Edward Jones Set for January Bank Launch to Widen Client Lending Options
- 19 hours ago
- 1 min read
Ortolani, A. (2026, August 6). Edward Jones set for January bank launch to widen client lending options. WealthManagement.com. https://www.wealthmanagement.com/ibd-news/edward-jones-set-for-january-bank-launch-to-widen-client-lending-options
Edward Jones is on track to launch its in-house bank in January, with David Chubak, head of wealth management and field management, describing himself as "cautiously optimistic" about the timeline.
The bank will be used for lending rather than retail banking and checking, which Edward Jones already offers through a partnership with U.S. Bank that provides checking and credit cards.
Edward Jones received approval from the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions in March, having indicated it would seek to open in early 2026.
The bank will be led by President Andrea Moss and will eventually bring the firm's Reserve Line of Credit and other lending options to all 50 states, with Chubak noting margin lending is hitting record highs.
The new bank, in the works since 2020, would also fuel the firm's private client service division and Edward Jones Generations, launched in March 2025 for clients with at least $10 million in investable assets.
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