Edward Jones Buys Quicken Minority Stake for 20,000 Advisors and 10 Million Clients
Updated
Updated · InvestmentNews · Aug 18
Edward Jones Buys Quicken Minority Stake for 20,000 Advisors and 10 Million Clients
1 articles · Updated · InvestmentNews · Aug 18
Summary
Edward Jones said the investment is a step toward bringing Quicken’s personal financial management tools into advisor workflows, aiming to improve client budgeting, cash-flow visibility and planning conversations.
The firm is still deciding how Quicken will be deployed—whether directly to clients, inside internal advisor platforms, or both—as it works out an integration strategy.
The move follows Edward Jones’ shutdown of its in-house Financial Foundation tool and adoption of MoneyGuide, raising questions about gaps in cash-flow and account-aggregation capabilities.
Quicken could gain far broader reach if the partnership expands: Edward Jones serves nearly 10 million clients through 20,000 advisors, versus Quicken’s roughly 2 million existing customers.
The deal may ripple across advisor technology, pressuring rivals such as MoneyGuide, eMoney and RightCapital as firms push to pair planning advice with always-on household financial data.