategy can be beneficial for investors but can easily become very complicated. As such, its important to discuss this strategy with your financial advisor to determine if it is right for you and, if so, how to go about implementing it.

Teams as invested in your goals as you areWhen you work with Edward Jones, you have an entire team behind you who cares as much about why you're investing as what you invest in.A financial advisor who knows who you areDown the street or just across town, Edward Jones offices are in your neighborhood, ready to serve you and the community. It's a personalized approach to investing, and it's what sets us apart.You'll work with your financial advisor one on one, supported by a branch office administrator helping you every step of the way. Your team will get to know you and your goals, helping you stay on track by building a deep relationship over time.You deserve more than a phone number when it comes to the future you hope to build. As your needs evolve throughout your life, we will strive to provide the products, solutions and experiences to help you achieve what's most important to you. Along the way, you'll benefit from the care, compassion and personal service only a dedicated team of professionals can deliver.The team behind your teamYou may never meet with them in person, but our more than 13,000 employees play an important role in serving you behind the scenes. Your extended team includes:Our Investment Policy Committee which is responsible for the oversight of the firm's investment guidance that is at the center of all the tools, systems and materials your financial advisor uses to help guide you toward reaching your goalsResearch analysts who have been recognized by such publications as Barrons and The Wall Street JournalStrategists and Analysts with expertise in portfolio strategies including retirement, health care, estate and legacy, charitable giving, personal finance and protectionEconomic and market professionals (frequent guests on Fox Business, Bloomberg and CNBC)Portfolio managers who manage, evaluate and monitor investment portfolios as part of the firms fee-based programsAnalysts who review products and services to ensure they meet certain quality standardsProfessionals with tax, legal and trust services expertiseInsurance specialists who understand and can advise on complex insurance solutions

As an experienced financial advisor, you know how to build a successful practice by supporting your clients through each stage of their lives, and its important to remember how long-term planning will apply to you and your business. Cerulli reports that 37.5% of industry financial advisors will likely retire during the next 10 years, and while the short-term priorities associated with running and growing your business might feel more urgent than planning for your future succession, preparation today can help provide a smooth transition for your clients and create an enduring legacy for your practice and preserve your reputation. At Edward Jones, succession planning for financial advisors is part of our commitment to supporting clients and colleagues alike.A Financial Advisors Roadmap to RetirementDeciding when its time to retire from your practice is not an easy decision, let alone managing the various influences you encounter in the early stages of planning. It takes time to get comfortable with your own succession plan and feel confident in your successors ability to maintain the level of service your clients have come to expect. At Edward Jones, we can help you implement a clear and comprehensive plan to alleviate these concerns.Our financial advisors are backed by firm support throughout their career trajectory at Edward Jones, which is why our structured framework for retirement transition plans is designed to empower financial advisors as they navigate their next chapter. Our roadmap thoughtfully lays out the six steps youll take through your retirement transition, from the inquiry and assessment stage through plan completion. This gives you the opportunity to assess the situation deciding when you want to retire and design the plan that works best for you.Just as we are there to support our financial advisors with coaching and peer support when building a practice, we are also there to provide the resources and guidance necessary for successful succession planning for financial advisors.Whether you are considering retiring within the next decade or beyond, at Edward Jones, we can help ensure your practice and legacy continue well into the future. David Chubak, principal, Head of the U.S. Business Unit and Branch Development, Edward JonesKeys to Success(ion)No one knows your clients and practice like you do. One way to ensure your clients are in the right hands is through a successor selection process that matches your clients with a financial advisor best suited to their needs. This a collaborative process, meaning you will play a pivotal role in ensuring the next generation has the tools and client know-how to succeed.It is important for you to share what keeps your practice going to help ensure its future success and maintain the momentum youve worked hard to create. From administrative needs to client nuances, equipping your successor with the right information makes all the difference. In fact, Edward Jones research shows that business owner clients need support with maintaining business continuity during the transition period (57%). We also found they need comprehensive planning and ensuring adequate resources for the transition (56%). Tackling these hurdles early through constant communication helps mitigate confusion for your successor and your clients.Whether you are considering retiring within the next decade or beyond, at Edward Jones, we support succession planning for financial advisors by helping ensure your practice and legacy continue well into the future.

