Edward Jones has invested in personal finance software Quicken to bring its budgeting and tracking tools to the network of over 20,000 financial advisors at Edward Jones.
Quicken enables users to manage spending, create and maintain a budget, track investments, pay bills, and plan for retirement. Edward Jones is acquiring a minority stake in Quicken, which has more than two million customers and is owned by Aquiline Capital Partners.
“If you followed Edward Jones recently or over the past few years, we're really on this big transformational effort, and we are looking for new and creative ways to serve our clients,” Greg Robinson, principal and head of corporate development at Edward Jones Ventures, told InvestmentNews. “Being able to provide visibility into their spending, saving, and investing picture [with Quicken] just was an amazing opportunity for our clients and our practice teams to be able to serve them even better.”
Menlo Park-based Quicken’s ownership under Aquiline Capital Partners is notable given the private equity firm's wide presence in financial services. Aquiline held a majority stake in SageView Advisory Group since 2021 until exiting its position last year in SageView’s sale to mega-RIA Creative Planning. Aquiline also previously bought and then sold compliance software company RIA in a Box.
“[Edward Jones’s] investment represents an important milestone as Quicken expands its capabilities to bring in more leading financial institutions, a key part of their strategy going forward,”Nick Seibert, principal at Aquiline, said in a statement. “For more than two decades, we have connected our portfolio companies with strategic investors who can deploy differentiated capabilities and distribution, and this investment exemplifies that approach."
Robinson’s Edward Jones Ventures also announced a partnership this week with financial fraud monitoring company Carefull. He said that Edward Jones had not yet determined the access workflow for Quicken’s adoption by advisors or whether Quicken will integrate into internal platforms at Edward Jones.
“We haven't fully determined that because when doing these things we want to take a very thoughtful approach to doing that, which would include client research, working with our practice teams, working with Quicken, and working really collaboratively together to determine exactly what experience would work best,” said Robinson. “At this stage, we don't have an expectation for adoption.”
Robinson described a “phased approach” to the planned roll out of Quicken. Earlier this month, InvestmentNews spoke to advisor Les Smith, who left Edward Jones after a decade to join LPL. “I think [Edward Jones] tried to evolve in the past several years. The problem is they were just very slow to unveil the new things that they wanted. It was just very time-consuming,” Smith told InvestmentNews. “A lot of stuff that rolled out, it was just delayed, and I was growing frustrated with that delayed rollout,” Smith added.
“We will take, as we normally do, a phased approach to the practice teams where they get an opportunity to learn and understand how this fits and how best to work,” Robinson said of Quicken’s rollout at Edward Jones. “I would expect it to be something that our branch teams and clients really want to use, and we are very thoughtful when we make these types of decisions. But we want to do it in concert with feedback from those varying parties.”
CNBC named Quicken among its list of best budgeting apps of 2026. The website homepage for Quicken lists pricing at $3.99 per month for its personal finance app and $4.99 per month for its business and personal finances tier intended for freelancers, self employed, small business and property owners.
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