Edward Jones Reviews | Glassdoor

Edward Jones Reviews

Updated May 2, 2017
224 reviews

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Edward Jones Managing Partner Jim Weddle
Jim Weddle
112 Ratings

224 Employee Reviews

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Pros
Cons
  • Door-to-door residential prospecting is a core sourcing strategy (in 118 reviews)

  • Door knocking sucks most of the time (in 119 reviews)

More Pros and Cons

  1. Helpful (3)

    "It was ok"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - BOA Branch Office Administrator in Houston, TX
    Former Employee - BOA Branch Office Administrator in Houston, TX
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Edward Jones full-time (More than 3 years)

    Pros

    There is a very good home and work balance. (I do not have 20 words that are pros for Edjones)

    Cons

    You have to rely on the financial advisor to ever receive a raise or bonus. It's typically just you and the FA; often times just you for long stretches of time (weeks)

    Advice to Management

    Pay your assistance more! Praise is no where NEAR enough


  2. Helpful (8)

    "Have money saved up"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Atlanta, GA
    Former Employee - Financial Advisor in Atlanta, GA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Edward Jones full-time (More than a year)

    Pros

    - Autonomy
    - Heavily involved in the community
    - Your own office and Branch Office Administrator
    - Conducting educational workshops to build your practice
    - Ability to eventually make a lot of money
    - Training is thorough and top notch
    - Excellent place to start your career in the industry

    Cons

    There is a gross lack of transparency when it comes to pay. It took receiving one (of four) $0.00 paycheck and several calls to home office until someone was able to fully explain the compensation structure. Your commissions are essentially held until year 4 when your branch becomes profitable.

    It's indoctrinated in you that you're "building your business" but you're not. You're more accurately building your practice. Speaking with independent advisors whose commission pay out is 80-90% while the Edward Jones commission payout is maybe 20%, there is an obvious disparity in compensation when you're truly building your own business.

    I spoke with numerous advisors at Edward Jones who have made it and all of them explained that the only way they were able to financially make it in the beginning is because of external help. This was NOT explained in the recruitment process. I was told that without 3 years savings, taking equity out of your home, living in a two income house, utilizing government help, borrowing from family members or taking a loan from Edward Jones, that an FA will probably not make it.

    Unfortunately Edward Jones is truly archaic when it comes to compensation for new FAs compared to their competition. Having autonomy and an office assistant doesn't matter if you aren't making any real money.

    Advice to Management

    Please pay your new FAs better and be TRANSPARENT about the convoluted equation that determines the amount of each paycheck. And explore other ways of prospecting aside from door knocking.


  3. Helpful (9)

    "Get promises in writing, Beware $75,000 training chargeback"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Chicago, IL
    Former Employee - Financial Advisor in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Edward Jones full-time (More than a year)

    Pros

    Company is very strong investing in the training of new advisors. Fund companies, life companies, and annuity vendors service you quite well. Trying very hard to build up women advisors. Health benefits fair. Working at Home office is very positive.

    Cons

    Start out for months going door to door! Leadership determines who will succeed and fail. Large assets are given discriminately. Promises are not kept. 20% commission first couple of years 30% commission your 3rd year. So if you are not the chosen one to receive a large asset base you are in trouble. I was exceeding expectations throughout only to see $20,000,000 handed to new college graduates barely meeting expectations.


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  5. Helpful (2)

    "High Pressure"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Office Administrator in Nampa, ID
    Former Employee - Branch Office Administrator in Nampa, ID
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Edward Jones full-time (Less than a year)

    Pros

    They have good resources for continued learning.

    Cons

    You only work with one financial adviser in a small office. High pressure from overhead managers on the financial adviser. Adviser education is lacking real life experience. The pressure on the adviser to produce comes down onto the BOA.

    Advice to Management

    Better training and support for advisers and how to apply what they learned to help people not sell people.


  6. Helpful (2)

    "BOA"

    Star Star Star Star Star
    Former Employee - Branch Office Administrator in Hampton, VA
    Former Employee - Branch Office Administrator in Hampton, VA

    I worked at Edward Jones full-time (More than 5 years)

    Pros

    Great benefits and training program

    Cons

    BOA 's feel like a second class citizen. FAs are the money makers and HO will let them do as they please


  7. Helpful (7)

    "Great co-workers"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Saint Louis, MO
    Former Employee - Anonymous Employee in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Edward Jones full-time

    Pros

    I loved the people I worked with. I had the ability to make my own schedule. I loved helping others figure out their financial goals.

