In the News
by Jack Sharry, FA Magazine
Edward Jones knows Main Street America like no one else. Advisors are active in and leaders of community organizations, from the Chamber of Commerce and Rotary to girls softball. They know their customers. And they continually find ways to serve them better—only now in the digital age. Any competitors who consider Edward Jones “sleepy” or “boring” do so at their peril. This is why I included them among four leaders—along with Morgan Stanley, Empower and Franklin Templeton—with the potential to become “the Amazon of financial services.” I’ve spent time with executives at these firms to get underneath their strategies. Each is responding in its way to a generational shift in what clients want and how advisors will work: Many call me crazy when I say Edward Jones is a transformational leader. They wonder if this 101-year-old firm measures up. But see for yourself and listen to my WealthTech on Deck Podcast with Ken Cella, head of branch development at Edward Jones, and Age Wave founder and CEO Ken Dychtwald. “We’re building out a renewed focus fueled by our purpose,” Cella said. Founded in 1922 by Edward D. Jones Sr., the company was a traditional broker-dealer based in St. Louis. Ted Jones, the founder’s son, broke new ground by selling securities door to door. John Bachmann became managing partner in 1980 and led the firm’s dramatic growth, expanding beyond small cities and towns to large metropolitan areas. Jones tripled in size in five years. With nearly 19,000 advisors and branches in 68% of U.S. counties today, Edward Jones is part of the fabric of the communities they serve. Cella said today’s changes are as consequential as those launched by Ted Jones and Bachmann. I believe what’s being built now will have an exponential impact. “We’re doing this with an outsized investment in people and an outsized investment in technology,” Cella said. Investing in people includes “providing the right support for women and people of color to join our firm.” The research Dychtwald and The Harris Poll conducted is in plain sight on Jones’ website. The study identified four pillars of retirement—family, health, purpose, and finances—and five forces shaping it: This research informs Jones’s strategy around training, operations, and technology. Advisors are trained in client conversations that explore what matters most and address worries about outliving savings, healthcare costs and family and legacy issues. “We found it has ignited a passion that already existed among our advisors,” Cella said, adding many were thrilled to expand conversations beyond fluctuations in the markets. Their tech transformation is expanding advisor capacity to attract and serve more clients and produce better outcomes as they embrace keener market segmentation and improve practice management. Because even with the firm’s sprawling geographic footprint, it serves only a fraction of the clients who could benefit from financial advice, Cella said. Jones is working with Envestnet|MoneyGuide to empower advisors to create comprehensive views of clients’ portfolios and optimize their financial plans. Capabilities to be added will enable advisors to improve outcomes across a client portfolio with the following: “Our transformation is not robotic. It is not about clients interacting with machines,” Cella said. “Our approach is human to human with strong technology in the background that supports that, but in an experiential-driven way.” Jones advisors have told Dychtwald their clients notice and like the change in their discussions resulting from the insight the research provides and training they’ve received. “I’ve had other financial advisors in my life. No one asked me questions” about family needs, purpose in retirement and worries about the future, Dychtwald said. “They just asked me about market risk and my age relative to retirement. Widening the discussion to more holistic concerns has yielded a great reaction from clients.” This article was published on Feb. 2, 2023 in FA Magazine.Leaders Set The Course And Get It Done
New Ideas Are Not New At Edward Jones
Retirement Redefined
Technology Enables Advisors
Heard From the Field
Awards & Accolades
For the 23rd consecutive year, Edward Jones has been recognized as a top training company, having been named to the 2023 Training APEX awards list by Training magazine. The award recognizes organizations worldwide that have the most successful learning and development programs. Edward Jones ranked No.14, up 10 spots from last year. Additionally, Edward Jones was recognized with a Best Practice Award for the firm’s JonesSpark program, an internal crowdsourcing tool to engage associates firmwide to help generate ideas and prioritize solutions to complex challenges. “We are intentional about investing in the learning, development and growth of our 50,000 associates,” said Suzan McDaniel, Edward Jones Chief Human Resources Officer. “From mentorship and job shadow programs to new learning platforms that help associates build life skills, our training helps all associates unleash their full potential and serve our 8 million clients – helping them achieve financially what is most important to them.” The Training APEX award evaluation process considers the success of a company’s overall training approach. Award criteria include training program and scope, budget, tuition reimbursement, infrastructure and delivery, evaluation and human resources. Edward Jones’ innovative training programs this year include: Company rankings for the Training APEX award were announced Feb. 13 at an awards gala during the 2023 Training Conference & Expo in Orlando, Fla.
