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Edward Jones Named on the 2022 Best Workplaces in Financial Services & Insurance List by Great Place to Work® and Fortune® magazine

Edward Jones has been named on the “Best Workplaces in Financial Services & Insurance” list by Great Place to Work® and Fortune magazine.

The survey found that 91% of Edward Jones associates said Edward Jones is a great place to work. This number is 34% higher than the average U.S. company. For 100 years, Edward Jones has been a place where individuals and their contributions are valued and respected. A reflection of its shared values and purpose, the firm is proud of this recognition.

“To make a meaningful difference for our clients, colleagues and communities, we focus on being human-centered and purpose-driven, both of which contribute to making Edward Jones a great place to work,” said Kristin Johnson, Edward Jones Chief Transformation and Human Resources Officer.

The Best Workplaces in Financial Services & Insurance is highly competitive and the award is based on analysis of survey responses from more than 176,000 employees across the U.S.

The Great Place to Work award also selects winners based on how fairly employees are treated. Companies are assessed on how well they are creating a great employee experience that cuts across race, gender, age, disability status or any aspect of who employees are or what their role is.

“Edward Jones is a place of belonging, a place where we come together to help people achieve what matters most.”

-Jennifer Kingston, Head of Enterprise Diversity, Equity and Inclusion (DEI)

“This year, we renewed our five-point commitment to address racism and positively impact opportunities for people of color, we are diligently focused on continuing to make progress toward our diverse representation goals among our financial advisors and firm leadership by 2025, said Jennifer Kingston, Head of Enterprise Diversity, Equity and Inclusion (DEI).”

For more on how Edward Jones is creating a place of belonging, please see the fourth-annual Purpose, Inclusion and Citizenship Report, “Partnering for Positive Impact,” which showcases the firm’s year-end 2021 achievements and how it works to improve the lives of its clients and colleagues, and together, better its communities and society.

The Best Workplaces for Financial Services & Insurance, announced in September 2022 and based on data as of August 2021, is one of a series of rankings by Great Place to Work and Fortune. In 2022, Edward Jones also ranked No. 35 on the 100 Best Companies to Work For list, the firm’s 23rd year on the list, and No. 3 on the 100 Best Workplaces for Millennials list. Additionally, the firm was named as one of the 2022 World’s Most Admired Companies. (Sources: 100 Best Companies announced April 2022, data as of August 2021; Millennials announced July 2022, data as of March 2022; Most Admired in partnership with Korn Ferry, announced February 2022, data as of November 2021).

©2022 Fortune® Media IP Limited. All rights reserved. Used under license. Fortune® and Fortune® Media IP Limited are not affiliated with, and do not endorse the products or services of, Edward Jones & Co., L.P.

2022 Fortune Best Workplaces in Financial Services and Insurance, published Fortune September 2022, research by Great Places to Work, data as of August 2021. Compensation provided for using, not obtaining, the rating.

Serving Clients More Completely Starts with Flexibility, Autonomy and Choice for Branch Teams

July 11, 2022/in /by Christian.Bruner

Experienced Financial Advisor

Serving Clients More Completely Starts with Flexibility, Autonomy and Choice for Branch Teams

by Ken Cella

Clients are changing in unprecedented ways. What they need, what they value, and what it takes to help them is all very different than it was just a handful of years ago.

Financial advisors are changing, too. They are deepening the ways they serve their clients, offering enhanced products and services, technology tools, and advice and guidance that can help turn clients’ life plans into financial plans.

But delivering comprehensive wealth management is more than a set of capabilities. Our research shows that most people want their financial advisor to act as a “financial guide” who helps them achieve their goals, as opposed to an “investment advisor” who strictly makes recommendations about investments. To do that requires a human-centered approach where the comprehensive advice being delivered includes all financial and wealth management needs based on an intimate understanding of the client’s life, their values, needs and goals.

