Edward Jones

www.edwardjones.com

Edward Jones Reviews

Updated January 27, 2015
Updated January 27, 2015
955 Reviews
3.8
955 Reviews
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Edward Jones Managing Partner Jim Weddle
Jim Weddle
640 Ratings

Review Highlights

Pros
  • If you choose the team carefully you can have a good work/life balance (in 43 reviews)

  • Great training especially if you have limited to no financial knowledge (in 70 reviews)


Cons
  • It can be tough to see enough decision makers by going door to door during the daytime (in 57 reviews)

  • Door knocking was one of the hardest things I've ever done in my life (in 68 reviews)

More Highlights

251 Employee Reviews Back to all reviews

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  1.  

    Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Edward Jones

    Pros

    Excellent training, great instructors, lots of potential to do exceedingly well if you are self motivated and focused

    Cons

    Extremely long hours and a lot of rejection

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Low pay but stable

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Team Leader in Tempe, AZ
    Current Employee - Team Leader in Tempe, AZ

    I have been working at Edward Jones

    Pros

    You will never get laid off and there decent opportunities for lateral movement. Good core values and care for client. Strong leadership and culture.

    Cons

    Not much in terms of career growth outside of leadership roles. Annual salary increases don't even keep up with inflation. Caps of 10% for raises for promotions regardless of pay grade. Its better to leave the firm for another job and then come back at a higher wage, which happens often. Financial advisors are the only revenue source and that's where compensation is focused.

    Advice to ManagementAdvice

    Get rid of the ridiculous 10% cap.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3.  

    Edward Jones is a good place to work BUT ONLY for a certain individual.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

    I worked at Edward Jones (more than 3 years)

    Pros

    Flexibility, availability of information on their servers, home office support, competitive starting wages

    Cons

    You need to be able to read between the lines. Edward Jones is not as glamorous as they make it sound initially. There is a lot of smoke covering what is really going on. If you want to work in sales, if you want to work by yourself, then this is perfect for you. If you want support and you prefer to have a team or some structure, this will be a nightmare for you. My advice to anyone considering this job: If you are happy doing door to door sales, go for it. If for one moment you have any doubt about that, that it will grow on you, or you can generate leads any other way, don't waste your time or the company's time - this is a sales job and strictly a sales job. They have a system and a process - they don't care to hear your creative ideas. You either fit the mold or don't. Bottom line.

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  5. 1 person found this helpful  

    Low hourly pay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - BOA Branch Office Administrator in Phoenix, AZ
    Current Employee - BOA Branch Office Administrator in Phoenix, AZ

    I have been working at Edward Jones full-time (less than a year)

    Pros

    Potential Growth, opportunity to gain education in the financial industry.

    Cons

    Highly regulated industry, outside business activities or 2nd job must be approved. Very low hourly wage starting out as a Branch Office Administrator Trainee. Lots of resources but poor training

    Advice to ManagementAdvice

    Improve pay for BOAs, provide more direct training and hands on demonstration of core activities instead of having BOA Trainee read for hours to figure out simple (but not intuitive) processes.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  6.  

    Flexible schedule, no room for growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Edward Jones full-time (more than 3 years)

    Pros

    Small Office staff, flexible scheduling, little supervision

    Cons

    Pay is not great for the amount of work done, no real room for growth, benefits are not great for the salary of a BOA

    Recommends
    Positive Outlook
  7.  

    Great opportunity, for the right person

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in El Paso, TX
    Former Employee - Financial Advisor in El Paso, TX

    I worked at Edward Jones full-time (less than a year)

    Pros

    Great study program to obtain licenses. Training is thorough during pre-licensing period.
    Local support is great. Fellow advisors want to see you succeed.

    Cons

    It's a great opportunity FOR THE RIGHT PERSON.
    Greatest con for me was not having an office (working from home). Affected credibility with prospective clients.
    Commission payout is low compared to other firms.

    Advice to ManagementAdvice

    Either build offices to hold all new advisors who don't have one yet, or expand existing offices that can hold at least two additional advisors.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 1 person found this helpful  

    Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

    I worked at Edward Jones

    Pros

    Great Training to prepare tor Series 7.
    Learn to acquire customers : knoking on doors. Looks ridiculous but it works over the course of the years. Just keep on doing it.

