Edward Jones Employee Reviews about "benefit"

Cons

You are on your own in a branch with one Financial Advisor and if you don't get along guess what that's your problem according to Associate Relations in home office who pretend to be on your side so that you open up to them and then they turn it around on you and use your words against you. I was told to change my ways so I could cater to my Financial Advisor and if I was not willing to do things the way he wanted me to I could go find another branch. I was fired on the spot even though I have had an outstanding on every review, have gotten the highest ratings and maximum bonus amounts allowed and was offered Limited Partnership. I found out that even though I thought they valued me as an employee and saw me as an asset to the branch apparently anyone is expendable and they do not have your best interest at heart. The home office is based out of St. Louis and they did all of this over the phone without room for discussion. I felt like they were reading from a script and it was easier to fire me because it was done over the phone and there was no emotion involved. I was treated like a criminal even though what I had done was in the client's best interest and under the pressure of my Financial Advisor that I should be on the quest for perfection and I had missing information. My FA that I had been with for over a year did not even begin to try to help me and that hurt a lot. I feel very betrayed.

Cons

Not a lot of growth for the BOAs. Benefits are mediocre as Vacation days start at 10 and increase to 15 after 3 years of service.

Cons

If you don't have an interest in the finical side of things there really isn't much growth.

Cons

there was mistreatment, racism, lack of support, biased parties, and much much more throughout branches they had

Cons

Unless you have an extensive personal network of wealthy individuals, you will be knocking on doors to meet people in your area to drum up business. Unless you are an unbelievably good salesperson, you will likely struggle to get by and the job becomes extremely mentally tough and stressful. Also, unless you are given a book of business soon after starting (most aren't), you will need to build a book of business completely from scratch. For this reason, the success rate here is probably 20-30%, and that includes those lucky enough to inherit assets. Furthermore, the company does not offer a 401k match to financial advisors, instead offering partnership bonuses to those who reach profitability (typically 3-6 years in). The medical benefits are also expensive and inferior to those of many other large companies.

Cons

Your opportunities and enjoyment of the position is directly tied to your FA. THe company has guidelines and expectations, but each branch, basically has two employees the BOA and the FA. If you are a gregarious person and love being around different types of people all day, this IS NOT the position for you. You will have phone work and can talk to people, but personal interaction is not the usual. Also, if you get along with your FA you are a lot better off than if you do not. It is just the two of you all day, every day. The FA is also your supervisor, they administer your wage increase, approve you vacation and are ultimately in charge of your training. They are also your means to any increases or perks within the company.

Cons

There can be a lack of structure since you decide on your own work schedule. You have to put in 2-5 years of really pushing yourself to build up a client book There’s a lot to learn and you will have to lean on home office resources to find answers for clients constantly at the start Some days are a kick in the butt - clients don’t always follow advice or may fire you for reasons out of your control There can be a disconnect between home office and the advisors “in the field” - most home office employees are nice people but it’s two different worlds at times Compliance is strict - EJ is a privately owned company and they do not want trouble with regulators Benefits are expensive

Cons

The software system has a lot of pluses but it is also rather cumbersome to use. There is too much to remember and it can be overwhelming. If you don't like sales, this will be a tough job. You have to do a lot of getting out there and asking people for business and building relationships, so make sure you want to do that. At the beginning you will be working a lot of 6 day work weeks and evenings since you have to make yourself available to prospective clients and reach them when they are home. Eventually, I hear you get more work-life balance. You probably never get true work life separation though because you are always looking for clients by interacting with other people.

Cons

Tough goals after a year or two. With economy in slump it is hard to make enough sales to meet current goals.

Cons

Benefits are not very good including health insurance and 401k match but is understandable considering you are basically self employed