For the client experience to be exceptional, the branch experience also needs to be exceptional.
Some of the things we learned from the 2022 J.D. Power U.S. Financial Advisor Satisfaction Study that are hallmarks of an ideal branch experience are:

Professional development and leadership – This includes an opportunity to learn both hard and soft skills from peers as well as veterans in the industry in a supportive culture. It also includes leadership opportunities for financial advisors beyond the branch to support their clients, colleagues and communities in living out their personal purpose.
Compensation – Should be competitive, transparent, and driven by the financial advisor’s success. Where how much financial advisors earn is determined by them – their business plan, their drive and how deeply they serve their clients.
Practice Optimization – In their 2022 study, J.D. Power noted the strong correlation between financial advisor satisfaction and effective operational support. Firms that invest wisely in practice management often create advocates among their financial advisors. An optimized set of services, coordinated support of people, and smart processes can help financial advisors grow their practices and serve clients more comprehensively.
Flexibility and Choice – Financial advisors want options that allow them to run their branch offices as they prefer. This includes multiple teaming options to meet the diverse needs of financial advisors and new roles such as a registered branch associate that can add capacity and lead to more time spent serving clients and investors.

We were pleased to be ranked no. 1 for our 13th year on J.D. Power’s 2022 U.S. Financial Advisor Satisfaction Study. We’ve learned a lot over the years, and we will never stop looking for new ways to serve our branch teams. By offering flexibility, choice and autonomy, firms can create long-term value for their financial advisors and their clients leading to an exceptional experience for all.

This article originally appeared on Financial Advisor Magazine.

2022 Highest in employee segment of JD Power U.S. Financial Advisor Satisfaction Study, published JD Power July 2022, data as of May 2022. Compensation provided for using, not obtaining, the rating..

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Edward Jones Financial Advisors Rate Firm Highest in Overall Employee Advisor Satisfaction, According to J.D. Power

July 7, 2022/in /by Christian.Bruner

Awards & Accolades

Edward Jones Financial Advisors Rate Firm Highest in Overall Employee Advisor Satisfaction, According to
J.D. Power

Edward Jones has been ranked Highest in Employee Advisor Satisfaction among Financial Investment Firms, 13 Times in a Row.

Based on responses from Edward Jones financial advisors, the firm earned an overall score of 876 points out of 1,000. This compared to the average score of 745 among the eight employee-channel firms measured by the J.D. Power 2022 U.S. Financial Advisor Satisfaction Study^SM. Results of the survey were announced on July 6, 2022.

“Our firm is built on relationships, and we invest deeply in them,” said Ken Cella, head of Branch Development at Edward Jones. “Our nearly 19,000 financial advisors are human-centered in their approach and in more communities than anyone in our industry. These unique differentiators enable them to serve, guided by our purpose, values and mindsets that are the hallmarks of our first century in business. Our financial advisors know their clients best: what they need, what they value, and what it will take to help them achieve financially what is most important. We’ll continue to offer our financial advisors flexibility, choice and support to serve their clients and their communities.”

Celebrating its Centennial in 2022, Edward Jones is accelerating its journey and aspiration to deliver human-centered complete wealth management to its current and future clients. The firm is looking to advance its purpose to make a greater impact by providing personalized experiences, guidance and tools designed to help more people achieve financially what is most important to them.

We’ll continue to offer our financial advisors flexibility, choice and support to serve their clients and their communities.

-Ken Cella, Head of Branch Development at Edward Jones

Between January and May 2022, the J.D. Power survey asked financial advisors to rate their firms in terms of leadership and culture, products and marketing, professional development, operational support, technology, and compensation. In addition to ranking No. 1 overall, Edward Jones ranked No. 1 in professional development and compensation.

Edward Jones has been the top performer among employee-channel firms in 13 J.D. Power advisor satisfaction studies, which were completed in 2007, 2008, 2010, 2012-2015, 2017-2022.

For J.D. Power 2022 award information, visit jdpower.com/awards.

2022 Highest in employee segment of JD Power U.S. Financial Advisor Satisfaction Study, published JD Power July 2022, data as of May 2022. Compensation provided for using, not obtaining, the rating.

Proud to be at the top of the lists for ‘Best Advisor Pay’ ranking

June 9, 2022/in /by ndowney

Awards & Accolades:

Proud to be at the top of the lists for ‘Best Advisor Pay’ ranking

In May 2022, Financial Planning listed Edward Jones as the number one firm for Best Advisor Pay for $2M, $1M and $600K producers and second for the $400K producer.