Why Financial Advisors Should Prompt Families to Engage in Crucial Conversations Around Wealth TransferThe next two decades will be a defining period in the wealth management industry, with an estimated $84.4 trillion in assets being passed down by 20451 . With this unprecedented transfer of wealth, we will see older generations, like Baby Boomers and the Silent Generation, navigating discussions around plans for inheritance and the transfer of funds. As an industry, we have a responsibility to support our clients through this transition, connect with the next generation of clients and serve families in a way that is unique to their needs.Younger generations, like Gen Z, Millennials and Gen X, are expected to inherit immense wealth and will need support in managing their assets so they are set up for success in their lifetimes and beyond. Financial advisors should see this as an opportunity to build relationships with this next generation of clients by supporting them through this massive transfer of wealth. At Edward Jones, we are setting up our financial advisors with the tools and support to better serve their clients and to help them grow their financial knowledge so they have the opportunity to achieve what is most important to them.Bringing Conversations Around Wealth Transfer to the (Dinner) TableIf your clients arent already having these conversations with their families, its time to prompt them to do so. The good news is our recent research found that a majority of financial advisors surveyed across the industry (89%) report that their clients have a wealth transfer plan in place and nearly two-thirds of financial advisors (65%) say clients are bringing their children or parents to meetings to discuss their wealth transfer plans. Its promising to see clients engaging their families in these conversations, as earlier involvement creates a sense of trust and intentionality before the transfer takes place and helps set up younger generations for future success.Its also key to maintain an ongoing exchange with your clients and their families throughout this process to help ensure responsive action to changes in family dynamics, finances and more. Over three quarters (77%) of financial advisors say they discuss clients wealth transfer plans at least quarterly to stay on top of their long-term priorities. In times of transition, our role as a trusted guide to our clients is even more important. We understand that its nearly impossible to separate emotions from money, which further underscores why we enable our financial advisors to deliver comprehensive solutions and advice by providing personalized experiences, guidance and tools designed to help more people achieve financially what is most important to them.Digging Deeper on Values and GoalsWe know these conversations are also always changing and financial advisors acknowledge that their conversations with clients around inheritance have shifted in the past five years. For instance, 36% of financial advisors report their client conversations focus more on establishing and growing wealth to use during their lifetime rather than passing on or giving away their wealth. This is why building a deeply personal relationship with your client can help make sure youre building a comprehensive financial strategy that considers their life, values, goals, aspirations and risk.Clients and investors today are not just expecting best in class, they are looking for whats best in life. Thats why at Edward Jones, our financial advisors are focused on a holistic approach serving clients with trusted guidance that future generations should benefit from for years to come.By digging deeper into their values and goals, financial advisors can set clients up for success as they broach complex conversations with family around wealth transfer and inheritance.David Chubak, principal, Head of the U.S. Business Unit, Edward Jones

At Edward Jones we talk a lot about our collaborative vs. competitive culture. Its a difference Ive felt daily as Head of Branch Development and U.S. Business Unit, but Ive never felt it more deeply than in my recent branch experience.I had the opportunity to immerse myself in a branch and fill in for one of our Chesterfield, MO financial advisors for eight weeks. Working day in and out with our financial advisors, branch office administrators, and other Client Support Team members helped me see firsthand how our firms hardworking branch associates collaborate to support the real-time needs of our clients.Our shared purpose to partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society enables all Edward Jones associates to work together to make an impact.Collaboration within the BranchBuilding strong and lasting client relationships requires time and focus, and Edward Jones financial advisors are positioned for success thanks to our Client Support Teams within the branch.My team during my branch experience included client support teammates Linda Rupp and Becky Brums and I couldnt have done it without their support. In my first days at the branch, we made the transition to Salesforce and that migration was truly an