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Firm to Offer Securities-based Lending

ST. LOUIS, Sept. 19, 2022 /PRNewswire/ -- Financial-services firm Edward Jones today announced that it is equipping its nearly 19,000 financial advisors with interactive tools and security-based lending options to help clients navigate complex financial needs and changing market conditions.

These new resources will help Edward Jones deepen relationships with its clients and individual retail investors who need and value an in-depth and personalized experience—the cornerstone of the firm's unique approach to wealth strategies.

In the firm's latest research with think tank Age Wave and 9,000 Americans across five generations, nearly 90% of U.S. adults said inflation is a big worry for them. It's followed closely by global conflict, such as the war in Ukraine and related economic disruption. COVID-19, which was high on this list last year, is much less of a worry, but even so, nearly two-thirds of respondents said it still was a concern.

To help Edward Jones' 8 million clients manage cash flow, compare asset allocation and work through inflationary concerns, the firm's nearly 19,000 financial advisors will have access to additional interactive tools. These tools are part of the firm accelerating its journey and aspiration to deliver human-centered complete wealth management to its current and future clients.

One of the offerings phased in over time will include Envestnet | MoneyGuide's MyBlocks on inflation and credit cards, and other tools that will help address clients' immediate goals for spending and borrowing and their longer-term saving and investing needs. Clients will also have access to the very latest Edward Jones' advice and guidance on these and other personal finance topics.

"Through innovative and integrated advice, products and services – and by leveraging deep understanding of client and branch team needs – we will enable branch teams to deliver unparalleled value for our clients and communities. These offerings and experiences, from discovery to planning and implementation, will be supported by Edward Jones thought leadership and expert services," said Lena Haas, head of Wealth Management Advice and Solutions at Edward Jones.

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As revealed by the Longevity and the New Retirement research with Age Wave, there is also a huge "retirement reset" happening. A whopping 66 million Americans are reconsidering when they plan to retire. Of those who are thinking about changing their retirement date, almost 70% expect to retire later than planned—and not by an insignificant amount. Among pre-retirees ages 50 and older, the average length of time people are thinking about pushing their retirement back is six years.

Why is this change happening? The main reason is once again inflation.  It's driving a significant downturn in people's confidence with their retirement savings. Since the firm's first study with Age Wave was issued in January 2020, people's confidence peaked at this time last year, as the research showed signs that the country was emerging from the pandemic. However, as inflation has become more of a financial concern, there's been a significant decline in investor confidence.

As the firm evolves, Edward Jones is committed to improving the client experience today through more comprehensive offerings such as securities-based lending (Edward Jones Reserve Line of Credit).* This solution, which will be available to small, targeted groups in 2022 with further expansion into 2023, will enhance the firm's ability to meet clients' needs by providing a borrowing option in its Advisory Solutions, UMA and Guided Solutions Fund accounts.

"Across our industry, banking and wealth management are converging. Seventy percent of Edward Jones' clients value holistic guidance, covering a broad spectrum from investing and wealth protection to understanding cash flow and spending and borrowing solutions," said Jeff Kitchen, an Edward Jones financial advisor and field-based general partner who is part of the pilot program rollout and ranks among the firm's top 25 financial advisors.  "Discovering what is most important to clients, establishing goals and creating personalized strategies includes their borrowing needs. Comprehensive offerings such as securities-based lending (Reserve Line of Credit) will help equip our branch teams to deliver goals-based advice more consistently."

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These strategies are an integral part of delivering the client experience today through goals-based advice, which is a step toward, and one very important element of, Edward Jones advancing 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.

"As Edward Jones deepens client relationships and expands our offerings, we expect to see higher levels of satisfaction among our clients and branch teams, consolidation of assets and a more comprehensive view of a client's overall financial picture – helping them achieve financially what is most important to them and their families," Haas said.

*Edward Jones Reserve Line of Credit offered by Edward Jones SBL, LLC, an affiliate of Edward D. Jones & Co., L.P.

About Edward Jones
Edward Jones, a Fortune 500 firm, provides financial services in the U.S. and through its affiliate in Canada. The firm's nearly 19,000 financial advisors serve more than 8 million clients with a total of $1.7 trillion in client assets under care. 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 50,000 associates and our branch presence in 68 percent of U.S. counties, the firm is committed to helping more people achieve financially what is most important to them. The Edward Jones website is at www.edwardjones.com, and its recruiting website is www.careers.edwardjones.com. Member SIPC.

SOURCE Edward Jones
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