Edward Jones Adds New Tools to Enhance Client Experience

Financial services firm Edward Jones announced enhancements to its tools, product and service offerings, as well as increased flexibility, autonomy, and choice in how its financial advisors engage with clients, including Envestnet’s MoneyGuide Elite, financial planning services and tax-loss harvesting.

MoneyGuide Elite is now available to all the firm’s U.S. branch teams. According to the company, the program enables advisors to show clients income distribution, tax planning, and lifetime protection solutions, among other, enabling “deeper discovery conversations” with clients.

Edward Jones also announced its aim to deliver a financial planning service that it began piloting earlier this year through its St. Louis, MO headquarters. The service is expected to expand as an option for branches to deliver financial planning directly to their clients starting in the middle of 2024.

The firm is also rolling out enhancements to its Investment Advisory Platform such as an optional tax loss harvesting service that monitors eligible investments in certain taxable accounts for opportunities to realize losses. It also recently launched Financial Advisor Managed Solutions, an advisory program where clients delegate investment discretion to their financial advisor.

“In addition to new tools, products and services, we are also investing in developing, retaining and growing our branch teams by offering new practice models and more flexibility, autonomy and choice in how they run their practices,” said David Chubak, head of the U.S. business unit at Edward Jones.

More than 1,400 Edward Jones branch teams elected to transition to new practice models, including multi-financial advisor offices, teams and new roles for financial advisors and client support team members such as associate financial advisor and registered branch associate.

The firm has a 3% growth objective for financial advisors in 2024.