all-team effort.The dedicated support of our Client Support Teammates means that Edward Jones financial advisors have the support they need to grow a practice that puts clients first.Support from the Home OfficeEdward Jones financial advisors have the freedom to build their own practice to best serve the needs of their clients, but that doesnt mean they have to go it alone. In fact, there are thousands of associates in the Home Office to support their success.In my experience, I not only leaned on the Home Office for support with things like technology and branch office facilities needs, but also bigger programs that are helping transform our branch offices. For example, with the support of the Home Office, now all Edward Jones financial advisors have tools to enable deeper discovery and more personalized experiences with clients, including MoneyGuide Elite and Portfolio Optimization to enhance outcomes like ongoing tax management.I had a client come into my office to get some advice, as he was preparing to propose to his girlfriend. So, as he was considering things like engagement rings and starting a new life with her, I was able to leverage our new tools like MoneyGuide to really dig deep, listen, and build on the great relationship he already had established with Edward Jones, to think through how we could support him from a financial perspective to give him the confidence he needed for this next big step in his life. He shared how he was thinking about his big proposal . . . and Linda and I shared some of our lessons learned, and followed up from our meeting with our own (slightly less exciting) portfolio rebalancing proposal!Edward Jones financial advisors have the freedom to build their own practice to best serve the needs of their clients, but that doesnt mean they have to go it alone.Advisor-to-Advisor ConnectionDuring my branch experience, I was also responsible for advancing the branchs client service and financial goals. I couldnt have done it without the mentoring and guidance I received from other financial advisors in my region. Since Edward Jones is collaborative, not competitive, I could reach out for support throughout my branch experience. I had two volunteer field trainers from my region roll up their sleeves alongside me to develop strategies for managing my time, thinking through capacity planning, and also on how to advance my judgment and instincts for portfolio planning and more complex subjects like retirement, estate considerations and so much more.In August, we had a few high volatility days and a number of challenging but rewarding conversations with clients who had very normal anxieties and questions around what to do. I never felt alone handling these challenging days I always felt part of a team laser-focused and fully committed to serving our clients with distinction and tremendous care.In addition to informal mentoring and collaboration, financial advisors in a region meet several times a year for in-depth discussions on business-building ideas, best practices and practice management. Edward Jones financial advisors also have the support of the regional leader a highly successful, well-respected veteran financial advisor committed to advancing the overall health and growth of the region.I couldnt be prouder to serve alongside more than 19,500 other financial advisors across Edward Jones who show up for our clients like we have the last 100+ years listening, connecting and providing sound advice. It was a profound reminder of the nobility of the profession, the distinctiveness of Edward Jones, and how the trusted relationships weve built help us make a difference in the lives of so many families across North America.

We are committed to growing our inclusive firm, advancing equity and inviting input from a broad range of perspectives to create more innovation and value, and our Business Resource Groups (BRGs) are one of the ways we bring that commitment to life.BRGs are firm-sponsored, associate-led affinity groups that contribute to the firms Diversity, Equity and Inclusion mission. They are integral to the transformation of Edward Jones, and are devoted to professional development and growth, associate recruiting and retention, and community engagement.In 2009, Edward Jones established the first group the Black/African American BRG and today all 12 of our BRGs are available for enterprise-wide membership.BRG members and allies come together to discuss their unique experiences, provide a space to celebrate shared passions and cultures, and provide co-hosted learning workshops and events year-round.Explore our BRGsParticipation in any of the BRGs can be as robust as is authentic to each associate. Membership and participation is voluntary. Associates can engage in these groups by sharing insights and knowledge about various cultures or groups, generating ideas to enhance the firms ability to attract and deepen a diverse client and associate base, as well as participating in networking and education events.AdaptABILITIESWorks to ensure Edward Jones is a firm that leverages each individuals strengths and abilities, regardless of apparent or