The Financial Advisor Opportunity:
Sonia Rebollo McCloskey came to the United States after representing her country of Spain in the 1988 Olympics in Seoul, South Korea. With only $200 in her pocket and still in her teens, her family told her that going to America was her best opportunity for education and success. She lived with a host family and worked her way through college and eventually began a career in college recruiting with assignments overseas. In 2009, she left this position to seek a new challenge, but uncertain as to what that would be.
Upon leaving her position, she had acquired a small 401(k) account that needed to be transferred. “Not knowing what to do with such a thing, I went into this Edward Jones office and asked if they knew what a 401(k) was and if they could help me,” said Sonia. The financial advisor suggested that they set a time to meet. She also suggested that if Sonia was married, perhaps her spouse would like to join. “When my husband and I returned the next day, I was so impressed. Both the financial advisor and her assistant were so polite and accommodating. They seemed generally interested and wanted to make sure that I received their full attention. We learned so much more than just what a 401(k) was!”
“Edward Jones has taught me to listen better. Everyone’s story and purpose are different. Most firms cater to your ego, not to your heart. Here, we lead with our hearts, and it’s made me a better person.”
-Sonia Rebollo McCloskey, Financial Advisor
As Sonia jumped into her job search, she kept thinking about her Edward Jones experience. It just seemed like such a good match for Sonia’s talents. She knew she would have to learn investing, but she also knew she had all the other elements for success. “I wasn’t afraid. I knew if I could have the same discipline I had as an athlete, I could be successful at this too. After all, what’s hard about showing people how they can meet their goals?”
Since joining Edward Jones in 2010, Sonia has held several leadership roles within the firm in addition to managing a successful practice in the Denver area. She attributes much of her success to what Edward Jones has taught her about compassion. As she says, “Edward Jones has taught me to listen better. Everyone’s story and purpose are different. Most firms cater to your ego, not to your heart. Here, we lead with our hearts, and it’s made me a better person.”
Learn more about starting a career as a financial advisor or start searching for opportunities now. If you’re already licensed as a financial advisor, learn how we’re built to take your practice to the next level.
The Financial Advisor Opportunity:
As a successful estate planning and small business attorney in Atlanta in the early 2000s, Helen Rice‘s professional life was taking off. No doubt, she had a full plate as a single parent with two small children, but she was managing through it. “What energized me was being able to help people,” says Helen. Still, she was frustrated that her compensation was not directly factored on client outcomes. And this discontent was reflected in all aspects of her life. She knew she needed a change. “I knew I would be happier …. and more successful.. in all aspects of my life, if I was completely fulfilled by my work.”
Through her professional network, Helen became acquainted with an Edward Jones Financial Advisor. In their conversations, Helen heard some key aspects about this person’s career – it allows you to:
In 2013, Helen sat down with her boys, explained that she was ready to make this change. It would not be easy in the beginning, but together, as a family with love and support, she was confident they would all be happier in the long run.
“Edward Jones is not your typical investment firm. There is such great support here…. especially from your fellow advisors. We really care about each other, and we want to be successful together.”
-Helen Rice Lake, Financial Advisor
Today, Helen’s practice is soaring with over $150M in assets under management and a client experience rating that far exceeds expectations. She attributes much of her success not just to her new career choice, but more to where she has chosen to practice. “Edward Jones is not your typical investment firm. There is such great support here…. especially from your fellow advisors. We really care about each other, and we want to be successful together. I consider some of my work colleagues to be my closest friends. In fact, the person who gave the toast at our wedding is now also my regional leader!”
