Edward Jones Reviews

Updated September 17, 2014
Updated September 17, 2014
874 Reviews
3.7
874 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Edward Jones Managing Partner Jim Weddle
Jim Weddle
596 Ratings

Review Highlights

Pros
  • If you choose the team carefully you can have a good work/life balance (in 36 reviews)

  • Great training one of the best programs in the industry for training financial advisors (in 63 reviews)


Cons
  • Out of date prospecting, door to door simply doesn't work in some areas (in 49 reviews)

  • Door knocking was one of the hardest things I've ever done in my life (in 63 reviews)

More Highlights

Employee Reviews

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  1.  

    Good Company. Good Opportunity for growth.

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

    I worked at Edward Jones

    Pros

    Good opportunity for growth.

    Cons

    Pay is not up to par with other firms.

    Advice to ManagementAdvice

    Listen to the SFA results.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    A great place to earn a great living for people willing to work long hours and are emotionally resilliant

    • 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

    You work how and when you want, you are your own boss. There is nothing stopping you from earning as much as you want. Very good company culture.

    Cons

    Very long and stressful hours. Little personal time early on. Pay is not proportional to the amount of work in the early years.

    Recommends
  3.  

    FORCES Program

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

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

    Pros

    If you show them you want it and there are others that can see it then you are supported. I failed the series 7 the first time and was allowed to take it again. That is a rare occasion and is not advertised. Over 50% of those that tested failed and were not allowed to move on.

    Plus I had almost no out of pocket expenses. The licenses, training program, prospecting kit, postage stamps, marketing material, use of an office, a laptop, and even a secretary were all provided to me.

    The FORCES Program. Little people qualify and just as many know how it works. Simply it is an extended training program with more support. Traditional trainees get about 2.5 months I got 6 months. Other things I got that the traditional trainees don't get:

    1. Study at an Edward Jones office. An existing office with an FA, BOA, and working space.
    2. (No longer offered) the GI Bill while I am studying up til can sell. I received a supplement ($1000/mo) to my training pay of $15/hr.
    3. Branch training period of 7-10 weeks depending if you need to retake the Series 66. Time you can do modules, observe appointments with an FA, sit with the BOA, study for the insurance exam, and misc task.
    4. Extended prospecting time. Traditional trainees get about 7 weeks, I got 8. Doesn't look like much but the traditional track has to fit in the modules, insurance exam, and appointment observations along with getting prospects. I did that during branch training so all I had to do was prospect.
    5. Guaranteed Salary. The FORCES trainees upon can sell get an income guarantee of $6000 for 6 months. We have commission goals to keep in pace with but regardless get the income. We only get bonuses for new assets.

    Cons

    Its their way or the highway. You have to do it their way, face to face as they call it. If you're not with them, you're against them.

    Do not let the glamor blind you from the truth. Its a sales job and its about the numbers. When you show signs of the pipeline drying and no new assets then you are let go. From a business stand point it makes sense. If you can accept the truth early you will make it.

    The truth is you are going door to door, rain or shine. The best time to go "door knocking" are the times you would be home with your family, weekends, evenings, holidays, and prime vacation periods because the prospect is home.

    I didn't make it with them long. I was told when you are starving you should take anything. In my mind even when I'm starving I'm not going to change what I value.

    Recommends
    Approves of CEO
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  5.  

    High performing organization with a great culture!

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Finance  in  Saint Louis, MO
    Current Employee - Finance in Saint Louis, MO

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

    Pros

    The people are incredible and make for a great environment; Great benefits and strong culture; It's easy to make an impact on the organization for someone that's motivated, seeks responsibility, and is focused on doing what's best for the firm.

    Cons

    Operates very lean (in terms of people resources), which leads to nearly always feeling like there's too much work to get done (the trade off is people aren't viewed as a line item to be cut when revenue declines); Overly focused on continuous improvement and new "projects" to evolve the business without recognizing the need to hire resources to achieve these objectives ; Advancement is elusive and difficult to achieve.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Awesome company!

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

    I worked at Edward Jones as an intern for less than a year

    Pros

    The people are absoultely wonderful to work with! I truly enjoyed my time working there

    Cons

    It's difficult for an external candidate to start anywhere other than the bottom... Very long interview process

    Recommends
    Positive Outlook
    Approves of CEO
  7. 2 people found this helpful  

    FA--not really.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor Trainee (FACD)  in  Birmingham, AL
    Former Employee - Financial Advisor Trainee (FACD) in Birmingham, AL

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

    Pros

    If you like being on your own, this will be the place for you. Good home office support if they understand their role. Might have to call 2-3 times to get correct answer because of new employees. You are on your own, but you have home office looking over your shoulder.

