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Helpful (2)

Great Company and the BEST training program for a New FA!

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Financial Advisor in Garden Grove, CA
Former Employee - Financial Advisor in Garden Grove, CA

I worked at Edward Jones

Recommends
Approves of CEO
Recommends
Approves of CEO

Pros

If you're new to financial services industry and are interested in finding out more, but don't know where to get started, Edward Jones has a New FA development system that is only matched by a select few. It's a system where anyone that's willing to put in the honest work can achieve a relative level of success. The training program is bit exhauting, but very comprehensive and it is designed to help anyone with at least half a brain pass the 7 and 66. Their structure of 1 office, 1 FA and 1 assistant allows complete freedom to operate your branch as you see fit, as long as you're hitting the production goals. The production goals for a new FA are by far the lowest in the industry, compared to other wirehouses. Also, it doesn't tell the whole story, the company is featured in the Fortune Magazine year after year as one of the best places to work in USA. You certainly will get respect from your family and friends just for that fact. They offer competitive payouts, about the same as wirehouses, but higher than a bank FA. Company also offers you a chance to qualify for a "Diversification Trip" based on your own merits and performance, rather than being measured against your peers. Who ever meets the performance criteria are eligible to go. After a few years of service, you can also participate in its own limited partnership offering and maybe possibly become a general partner eventually.

Cons

It's a one size fits all training program, and if you abhor even the thought of knocking on people's doors, then this is not a job for you. Their medical insurance is everything that is wrong with our current health care industry, expensive and not helpful. 1 office, 1 FA and 1 assistant structure can become lonely and many Edward Jones FAs that I've met have said that is the toughest part of the job. Also because you work alone, there is no friendly competition to gauge your performance against and motivate you. Lowest starting pay of all what I consider major brokerage firms.

Advice to Management

Better health insurance and shorten the training program for the few that has the academic prowess to pass series 7 and 66 with both eyes closed. Training program is designed to help everyone pass, including a college student, grandpa, and a soccer mom.

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  1. Very detailed and intricate position without the compensation

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

    I have been working at Edward Jones

    Approves of CEO
    Approves of CEO

    Pros

    Benefit pkg, and respected company

    Cons

    Low pay, staying compliant with NYSE, a very wide variety of investment types, IRA's, Insurance, Long Term Care, Annuities, Stocks, Bonds, Mutual Funds, Margin Loans, ETF, ACH, Transfers In and Out. Responsible for all running of office procedures except for selling.

    Advice to Management

    Need to have more than just 2 people in an office.


  2. Decent place for short-term employment.

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

    I have been working at Edward Jones

    Approves of CEO
    Approves of CEO

    Pros

    Financial advisors can control their own work schedules. This is a good place to begin career in financial services, but should only stay for a year or two.

    Cons

    General Partners in the corporate office make all the money. This system seems like a big pyramid scheme. Also, the benefits are terrible. The health care is extremely expensive and most FA's insure individualy outside the group plan.

    Advice to Management

    Senior management needs to consolidate offices instead of having 16+ offices in a small location (Naperville, IL) and remove offices from run-down strip malls.


There are newer employer reviews for Edward Jones
There are newer employer reviews for Edward Jones

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