In an effort to demonstrate its focus on meeting consumers where they are and offering a simplified experience around its core deposit products, U.S. Bank entered into a strategic partnership with Edward Jones to serve the banking needs of the investment firm’s clients.
Through this strategic alliance, Edward Jones’ network of more than 19,000 financial advisors will be able to introduce co-branded U.S. Bank deposit and credit card products to the firm’s U.S. clients beginning in late 2025, according to a company press release.
“U.S. Bank and Edward Jones share a mission to improve the financial lives of our clients. Working together, we look forward to helping more clients achieve their financial goals with simple and easy to use banking solutions,” U.S. Bank Head of Consumer and Business Banking Products Arijit Roy said in the release.
Edward Jones serves approximately 8 million clients with $2 trillion in client assets across North America. U.S. Bank has had an Edward Jones card-issuing relationship through its Elan division since 2012. This expanded alliance will feature new co-branded Edward Jones and U.S. Bank credit card products with enhanced rewards for consumer and small business clients.
“Strengthening our saving, spending and borrowing offerings will help us serve more clients more completely,” Edward Jones U.S. Business Unit and Branch Development Manager David Chubak said in a separate release. “U.S. Bank is our current partner for our credit card offering. Expanding our already successful partnership will help us scale the impact for our clients across the U.S. Both of our firms prioritize a people-first approach and are committed to continually evolving to serve clients' needs now and in the future.”
Edward Jones approached the partnership as a continuation of its initiative to provide more comprehensive planning and professional advice for clients through its branch teams, adding to its existing relationships with MoneyGuide and Salesforce.
U.S. Bank framed the alliance as a strategic step to extend the company’s geographic reach and serve more clients. The company entered into a similar alliance with State Farm in 2020 through which it assumed responsibility for the insurance provider’s deposit and credit card account products.