Edward Jones

An industry consultant thinks Edward Jones' latest bid to start a bank is an attempt to add revenue sources as the traditional brokerage business becomes less lucrative.

As managing partner at Edward Jones, Pennington's in charge of 8 million clients, more than 19,500 financial advisors and $2.1 trillion assets under management.

The brokerage's managing partner talks about AI in wealth management, inflation, and her work on the St. Louis Fed board, in conversation with American Banker Editor-in-Chief Chana Schoenberger.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

Penny Pennington had worked for Edward Jones for some 17 years when she was named the managing partner in 2019.

The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC.

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.