Edward Jones Expands Retirement Plan Offerings for Local Business Support

Edward Jones Expands Retirement Plan Offerings

Edward Jones, a prominent financial services firm, is reaffirming its dedication to assisting local business owners and their employees in achieving financial wellness. The firm has taken significant steps to enhance its retirement plan products, offering local businesses the tools they need to secure their futures while also investing in innovative technologies.

Through a robust network of 20,000 financial advisors, Edward Jones aims to provide comprehensive retirement plan solutions that cater specifically to the needs of local business clients. By collaborating with Nationwide and Voya, two well-known providers, Edward Jones is introducing a suite of tools that can streamline the experience of workplace retirement planning for both employers and their employees.

A Commitment to Financial Wellness

According to Alyssa Harper, Principal and Head of the Workplace Segment at Edward Jones, nearly a third of Americans experience their first investment opportunities through their workplaces. With this in mind, Edward Jones recognizes the importance of making financial education and access to investment tools readily available at work.

Recent research shows that while many employees contribute to workplace retirement plans, a substantial percentage lack access, as numerous employers do not offer such plans. This gap underscores the importance of Edward Jones’ initiatives to expand financial access at this critical juncture for American workers.

Partnerships with Nationwide and Voya

The newly formed partnerships with Nationwide and Voya are designed to augment the range of retirement solutions available to Edward Jones clients. This will include various retirement planning tools and resources that align with both firms' commitment to promoting financial health among employees. Nationwide's expansion into workplace retirement plans will enhance its existing partnership with Edward Jones, established in 2021, while Voya's complementary suite will further assist in delivering effective retirement solutions.

Innovative Technology for Enhanced Engagement

In addition to these partnerships, Edward Jones is leveraging technology to improve engagement and the efficiency of retirement planning.

New tools such as Aboon, a digital-first third-party administrator (TPA), aim to streamline the management of 401(k) plans. With Aboon, financial advisors can significantly reduce the time spent on plan design, onboarding, and servicing—leading to experiences that are faster and more efficient for business owners.

Similarly, Addition Wealth, another technology initiative, focuses on enhancing financial wellness by integrating expert guidance with AI-powered tools. This platform provides employers with the ability to offer meaningful financial education to their workforce, making it easier to make informed financial decisions.

Both Aboon and Addition Wealth are part of a broader strategy by Edward Jones Ventures, which invests in innovative solutions within the wealth management sector.

The Main Street Initiative

As part of its commitment to supporting local businesses, Edward Jones has also introduced the Main Street Initiative. This program, in partnership with the St. Louis Small Business Empowerment Center and New Leaf, offers $30,000 grants to local business owners struggling with capital access and retirement saving challenges. The initiative aims to strengthen local economies while ensuring business leaders can plan effectively for their future.

Conclusion

Through these comprehensive measures, Edward Jones is positioned to transform how local business owners and their employees approach financial planning and retirement. By investing in partnerships and innovative technologies, the firm demonstrates a robust commitment to fostering financial wellness across communities in North America. With an established presence that spans both the United States and Canada, Edward Jones aims to play a pivotal role in enhancing the financial futures of countless Americans and their families.

For further details regarding their retirement plans and initiatives, visit EdwardJones.com/workplace.