    Cons

    It takes time to see the light at end of the tunnel and mos of advisor get discouraged.
    Salary during the training period is not that great.

    Advice to ManagementAdvice

    review salary during training period
    more support to rookie financial advisors

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    Great place to work for job security, but with long hours low salary

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Home Office IS Division in Saint Louis, MO
    Current Employee - Home Office IS Division in Saint Louis, MO

    I have been working at Edward Jones full-time (more than 10 years)

    Pros

    Job Security if you're a decent worker, especially during recessions - see below. One of the first companies in our area of the US to fully support benefits for same sex couples.

    Cons

    Pay should be better, benefits aren't bad but healthcare deductible of $3k a year is pretty high.

    They need to hire more people. I'll say it again. They need to hire more people, because my particular team, if one person is out of the office, we're busy and behind in our work all that day. Two people and forget it, don't expect time to do any pending work or take a lunch. If you're lucky enough to be hourly, overtime is depending on the department. Zero is ideal, some allow zero overtime, others do allow a few hours. If you're lucky enough to be an hourly associate, you will be expected to work but your overtime will be paid, or, if your dept doesn't allow overtime, you'll be expected to leave as soon as your shift ends. But, most positions are salary. And, when asking leadership about hiring more people, the first answer is usually a chuckle and "but none of your people are working 50 hours a week, you can't be that busy" answer.

    Advice to ManagementAdvice

    I'm starting to see a lot of older practices that I never thought would or could be changed starting to change. For instance, home office associates that aren't in areas open to clients now get business casual every Friday. That used to be summer only, but after year and years of asking, they finally relented. They are making allowances for more and more people to work from their homes.

    Get with the times like you did with allowing benefits for LGBT partners of associates. You went out a limb doing that, you made many people angry, but you did the right thing and you were ahead of the curve on that. Keep doing more like that. Be a leader in trying to reign in income inequality by paying your people more money! Your people will thank you for it.

    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Great place to start a career in the industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Austin, TX
    Former Employee - Financial Advisor in Austin, TX

    I worked at Edward Jones full-time (more than a year)

    Pros

    Great culture, at least at the home office. Reputable image. Great training and support for new FAs. You get one of the best training in the industry to prepare for your series 7 and 66 exams. A lot of support when I was going through the application process.

    Cons

    Each region defers, but some regions (like mine) differ a lot from the corporate Edward Jones culture. My field trainer taught me absolutely nothing (not surprising since she used to mow lawns for a living before joining Edward Jones). A lot of gossip among advisors (thought this was really petty and shocking for a region that was predominantly male). Door to door sales can be very depressing. Edward Jones is like the Santa Claus of training new FAs, they spend a lot to train you, then dump you the second your regional leader doesn't think you're good enough. Regional leaders can sometimes be biased. Highest employee turn over in the industry, probably because they're using an antiquated model. Highest commission you'll get to earn at Edward Jones is 40% but other companies pay up to 75%, with 45% being the lowest you will earn.

    Advice to ManagementAdvice

    Stop giving FAs especially Vets and Regional Leaders so much autonomy. Let their autonomy be limited to their own branch and nothing more. Hire HR professionals in each region to carry out field training and regional leader exams. Just because someone has built a successful practice doesn't make them free of bias

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 5 people found this helpful  

    Not the place to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Chicago, IL
    Former Employee - Financial Advisor in Chicago, IL

    I worked at Edward Jones full-time (less than a year)

    Pros

    -It's great to have name brand recognition and the free marketing that comes with working for a known commodity like Edward Jones.
    -Great training program
    -Also, if you are looking to avoid micro management, this is the place for you.

    Cons

    It can be tough to see enough decision makers by going door to door during the daytime. This is a pretty big obstacle if this is your first time building a book. Also, the majority of new advisors do not have an office, which can create a perceived credibility issue in the eyes of prospects.

    Recommends
    Neutral Outlook
    No opinion of CEO

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