non-apparent challenges, to better serve our clients and potential clients.Asian and Pacific Islander (API)Expands and highlights API associates and their contributions to the firms success by advocating for inclusion, celebrating individual differences and providing a platform to strengthen individual capabilities.Black/African AmericanServes a diverse client base by aligning strategies to firm priorities, increasing referrals, providing professional development and community involvement opportunities. The Black/African American BRG also works to identify cultural nuances and leverage perspectives of our diverse workforce.CaregiversCreates a greater level of empathy, understanding and support for caregivers inside the firm, as well as our clients. Works to create a place of belonging for all and stay true to our mantra of You Matter by increasing the firms awareness and support for associates who are caring for a loved one(s).GreenEngages a wide range of associates to promote education and advocacy surrounding issues pertaining to environmental sustainability, sustainable development, environmental justice and related health impacts.InterfaithCelebrates, supports and fosters understanding and acceptance of all faiths, those with no religious affiliation and spiritual diversity among our associates.LatinX/HispanicProvides personal and professional development opportunities for our Latinx/Hispanic associates and the communities we serve, while increasing cultural awareness across the firm.LGBTQ+ and alliesCreates ideas and activities that build meaningful experiences for all associates, clients, inside and outside the firm, through the lens of lesbian, gay, bisexual, transgender, queer/questioning, plus associates and LGTBQ+ allies.Military/VeteranProvides awareness and understanding of military members, veterans and military families situations while addressing their needs and presenting Edward Jones as an employment opportunity within their community.Remote connectionsFosters connectedness and career growth throughout the firm to break down locational barriers to create a place of belonging for home-based, hybrid, campus-based and field-based associates to connect with colleagues from across North America, both virtually and locally.WomenAdvocates for women within the firm by educating and empowering associates, facilitating connections among associates and firm leaders. The Womens BRG also provides leadership opportunities and champions an inclusive environment.Young professionalsEnables the firm to be the first choice of young professionals for their career goals and/or long-term financial needs.

Edward Jones has been named to Fortune magazines 2024 list of the Worlds Most Admired Companies, a recognition of the most respected and reputable companies globally. The firm ranked No. 5 in the Securities/Asset Management industry category and 175 overall.Positive impact manifests in a multitude of ways, including the delivery of goals-based advice to its 8 million clients across North America through the firms more than 19,000 financial advisors. The firm recently announced a multi-year transformation and $1 billion investment in human capital, technology infrastructure and strategic relationships, in an effort to serve its clients more completely through deep personal relationships and comprehensive planning and advice.As a firm, we have a responsibility to bring our clients and colleagues together to positively impact others lives. Being named among the Worlds Most Admired Companies is both a recognition of where we are and an inspiration for where we are going, said Ken Cella, Head of External Affairs.Beyond its work with clients, is Edward Jones commitment to its communities. Currently in 68 percent of all counties in the U.S., the firm is partnering for lasting financial strength, promoting healthier futures and advancing inclusive growth. Highlights include:Since 2020, the firm has reached 814,035 learners with free financial education, more than halfway to its goal of positively impacting 1 million learners by the end of 2025.The firm has raised more than $45 million since 2016 toward its goal of $50 million by 2025 for the Alzheimers Association in its fight to end Alzheimers disease.More than $46 million in corporate, Edward Jones Foundation and associate giving contributed to 6,000 organizations around the U.S. in 2023.Our commitment is to grow the impact were able to make for people across North America. Its deeply connected to 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.To create the ranking of Worlds Most Admired Companies, Fortune magazine and research partner Korn Ferry began with the 1,000 largest U.S. companies by revenue plus foreign companies listed in the Fortune Global 500 database. Using nine criteria, ranging from investment value to social responsibility, they whittled down to the highest-revenue companies in each industry, a total of 645 companies across 52 industries. A survey of 3,760 executives, outside directors and industry analysts determined the top-rated companies from that pool of 645. The final list was announced in January 2024.

