Edward Jones Reviews

Updated October 17, 2014
Updated October 17, 2014
899 Reviews
3.7
899 Reviews
Rating Trends

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

Review Highlights

Pros
  • If you choose the team carefully you can have a good work/life balance (in 42 reviews)

  • Great training especially if you have limited to no financial knowledge (in 68 reviews)


Cons
  • Out of date prospecting, door to door simply doesn't work in some areas (in 52 reviews)

  • Door knocking was one of the hardest things I've ever done in my life (in 66 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Positve

    • 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 (less than an year)

    Pros

    Great training, supportive, full licensing, salary to start.

    Cons

    Pure sales. Door to door prospecting better in some locations than others.

    Advice to ManagementAdvice

    Better to start in a team or pairing environment with another financial advisor to start. Would increase success rate.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great Support and Pay if you can get on with them

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    Current Employee - Senior Branch Office Administrator in DFW, TX
    Current Employee - Senior Branch Office Administrator in DFW, TX

    I have been working at Edward Jones full-time (more than 5 years)

    Pros

    Excellent Support, Low Stress, Great Retirement Plan, No Micro-managing, Good Hourly Pay, You do NOT have to have a degree

    Cons

    Fixed Income. As a BOA your bonuses are tied to the success of the advisor you are supporting which can change at any moment. No chance to make additional income if you have a new or low-performing advisor so bonuses are not guaranteed. No chance for advancement unless you go commission only and become an FA. Health Ins is high deductible/HSA (but they do contribute to HSA) it's ok if you don't have kids

    Advice to ManagementAdvice

    Offer BOA's a decent base salary to become advisors, they know the position and what it takes to be successful here but are not given the same chance as outside recruits who sometimes are less qualified and knowledgeable. Also veteran BOA's sometimes are stuck getting no branch bonuses because of turnover while a brand new BOA may be receiving thousands in bonuses if she gets assigned to a more stable advisor. This creates animosity and says that tenure is not valued or rewarded.

    Recommends
    Approves of CEO
  3.  

    Company

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

    I worked at Edward Jones part-time

    Pros

    Good work, good money, good career

    Cons

    Long hours, customers, not enough training

    Recommends
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  5.  

    Great Company, great training, need assets

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

    I have been working at Edward Jones full-time

    Pros

    Culture is great; people actually want you to succeed (may be skewed because of the whole partnership thing); help from senior advisors

    Cons

    door knocking; not everyone starts with assets, based on a region by region basis; my friends all started with assets and they're doing well, but my region is very young; sense of territories with new FA's always coming to your town

    Advice to ManagementAdvice

    Let a new advisor get his/her feet under themselves before sending in a new FA in that same town; 2 months isn't really a long enough time

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    A wonderful company to work for. I can't imagine working anywhere else.

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

    I have been working at Edward Jones full-time (more than 8 years)

    Pros

    They provide a great deal of back office support that is easily accessible by department topic. All employees are given a great deal of training. Jones is selective in whom they hire resulting in a better class of employees who are smart and willing to work hard. Edward Jones has a very high level of integrity.

    Cons

    They need to sell a wider array of investments and reduce their commission of stock purchases to get more in line with the ability of clients to simply go online and buy it.

    Advice to ManagementAdvice

    Nice job everyone!

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great training, poor contract in a right to work state. Clients come last.

    • 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 (more than 3 years)

    Pros

    Great training and licensing. Opportunities are available almost anywhere. They offer full benefits.

    Cons

    Three year contract. Easy to churn clients accounts to make quotas. Clients interest are not always first.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Humbling Experience

    • 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 (more than an year)

    Pros

    Great culture, decent resources, ethical business practices, zero accountability (nobody was checking in on my production outside of my 4-month rolling average).

    Huge income potential after a few years in the business.

    Cons

    2nd year advisors may have difficult time as the salary drops off. You must have an established office by then to succeed.

    Very image oriented. You have to plant yourself in the community and always play the part with everyone, friends, family, and new acquaintances.

    Zero accountability. I could disappear for a month without so much as an email checking on me. Maybe that was just my region, but it's tough to remain accountable to yourself with such a low commission payout (20-25%). I could only muster it for about a year before I burnt out. New advisors without prior experience have very low success rates, at least in my region.

    If you pursue this career, you truly have to put blinders to the rest of your life and live, eat, and sleep Edward Jones, at least for the first couple of years.

    Advice to ManagementAdvice

    Revise the current commission structure for new advisors. 20% is ridiculous. At the time in an FA's career when new business is hardest and gross commissions are lowest (meaning a lower $ amount for you), why do you offer the lowest incentive? Lower the salary if you must, but I tell you from experience, it's deflating to bring in your first decent $8,000 month and get that first check for $1,200. Frankly, commissions were an afterthought when it came to motivating me to find new business. The only real motivation I ever had was to meet my goals so that I could keep my job and maybe get an office.

    As far as training goes, I think field trainers should be required to teach Edward Jones policy. You have to know the right way first before you can know where you can ethically take shortcuts. I don't think it's a problem company-wide, but that's the one instance where I don't take full responsibility...I got dealt a crummy hand on that one.

