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.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
