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6 people found this helpful  

Great place to learn, great training, still a typical wall street wire house....in disguise. Very disappointed.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Financial Advisor  in  Los Angeles, CA
Former Employee - Financial Advisor in Los Angeles, CA

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

Pros

Great training on how to sell.

Cons

It's all about selling, and commissions/production. They want you to have 100s if not 1000s of households to serve(3 to 4 new households a month for the first 4-5 years----- the quotas don't stop there) and the main focus is sell sell sell. I feel this is not in the best interest of the clients. With a book that big many don't get the attention they deserve (which is why Edward Jones clients have become accustomed to being handed off to other newer advisors once their advisor has "too many clients"----they are then put on a newer advisor with little experience who is "starving" to have clients.

 Edward Jones commercials tout. "a Financial advisor who doesn't put their short term agenda first," HARDLY. With the high commission expectations, and low payouts, that's about all that is on the newer FAs minds! For the commissions their advisors do earn, they underpay their advisors(they keep about 2/3 of what you earn!) . They have a way of making average or only "meeting expectations" producers feel like they are never good enough. On top of that they do not fully support the FA as they promise when it comes to HR issues with obnoxious and unethical BOAs. The people who make the real decisions are in St. Louis and they do not know about local markets, and do not know you. They do not provide adequate training on management skills (how to manage your admin person). The focus is much more on sales, time management to maximize sales, how to ask questions to make sales, how to streamline your business to make sales, quotas quotas quotas.....Very hard to do what's right for your clients in an environment like this. Actually, very hard to be happy in an environment like this. Not sure how they get their fortune 500 rating claiming top place to work.....Must be surveying the home office desk people.....They are not as loyal to their FAs as their FAs are loyal to them... its a shame.

Advice to ManagementAdvice

Get to know your FAs and their concerns. Allow the Regional leaders to make hiring/firing decisions and not some St. Louis person who is totally removed. Increase payouts, eliminate national advertising, and pay more to the people doing the real commercials for the firm, face to face on the doorsteps. THEN you might have less atrition....Also, phase out single advisor offices, group a few advisors into an office to keep firm costs lower.

Doesn't Recommend
Negative Outlook
Approves of CEO

884 Other Employee Reviews for Edward Jones (View Most Recent)

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  1. 4 people found this helpful  

    Good company, though the early years are lean.

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

    I have been working at Edward Jones full-time for more than 3 years

    Pros

    Reputable firm, good people, very client-oriented, sound financial products, decent training, excellent benefits, generous paid time off policy, lay-offs are extremely rare.

    Cons

    As a branch office administrator (BOA), the base pay is quite low for the amount of responsibility involved. Some branch teams earn bonuses, and if you're hired into a top-producing branch, it may not matter about the base pay. But if you work for a lower-producer, it can be a struggle. Many BOAs that I know must work a second job to make ends meet. Other than the pay, the only negative for some people is relative isolation. Most branches are just two people: a Financial Advisor and a BOA. It suits me all right, but I'm sure it wouldn't be ideal for other personality types.

    Advice to ManagementAdvice

    You should really consider if BOA base pay is sufficient when so many of us need to work a second job.....

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  2.  

    It is an ok company to get a good foundation of work experience

    • 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 full-time for more than 8 years

    Pros

    People I work with are helpful

    Cons

    More about who you know than what you know.

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