Penny Pennington had worked for Edward Jones for some 17 years when she was named the managing partner in 2019. It was a remarkable moment for the venerable firm. She was the first woman to lead the company and only the sixth managing partner in Edward Jones's 100-year history.
She says she's heartened to see so many more women in the industry — particularly at the executive level — than there were when she started out back in 1985. "I have had a front-row seat to see the impact of women in the financial services industry for nearly 40 years," she said.
Pennington, who oversees some 50,000 employees, says that in the past year she has helped the firm accelerate its mission to deliver what she calls human-centered complete wealth management to the 8 million clients Edward Jones serves.
One of the accomplishments Pennington pointed to is investing $1.5 billion in technology infrastructure, digital initiatives and virtual tools to help strengthen the relationships between the firm's clients and their advisors.
Pennington also noted that the firm has committed to greater flexibility and choice for its advisors through the ability to co-locate their branches with other advisors in shared office space while also maintaining their own individual client relationships. "This approach allows us to meet the needs of our financial advisors and our clients," she said.
Looking ahead, Pennington said the industry still has a ways to go. "My hope is that more women say 'yes' to opportunities that are outside their comfort zone, but in fact are places where their very relevant experiences and talents are much needed. Personal, professional and enterprise success will all follow from that."
