Edward Jones Releases Annual Purpose, Inclusion and Citizenship Report
Anticipated $150 million in corporate, foundation and associate philanthropic contributions and commitment to building economic inclusion and financial health by educating approximately 1 million adults and youth by 2025 through Edward Jones' Financial Fitness program
ST. LOUIS, Sept. 7, 2021 /PRNewswire/ -- Financial-services firm Edward Jones today announced the release of its third-annual Purpose, Inclusion and Citizenship Report, "Deeply Invested." The report details the firm's 2020 accomplishments to improve the lives of its clients, associates and communities, along with investments to positively influence society, become more environmentally responsible and support causes that matter to its clients and communities.
The report highlights key initiatives including the firm's strategic alliance with the Alzheimer's Association and forward-looking plans, including an anticipated $150 million in philanthropic contributions to hundreds of causes across the United States and Canada before the end of 2025. The report also features the firm's diversity, equity and inclusion business focus, as well as the work of the Edward D. Jones Foundation, sustainability, community, and citizenship areas.
"This report is a tangible demonstration of Edward Jones' purpose and culture in action in the communities we serve," said Edward Jones Chief Human Resource Officer and Chief Transformation Officer Kristin Johnson. "Being purpose-driven means working together across our 7 million clients, our 50,000 associates and the thousands of communities across North America, to serve the needs of others and make the world a better place. It is with deliberate intent that we strive to create opportunities for our internal and external stakeholders, and as we look ahead to our next 100 years, we seek to ensure each action drives measurable impact."
Highlights from this year's report include:
Being a Force for Good in Society
Edward Jones is committed to strong diversity, equity and inclusion practices that help to end inequities, build a diverse workforce that meets the needs of current and future clients, work in partnership with the Alzheimer's Association to end Alzheimer's disease and empower high school students and emerging investors to become more knowledgeable, confident and financially resilient.
Specifically, by the end of 2025, Edward Jones is committing to:
Conducting regular pay equity studies to drive ongoing improvements and maintain equity. In 2020, Edward Jones analyzed pay across U.S. home offices and determined that less than 2% of associates identified as having any kind of gap in pay for work equal to their peers, and it addressed these identified gaps to ensure equal pay for equal work. This analysis concluded that Edward Jones employs best practices to ensure that pay decisions are not impacted by bias based on race and ethnicity, gender and gender identity, sexual orientation and military status.
In the U.S. and Canada, the following diverse representation goals by the end of 2025: 20% people of color and gender parity among leaders in the firm's U.S. and Canada headquarters, 15% people of color and 40% women among U.S. and Canadian home office general partners and 15% people of color and 30% women among U.S. and Canadian financial advisors. Further information on Edward Jones' diverse representation goals and its five-point commitment to address racism and positively impact opportunities for people of color are available online.
Raise $50 million over 10 years, the largest ever corporate commitment to support the Alzheimer's Association to end Alzheimer's disease.
Educating an estimated one million adults and youth, building economic inclusion and financial health, through the Edward Jones' Financial Fitness program.
Becoming Environmentally Responsible
Edward Jones is evaluating its direct and indirect impacts on the environment and is developing a comprehensive approach to address the future more sustainably.
Edward Jones' comprehensive approach to environmental sustainability will address external environmental partnerships, energy management, sustainable buildings, environmentally responsible material usages, reduction of greenhouse gas emissions, water management and waste management.
In addition, the firm is committing to pursue six United Nations Sustainable Development Goals (SDG) that are the most aligned to its business and ability to impact. They include:
Aligning actionable strategies and measures to UN SDG targets.
Quantifying the effects that sustainability and UN SDG commitments will have.
Measuring and reporting on impacts and outcomes, not just activities.
Support Good Causes
In 2020, Edward Jones contributed $25.7 million nationally (including $16 million locally in St. Louis) through corporate, Foundation and associate philanthropic support of 254 unique organizations across a wide variety of causes to create continued collective impact and economic growth. Edward Jones' associates and retirees contributed to the Edward Jones Disaster Relief Fund for associates who were impacted by COVID-19 and natural disasters.
Edward Jones anticipates more than $150 million in philanthropic contributions through 2025 in communities across the U.S. and Canada. As part of that five-year goal, the firm will build upon its legacy of community engagement in the St. Louis region, its hometown for nearly 100 years, with an anticipated $80 million in philanthropic giving toward inclusive growth and community wellbeing.
The firm's annual Purpose, Inclusion and Citizenship Report is available here.
About Edward Jones Edward Jones, a FORTUNE 500 firm headquartered in St. Louis, provides financial services in the U.S. and, through its affiliate, in Canada. Every aspect of the firm's business, from the investments its financial advisors offer to the location of its branch offices caters to individual investors. The firm's nearly 19,000 financial advisors serve more than 7 million clients with a total of $1.7 trillion in assets under care. The Edward Jones website is www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com. Member SIPC.