Edward Jones has partnered with financial safety platform Carefull to help advisors protect their clients from the growing risk of financial fraud.
The financial services firm is providing Carefull’s AI-powered platform to clients, with the technology monitoring accounts for warning signs such as suspicious transactions, as well as behavior changes associated with scams. Edward Jones is making the technology available to its 9 million-plus clients through its more than 20,000-strong network of financial advisors.
The fraud monitoring tool operates quietly in the background, according to Edward Jones, and is designed to complement the personalized advice provided by the company's advisors. The technology looks out for mistakes that people make themselves – particularly those that come with aging. The technology provides the option to send selected alerts or information to trusted loved ones, with the goal of creating shared awareness without transferring control.
“Protecting wealth today means protecting people, especially during moments of vulnerability,” said David Gunn, head of U.S. and Canada business units at Edward Jones, in a statement. “By combining trusted, human guidance with thoughtful financial safety support, we help families move forward with clarity and confidence.”
The specter of financial fraud is increasing. The FBI’s latest Internet Crime Report, released in April, showed that cyber-enabled crimes defrauded Americans of nearly $21 billion in 2025, up from $16.6 billion in 2024.
Older people, in particular, are being targeted. Losses among individuals aged more than 60 were $7.75 billion in 2025, up significantly from $4.88 billion a year earlier. The FBI’s Internet Crime Complaint Center received 201,266 complaints from people in that age group in 2025, according to the report, compared with 147,127 complaints in 2024.
Earlier this month the Life Insurance Marketing and Research Association released research that identified cognitive decline as a growing threat to retirement security. The study found that nearly 30% of people over 65 experience diminished cognitive capacity, and noted that financial management is often among the first skills to decline. Cognitive decline can result in average household wealth losses of roughly $124,000, fueled by missed payments, fraud, and poor financial decisions, according to LIMRA.
“As fraud, scams, caregiving needs, and longevity-related risks become more complex, families need more than traditional safeguards,” said Carefull co-founder Todd Rovak, in the statement. “They need proactive tools that help them see risk earlier, involve trusted loved ones, and stay connected across generations.”
Edward Jones is not the only company in the advisory industry to harness Carefull’s fraud detection technology. Last year Osaic partnered with Carefull to give its giant network of advisors access to the security specialist’s fraud, scam, and family financial protection tools.
A number of different surveys show that many people have a low level of fraud preparedness, a scenario that creates opportunity for advisors who can bolster their clients' fraud defenses. Research released this month by CFP Board found that, while 62% of Americans have encountered financial fraud, most are not prepared to deal with it. The study said that just 37% of Americans are confident they could identify every form fraud takes and 29% are unsure whether they could detect a fraud attempt before it is too late.
Research from Edward Jones and Morning Consult released in November paints a similarly worrying picture, with 26% of Americans describing themselves as victims of financial fraud. Almost half of the respondents to Edwards Jones’ study said they have either experienced it themselves or know someone who has.
The partnership with Carefull is also an example of the advisory industry's deepening bet on fintech. On Wednesday, Edward Jones also announced a minority investment in Carefull through Edward Jones Ventures, the venture capital arm of the firm.
New research shows aspiring advisors are fluent in AI — but fear firms will automate the very roles they need to learn the trade.
Many younger Americans would tap their own retirement accounts to pay for care for a loved one.
The Nashville-based RIA platform unveils a branded digital workflow solution designed to fix the onboarding gap that frustrates financial advisors.
Despite relying heavily on Social Security for retirement income, many older Americans doubt the program will deliver full benefits in the future.
BlackRock data shows workers without a financial cushion are far more likely to raid their 401(k) — and less likely to ever start contributing.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
