Edward Jones - Investing in the Community
Photography by Francesca Andre: francescaandre.com
Saturday, December 3, 2011
Edward Jones is a financial services company that serves the needs of investors of all ages and financial means. It’s a national franchise with several branches in Brooklyn, one of which is located at 1013 Fulton Street (at Grand Avenue, right across from the new Putnam Triangle Plaza). Owner Wayne Ewan is a finance professional, ex-math teacher and regular participant in FAB Alliance events.
FAB: Please describe your business and your role there.
Wayne Ewan: Edward Jones started in St. Louis in 1922, with the goal of giving Middle America and people of modest means access to the same investment opportunities that up until then had been geared almost exclusively to affluent people living on the East Coast. From the beginning, Edward Jones has been focused on solid, disciplined investing—not chasing the latest fads or getting caught up in high-risk investments. We generally follow a risk-averse, “buy & hold” strategy, which is about long-term investing. Edward Jones has a unique business model and philosophy; it’s definitely not your typical financial advisory/investment firm.
I think of my role as a "financial fitness trainer." My job is to help people establish a financial goal, and make sure that their money is working towards that goal.
FAB: How did you get started in the business?
Wayne Ewan: After graduating from Columbia University with an economics degree, I worked at several large Wall Street investment firms. But I was looking for a greater sense of purpose. So I left Wall Street and worked as a math teacher for a number of years. The work suited me, but I found the bureaucracy stifling. 9/11 really made me question my purpose in life. Making money was secondary at that point. I just wanted to give something back to the community. That’s what led me to Edward Jones.
It’s a perfect mesh of my finance background and teaching. I actually spend a lot of time educating clients on the merits of certain investments, about managing risk, certain tax advantages that are available. I do free seminars and provide free access to a lot of information. For example, a portfolio consultation at Edward Jones is free. That it’s free is important—it’s a key aspect of Edward Jones’ grassroots approach. The company doesn’t do a lot of advertising; this is an organic way to let people know about us, what we offer.
So yeah, financial education was a natural fit for me. I still tutor students and speak at schools on finance topics—careers in finance, saving for college. It’s important, I think, not least because for most people dealing with finance is unpleasant. It’s like going to the dentist. People don’t have the time or the knowledge. They need someone they can trust, someone they can turn to for advice and to help them get their finances together.
FAB: How long have you been on Fulton Street and what made you select the area for your business?
Wayne Ewan: I’ve been on Fulton Street since 2010. I grew up in Canarsie, but I have roots in this community. I used to come here when I was in high school to practice track, and also lived here for a while in the ‘90s.
The Clinton Hill/Fort Greene area is very diverse, obviously, and has a rich cultural history. I’ve seen the area evolve from back in the ‘80's to where it is today. I thought what better place to establish a practice where you can best connect with the people that you serve? The chemistry here just seemed right for the office.
FAB: What do you love about the area?
Wayne Ewan: I love the energy. I love the people. I love the melding of the arts, finance, fashion, food, and families—all of which adds to Fulton Street's eclectic charm and unique character. There’s a renaissance taking place right under our feet!
FAB: What would you recommend to other businesses on Fulton Street to help them succeed?
Wayne Ewan: It's important to be engaged with the community. Get out there and meet the other business owners and individuals in the community. Establish relationships to network and build connections, instead of working alone as a solitary business without the support of fellow business owners and organizations like FAB, the Brooklyn Chamber of Commerce, Fort Greene Association, or any other entity that supports our business efforts.
FAB: What would you like the community to know about your company?
Wayne Ewan: Every aspect of Edward Jones' business, from the type of investment options 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 12,000-plus financial advisors work directly with nearly 8 million clients to understand their personal goals—from college savings to retirement planning and life insurance needs, as well as small independent business owners.
Our primary goal is to create long-term strategies for their investments 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; and helping them to understand the investment options available today.
FAB: What would you like the community to know about you, as the proprietor of this business?
Wayne Ewan: I see myself as a resource for the community. I work with clients daily to address their basic financial issues. In a community like ours that is growing and evolving, and as financial matters become more and more complex, having someone you can talk to who’s trustworthy and is located right in your neighborhood is paramount.
Also in the vein of being a community resource, I’ve made a point of supporting local cultural activities, including many that FAB oversees. I made my offices available for an art show and a fashion show, sponsored activities for the Putnam Triangle Plaza launch party not too long ago... They have nothing to do with finance, but these events are a great way to way to engage the community. People come here and have a good time, but they can see that I’m serious about my commitment to the area.
