About 11% of Edward Jones advisors have a military background, as did its founder.

Veteran’s Day is more than just the one day a year at Edward Jones, where 11% of financial advisors have a military background.

In celebration of Veterans Day this year, the St. Louis-based firm announced it has hired more than 1,250 military veterans as financial advisors since May 2012 and is on track to meet the firm’s hiring objective of 500 veterans in 2014.

“Military veterans possess the necessary competencies and skill sets that align with, and greatly complement, those needed to be a successful financial advisor,” said Jim Weddle, managing partner of Edward Jones, in a statement.

The Department of Labor reports that only 4.5% of employed veterans are employed in the financial industry, and it is widely known that there is a significant need for quality long-term careers for veterans returning home from service.

The firm has an extensive history with hiring and mentoring veterans.

“Hiring veterans is ingrained in Edward Jones’ history, stemming from the tenets of our founder Edward D. Jones who served in the Navy in World War I,” Weddle added in a statement. “As a firm, we remain committed to offering rewarding, long-term careers for these veterans and are proud to call them Edward Jones employees and partners.”

Over three years ago, the firm launched FORCES, a program that provides training and a compensation package designed specifically for military veterans, in May 2012.

This initiative has helped the firm’s military veteran ratio remain constant around 11% even as the firm continues to grow. Of Edward Jones’ more than 13,000 advisors in the U.S., the firm now has more than 1,500 financial advisors with prior military experience total running branches across the country.

In addition, Edward Jones has partnered with the National World War I Museum at Liberty Memorial in Kansas City, Missouri. The partnership includes naming rights for the Museum’s Research Center and supports the Centennial Flag program, which honors specific veterans by having a U.S. flag flown in their name.

The firm’s initiatives over the past years have not gone unnoticed. The firm was named a 2014 Most Valuable Employer for Military by CivilianJobs.com, which recognizes the St. Louis-based firm’s deep commitment to recruiting, training and retaining military veterans as financial advisors. G.I. Jobs also recognized Edward Jones and the FORCES program on its 2014 “Military Friendly Employer” list, and Military Times EDGE ranked the firm on its 2013 “Best for Vets” ranking.

 

—Related on ThinkAdvisor: