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Edward Jones

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Edward Jones

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Edward Jones Employee Reviews about "home office"

Updated Jan 19, 2021

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Found 252 of over 3K reviews

3.9
73%
Recommend to a Friend
91%
Approve of CEO
Edward Jones Managing Partner  Penny Pennington
Penny Pennington
535 Ratings
Pros
  • "Has sufficient support from the home office(in 176 reviews)

  • "Great Training for a new advisor(in 168 reviews)

  • Cons
  • "Old school mentality to prospecting (door knocking strongly encouraged)(in 221 reviews)

  • "The emphasis they place on door to door prospecting(in 170 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Demographics

    This rating reflects the overall rating of Edward Jones and is not affected by filters.

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    Reviews about "home office"

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    1. 5.0
      Current Employee, less than 1 year

      Great Company

      Nov 30, 2020 - BOA Branch Office Administrator in Columbia, SC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good benefits Helpful home office Friendly co-workers Good hours

      Cons

      Some of their computer programs are very outdated, which can be frustrating. Some days there is a lot of down time. Usually alone in the office

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    2. 4.0
      Former Employee, more than 5 years

      Great Opportunity with Room for Improvement

      Dec 17, 2020 - Financial Advisor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      -Autonomy to run your own business (mostly) -Excellent earnings potential (mostly) -Access to excellent home office support

      Cons

      -The autonomy to run your business your way is there, but can be limited by the strict performance standards. especially in your first 5 years. The firm sets the performance standards, and they are subject to change. For me, they changed 4 times in the 7 years I was with the firm. Each time, that meant I needed to rework my business plan in order to make sure my goals were in line with the new firm expectations. Sometimes it was no big deal, other times it was a major problem. It led to me feeling like I still had a boss and was not truly autonomous. (There are firms out there that allow you more freedom with fewer arbitrary performance standards.) -Though there is fantastic earnings opportunity, other firms pay you in more ways. I left a lot of money on the table and probably would have earned more doing the same job somewhere else. Pay close attention to the ways you are paid and make sure you're choosing the option that is most in-line with your goals. -The firm is conservative and slow to change. -Client-facing tech and capabilities have a long way to go in order to deliver clients the experience they are looking for.

      3 people found this review helpful
    3. 2.0
      Current Employee, more than 10 years

      They say they care, but they don't

      Mar 27, 2020 - Senior Branch Office Administrator 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Some branch offices offer a lot of flexibility, but the job really depends on who you work with. You are working with one person and only one person 40 hours a week. If you get along and have a great relationship, it can be a great job. If you don't... If you can stick around, you can be a limited partner. At least 5 years employed. There can be some good income from that. otherwise, your salary will be low and compared to low banking type jobs.

      Cons

      There is no advancement for Branch office administrators. You can be a "senior" Branch office administrator after 3-5 years, but that's only a raise. You will be doing the same job from the day you start to the day you quit. There is no love or respect for BOA's from the home office or the financial advisors. Many FA's treat you like their personal secretary, no one is really sure what the BOA's role is. Make sure you really like the person you interview with before you accept the role. Changing locations is not easy, and there is a stigma that follows you even if it is the FA who is an unreasonable jerk. Recruiting - They want everyone to recruit new FA's. This will be a fire hose type situation and they expect you to be recruiting 24/7 even though you are paid hourly and BOA's do not receive any type of bonus for referring candidates.

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      10 people found this review helpful
    4. 4.0
      Current Employee, more than 1 year

      Ask questions

      Jan 19, 2021 - Financial Advisor in Medford, OR
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Has sufficient support from the home office.

      Cons

      Not much mentoring for new FAs compared to other team oriented offices.

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    5. 5.0
      Current Employee, more than 3 years

      Best place to work!

      Jul 19, 2020 - Financial Advisor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - The training and time they put into helping new advisors succeed is second to none. - The help from veteran advisors and willingness from others in the region is incredibly helpful. - The pay is competitive. - Field Supervision and Home Office help more than you can describe here. - Private company versus public has huge benefits for the employees.

      Cons

      - The emphasis they place on door to door prospecting. - The amount of changes that occur and as often as they occur is hard to keep up with as a branch team which can affect the Advisor’s pay in certain situations.

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      3 people found this review helpful
    6. 3.0
      Current Employee, more than 3 years

      Good Company

      Oct 28, 2020 - Branch Office Administrator in Saint Louis, MO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      We have a good flexible work environment here in the branch. We get great support from home office when we need help. I love working with my clients and with my financial advisor.

      Cons

      The health benefits. The only medical plan offered here is a consumer driven plan this is the type of plan with a high deductible that doesn’t pay anything until the deductible is met. This plan gives us low premiums but also low benefits until a high deductible has been met. This type of insurance does not work well for people with chronic conditions.

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      4 people found this review helpful
    7. 5.0
      Current Employee

      Good experience overall

      Nov 11, 2020 - Financial Advisor in Belton, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good pay, good benefits, get to help people

      Cons

      Home office has no experience outside the EJ bubble so they don't understand how some of the updates with systems etc are absolutely not necessary. Very much live in a bubble.

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    8. 1.0
      Former Employee, more than 5 years

      Don’t be tricked by Edward Jones recruiters

      Jan 6, 2021 - Financial Advisor in Irvine, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      If you outperform your peers, EJ will pay the rent of your office but the maximum payout rate is 40%

      Cons

      Horrible home office support. EJ home office will blame everting on the advisor if anything goes wrong in your branch. They will also try to keep your clients and out defamatory language on your U5 if you decide to switch firms.

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    9. 3.0
      Current Employee, more than 5 years

      Fantastic pedigree and business opportunity; nepotism at the regional level ruins it.

      Apr 23, 2020 - Financial Advisor in Indianapolis, IN
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Unlimited compensation potential.For most people starting new (Level-New), the onboarding and training process is head and shoulders above what you'll see at other large firms. During the hiring process, you'll do a business plan; a 'virtual day in the life' assessment, and at least three phone/in-person interviews. Edward Jones will then extend an offer. Day one, while studying to take the Series 7 and 66 exams, you'll be paid an hourly wage. 40 hours is recommended for study time, but you can do extra hours and get paid time and one half for additional work you put in (wink-wink). Once you pass the exams, you'll go to either St Louis, MO or Tempe, AZ for your "Know your Customer" training. Following this training, you'll be expected to hit the streets, making 25 contacts per day. At this point, you'll be on salary, but ineligible to earn commissions until you complete a requisite number of contacts over a 5-6 week period. You'll be told that you can make these contacts any way you deem necessary, but the only true way you'll get 25 quality contacts per day is by going door-to-door. In order for a contact to be considered "quality", you must have a name, a phone number, and permission to contact them. This last part is very important because these are the people you'll be calling on when you go back for "Launch your Practice" which is essentially a glorified graduation where you can officially call yourself a Financial Advisor. After evaluation-graduation. you still won't know a whole lot about being a financial advisor, though you will have mastered making contacts, handling objections, and setting appointments. Then, over the next 17 weeks, you'll work under the mentorship of an experienced Financial Advisor. You'll have a home-office coach, a field trainer, a level-leader, and anyone else you decide to take advice from. This firm is really well known for its helping culture. Just about any other FA will help you...but you have to ask.

      Cons

      Lead generation is cold-calling; primarily door-to-door. The decision on how you will start will be delegated to the leadership in the region you join. Here are a few examples: A. You start new. Nobody shares anything. You create your book of business. You keep what you kill and watch others joining the firm after you pass you in earnings. This is what we call New-New and it is very difficult to start this way, though the home office swears that many successful advisors build their business this way. B. Somebody quits because they've started as type "A", and you take over that book. You'll spend a great deal of time convincing clients that you aren't a quitter, but you'll be held to a higher production standard since you received these assets. Might as well be A. C. If you are lucky, perhaps you've demonstrated your determination during the 17 weeks and another FA (or several FAs) pool some assets and clients to get you started. By the way, these won't be people they enjoy working with; however, you may have better chemistry with the clients. That doesn't mean you've made it though. You'll need to continue door-knocking and asking for referrals until your business is profitable and sustainable for you. Keep in mind that your salary will drop off at year 5 and your highest ever commission will be 40% of revenue. There is a suggestion that you should have gathered $26 Million in assets by year 5 to be successful. Here's some math on that: 1. $26 Million (assume that half is in Guided Solutions) 2. $13 Million X 1.35% = $175,500 x 40% = $70,200 to you 3. There may also be residuals from the other half of your book, but keep in mind that stocks, bonds, CDs, and other investments only pay once. So, once you sell a $1M in 30-year municipal bonds, you're never getting paid on that asset again. D. You are the chosen one. EDJ recruited you from another firm where you might be able to bring assets over. (By the way, Edward Jones will sue you if you leave and try to take clients, but they'll darn sure poach from other firms.) You'll never knock on a single door. FAs in category C will resent you a bit, but those in A or B will hate your guts. E. You are the family member of a retiring FA, or you come from a line of Edward Jones royalty. Don't worry, you'll never knock on a door, you'll advance profitability levels very quickly as you are handed tens of millions of $ in assets to work with. You'll quickly surpass people in categories A, B, and C, even though you joined the firm three years after they did. You'll be lauded for the business you've built and encouraged to mentor those beneath your level of production. You'll make over $200K per year to start and those poor schleps who were 'successful' at building a business will be happy with their $70K at year 5.

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      43 people found this review helpful
    10. 2.0
      Former Employee

      Meh

      Jan 8, 2021 - Financial Advisor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good starting salary, helpful people at the home office

      Cons

      It was still door knocking pre Covid. Pretty much everything else

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