Edward Jones

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4 people found this helpful  

Great company, but business model not a good fit for me

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

Pros

Independence, great training, regional leadership in my area was and is fantastic, as are all the people I met while working for the company. If you can "drink the green kool aid", you will love it. The people that succeed are incredibly passionate about what they do and the company, and it's inspiring. Got to meet several former managing partners while working for the company. If you like being on your own without a boss, you will like it. You have support, but you have to seek it out and pick up a phone in order to get it. You really do get to build your business as you want to, as long as you are profitable and ethical, which is really empowering.

Cons

The business model just wasn't a great fit for me- you are very isolated, working from home for a good portion of your training. You have trainers and mentors but, as they are also FAs, their priority is building their own business and you sometimes feel like you are imposing. I am more team-oriented and did not like the idea of sharing my office with just a BOA, which I might not have had any input on hiring. As with most financial firms, getting as many contacts as possible is the priority, and left very little time for any sort of life outside of work (I wanted to go back to school for my MBA, and was told there simply wouldn't be time). If you are a woman, be prepared to be severely outnumbered- my region had the best m-f ratio in the country, but I heard from other women that it was a boys' club and that there was some perceived biases that you couldn't do the job and be a good mother and wife (I heard that from a woman in the South). Even though you go door-knocking during the interview process, I was shocked at how difficult it was day in and day out. Pay for FA trainees is on par with industry, but a lot less than I made at my previous job as a retail manager for a large cell phone company. Be prepared for 60-70 hour work weeks and sleepless nights stressing over numbers. From what I was told, it doesn't get better until year 4. It's helpful to have a spouse that doesn't work, but my husband has his own career and it was too much for us at this time.

Advice to ManagementAdvice

Honestly, it was a great experience and I am really grateful for the opportunity; it just wasn't a good fit for me and my family at this point in our lives. Having great regional leadership makes a huge difference, and I have nothing but respect for those that can stick it out.

Recommends
Positive Outlook
No opinion of CEO

Other reviews for Edward Jones

  1. 1 person found this helpful  

    The best training in the industry from a company that cares about your career.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor  in  Little Rock, AR
    Former Employee - Financial Advisor in Little Rock, AR

    Pros

    Great training. High pass rate for Series 7 and 66 exams. You will always know what is expected of you and what you need to do to accomplish your goals as well as theirs. The job is tough, but Edward Jones will make sure you aren't alone.

    Cons

    The Edward Jones culture can be overwhelming at times. Also, you will be limited as to what you can provide for your clients, but most of what they truly need - you can provide.

    Advice to ManagementAdvice

    So much consideration is given in the beginning of a career at Edward Jones, but once you are successful, the company will leave you alone. Sometimes this harsh transition can be difficult.

    Recommends
    Positive Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    My experience as a Financial Advisor Intern

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

    Pros

    -Make your own hours
    -Get to leave your office to meet with clients
    -Personable business
    -No limit to your income
    -Never get bored because you are always trying to grow your business, and there are always ways to get involved more in the company.
    -Great business to have in the long run because all you work you have put in is paying off. You are able to work a 20 hour week if you desire.
    -The ability to make partner.

    Cons

    As an intern it was confusing to me in the aspect that I didn't know if I worked under the BOA. She has more experience and knowledge than me, and I can learn from her but at the same time I'm a Financial Advisor Intern and I get paid more than the BOA. (Which the BOA was aware of and not happy about)
    This also caused an awkard situation because she would see that I get taken out to lunch with the other FA's and have more privledges and it did not sit well with her because I was just an intern coming straight from college and only working here 2 months.

    Advice to ManagementAdvice

    I am truely grateful for this amazing experience. It is one of the best out there. From the compensation to the personal growth, it is an all around great program. The request I would make is that the BOA's not be aware of the compensation that FA Interns receive. In my situation I get paid more than my BOA. So you can imagine this created a bit of an awkward situation. I believe the compensation is well justified because I am living away from home and paying high month-to-month rent to live 2 months in my apartment.
    I also wish I could have recieved some type of reimbursement for the tolls I paid to visit other financial advisors. Other than that I believe EJ is a great company, and I would be honored to work here.

    Recommends
    Neutral Outlook
    Approves of CEO
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