See how Edward Jones compares (PDF)

Each year Financial Planning’s parent company, Arizent, invites leading investment firms to submit their advisor compensation data then enlists the independent consulting services of Tasnady Associates to provide the analysis of base pay for advisors. Their report provided payout rates at four levels of production, $2M, $1M, $600K and $400K and broke out the firms into two segment types – wirehouse or national and regional broker/dealer. This year Edward Jones ranked #1 in three production levels ($2M, $1M and $600K) and #2 at the $400K level – across both national and regional broker/dealer and wirehouse firms.

This outstanding ranking is commensurate with our firm’s entrepreneurial business model allowing our financial advisors to build their businesses their way.

“At Edward Jones, you run your own office, set your own goals and partner with clients on achieving their financial and life goals – and your compensation will reflect your success in those efforts.”

-Ken Cella, Principal, Branch Development

In addition to providing our financial advisors with the autonomy to set their own goals, Edward Jones also rewards our financial advisors as they earn them. Bonuses are not deferred and paid at year end; instead, they are paid every trimester.

Competitively speaking, Edward Jones has one of the top compensation structures in the industry.

See how Edward Jones compares (PDF)

Important Information:
To help advisors make sense of it all, Financial Planning presents this annual analysis of core compensation components at wirehouses, national and regional broker-dealers. Company data compiled by Arizent; analysis by Tasnady & Associates. Data as of December 2021. Source: Financial-planning.com (May 2022). Neither Financial Planning, Arizent, nor Tasnady & Associates receive compensation in exchange for placement on the ranking.

The Importance of Supporting Local Communities with a Spirit of Caring

May 11, 2022/in Optional, Optional, Optional, Optional, Optional, Optional, Optional, Optional, Optional /by Christian.Bruner

Experienced Financial Advisor:

The Importance of Supporting Local Communities with a Spirit of Caring

Read the transcript or view the audio described video.

Watch as Spirit of Caring award recipient Financial Advisor Thomas Scott discusses the importance of community – both inside and outside the firm. See how Edward Jones embodies this community mindset and the spirit of caring.

Spirit of Caring Award At Edward Jones, we’re all about making a difference. In the lives of our clients – and our people. We draw strength and inspiration from one another and celebrate our individual contributions. Together, we have an ability to impact and enable future generations. Edward Jones embodies a community mindset and the Spirit of Caring. Since 2010, the annual Ted Jones Spirit Award has gone to one financial advisor and one branch office administrator in every one of the firm’s regions who best exemplify Edward Jones values, culture and spirit of giving back.

Hometown communities are vital to the success of Edward Jones. So, when one of our financial advisors devotes their life and practice to supporting their hometown, our purpose and spirit of caring really come to life. To say Thomas is involved in his hometown is, well, an understatement.

“Well, it’s a lot! I sit on the Board of Directors for the YMCA. I’m a commissioner for the zoning and planning commission for the city.” Thomas went on: “I’ve been on the Chamber of Commerce board of directors for quite some time. I serve on the advisory board for a local bank here in Zachary. And I play the organ currently in four different churches. Oh, and I’m the radio call for the Friday night football games.”

Being an active part of his community has always been important to Thomas. From the beginning, he would show up at community events just to talk to people, building connections and relationships. It’s a mindset and a practice he’s extended across his region, serving as a mentor to many within the firm.

“People that look like me, we traditionally aren’t investing. People of color, diverse individuals, we don’t talk about stocks or investing or money, and I want to change that. It starts with education. And after education, it’s about bringing along your peers, helping people out, giving more people an opportunity to learn and having a seat at the table.”

-Thomas Scott Jr., Financial Advisor

Thomas shared what he sees as the foundation for caring at the firm: “The spirit is really Ted Jones. It’s how he looked at business, how he looked at the community. When you talk about the spirit of caring, you want to take that to every person you meet. You want every person to see you for who you are, not only what you do.”

Our purpose to partner for a positive impact is presented in the annual Purpose, Inclusion and Citizenship Report, “Partnering for Positive Impact.” The report showcases the firm’s year-end achievements and how it works together to improve the lives of its clients and colleagues, and together, better its communities and society.

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 you’re already licensed as a financial advisor, learn how we’re built to take your practice to the next level.

