Welcome!

News Feed Item

Edward Jones Partners with Securities Training Corporation to Address Industry-Wide Need - A Growing Shortage of Financial Advisors

Kansas State University First of Three Universities to Offer Series 7 Course Using STC Materials Paid for by Edward Jones

ST. LOUIS, Aug. 14, 2014 /PRNewswire/ -- Financial services firm Edward Jones is partnering with Securities Training Corporation (STC), the nation's leading financial services training company, to help prepare students for a career as a financial advisor.  The effort is intended to address an increasing industry concern – a shortage of financial advisors.

Beginning this fall, Kansas State University will offer a first-of-its-kind credit course that prepares students to take the Series 7 exam, the general securities licensing exam required by the Financial Industry Regulatory Authority (FINRA).  All materials used by faculty, as well as training provided to these instructors, will be provided by STC with the $5,000 cost paid by Edward Jones.  The financial services firm has committed to pay the cost of adding this course to the curricula of 10 universities that currently offer a financial planning sequence.

Maryville University in St. Louis was the first school to agree to incorporate the Series 7 course in its program and will offer the course beginning in the spring 2015 semester.  In addition, Coastal Carolina University in Conway, SC, will begin offering the Series 7 course this fall but not with sponsorship by Edward Jones.

By giving students the opportunity to study for the Series 7 exam prior to graduation, the hope is that students will have a better understanding of what it takes to begin a career as a financial advisor, according to Edward Jones.  Other universities are currently considering adding the course, according to Matt Doran, the Edward Jones principal responsible for the firm's Financial Advisor Career Development Program.

"Our goal is to create a more defined path for students with financial planning majors to a career as a financial advisor by helping them succeed in the required first step – passing the Series 7 exam," said Doran. "Having a Series 7 course means students are more likely to self-select and have more confidence in choosing to pursue a career as a financial advisor."

Data shows that more financial advisors are leaving the industry than those entering it.  In fact, more than one-third of U.S. financial advisors plan to retire over the next decade according to a 2014 study by Cerulli Associates, a research firm focusing on the financial services industry.  In order to keep up with demand from the burgeoning number of retiring Baby Boomers who will reach retirement age in the next decade, the industry will need to add more than 237,000 new professionals1.

Yet, according to a 2014 report from the Bureau of Labor Statistics, the growth rate for financial advisors in the next decade is only expected at 27 percent, resulting in a net increase of only 60,300 new financial advisors2.

The shrinking corps of financial advisors comes at a time when the number of people at or nearing retirement continues to expand rapidly. In fact, by the year 2030, more than 20 percent of Americans are projected to be aged 65 and over, in comparison to 13 percent in 2010 and only 9.8 percent in 19703.

Paul Weisman, CEO of STC, said the seed of the idea was actually planted seven years ago at Bryant University in Smithfield, R.I.  A three-credit Series 7 course was added to the curriculum in 2007 but the concept never expanded elsewhere.

"Edward Jones' sponsorship makes it easy for universities to add a very practical course to their curricula," Weisman said. "Our hope is that as more universities sign up for this program, more students will be exposed to the material and choose to become financial advisors, a desperate need in the industry."

About Edward Jones

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm's 13,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

Edward Jones, which ranked No. 4 on FORTUNE magazine's "100 Best Companies to Work For 2014," is headquartered in St. Louis. The Edward Jones Web site is located at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com. Member SIPC.

About Securities Training Corporation

Founded on Wall Street in 1969, Securities Training Corporation has successfully helped over 1,000,000 candidates pass FINRA regulatory exams and launch their careers. STC has grown to become the leading provider of financial examination training, offering FINRA , firm element, regulatory element, and introducing their most recent Life, Health and Accident Pre-licensing courses. STC is focused on the commitment to providing a wide range of superior products and updated training material to their clients to help any candidate reach their goals.

STC's corporate headquarters is located in the financial district of New York City, and maintains branch offices in Chicago, San Francisco and Boston.

1 The Cerulli Edge - Advisor Edition, 1Q 2014 Issue
2 Bureau of Labor Statistics, Personal Financial Advisors Job Outlook, January 8, 2014
3 U.S. Census Bureau, The Baby Boom Cohort in the United States: 2012 to 2060, May 2014

SOURCE Edward Jones

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Archi...
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
In his session at 20th Cloud Expo, Brad Winett, Senior Technologist for DDN Storage, will present several current, end-user environments that are using object storage at scale for cloud deployments including private cloud and cloud providers. Details on the top considerations of features and functions for selecting object storage will be included. Brad will also touch on recent developments in tiering technologies that deliver single solution and an end-user view of data across files and objects...