And Helen’s sons? Their thoughts on their mother’s career journey can best be described this way. When Helen took them on their first Edward Jones Travel Award trip to Maui, her seven-year-old said, “Mom, I really like your new job!”
Learn more about starting a career as a financial advisor or start searching for opportunities now. If you’re already licensed as a financial advisor, learn how we’re built to take your practice to the next level.
The Financial Advisor Opportunity:
If anyone was equipped to quickly climb the corporate ladder, it was Cindy Jones. She started her career in the late 1980s as a CPA and within twenty years, she was leading a financial reporting team for a multi-national oil and gas company. Despite the long hours and overseas travel, she was proud of her professional achievements. And then, an unexpected turn of events in her personal life made her rethink those perceived goals.
2011 was a turning point for Cindy. Her father passed away, and her daughter was in high school. “Losing my dad made me realize that I may have missed some special last visits with him. Moreover, it woke me up to realizing that I only had a year to have my daughter at home, and I should be sharing as much time as possible with her right now.”
Cindy was ready for the change, but uncertain what that meant. She did a full self-assessment – where was she her best self? What were her strongest skills and talents? It soon became clear. Two characteristics resonated – she wanted to interact directly with people and to find solutions for complex situations.
“After my father’s funeral, I started a discussion with one of the pallbearer’s who was my father’s financial advisor and trusted friend. I shared that I was considering going back to school for physical therapy,” said Cindy. Before she knew it, they were talking about why he loved working for Edward Jones and suggested she consider becoming a financial advisor. “It was the most moving experience – he was saying all the things that I was seeking, like ‘Being a financial advisor at Edward Jones allows you to build a business your way and on your terms. You decide how much you want to give it, and you see the rewards directly from your work. Most importantly, you see the satisfaction from helping others solve problems and achieve their goals.’
“That day was a turning point. From there, I started learning as much as I could about financial advising. It didn’t take me long to realize that the Edward Jones business model was unique in their client-centric approach and their supportive firm culture.”
Cindy opened her Edward Jones office in a suburb of Houston, Texas in January 2012, ironically on her dad’s birthday. Ten years later, she is experiencing great success with over $230M in assets under management. No doubt, starting her own practice was hard work, but for her, she was already accustomed to it, and this time more passionately committed.
“The meeting back in 2010 with that Edward Jones Financial Advisor put me on a whole new path, and I’m so grateful. It opened up a whole new world for me. I’ve never been happier both personally and professionally.”
Learn more about starting a career as a financial advisor or start searching for opportunities now.
The Financial Advisor Opportunity:
In this podcast episode, Fairygodboss Diversity Advisor Aisha Alleyne sits down with Katie Warchol, an Edward Jones financial advisor, to hear how she has found purpose in a reinvented career. Katie shares advice on how to navigate a career change and how to recognize your transferable skills.
Since 2006, Katie has been working for Edward Jones; a company she believes truly understands what it means to serve clients, the community and the individuals who work for this outstanding firm.
Prior to Edward Jones, Katie was a counselor at St. Louis University. She has a master’s degree in counseling because from a young age she always had a desire to help people. During her first eight years at Edward Jones, Katie had the opportunity to work at both the St. Louis, MO and Tempe, AZ home office locations where she trained hundreds of financial advisors and branch teams throughout the country. After years of training financial advisors and watching them make a difference in their clients’ lives, Katie realized that a career as an Edward Jones financial advisor would bring her back to her passion of helping people in the most direct and impactful way.
I get to leave the world a little better than how I found it, and I get to make a difference in my client’s lives.
-Katie Warchol, Financial Advisor
Since 2014, Katie has used her counseling experience, empathy and empowerment skills to help individual investors and business owners achieve their goals. She also enjoys working with employers that offer 401(k), 403(b), Simple IRA or SEP IRA retirement plans to their employees. As her dad was a small business owner, Katie understands the importance of providing education and service to local businesses and their employees.
When not in the office, you are most likely to find Katie traveling the world. In addition to her wanderlust, Katie is a passionate volunteer for the Animal Protection Agency and a fervent supporter of the United Way. She is also a certified yoga instructor (RYT® 200), loves cheering on the St. Louis Blues and spending quality time with her family and friends.