Investor Expectations Are Changing

March 17, 2022/in Optional /by Christian.Bruner

Experienced Financial Advisor:

Investor Expectations Are Changing

by Ken Cella

Investors have certainly been faced with disruptive economic conditions over the past year. What is most concerning is that disruptive conditions in the economy can make us reconsider investments and drive emotional changes that can severely impact our financial health.

A recent survey conducted by Edward Jones with Morning Consult confirms that Americans are split on how we view the current U.S. economy. While 45% of us are optimistic about the direction the economy is headed, nearly as many (42%) are pessimistic. The top concerns survey participants cited include:

Rate of inflation- 83%
Supply chain disruptions- 77%
Employment rate – 71%
Interest rates – 71%

The more concerned adults are with economic conditions, the larger the impact on their financial decisions. According to our survey, one in five Americans admit to primarily making emotional decisions when it comes to their personal finances. This figure is higher among Gen Z investors where more than one-third said they have primarily made financial decisions based on emotion. It’s important to remember that while an overly negative view of the economic outlook can result in an emotional sell off of solid investments, an overly optimistic view can result in more risky investment buying. Either action can have a negative impact on an investor’s financial goals.

“As we enter the fall giving season, we have a great opportunity to partner with our clients to determine the appropriate giving strategies for them.”

-Ken Cella, Principal, Client Strategies Group

The good news is that despite the ongoing economic uncertainty, most consumers (79%) have made carefully planned financial decisions over the past nine months. When asked what factors they consider, 30% of respondents said careful financial preparation, 23% seek advice from friends and family, 23% watch the market, and 22% seek advice from a financial advisor.

However, investors’ needs from their financial advisors are changing. More than half of Americans point to a variety of factors, including COVID-19, interest rates, and the unemployment rate, as impacting their expectations for their financial advisor. This figure increases to 75% for Millennials working with financial advisors.

Financial literacy is another factor contributing to changing investor expectations. According to our survey, there is a gap in economic and financial knowledge, leaving nearly a third of Americans feeling less than confident in their economic literacy. Trusted financial advisors can play a key role in building financial knowledge and confidence – two important building blocks for financial resilience.

Many emotions impact financial decisions including stress, anxiety, frustration, concern, disappointment, and excitement. Those who work with a financial advisor tend to find comfort in the financial advisor’s knowledge and experience – helping them feel more informed and less stressed and frustrated about their finances. For financial advisors, this is a time to lean on the deep, trusted relationships they’ve built with clients.

As financial advisors, we believe we have a responsibility to put clients first, educating them on how the market works and reassuring them that continuing to follow a well-thought-out strategy is the one of the best ways to help weather the storm. We know how important it is to not let fear or anxiety about market volatility, or eagerness to invest, derail long-term goals. That’s why at times like these, it’s that much more important for investors to have a financial advisor to help them stay focused on financial outcomes based on their on long-term goals.

How New Digital Tools Are Enhancing The Client Experience

March 2, 2022/in /by Christian.Bruner

Experienced Financial Advisor:

How New Digital Tools Are Enhancing The Client Experience

by Richard Yang

The speed at which technology in the world of financial services industry has advanced and evolved is breathtaking. Even prior to the Covid-19 pandemic, it was engaged in a digital transformation. But, as it has in so many industries, the pandemic sped up the timetable for adaptation.

Evidence of that movement can be seen in the results Edward Jones’s multiyear, $500 million investment to modernize our technology and deliver differentiated business capabilities. It began in 2018 and today we’re seeing strong returns from that investment.

In 2021, for instance, more than 2.5 million people visited us online and roughly six in 10 of our financial advisors adopted the most popular of our Virtual Business Enablement tools, including custom web pages and our social media management platform.

Ultimately, however, it’s important that digital tools act as a complement to what our financial advisors have always done—build deep, personal relationships with clients. In a recent Edward Jones client survey, more than four in five respondents noted they would prefer to work with a human financial advisor, compared to just 17% who said they would prefer consulting a robo-advisor. To that end, our technology initiative has created tools that aim to streamline processes and maximize efficiency to enable our financial advisors to spend high-quality time with clients and enable greater connectivity between the branch teams and clients. The tools have not only helped attract new clients to the firm, but enhanced the experience for our existing ones. Here are some specifics.