A Unique Opportunity for Financial AdvisorsIn the world of financial services, recognition and rewards for outstanding performance are essential to motivate and inspire financial advisors to build successful practices. The Edward Jones Travel Award Program is one of a kind, offering a unique opportunity for financial advisors to relax, recharge, and share ideas with their peers. This unique program is revered in the industry, and its what sets us apart from competitors.A Travel Award Program with Purpose:The Edward Jones Travel Award Program was created with the aim of recognizing financial advisors who build and manage successful practices by helping their clients achieve their financial goals through a solutions-based approach. The purpose of the program is to:Provide recognition for all financial advisors who build a successful and sustainable practiceCreate an atmosphere that allows financial advisors to relax and rechargePromote the sharing of ideas, knowledge, and experiences among financial advisorsWhat Makes the Program Unique?The Edward Jones Travel Award Program stands out from competitors in several ways. Firstly, trips have the option of including family, which is rare in the industry. Secondly, it provides a cash alternative for those who prefer not to travel. During the pandemic, the program even offered a Personal Travel Award Card, which allowed financial advisors to use the funds for any travel-related expenses. Additionally, the program has never canceled trips during challenging economic times, demonstrating its commitment to recognizing and rewarding its financial advisors.With the Edward Jones Travel Award Program, there is no cap on the number of qualifying financial advisors with an average of over 60% qualifying over the last three years.Hear From Our Own Financial Advisors:I am incredibly grateful for the travel rewards program offered by Edward Jones. It has not only allowed me to explore new places and cultures but has also given me the opportunity to create unforgettable memories with my daughter that will last a lifetime. From our adventures in exotic destinations to the simple moments of togetherness, these experiences have strengthened our bond and enriched our lives in ways I never thought possible. Thank you for making it possible for us to share these precious moments and create a treasure trove of memories that we will cherish forever. Patty Krenos, Regional Leader, Financial AdvisorWe went to the Grand Caymans this past February. What made this trip unique is that we decided when each of our kids turns 10, we have 3, well take them on their own special trip without their other siblings. My daughter was the first to turn 10, so this was her trip with my wife and me. It was such a great trip being able to focus on just her for 7 days.-Jeff Springgate, Financial Advisor, Edward Jones

Financial advisors partner with individuals, families and businesses to meet their financial goals, while building partnerships and collaborating with others in the community.People trust financial advisors to follow regulations and use investment vehicles correctly. Thats why financial advisors must meet specific requirements, including taking exams to obtain registrations and licenses.While licensing and registration exams might sound intimidating, they dont have to be when you have the right support. Edward Jones supports new financial advisors from day one by providing a structured plan with a dedicated support person who will monitor your progress and provide study materials, guided webinars, and even compensation during the study period.What background and experience do I need to be hired as a financial advisor with Edward Jones?At Edward Jones, clients come first. This belief guides everything we do. We partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society.Its important we find people who share our client-first values, so our application and interview process are thorough. But for the right individual, its just the beginning of our commitment to your success.If youre considering becoming an Edward Jones financial advisor, you should have at least one of the following:Bachelors degree or equivalent work-related experience with a track record of successFinancial services and/or sales experienceFinancial services licensing or certificationProfessional and/or military career progressionYou dont need to know about financial advising to start, but you do need to have a history of increasing professional responsibility, a commitment to building lasting relationships, and a strong desire for performance-based compensation.In addition to experience and education, there are certain skills that help financial advisors achieve success in their careers.Financial advisors should be self-motivated and committed to their work. The ability to listen to people and be empathetic is also important. These skills will help you provide great service to your clients as you put together individualized strategies to help them achieve their goals.Critical thinking and decision-making skills are good to have. Its also important to be confident as you guide your clients through making big decisions that will impact their future.What registrations and licenses will I need to maintain?Financial advisors are required to have the following licenses:The General Securities Registered Representative Examination, which includes the Securities Industry Essentials (SIE) and Series 7The Uniform Combined State Law Examination (Series 66)State insurance licensing requirementsOther registrations