The corporate parent of broker-dealer Edward Jones has submitted an application to the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to establish the Edward Jones Bank, a Utah-chartered industrial bank.
“If approved, the bank would help Edward Jones better serve clients’ needs for saving, spending and borrowing,” the company said in a release.
The Jones Financial Cos. said that the application process could be lengthy, and that bank operations could begin in late 2021. Ray Dardano would serve as the bank’s president, it added.
A bipartisan proposal aimed at aligning advisor compensation rules with modern business structures is headed to the full House.
Vanilla is extending its estate planning tech to Callan Family Office's ultra-high-net-worth business, while WealthFeed's organic growth engine will now be available to roughly 100 advisors at The Mather Group.
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Richard Brothers Financial Advisors joins the fee-only RIA, adding its first Maine office and $240 million in client assets
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