Enhancing the client experience

In addition to phone calls, emails, written communication and in-person meetings, we now connect with investors through social media. Since launching in 2021, about two-thirds of our nearly 19,000 financial advisors are communicating with clients and meeting prospective clients on our new social media management platform and they have already shared content more than two million times, with 6.7 million unique engagements. In 2021, our redesigned website, EdwardJones.com, has seen a 38% increase in organic sessions compared to the end of 2020.

“It’s important that digital tools act as a complement to what our financial advisors have always done—build deep, personal relationships with clients.”

-Richard Yang, Principal, Client Attraction Group

Boosting advisor success

Webinar Hub, launched in July 2020, offers engaging, interactive online events. Created and delivered by the Edward Jones Home Office, Webinar Hub makes it easy for financial advisors to invite and engage prospective clients and current clients to uncover new opportunities to serve their needs. Nearly 70% of our financial advisors are using the Webinar Hub to reach far bigger audiences than they could have reached in-person and participation data aids their follow-up. Attendance at the sessions has soared more than 700% since the beginning of the pandemic.

Attracting new clients

Two tools aimed at potential clients are also making a difference. Starting Point and My Priorities, quizzes that can be found on the website, let prospective clients identify their most important financial goals and then translate those goals into an overall financial strategy. Both tools allow Edward Jones create personalized links between the prospective client and a branch office. We’ve found that clients who engaged with Starting Point converted at a faster pace than those who did not. With LinkedIn Sales Navigator, more than 7,000 of our financial advisors can identify prospective clients through shared connections. In all cases, the tools create more touch points to attract new clients and deepen our relationships from the start.

Notably, the digital transformation at our firm has been, in part, driven by our clients, who both need and expect such enhanced experiences. In a recent Edward Jones survey on the digital client experience, 95% of investors said it’s important that their financial advisors use the latest technology and tools when advising them. And it’s not just young investors who feel this way—clients of all ages (18-65 years old) have heightened expectations in this area.

As the public appetite for digital tools continues to increase, financial advisors must remain committed to giving investors what they want, while continuing to preserve what has always lay at the heart of our business—human relationships.

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 you’re already licensed as a financial advisor, learn how we’re built to take your practice to the next level.

Richard Yang is a General Partner in Client Attraction Marketing at Edward Jones. A financial services and digital marketing veteran, Yang leads Edward Jones’ firmwide and branch-level client attraction efforts and plays a key role in accelerating the firm’s digital transformation.

New Incentives for Retirement Savings

February 2, 2022/in Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor, Experienced Financial Advisor /by ndowney

Experienced Financial Advisor:

New Incentives for Retirement Savings

by Ken Cella

Two women walking in park briskly and talking

The new year often comes with a renewed commitment to getting healthier physically and financially. Both are important goals throughout life and, together with a sense of purpose and family relationships make up The Four Pillars of the New Retirement. While retirees in our research studies with Age Wave tell us all four pillars are essentially equal in importance for living well in retirement, the most recent survey delivered some sobering news about the financial pillar.

Perspectives on Retirement Planning

Data from our 2021 survey, in partnership with Age Wave and The Harris Poll, suggests a significant disconnect between what retirees say is important in preparing for retirement and what pre-retirees are doing about it, especially as it relates to financial planning. For example:

While 93% of retirees say that planning for and saving enough to last through retirement are important to consider before retiring, less than 40% of pre-retirees have thought a great deal about this aspect of retirement.
Further, 61% of retirees said they wish they had planned better for the financial aspects of retirement. More specifically, they wish they would’ve had more help, discipline, coaching, and motivation to make better financial decisions.

The Pandemic Effect

On a more positive note, the pandemic has prompted a financial wake-up call for many Americans. In fact, 69% of Americans who plan to retire said the pandemic motivated them to think more about the financial aspects of retirement planning. This sentiment rang true especially for Millennials and Generation Z. For many, thought moved to action as 59 million Americans began contributing more to retirement savings.

Unfortunately, many Americans have reduced, stopped contributing, or worse, withdrawn money from retirement savings during the pandemic. In early 2021, more than 14 million Americans had stopped making monthly retirement contributions.