that financial advisors may have include Series 6, Series 63 and Series 65 licenses.Edward Jones offers financial advisors educational support throughout their career, starting right at the beginning with the licensing exam. We provide exam preparation support with dedicated time to study so you can be confident when you sit for your registration and licensing exams.SIE and Series 7The Financial Industry Regulatory Authority (FINRA) administers exams and maintains registrations for the financial services industry. The SIE and Series 7 assess the competency of an entry-level registered representative to perform their job as a general securities representative.The SIE and Series 7 measure the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities representative.Questions on this test also cover knowledge of product information, documentation and processes to set up accounts.To be eligible to take the Series 7, you must be sponsored by a FINRA member firm. The Series 6 license is similar to the Series 7 but focuses on a smaller range of investment products.You must pass the Series 7 exam before moving onto the Uniform Combined State Law Examination to obtain your Series 66 registration.Series 66The Series 66 combines Series 63, the state law test for broker-dealer representatives, and the Series 65, which covers working in the financial services industry.The Series 66 registration is administered and maintained by the North American Securities Administrators Association (NASAA). This exam covers aspects of investment products, strategies and management as well as industry laws and regulations.If youre an experienced financial advisor coming to Edward Jones to continue your career, you must have a Series 7 and Series 63/65 or Series 66 registrations within three months of your hire. If you dont have your insurance license, it will also be required.For new financial advisors, Edward Jones will support you with exam prep, study resources and hourly compensation while you prepare to take your exams.Continued education is required by both Edward Jones and regulatory authorities. There is also required training to maintain registrations and licenses. A financial advisors registrations and licenses, provided theyre appropriately maintained, are valid if the advisor is employed with a financial services organization.How to prepare for the registration and licensing examsPreparing for exams is challenging and requires dedication. As an Edward Jones financial advisor trainee, youll have the support of our organization to help you succeed. Trainees commit a minimum of 45 hours, preparing 6 days a week over the study period for the exam.To help financial advisors prepare for and pass exams to obtain the SIE, Series 7 and Series 66, Edward Jones award-winning training program provides study guides and trainers to answer questions and help trainees work through the material.Preparatory classes live and available on demand help new financial advisors digest the exam material. Your study strategies will be personalized to you by an Edward Jones Study Specialist who will monitor your progress and help you adhere to the study calendar to make sure youre prepared for registration and licensing exams.Its important for new financial advisors to reflect on how they best learn and set aside the appropriate time to learn this required material.Am I a full-time Edward Jones employee while working toward registration and licensing?During onboarding, youll become a full-time associate of Edward Jones and will receive hourly compensation on a bi-weekly basis. This will allow you to focus on training and development as you study for your registrations and licenses and begin learning to build your business.Our award-winning training program* will teach you to set up a successful Edward Jones office and financial services career. Well connect you with other Edward Jones team members, including fellow financial advisors, so you can create a support network and learn from their experiences.Next Steps to Start Your Career as a Financial AdvisorAs an Edward Jones financial advisor, we help you locate and set up your office, including providing a branch office administrator to help run the day-to-day operations of your business.Starting out is both exciting and challenging. But just as we have been since you were hired, Edward Jones is here to support you. New financial advisors are eligible to receive a supplemental salary for up to four years as you build your business. Salary will decrease as your new asset compensation and commissions increase over the four years.Throughout your Edward Jones career, youll receive ongoing training and education. We support and foster continuous improvement within our team so you can better help your clients meet their financial goals.As a financial advisor youll bring your skills and experience together with our training to create opportunities for your community. Getting to this point is a journey, but Edward Jones is there to support you every step of the way. To learn more about becoming an Edward Jones financial advisor, visit our careers page.Interested in the Edward Jones Financial Advisor Opportunity?Learn more about starting a career as a financial advisor or start searching for opportunities now. If youre already licensed as a financial advisor, learn how were built to take your practice to the next level.*Training Magazine Training Apex Award 2000-2024, published January-March each year, data as of September of prior year, an application fee was required for consideration.