Edward Jones Reviews

Pros

Nice working environment. Good benefits. Nice culture. Good growth opportunites. Good training. Human resources was helpful to me, use them when needed.

Cons

Not all managers are created equal. Some are actually harmful to their staff. Organization is very big, make an effort to get noticed.

Advice to Senior Management

Not all managers are capable of leading their departments to be the best they can be and in some cases can do harm. Please make sure that training is being provided and follow up frequently.

Pros

Great div trips
Best training
Always someone willing to help you out
Never run out of things to do

Cons

Mental beat down.
If you start as a new new FA with Jones you need to have a long list of people that you already know that will invest with you.
As a new new FA your success is won or lost literally at peoples door step.
Big brother is ALWAYS watching.
Must drink the kool aid, the minimum number of contacts is 25 but they want you to do more then 25, so your goal is 30, but then you must beat your own goal so really you must get 35 contacts. If the number is 35, then say it is 35, don't be around the bush and say 25 contacts a day when the real goal is 35 contacts.
Really have to be mentally fit to accept failing 98% of the time, there have been countless days where I spent the entire day door knocking and never got anything out of any of those door knocks.

It is really funny because I looked at these comments before I accepted the FA position with Jones three years ago and I rationalized every negative comment with "well they just didn't do the work." But you don't know how difficult it is until you are forced to make some commissions on a street you have knocked 8 times or get let go.

Advice to Senior Management

I understand the physiology behind telling people make 25 contacts a day and you really want them to make 35 because it shows people going above and beyond (which is what it takes to be successful). But it is real mental beat down.

You know the horrific stats of new advisers failing in their first 3 years, so why haven't you done anything about it?

Pros

name recognition, mentor support, teaching trainees the right things to do when starting. the firm does not encourage you to sell to friends and family. however, everyone in this town has had their door "knocked on multiple times".

Cons

lack of screening in hiring of new fa's. nepotism, politics, existing books of business transitioning to new people vs. experience advisors.

Advice to Senior Management

many of their general partners need to check their egos at the door.

Pros

Freedom to manage own time

Cons

Commission only compensation, work environment can be isolated at times

Advice to Senior Management

Adapt to the marketplace better. There are no efforts to cater to the do-it-your selfer.

Pros

Very happy with my experience, management is open and willing to help you learn. Lots of development opportunities and people want to see you succeed.

Cons

Pay not as much but work life balance great

Advice to Senior Management

Keep associate development top of mind, nothing more valuable than investing in talent!

Pros

Good employee development and training.

Cons

Expensive benefits. A couple of bad mid level managers

Advice to Senior Management

Evaluate the mid-level leadership

Pros

No capital expense up front
World class training
Regional support from other FA' s is amazing

Cons

Need to be more realistic with new hires about the difficulty of the first few years
Prospecting gets old after a while (make sure you really enjoy financial services).

Advice to Senior Management

Very open and clear on direction of the firm. Keep up the culture. Need heavier focus on current branch support, and not as much on saturating markets with more branch offices.

Pros

Ability to run your own business, be your own boss, set your own hours, and directly benefit from YOUR hard work. Great to be part of a "family" that enjoys watching you succeed and is always willing to help.

Cons

No easier than starting any other business that will take great care of you and your family. Most people don't have what it takes to understand that it doesn't become a success over night, it takes relentless effort day in and day out.

Advice to Senior Management

Don't sacrifice good people out there making it happen due to increased standards that are in place to afford the aggressive growth strategy of adding nonproven candidates/advisors.

Pros

As long as you sell and your numbers are where EJ wants them to be, you'll have freedom and everyone will tell you how great you are. great HQ support if you know how to ask the right questions.

Cons

Unless you get some assets. i.e. 10Mil plus. Your going to have a very very hard 4 years. even if your hitting goals your not making much, and the stress gets to the strongest person. After the first year ends , so does the salary. Thats when it realy get stressful. your going after 401k rollovers and small amounts of savings people have in the begining. Rollovers can take a week to over a month.
if starting from scatch or you get a small book. plan on living on 3k a month for the next 3 years.
yeh you might have a really great month but it will be followed by a terrible one.

Advice to Senior Management

3 years of salary guarentees. Stop thinkg that its OK to lose 300 advisors a month because you hired 301 that same month.

Pros

People start off at Edward Jones for the financial advisor training to get started. But the training only gets you started...

Cons

After the training and a few years in the field, you begin to realize how limited you are within the Jones business model.