Edward Jones Reviews in Des Moines, IA | Glassdoor

Edward Jones Des Moines Reviews

Updated February 24, 2017
5 reviews

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Des Moines, IA

4.0
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Edward Jones Managing Partner Jim Weddle
Jim Weddle
4 Ratings

5 Employee Reviews

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Pros
Cons
  • Door-to-door residential prospecting is a core sourcing strategy (in 120 reviews)

  • Door knocking sucks most of the time (in 124 reviews)

More Pros and Cons

  1. "Finacial Advisory"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Des Moines, IA
    Former Employee - Financial Advisor in Des Moines, IA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Edward Jones (More than a year)

    Pros

    Great support staff and love the BOA

    Cons

    Long training periods and have to relocate to Arizona or St. Louis for advisors that are new to the industry.


  2. Helpful (1)

    "Simple yet Solid"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Des Moines, IA
    Current Employee - Anonymous Employee in Des Moines, IA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Edward Jones full-time (More than 10 years)

    Pros

    Good people doing their best to help others and make a good living. I found humble people making twice what the arrogant made at Ameriprise.

    Cons

    Building the business is very difficult. Benefits are costly and out of pocket expebnes are high. Sophisticated and experienced advisors are often treated too similarly to newer, inexperienced advisors, unless you are a top producer. Only plain vanilla ideas are allowed.

    Advice to Management

    Allow more sophisticated strategies for those advisors demonstrating expertise. Including an advisor led discretionary wrap account for better customer service.

  3. Helpful (13)

    "Horrible, Untrustworthy Company to Work For"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Des Moines, IA
    Former Employee - Financial Advisor in Des Moines, IA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Edward Jones full-time (More than 8 years)

    Pros

    None. Any pros are by far outweighed by the cons. There is some freedom to the work, which is not really freedom at all as you will feel constantly under the gun to produce more revenue and clients.

    Cons

    To achieve success, you have to be willing to be unscrupulous and somewhat dishonest to clients. You have to sell expensive and under-performing mutual funds. We all know (or should) that index funds are the best solution for the vast majority of clients, but this company will delude you into thinking you are doing right by someone by steering them into something else. Have some respect for yourself and DON'T. Just don't work here, you will end up hating yourself and what you've done to clients.

    Advice to Management

    Move entirely away from a commission based structure and into a fee based model. Lower your overhead costs, especially in St. Louis. Do something to help reduce the massive turnover in employees every year. In fact, just sell the company and move into another line of work. This one doesn't suit you.


  4. Helpful (3)

    "Hardest work I've ever done"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Des Moines, IA
    Current Employee - Financial Advisor in Des Moines, IA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Edward Jones full-time (More than 5 years)

    Pros

    You'll ultimately be given your own office to run with significant autonomy. A chance to build and run your own business with minimum interference. Technical support when called upon is generally positive, prompt, and quite helpful.

    Cons

    Compensation is not as glowing as advertised. Significant dropout rate of new advisors in first 3 years. Lots of pressure for you to help recruit new advisors. Training geared towards selling rather than building strong portfolios for clients

    Advice to Management

    Tendency to describe those who leave as slackers who just didn't work hard enough...as in, yes their is turnover but we're losing those who really weren't willing to do the work. Don't significantly raise goals in the midst of a significant economic downturn.


  5. Helpful (1)

    "Thick Skin is Required"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Des Moines, IA
    Former Employee - Financial Advisor in Des Moines, IA
    Recommends
    Approves of CEO

    Pros

    Their is potential for a lot of upside in your compensation.
    Can be very fulfilling experience.

    Cons

    The first few years will be the most difficult possible and you will feel like quiting 5/7 days a week.
    This job require at least 80 hours of work a week; if you have a lot of family commitments this job may not be for you.

    Advice to Management

    Don't Go Public and Don't Sell Out!


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