Edward Jones Managing Partner Penny Pennington is the newest member of the Financial Industry Regulatory Authority Board of Governors for large-firm members, according to the agency.

Pennington was elected during a special meeting held on Monday to fill the seat that had been left vacant when ProEquities President and CEO Christopher Flint resigned his seat in June. In total, FINRA’s Board of Governors consists of 22 members, including 10 industry members, 11 public members and FINRA’s CEO.

The makeup of industry governors includes three selections from large firms, along with one from medium-size firms, three from small firms, as well as one floor member, one independent dealer/insurance affiliate and one investment company affiliate, according to the agency. 

Small firms are defined as employing less than 150 registered reps, medium runs from 151-499 individuals, while large firms are defined as those employing 500 or more registered individuals.

“Penny’s leadership experience and knowledge of the industry will make her a valuable contributor to the Board of Governors’ oversight of FINRA’s efforts to protect investors and ensure market integrity,” FINRA Chair Eric Noll said

Pennington said she was “excited to share her knowledge and experience” as a part of the board.

Pennington, who originally hails from Nashville, Tenn., joined Edward Jones as a financial advisor in 2000, and in 2019 she became the first woman in 100 years to lead the firm as managing partner (she’s the firm’s sixth managing partner, according to FINRA). Prior to Edward Jones, Pennington worked at Wachovia Bank and Comerica Bank. Pennington was one of’s Ten To Watch in 2019.

Earlier this year, Edward Jones introduced third-party planning software from Envestnet | MoneyGuide to all of its 17,000 U.S.-based advisors, replacing some elements of the firm’s original planning software, and also announced it was committing $1 billion to personnel, tech infrastructure and pilot programs. 

The firm also opened a multiple financial advisor office in Seattle in July; the firm currently has 30 active multi-financial advisor locations (with three to six advisors in one space) in 21 states, as well as 55 with two advisors and as many as 250 preparing to be opened, according to Edward Jones.

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