###
For more information about Edward Jones, visit www.edwardjones.com or contact Wayne Ewan at Wayne.Ewan@edwardjones.com
FAB: Please describe your business and your role there.
Wayne Ewan: Edward Jones started in St. Louis in 1922, with the goal of giving Middle America and people of modest means access to the same investment opportunities that up until then had been geared almost exclusively to affluent people living on the East Coast. From the beginning, Edward Jones has been focused on solid, disciplined investing—not chasing the latest fads or getting caught up in high-risk investments. We generally follow a risk-averse, “buy & hold” strategy, which is about long-term investing. Edward Jones has a unique business model and philosophy; it’s definitely not your typical financial advisory/investment firm.
I think of my role as a "financial fitness trainer." My job is to help people establish a financial goal, and make sure that their money is working towards that goal.
FAB: How did you get started in the business?
Wayne Ewan: After graduating from Columbia University with an economics degree, I worked at several large Wall Street investment firms. But I was looking for a greater sense of purpose. So I left Wall Street and worked as a math teacher for a number of years. The work suited me, but I found the bureaucracy stifling. 9/11 really made me question my purpose in life. Making money was secondary at that point. I just wanted to give something back to the community. That’s what led me to Edward Jones.
It’s a perfect mesh of my finance background and teaching. I actually spend a lot of time educating clients on the merits of certain investments, about managing risk, certain tax advantages that are available. I do free seminars and provide free access to a lot of information. For example, a portfolio consultation at Edward Jones is free. That it’s free is important—it’s a key aspect of Edward Jones’ grassroots approach. The company doesn’t do a lot of advertising; this is an organic way to let people know about us, what we offer.
So yeah, financial education was a natural fit for me. I still tutor students and speak at schools on finance topics—careers in finance, saving for college. It’s important, I think, not least because for most people dealing with finance is unpleasant. It’s like going to the dentist. People don’t have the time or the knowledge. They need someone they can trust, someone they can turn to for advice and to help them get their finances together.
FAB: How long have you been on Fulton Street and what made you select the area for your business?
Wayne Ewan: I’ve been on Fulton Street since 2010. I grew up in Canarsie, but I have roots in this community. I used to come here when I was in high school to practice track, and also lived here for a while in the ‘90s.
The Clinton Hill/Fort Greene area is very diverse, obviously, and has a rich cultural history. I’ve seen the area evolve from back in the ‘80's to where it is today. I thought what better place to establish a practice where you can best connect with the people that you serve? The chemistry here just seemed right for the office.
FAB: What do you love about the area?
Wayne Ewan: I love the energy. I love the people. I love the melding of the arts, finance, fashion, food, and families—all of which adds to Fulton Street's eclectic charm and unique character. There’s a renaissance taking place right under our feet!
FAB: What would you recommend to other businesses on Fulton Street to help them succeed?
Wayne Ewan: It's important to be engaged with the community. Get out there and meet the other business owners and individuals in the community. Establish relationships to network and build connections, instead of working alone as a solitary business without the support of fellow business owners and organizations like FAB, the Brooklyn Chamber of Commerce, Fort Greene Association, or any other entity that supports our business efforts.
FAB: What would you like the community to know about your company?
Wayne Ewan: Every aspect of Edward Jones' business, from the type of investment options 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 12,000-plus financial advisors work directly with nearly 8 million clients to understand their personal goals—from college savings to retirement planning and life insurance needs, as well as small independent business owners.
Our primary goal is to create long-term strategies for their investments 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; and helping them to understand the investment options available today.
FAB: What would you like the community to know about you, as the proprietor of this business?
Wayne Ewan: I see myself as a resource for the community. I work with clients daily to address their basic financial issues. In a community like ours that is growing and evolving, and as financial matters become more and more complex, having someone you can talk to who’s trustworthy and is located right in your neighborhood is paramount.
Also in the vein of being a community resource, I’ve made a point of supporting local cultural activities, including many that FAB oversees. I made my offices available for an art show and a fashion show, sponsored activities for the Putnam Triangle Plaza launch party not too long ago... They have nothing to do with finance, but these events are a great way to way to engage the community. People come here and have a good time, but they can see that I’m serious about my commitment to the area.
###
For more information about Edward Jones, visit www.edwardjones.com or contact Wayne Ewan at Wayne.Ewan@edwardjones.com