The pandemic has exacerbated the women’s retirement funding gap and eroded their confidence about retirement savings. Our study showed 46% of women were confident in their retirement savings, compared to 63% of men. Career interruptions, much more likely for women than men, are a key contributor to this gap. The economic impact of this reality has never been clearer as the pandemic hit working women especially hard with many leaving the workplace to care for children or aging parents.

Expanding Opportunities for Retirement Saving

There is some potential good news on the horizon. Congress is considering several bipartisan pieces of legislation that support private-sector solutions by expanding and extending savings opportunities for Americans. Here at Edward Jones, we believe this legislation advances the interests of individual investors and are actively supporting these bills.

Incentives for Small Employer Retirement Plans

According to the Bureau of Labor Statistics, only 53% of those working for companies with less than 50 employees have access to company retirement plans. This is especially troubling when you consider that two-thirds of new jobs are created by small businesses and that they account for 44% of US economic activity (US SBA Office of Advocacy).

In our experience, cost and complexity are the most significant barriers for small- and medium-sized businesses to establishing a workplace retirement plan. The Retirement Security and Savings Act (S. 1770) and the Securing a Strong Retirement Act of 2021 (H.R. 2954) that Congress is reviewing would increase the start-up cost tax credit for small businesses to establish retirement plans for their employees. H.R. 2954 would also provide a new credit for small employer contributions up to $1000 per employee.

Student Loan Repayment

S. 1770 and H.R. 2954, would allow employers to make matching contributions with regard to employee student loan repayments as part of a voluntary employer benefit. This benefit would allow employees burdened with large student loan debt to start saving for retirement.

Raising the Limit

Currently, those age 50 or older can make catch-up contributions of up to $6,500 to eligible retirement plans to take advantage of higher earning years and build up savings as they approach retirement. The Retirement Security and Savings Act would increase the catch-up contribution limit to $10,000 for those age 60 or older contributing to 401(k), 403(b), and governmental 457(b) plans and up to $5,000 to a SIMPLE IRA or SIMPLE 401(k) plans.

Americans are working and living longer, and many are concerned they will outlive their retirement savings. 69 million Americans indicated the pandemic has altered their retirement timing with one-third indicating they will retire later. The SECURE Act increased the age at which participants are required to begin taking distributions from their retirement plans from 70½ to 72. It’s a start, but we don’t believe anyone should be forced to draw on retirement savings before they have a financial need. Under the legislation, the required minimum distribution age would increase over time from 72 to 75.

As more pre-retirees look to for retirement planning guidance, financial advisors have a responsibility to educate them on current savings opportunities and the potential expanded opportunities these new measures would provide. We believe this legislation will go a long way to strengthening our retirement savings system and helping millions more Americans achieve a secure and dignified retirement. At Edward Jones, we’ll continue to advocate for this legislation in 2022, and we encourage you to ask your elected officials to support the Retirement Security and Savings Act and the Securing a Strong Retirement Act of 2021.

The Second Time Around Can Be So Much Better

January 20, 2022/in /by ndowney

Experienced Financial Advisor:

The Second Time Around Can Be So Much Better: Financial Advisor Tammy McKennon

business woman standing confidently in metro office setting

Being hired right out of college, Tammy McKennon started her financial advising career with one of the big wirehouse firms. “I was ramping up quickly and giving it 110 percent,” she said, “and then my husband and I started a family. That’s when it really got hard to balance it all.” Eight and a half years later, and now with two children and a try at part time, she knew a choice was necessary.

After some soul searching and long discussions with her husband, Tammy chose to put her career on hold and stay home with her children. “Looking back, it’s a decision I will never regret, but at the time, it was tough having to give up a part of me that I had worked so hard to build.”

Seventeen years later, her third child was nearing college, and Tammy decided the time was right to go back. But this time, it was on her terms. “I wanted a firm where I could really focus on my clients and not the numbers,” said Tammy, “and I wanted to be in a firm that would support me and the way I managed my business.” After talking to several different firms – everything from small independents to large bank operations – it was clear to Tammy that the Edward Jones business model offered her the kind of practice where she knew she could jump back in and excel. Within three years of opening her Newport Beach office, her business skyrocketed to one of the highest quartiles of production within the firm. In retrospect, Tammy said, “I wish I had joined Edward Jones in the beginning, because I would have never stepped away!”

