Edward Jones Reviews

Updated October 23, 2014
Updated October 23, 2014
899 Reviews
3.7
899 Reviews
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Recommend to a friend
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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 69 reviews)


Cons
  • Out of date prospecting, door to door simply doesn't work in some areas (in 53 reviews)

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

More Highlights

Employee Reviews

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  1. 5 people found this helpful  

    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 (more than an 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
  2.  

    If you like to be always busy for not much pay, it's great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Network Support Specialist in Saint Louis, MO
    Current Employee - Network Support Specialist 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
    No opinion of CEO
  3.  

    Great Opportunity - If You Like Prospecting

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

    I worked at Edward Jones full-time (more than 3 years)

    Pros

    Work-Life Balance, Training, Office Set-up, Products Offered

    Cons

    Be ready to prospect and network 80% of the time for the first 3-5 years. Hope the economy stays stable as well.

    Advice to ManagementAdvice

    Prospecting based on door knocking in your market area is useless in urban areas. Might have worked 40 years ago down on the farm. I would never give my financial future to someone who knocks on my door looking for business.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    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
  6.  

    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
  7.  

    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 (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
  8.  

    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 (less than an 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
  9. 6 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 (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
  10. 5 people found this helpful  

    Cult with plenty of Religion, but no Truth.

    • 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 5 years)

    Pros

    Edward Jones helped me get into the industry and helped with some of the basic office costs to get started. The Diversification trips can be a lot of fun and many of the Edward Jones Employees you meet are fantastic people. Numbers are easy to hit if you work exceptionally hard.

    Cons

    You will not be reimbursed or compensated for most expenses ( advertising, client meals, stamps, anything above a physical building you need)
    When you leave they will use every corrupt business practice possible to destroy your business (manipulate regulators on your U4, numerous threatening letters, outright culture of manipulation of you being bankrupt or accusations of breaking the law to your former clients, etc.).
    You will be subject to AMT tax and eventual IRS harassment if you invest in the business and you will at minimum be forced to pay payroll taxes on expenses you incur (all income goes on W2 with no possibility to run threw P/L of branch, leaving the IRS to question if you are an employee where they pay everything (see state lawsuits) or if you are spending this money for fun).
    Company uses unethical business practices involving revenue sharing and pushing of preferred funds in even fiduciary accounts.
    Partnership is the carrot on the stick that forces you to "volunteer" to "train" new employees, help with regional activities, or in essence be a slave to there will for NO COMPENSATION.
    Quota information is very manipulative. They base everything on 100 percent level for the hiring guide implying that is the bare minimum or normal production of an Advisor. In reality 40percent is the minimum and 100percent is not standard and the 200percent on there compensation guide is fictitious.
    If you will read there 10k you will notice that the overall goal is to enrich general partners at all cost and reward past workers at the expense of the current workers (Ted Jones wouldn't share his business with his Sisters for this very reason ironically).
    Technology is pathetic and you have far less tools as an Advisor than an individual has on an online account.
    If you leave your Edj "friends" will cuss you out and drop all connections, and possibly even threaten you. Past trainees are so scared an EDJ drone is outside our office that they shake when they come in, just like a battered woman trying to leave an abusive husband (see NFL)
    Proof of all these above is the fact that rarely do Advisors that are independent and successful come back, and the grass is greener elsewhere.

    Advice to ManagementAdvice

    Not caring to do an exit interview when a Financial Advisor leaves shows your true colors and would help the firm. Your business is broken and deserves to die.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 3 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 (more than an 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

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