Edward D. Jones & Co. has taken a minority stake in a fintech company that seeks to help prevent elder financial fraud, according to an announcement.
The St. Louis-based firm has invested in Carefull, a service that monitors accounts and sends a notification to the client or a trusted contact if it detects suspicious activity. The service said it scans transactions and monitors credit reports, email, home titles and other sources for signs of scams or cognitive decline.
Edward Jones’ roughly 20,000 brokers can offer Carefull for free to the firm’s 9 million clients as part of the investment, according to the announcement. The move comes as advisors have frequently found themselves on the front lines as customers show signs of decline or financial exploitation.
Americans over age 60 reported more than $7.7 billion in losses from cyber-enabled financial crime in 2025, according to an FBI report.
“Protecting wealth today means protecting people, especially during moments of vulnerability,” David Gunn, head of U.S. and Canada business units at Edward Jones, said in a statement.
Edward Jones did not disclose the size of its investment. Carefull, which was founded in 2019, has raised around $20 million total. The startup’s customers also include $700 billion-asset broker-dealer Osaic and several RIAs, including $21 billion-AUM Integrated Partners and $4.6 billion-AUM Quotient Wealth Partners.
Carefull’s competitors include EverSafe, which has a partnership with Raymond James, and True Link Financial, which offers spending controls and oversight tools designed for older adults and their families.
Carefull Co-Founder Todd Rovak noted that access to account activity and financial communications is on a read-only basis, and the company cannot take any kind of direct action on a client’s behalf. The average client connects 5.2 accounts, he added.
“Financial safety is no longer a nice-to-have, it is becoming central to how firms support families, protect relationships, and preserve financial confidence,” Rovak stated.
Since Edward Jones clients started enrolling in Carefull on June 15, the product has garnered “strong early interest,” Greg Robinson, head of corporate development and venture capital at Edward Jones, said in an email.
Edward Jones’ venture capital unit, which launched in 2024, has taken stakes in a number of other fintech companies, including estate planning firm Vanilla, long-term care planner Waterlily and annuity management program Porch Software.