Today, Tammy manages over $230M in assets and provides a highly personalized client experience. She has also held leadership roles within the firm and has participated in the firm’s continuing development series offered to financial advisors. Specifically, the Developing Leadership Presence class has allowed her to become more confident in a public speaking environment. “It’s this type of professional development and investment in their financial advisors that really sets Edward Jones apart from other firms. I’ve become a better spouse, parent, friend and overall better person, because of their influence,” according to Tammy. “There’s no other firm that has more moral and ethical beliefs. At Edward Jones, we walk the talk.”

Learn more about taking your practice to the next level at Edward Jones.

Right Now is an Ideal Time for Legacy Planning

October 29, 2021/in /by Cillah.Hall

Experienced Financial Advisor:

Right Now is an Ideal Time for Legacy Planning

by Ken Cella

Multi Generation Family Walking In Park Together

For many, the holidays are a time spent with family, when everyone gathers around the table for great food and warm company. For financial advisors, this year’s holiday season should mean something else as well: talking to clients about the legacy they hope to leave.

That’s because a recent study from Edward Jones, in partnership with Age Wave and The Harris Poll, found that for many Americans, the pandemic triggered conversations with close family members about their end-of-life plans and preferences. In fact, the survey found that a third of U.S. adults had such conversations since the start of the pandemic, and for 44.5 million Americans, it was the first time they had talked to family members about topics like finances, health and legal plans. What’s more, two-thirds of Americans said the pandemic has caused them to think more about the kind of legacy they want to leave to their families.

“At Edward Jones, we consider counseling clients about leaving a lasting impact to be a fulfillment of our purpose: to partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society. ”

-Ken Cella, Principal, Client Strategies Group

At the same time, while the pandemic has driven many people to have conversations about legacy planning, there’s a gap between Americans’ intentions and actions on the subject. For example, more than 70 percent of Americans 50 and over believe a will is the most important document to have in place before someone dies, but only 49 percent of this group actually has one. And only 19 percent have completed all three essential end-of-life documents – a will, health care directive or living will, and designated power of attorney.

With legacy planning top-of-mind for many Americans, combined with this intention-action gap, now is a time when financial advisors can be of great help to their clients. And while the holidays may seem like an unusual time to think about legacy planning, there are decisions to be made that typically require conversations with family members. Considering many families celebrated the holidays virtually last year, this may be the first time some families are gathering in two years.

Obviously, discussions around legacy planning, while very important to have, can make many people uncomfortable. In fact, our research found that three in five U.S. adults say there are barriers to overcome when they attempt to have family discussions around important financial topics like this. The most common of these roadblocks are wanting to avoid family conflicts (22%) and burdening family members with their finances (20%) and being too uncomfortable to discuss these topics (18%). While legacy planning may not be an ideal topic of conversation at the holiday dinner table, family gatherings can offer a rare opportunity for family members to discuss it in person. (We recommend waiting until after dessert.)

With all this in mind, it’s a good time for financial advisors to proactively check in with their clients and learn which of them may be looking for help with these discussions in the weeks ahead. Offer guidance to clients around the best ways to engage family members in these sensitive conversations; it may help to offer to host them in your office, so you can act as a facilitator and resource for all involved.

Legacy planning documents are too important to be overlooked, and your clients can enjoy a tremendous peace of mind once they have them completed with an estate-planning attorney. At Edward Jones, we consider counseling clients about leaving a lasting impact to be a fulfillment of our purpose: to partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society. The circumstances are right for engaging clients in a conversation about it, and it’s an opportunity to show clients your value as a financial advisor. Be sure not to let it pass by.

Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.

Edward Jones Named on the 2022 Best Workplaces in Financial Services & Insurance List by Great Place to Work® and Fortune® magazine

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Enhancing the client experience

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Interested in the Edward Jones Financial Advisor Opportunity?

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New Incentives for Retirement Savings

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Perspectives on Retirement Planning

The Pandemic Effect

Expanding Opportunities for Retirement Saving

Incentives for Small Employer Retirement Plans

Student Loan Repayment

Raising the Limit

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The Second Time Around Can Be So Much Better: Financial Advisor Tammy McKennon

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Right Now is an Ideal Time for Legacy Planning

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Edward Jones Financial Advisors Rate Firm Highest in Overall Employee Advisor Satisfaction, According to
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