    Cons

    As long as you stay under the radar of home office, but the minute you don't, watch out. Support is good at home office generally; however, not all support is good. If you are lucky enough to have a assistant, then they have to support you---but they can really mess you up. They are angry when you can come and go as needed unlike a assistant. They can be a wonderful thing, but they can be more of a problem. Other advisors have great assistants, but since the pay is so low, a assistant can go to another job making about $10K more than EJ. Can't move for advancement with advisors. Where you are is where you will be. Benefits are awful!!!!!!!!! 401K is great, life insurance too, but health care is absolutely terrible. Too high of a deductible along with premium. Have to pay for everything in office down to the toilet tissue.

    Advice to ManagementAdvice

    Learn ways to advance the FA's with higher payouts like independents.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 4 people found this helpful  

    Not bad for a brokerage, but still...you're not an entrepreneur

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

    I worked at Edward Jones full-time for more than 5 years

    Pros

    Company has more extensive training than others in brokerage industry, loves you if you are a competitive hetero white male with a wife and kids who can support you, does not force brokers to sell proprietary products, has a conservative investment philosophy that rarely hurts clients (but they don't know what they're missing).. Supportive in terms of offering help from other brokers in the region. Great company for brokers in small towns with no competition.

    Cons

    They say it's your own business, but it's not, you're an employee and are replaced immediately. All they want you to do is sell, they don't tell you about costs of your office, you don't negotiate your own lease; there are quotas and production requirements, and they often move the line up, no one is safe. The only way to be successful here is to go into a LARGE (not a small) office of someone who left -- and be careful that they didn't jump ship and will take clients. You want the office of a retiree. They have one way to do things -- doorknock, then repeatedly call prospects -- and if you don't want to do that, or it doesn't work in your large or mid-sized city, they don't know what else to do and you must not be doorknocking enough. Just started offering advisory accounts and investments are chosen by home office, there is little choice for broker. They will fire a broker who doesn't have the numbers, give his office to someone who is new, lose a lot of clients who liked the old broker, and it'll take 2+ years for the new guy to get to where the od guy was before they canned him, plus clients are lost and damage done to brand. That's the biz, though. They're not the only ones who do it.

    Advice to ManagementAdvice

    Huh? They're not listening. They've got a formula, and they're working it.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. 5 people found this helpful  

    This is a great company that cares about its clients and employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor  in  Atlanta, GA
    Current Employee - Financial Advisor in Atlanta, GA

    I have been working at Edward Jones full-time for more than a year

    Pros

    Everything at Jones is above board and ethical. If you work hard, do what you know you need to do, you can be very successful. There is no pressure to push one product or another, people do genuinely care about the clients, and anyone in the firm will help you.

    The div trips are great, payout is good and getting better.

    Cons

    The door knocking model is not for the faint of heart. Everyone had to do it, so it does work, but it is exhausting.

    Advice to ManagementAdvice

    We need marketing that appeals to more than the nickel and dime client. The old model of appealing to country folks needs drastic updating to appeal to the sophisticated urban/suburban clientele.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Take a good look at everything before you leap

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor  in  Detroit, MI
    Current Employee - Financial Advisor in Detroit, MI

    I have been working at Edward Jones full-time for more than a year

    Pros

    Great Training for sales, Get in the right region and the Vet FA's will help you and will be genuine about it. Home office is great support, hard work will pay off, and they will give you a salary to help you until you get your feet on the ground.

    Cons

    Get in the wrong region and it will be a hellish place to work, a lot of Edward Jones offices in the area makes it hard to do "Face to Face" (Door Knock), Will allow other offices to poach your accounts if they are high producers, want you to concentrate on sales on planning, Health Care deductible is way to high, they hold your hand and have portfolios made for you, they do not support your outside mutual funds so if you provide them and something goes wrong you pay for your own lawyer, the mutual you will provide create a conflict of interest for you because they are sharing in revenue with the mutual fund companies, stick with an outdated business model, low pay at beginning even with salary, and they only care how much money you make if you don't make enough then they try and push you out. You will work 65-80 hours a week. Edward Jones claims that they pay for everything, but they do not. You have to cover your own costs. It pretty much comes out of your pocket. Behind on times.

    Advice to ManagementAdvice

    Train the adviser's to actually create a financial plan, lower the cost of advisory, and encourage them with out steep performance lines. This causes people to put clients into commission first and then 2 or 3 years down the line they switch to advisory, even if they qualified for advisory in the 1st place. Give advisory's more flexibility when it comes to advisory. Allow an individual to think about signing off to take over an office, don't make him feel like saying no is a dumb idea. The last thing is stop telling us what we are doing wrong and at least celebrate some of our success's. There is more but I am going to stop there.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11.  

    Must drink the kool-aid

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

    I worked at Edward Jones full-time for more than 5 years

    Pros

    Excellent training for financial advisors.

    Cons

    Financial advisors are not treated well unless they are star producers. The commission is tiny compared to independent FAs. The business model of one FA per office is extremely outdated and cost-inefficient.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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