    Cons

    Benefits are pretty non-existent. High deductible healthcare is outrageous. no 401k match for advisors. After the initial training they throw you to the wolves and give you 4 months to make it or they fire you. yup after all the training and money spent they only give you 4 months then say goodbye if you dont big in enough money...$500,000 to be exact. might not be bad for someone that has been in the industry for awhile that can bring clients with them but a newbie is screwed unless they have mom or dad help out if they have money. They tell you that your doing all the right things just stick to it and you will do fine. As the 4 month window comes to a close they tell you don't worry they wont fire you.....WRONG they will. I had a $200,000 rollover getting ready to hit and they told me sorry too little too late. Guess they didn't want to give me the bonus or commission on that one. They fired me then gave me my final check....$1.50 .... WOW talk about screwing you over. Think twice before taking this job. They will wine you and dine you and everything will sound really great when in reality it takes months to build trust in someone that you met at their door. So you will have to beg, borrow and steal from all your friends and family to try to keep your job.

    Advice to Management

    Try to work with your new advisors to increase your retention rate. Whoever started this 4 month thing is an idiot! Wasteful to just throw someone away because they didn't hit a sales goal in their 1st trimester. These people that are thrown to the curb will most likely be successful but not with your firm! Thanks for the training and my Series 7, 66, Life & Health licenses. You people are ridiculous!!!


  8. Helpful (7)

    "Financial Advisor"

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

    I have been working at Edward Jones full-time (More than 3 years)

    Pros

    Many good people, excellent training, much improved IT and home office support, no one telling you what to sell, no pressure to screw clients.

    Cons

    This is an absolutely brutal job with a very high attrition and burnout rate. The door to door prospecting is miserable and humiliating, the company does not feed you any warm leads, it's all you. I would quit before having to repeat my first couple of years. I don't know that Jones has a future so I am looking elsewhere as are many other Advisors.

    Advice to Management

    No idea


  9. Helpful (14)

    "It is all about the Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - BOA in Chicago, IL
    Current Employee - BOA in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    Benefits are about average. Home office back-up and assistance is great. Except for the Financial Advisor, the position is unsupervised.

    Cons

    The position has evolved from a clerk and data entry position to one in which the BOA is now responsible for ensuring regulatory compliance in many areas. The salary is not consistent with the responsibilities. BOAs are treated as the lowest rung on the ladder and paid accordingly. The financial advisors are financially trained sales people. They have no managerial skills and do not know how to work with BOAs. Stop wasting time with personality tests. The problem is not what personality types work well together, the problem is that FAs harass, demean and insult BOAs to the point of illegal verbal harassment.

    Advice to Management

    Train your Financial Advisors that they are in positions of power and are susceptible to legal complaints.


  10. Helpful (3)

    "Make sure you have a cash reserve before starting"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Durham, NC
    Current Employee - Financial Advisor in Durham, NC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Great culture. Other EJ FA's do offer assistance to the newer guys. Once you build your book you're work gets easier. Love helping clients and meeting new people.

    Cons

    The job is not easy and the salary decreases quickly so be sure you build your book fast or you may not make it. Hard to build a new business and feed your family on what they pay for the first 3 years. Very frustrating when you are meeting expectations and still not making enough to survive.

    Advice to Management

    Try paying your newer existing FA's a little more in the beginning to help them stay. Many of us are working hard for the firm and not sure if we can afford to stay.


  11. Helpful (3)

    "Good for Sales Only"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Los Angeles, CA
    Former Employee - Financial Advisor in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Edward Jones full-time (Less than a year)

    Pros

    If you are a natural salesperson and want to get into the financial industry, this is probably a good fit for you. You can make a decent amount of money if you move in the right circles and can manipulate people into buying what you are selling. For the majority of people you encounter, doing something is better than nothing so you would be helping.

    Cons

    Don't expect to learn a whole lot about investment strategy and portfolio management. If someone has a complex situation or a fair amount of money, you will have to fake it as you won't actually know enough to properly help them. It is all about sales and not about investment advice. Lots of knocking at doors with very little response... might work if you had a time machine or if you already had a huge network of people who needed someone to invest with.

    Advice to Management

    Start aiding new advisors in getting leads. If you expect them to just knock on doors and hope to find the right people it doesn't seem that you really care about their success.


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