You have a few of options: download the podcast (21 mins), and start listening right away, listen on Apple Podcast or listen on Spotify.
This content was originally featured on Fairygodboss.
Awards & Accolades
For the 12th time, Edward Jones Ranks “Highest in Employee Advisor Satisfaction Among Financial Investment Firms” by J.D. Power.
Based on responses from Edward Jones financial advisors, the firm earned an overall score of 890 points out of 1,000. This compared to the average score of 743 among the eight employee-channel firms measured by the J.D. Power 2021 U.S. Financial Advisor Satisfaction Study.
“This is a tremendous honor because it embodies our purpose of partnering to make a positive impact in the lives of our clients and colleagues, and together, benefit our communities and society,” says Kristin Johnson, Chief Human Resources Officer and Chief Transformation Officer for Edward Jones. “It’s been a challenging year for many investors, and our financial advisors, branch office administrators and home office associates have really come together as one Edward Jones team to serve our clients’ needs in a comprehensive way. This has included going beyond finances to focus on the well-being of our clients and their families, their health and yes, connecting with their purpose.”
This is a tremendous honor because it embodies our purpose of partnering to make a positive impact in the lives of our clients and colleagues, and together, benefit our communities and society.
-Kristin Johnson, Edward Jones Chief Human Resources Officer
Between January and April 2021, financial advisors were asked to rate their firms in terms of leadership and culture, products and marketing, professional development, operational support, technology, and compensation. Edward Jones ranked No. 1 in products and marketing, compensation and professional development.
“We are a place of belonging at Edward Jones – a welcoming and productive environment where people feel comfortable to bring their full selves to work and all can achieve their full potential – inclusive of their different backgrounds and experiences,” Johnson added. “That feeling of belonging translates into supportive behaviors such as willingness to recommend. It also is what enables our firm to grow its impact and add value to our clients, colleagues and communities.”
Edward Jones received the highest score among employee advisors in 12 J.D. Power advisor satisfaction studies, which were completed in 2007, 2008, 2010, 2012-2015, 2017-2021. The J.D. Power U.S. Financial Advisor Satisfaction Studies of employee advisors’ satisfaction is distributed among those who are employed by an investment services firm. Visit jdpower.com/awards for more details.
“The consistent success of Edward Jones in this study since it was first launched back in 2007 is a great testament to their organization’s commitment to delivering a superior experience to the advisor,” said Michael Foy, Senior Director and Head of Wealth Intelligence at J.D. Power.
The Financial Advisor Opportunity:
Applying for your dream job doesn’t have to be intimidating. Use these tips to help you decide if you should apply now or take some time to improve on necessary skills or experience for the position.
Do you meet at least 70% of the job qualifications? If you are confident in the relevant skills you possess, then apply. Use your cover letter to inform the potential employer why you’re interested in learning skills you may be lacking.
If the job you want requires more experience then you have, look at where you fall short. If you’re only one or two years short, apply — especially if you have many of the skills required.
Can you learn key skills for this position on the job or through personal learning? If you can gain these skills while maintaining strong performance at work, now might be the right time for you to apply.
Applying for a new job isn’t just about skills. When it comes to searching for a new employer, it’s also important that you are a good fit with the company’s culture. Look at the company’s website or social media and talk to any employees you know that work for their company. You can tell a lot about a company’s values and culture through these sources. Before you apply, make sure this is an environment that would help you thrive.
Following these tips can help you confidently apply for the next step in your career. Take time to evaluate what skills you may need moving forward to help guide you on the right path. Exploring new opportunities is an exciting time and can open your eyes to what you want in the future.
The Financial Advisor Opportunity:
Considering a Financial Advisor career with Edward Jones? Hear from some of our current Financial Advisors about the position and the career path they took to build a successful practice.
Nanette was looking for more meaning in her career than what being an Attorney provided. What she loved about it was helping people: that’s what drew her to the profession. But after she helped them she didn’t get to see the good that followed. After becoming a financial advisor she was able to experience the client benefits before, after and in-between. Instead of transactional connections, she was building life-long relationships.
