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Edward Jones Bank Receives Regulatory Approval

In a significant leap towards enhancing client services, Edward Jones announced the approval of its banking application by the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI). With this new venture, Edward Jones is poised to further simplify financial management for its clients through a comprehensive suite of banking services.

A New Chapter in Financial Services

On February 27, 2026, Edward Jones revealed that it had received the green light to establish Edward Jones Bank, marking a pivotal moment in its over 100-year commitment to helping individuals achieve financial security. This development aims to cater to a broader audience, addressing diverse financial needs such as saving, spending, and borrowing—all under one roof.

As stated by Penny Pennington, Managing Partner of Edward Jones, this approval is more than just a regulatory milestone; it arms them with the capability to deliver comprehensive and integrated banking solutions tailored to the unique needs of millions of families.

Expansion of Services

One of the primary advantages of Edward Jones Bank is its ability to integrate the existing reserve line of credit (RLOC) portfolio, which is currently accessible in 47 states along with Washington, D.C. This integration enables the firm to extend its offerings to all 50 states, significantly enhancing convenience and flexibility for clients managing their borrowing needs.

Moreover, Edward Jones will facilitate deposit-taking through its insured bank deposit program and intends to offer certificates of deposit (CDs), providing clients with more options to grow their savings.

Strategic Partnerships Enhance Offerings

This banking initiative complements Edward Jones' ongoing collaboration with U.S. Bank. Together, they offer co-branded checking and credit card products designed for daily spending, aptly named Edward Jones® Everyday Solutions Powered by U.S. Bank®. This synergy not only enhances the client experience but also strengthens their position in the competitive financial services market.

David Chubak, Head of Wealth Management and Field Management at Edward Jones, emphasizes the evolving needs of clients. He noted that many seek a more integrated view of their financial landscape, which is precisely what Edward Jones Bank aims to provide. This initiative underscores the firm’s commitment to listening to client feedback and adapting to their needs through continuous service enhancement.

Future of Edward Jones Bank

Leading the new bank will be Andrea Moss, the appointed President of Edward Jones Bank, who will work alongside the firm’s financial advisors to ensure that clients receive tailored banking solutions. The bank is scheduled to officially launch in early 2027, with its headquarters located in the vibrant Salt Lake City area of Utah.

As Edward Jones charts this new course, the firm reaffirms its dedication to putting clients first. With an impressive record of serving over 9 million clients, managing roughly $2.5 trillion in client assets as of December 31, 2025, this expansion is set to redefine how families manage their financial futures.

By diversifying its services and integrating banking solutions, Edward Jones not only enhances its utility to clients but also positions itself as a forward-thinking leader in the financial services sector. Through continued innovation, tailored offerings, and proactive client support, Edward Jones is well-equipped to help families realize their financial aspirations, whatever they may be.

Visit Edward Jones to learn more about their offerings and how they are committed to improving clients' financial lives.