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Is Edward Jones a good company to work for?

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Investment Representative  in  Saint Louis, MO
Former Employee - Investment Representative in Saint Louis, MO

I worked at Edward Jones

Pros

The company had a great training program for its Investment Reps.

Cons

The health insurance program for Investment Reps could have been better, if the company would pay a portion of the premium.

Advice to ManagementAdvice

Continue the good work.

Recommends
Approves of CEO

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

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  1. 1 person found this helpful  

    First few years are hard, but there is full disclosure in the hiring process

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

    I have been working at Edward Jones

    Pros

    Independence, unlimited earning potential, running your own office, Incentive trips A+.
    All the CONS are explained to you before you start, nobody goes into this blind. It shocks me to see people complaining about things that they signed on for to begin with.
    Ideal candidate will be A type with 10 + years in business, preferably financial services, and someone with lots of connections and organizational involvement. Usually this candidate will have a parachute or buyout from previous employer and most don't realize they can ask their current employer to voluntarily cut the position and pay severance (after they accept the EJ job). This income difference will provide the differential in income to survive financially the first year.
    You must be a good manager and able to manage the unique type of management relationship created with one employee in an isolated office. Previous management experience goes a long way. Hire the BOA wisely - ideal candidate would be a lifetime local with secretarial experience and many local connections. The office administrator will make your career if treated right and sink you if you abuse or misuse them. They are not your personal assistants but rather partners in administrative duties and client support. Manage correctly, find the right mix between friendship and subtle but firm guidance, mentor-ship and clear direction. Don't forget to compliment their work.

    Cons

    Knocking on doors, IN WINTER!!!! working 70 hour weeks the first year, isolation, fear of not making it, potential for bad local support and not making it, lower than low first year income.

    Advice - Your success is in your hands, make sure you get what you need from your local support team and if you are not getting the local training you are responsible for fixing the situation, don't sit back. Force yourself to knock on one more door, and keep going. The success is in the numbers, keep your eye on the future. It's only a few years of hard work but if you do it you will ultimately be in a place where you can earn 100k plus and not have to door knock any more. You will ultimately make money just by waking up in the morning, but you have to put in the work, do what is right for the clients and they will refer business to you and you will not need to seek it any more.

    Advice to ManagementAdvice

    Often there is drastic difference in first year training between the field and the home office training leaders. Local support teams must be held accountable for a consistent training program. Also, it would be helpful to mandate some referred client business from existing advisors to new FA's to get them going - make it part of the 'volunteerism' requirement for existing FA's. It will help new FA's build confidence and be more successful which will ultimately benefit us all.

    Keep doing what you are doing in the home office support functions and training. Thank you to everyone in the home office that works hard to help the FA's! We couldn't do it without you!

    No opinion of CEO
  2.  

    Experience/Connections/Hardwork mandatory

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Indianapolis, IN
    Current Employee - Anonymous Employee in Indianapolis, IN

    I have been working at Edward Jones

    Pros

    Good pay with time
    The best training for Series 7
    Only sells quality products
    Good culture

    Cons

    Good advice gets in the way and confuses people. Must sell what they want until you are established.
    Areas with lots of EDJ advisors can be tough to navigate. Expect lots of calls about "why are you knocking near my office?" or "Why did you talk to my client?"
    Almost zero product knowledge training. Have to teach yourself.
    Many people come in with clients lined up from either working at a bank or family connections. Expect to compete head to head with these people.
    Extremely low odds of surviving past a few years

    Advice to ManagementAdvice

    Management needs to be more selective in the hiring process. If they feel they have someone that will be a good advisor put the resources behind them to be successful. From my experience those that get the resources are much more successful than those that don't.

    Doesn't Recommend
    Approves of CEO
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