“I honestly thought I was just going to tough it out, I didn’t want to go back to school. I wanted to work for a company that was ethical and had a great culture. Additionally I was transitioning away from a career I worked so hard for, but when I asked myself what mattered the most to me and the value of my work, it was the people I was helping. So I looked at other companies, but when I came across Edward Jones it was the perfect fit. I liked the idea of having my own business but not having to worry about the logistics of location, real estate, etc.”
“Listening. Reading. Spotting issues. As an attorney I needed to listen really well to understand each client and spot the issues to determine if there was a case. Now as a financial advisor, I listen closely to understand client’s goals and issues to determine their best investment path. The reading portion is important because you have to continue to learn and stay on top of what’s happening in the industry, you need to fully understand the situation to articulate changes to your clients. Lastly, spotting issues is a huge benefit. When a client is telling me their history, I can pull out the key pieces to provide them the best help and get them on the right path.”
“The long term relationships. I wanted to make an impact and be an important part of my client’s lives. Being there for them for years and years is a pretty awesome thing. Also being part of the community stands out to me; it was hard work building my business, but getting involved in the community and chambers it didn’t feel like work, it was a building relationship career.”
If you’re ready for a challenging yet rewarding career as a financial advisor, you can learn more about the opportunity or apply now to connect to a recruiter near you.
The Financial Advisor Opportunity:
Considering a Financial Advisor career with Edward Jones? Hear from some of our current Financial Advisors about the position and the career path they took to build a successful practice.
Becca was an insurance agent which provided her the ability to help people and have meaningful conversations which she truly enjoyed. Changes in the company resulted in removing those conversations out of her responsibilities, so she knew a change needed to take place. When a few life-changing events impacted her family and life, she reflected on what she really wanted to do day-in and day-out. After talking to her job coach and visiting with several Edward Jones financial advisors, she decided to join Edward Jones.
“I really wanted to continue providing the financial guidance I liked so much. I often share the story of my mother who was a secretary and someone told her early on she needed to contribute to her IRA so she did. Then someone suggested it’s important to have life insurance, so she bought the protection. She became ill but was still able to retire because of the guidance she received, and she was able to leave a legacy behind. As an Edward Jones financial advisor I’m privileged to do what those people did for my mother… which makes every day a good day.”
“I’m not sure I would call it a talent, but more of willingness; the willingness to have those tough conversations about real life enables me, to not only be successful, but most importantly build meaningful relationships with my clients…they are like family. Also, my past career taught me you must put in the hard work to get results. It can be stressful but, I am happy every single day.”
“The culture. Even at the very beginning, the way I was treated and welcomed, I said to myself I made the right decision, their culture fits my beliefs. Edward Jones recognizes the hard work and contributions of their financial advisors. Everyone I talk to is helpful, from the home office to the other financial advisors in my community – everyone.”
If you’re ready for a rewarding career as a financial advisor, you can learn more about the opportunity or find an opportunity near you to connect with a recruiter.
Copyright © 2023 Edward Jones.
At Edward Jones, we are building a place where everyone feels like they belong. Our human-centered culture calls upon us all to treat every individual with dignity and respect while celebrating what makes us unique, which we show as an equal opportunity employer committed to diversity, equity, and inclusion. Edward Jones does not discriminate on the basis of race, color, sex (including sexual orientation, gender identity and pregnancy), religion, national origin, age, disability, veteran status, genetic information, citizenship status or any other basis prohibited by applicable federal, state, provincial, or local law in employment decisions such as hiring, compensation, benefits, transfers, promotions, leaves, training, performance expectations, development opportunities, and corrective action. Qualified applicants with arrest and/or conviction records will be considered for employment in a manner consistent with applicable federal, state, or local law, including but not limited to the St. Louis "Ban the Box" law, the San Francisco Fair Chance Ordinance, the Los Angeles Fair Chance Initiative for Hiring and the New York City Fair Chance Act.
Edward Jones is committed to providing accessible employment and developing an inclusive culture. Should you require accommodation at any time in the application for employment or during your employment, please contact us at hqfeedback@edwardjones.com.