    Also, encourage regional leaders to reach out to new FAs and talk about their progress. I was passed over for a new office after 6 months even though I was exceeding performance standards, and after that my heart just wasn't in it anymore. I'm not saying I shouldn't have been passed over - the new FA had better numbers and more experience. But I never got a phone call, an email, or anything. I called my RL on two occasions to talk about offices and goals, but each time he said I'd have to get more accounts before we could talk about an office. Again, I don't blame him for it as it was perfectly reasonable and entirely within my control, but it was difficult to go full throttle for a vague promise of an office in the future, especially when I'd already been burned.

    I've never truly tried and failed at something until now. I believe 100% that I would've been successful if given an office, but I completely burnt myself out on door-knocking. Overall, I'd still say my experience was positive one that I don't regret in the slightest. I'm humbled and thankful to Edward Jones for the opportunity.

    Recommends
    No opinion of CEO
  9.  

    Great Place to Grow

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Banking Analyst in San Francisco, CA
    Former Employee - Investment Banking Analyst in San Francisco, CA

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

    Pros

    challenging work environment, great benefits, loved working with my peers. Leadership was quite strong, very organized.

    Cons

    Large company, sometimes it can be easy to get lost, or lose your footing. Long work hours, 6 days a week usually 80-90 hours per week.

    Advice to ManagementAdvice

    Better work/life balance.

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Good place to start but only works for some people in some situations

    • 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

    Pros

    This is a business opp not a job, but They start you off with a salary while you learn the ropes, which is definite plus.
    the initial training - in-house is pretty good.
    They have good systems to manage portfolios

    Cons

    Not all territories allow equal success, Door knocking does not work in some areas because home owners lump you in with all the other door knockers (gas co's, phone companies and con artists) I can see where this worked in rural areas, small towns etc but in metropolitan areas it is very very very difficult. Door knocking is the shotgun approach when all the competitors are using networking, focused marketing etc.

    while they give decent in-house training and in some area coaches but there are too few, they assign you to a veteran who is in the business and running and office. If you get a crappy veteran or one with no time for you (these guys volunteer to get partnership bonuses etc, some help but some are just in it for bonus and don't really offer anything), you are dropped off into the deep end and you would probably drown. hence the turn over. The people who thrive came from banks and other FA organizations and had clients to start off with or had a network of qualified prospects.

    Advice to ManagementAdvice

    more coaches, better demographic info so that a new advisor actually have a match to the territory or not over saturate the area.
    Train the new advisors to get leads from networking rather than only/primarily from door knocking.

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    I absolutely love my job and what an awesome culture!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Research Analyst in Saint Louis, MO
    Current Employee - Research Analyst in Saint Louis, MO

    I have been working at Edward Jones full-time (more than an year)

    Pros

    - The job is absolutely demanding and challenging, but work/life balance is still a priority
    - The Research department is a bunch of really down to earth and intelligent individuals. I feel like I'm just so happen to be showing up to the same building ("the office") to do work with friends.
    - This is the one place I've worked where when they say "put the client/customer first" they absolutely mean it. The number of discussions and debates we have that have simply been ended by thinking about what would be best for the client is remarkable. Jones truly does care about its clients.
    - Pay is pretty sweet, but appropriate for the magnitude of impact our work has on the business. If you adjust our salaries for work-life balance (number of hours we actually work), we'd be above the AVERAGE wall street analyst.

    Comp (my findings/experience only):
    Associate Analyst (65-85k base salary, plus 10-15k bonus average) - totally depends on your level
    Analyst (90-100k base, plus 40% bonus potential)
    Senior Analyst (110-120k base, plus 60% bonus potential)

    The importance of the work we do in research can actually be stressful, because we are impacting/influencing hundreds of billions of clients' investments. Many times, the returns that a client can experience from their holdings is as a result of our recommendations. We have a big job to do, but if you're passionate about this stuff like me.. it's so much fun, so the pay is just awesome.

    Cons

    - Sometimes it can feel little bit like it's a drinking the kool-aid type of culture, but really... that's really not all that uncommon elsewhere and isn't THAT big of a deal here. It's only because the culture is so deep rooted in the company's foundation and we still have employees who were around from the beginning and live and breath "Ted Jones".
    - The high deductible health-care just plain old sucks... I hate feeling BAD about going to doctor because I'll have to pay a lot for it.
    - Vacation time, though not terrible, just feels terrible. 2 weeks to start, 3 weeks after 3 years at the company, and you get 4 weeks only after 10 years of working at the company! You do get 5 weeks if you've been around for 20 years though, haha.

    Advice to ManagementAdvice

    I think the SFA survey you all do to guage employees satisfaction regarding many topics is awesome and truly critical. Please continue relying heavily on them and use them as a catalyst for improvement/change.

    Recommends
    Positive Outlook
    Approves of CEO

Work at Edward Jones? Share Your Experiences

Edward Jones

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.