Program Transitions Military to Finance

Edward Jones created FORCES last year to provide training and a compensation package to smooth the transition to a financial services career for veterans.

The program has been a success on two fronts. Not only does the initiative offer professional careers to military veterans transitioning to civilian life, but it has also been an effective way to recruit skilled, effective financial advisers. Edward Jones research has found that individual investors are drawn to financial advisers with military experience based on transferable characteristics such as discipline (77%), goal-orientation (73%) and integrity (72%).  

Slightly more than one in ten of Edward Jones financial advisers (11%) has military experience. The program is designed specifically for people without a financial services background but who have  the skills and competencies the firm looks for.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

“Edward Jones has a long legacy of hiring military veterans and honoring their service to the country—it’s not just viewed as a corporate initiative, but as a business imperative,” said Jim Weddle, managing partner of Edward Jones. “The competencies and skill sets embraced in the military not only align with, but greatly complement, those needed to be a successful financial adviser.”

More information about FORCES is available at the Edward Jones website.

Equity Compensation Plan Participants Value Education

A new poll reveals employers who sponsor equity compensation plans have an important part to play in educating employees.

Eighty-nine percent of those surveyed feel it is important that an employer provide education and guidance about how a stock plan works, according to the poll from Morgan Stanley Global Stock Plan Service. Only 50% feel their employer has done an excellent or very good job of providing such education and guidance.

While 59% of respondents describe their stock plan as a key part of their compensation package, 82% believe having a stock plan is a sound business strategy for employers.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

“Providing first-class educational resources and access to planning tools can help maximize the investment companies make in establishing and maintaining an equity compensation plan,” says Evan Siegal, executive director and head of Product Strategy, Morgan Stanley Corporate Equity Solutions, based in New York.

When asked about financial planning, 66% of respondents were extremely or very confident in reaching long-term financial goals if they had a written financial plan.

“These poll results make it clear that employee education is extremely important to stock plan participants and most expect that education from their employer,” said Walter Veghte executive director and head of Financial Planning Resources at Morgan Stanley. “Financial planning is also directly related to a participants’ confidence about reaching long-term goals and is critical in increasing the value perceived from their stock plans. This poll confirmed that confidence rises when stock plan assets are included in the overall financial plan.”

«