In a move to better serve its clients, financial advisory firm Edward Jones plans to launch the Edward Jones Bank. The Jones Financial Cos. LLLP announced Wednesday it has submitted applications for the industrial bank, which would be chartered in Utah and insured by the FDIC. If approved, the bank would help Edward Jones better serve clients’ needs for saving, spending and borrowing, the firm said in a press release. The St. Louis-based firm’s 19,000-plus financial advisers serve more than 7 million clients with a total of $1.2 trillion in client assets. “We’re hearing from our clients that they are looking for a centralized source for saving, spending and borrowing,” said Matt Burkemper, Edward Jones principal responsible for banking. The company believes the bank’s operations could begin in late 2021.