The Jones Financial Companies, L.L.L.P. Submits Application for Industrial Bank Charter to Complement Existing Banking Strategy

ST. LOUIS, Apr. 11, 2025 – The Jones Financial Companies, L.L.L.P. announced today that it has submitted an application to the Federal Deposit Insurance Corporation (FDIC) and Utah Department of Financial Institutions (UDFI) to establish Edward Jones Bank, a Utah-chartered industrial bank. If approved, an FDIC-insured industrial bank will enable Edward Jones to serve more clients, more completely.

With more than 9 million clients, Edward Jones' current banking offerings include margin loans, a securities-based line of credit, credit cards and a variety of cash management options. Edward Jones Bank would enhance these offerings by participating in the Edward Jones Insured Bank Deposit Program, issuing Certificates of Deposit (CDs), and expanding the availability of the existing securities-based line of credit. All of this is intended to complement the co-branded retail banking products we intend to launch later this year, as announced in August 2024.

“Throughout our 103-year history, Edward Jones has provided a wide range of products, solutions and experiences to our clients," said David Chubak, Principal, Head of Branch Development and U.S. Business Unit. "Edward Jones Bank is an opportunity to simplify our clients' financial lives and reflects our firm's focus on meeting their evolving needs."

“Our clients' financial needs are increasingly complex. An affiliated bank would allow us to better meet those needs in order to achieve clients’ long-term financial goals" said Alison Carnie, Principal and Head of the Banking Business Unit.

The proposed Edward Jones Bank would be insured by the FDIC and subject to federal- and state-regulatory oversight. Further, Edward Jones Bank would operate independently as a wholly-owned, indirect subsidiary of The Jones Financial Companies, L.L.L.P., with its main office in the Salt Lake City, Utah area.

Andrea Moss, who has more than 28 years of financial services and banking experience, would serve as the president and CEO of Edward Jones Bank.

The firm previously submitted an application to establish Edward Jones Bank in July 2020 and later withdrew that application in October 2022.

About Edward Jones

Edward Jones is a leading North American financial services firm in the U.S. and through its affiliate in Canada. The firm’s more than 20,000 financial advisors throughout North America serve more than 9 million clients with a total of $2.2 trillion in client assets under care as of December 31, 2024. Edward Jones' purpose is to partner for positive impact to improve the lives of its clients and colleagues, and together, better our communities and society. Through the dedication of the firm's approximately 55,000 associates and our branch presence in 68% of U.S. counties and most Canadian provinces and territories, the firm is committed to helping more people achieve financially what is most important to them. The Edward Jones website is at www.edwardjones.com, and its recruiting website is www.careers.edwardjones.com. Member SIPC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. securities laws. You can identify forward-looking statements by words that predict or indicate future events, such as “expect,” “will” or “would” and other expressions which predict or indicate future events which do not relate to historical matters. You should not rely on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of The Jones Financial Companies, L.L.L.P. These risks and uncertainties include, but are not limited to, whether the industrial bank application will be approved, what benefits an industrial bank charter might yield and the Risk Factors discussed in The Jones Financial Companies L.L.L.P.’s Annual Report on Form 10-K for the year ended December 31, 2024. These forward-looking statements were based on information, plans, and estimates as of the date of this press release, and The Jones Financial Companies, L.L.L.P. does not undertake to update forward-looking statements to reflect changes in underlying assumptions or new information.