Edward Jones - Financial Advisor (first year) | Glassdoor
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There are newer employer reviews for Edward Jones

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"Financial Advisor (first year)"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Financial Advisor in Bloomington, IL
Current Employee - Financial Advisor in Bloomington, IL
Recommends
Positive Outlook
Approves of CEO

I have been working at Edward Jones full-time (Less than a year)

Pros

A strong culture, client focused, great home office support, good compensation package.

Cons

Even with excellent training, it's a tough job with high attrition.

Advice to Management

Keep the partnership at all cost.

Other Employee Reviews for Edward Jones

  1. Helpful (1)

    "Disappointed in company policies. BOA Texas"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Can be a nice desk job if you work with a good and fair financial advisor. Great technical support from home office.

    Cons

    Can be a nightmare working with a horrible financial advisor. High FA turnover. Company will side with FA over BOA's.
    Can feel isolated at times.

    Advice to Management

    Don't be so afraid of losing income from unethical FA's at the expense of loyal BOA's.


  2. Helpful (7)

    "A cash cow for owners, probably another losing lottery ticket for new advisors"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Representative in Idaho Falls, ID
    Former Employee - Investment Representative in Idaho Falls, ID
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Excellent training, culture and opportunity.

    Cons

    They train well over 20,000 advisors per decade, yet only have a little more than 12,000 employed there, most of whom are not new. Can you say, "meat grinder" and "financial ruin?" Because that is the reality for the vast majority of people they hire as financial advisors. Other cons are that Edward Jones engages in investment banking, manufactures proprietary products, and has preferred products, meaning financial institutions share revenue with Edward Jones and their advisors in exchange for shelf space, face time with advisors (information bias) and subsidize their extravagant, semiannual diversification trips. Think about that from a consumer standpoint: do you want your advisor to only be concerned with the best option in the world, or do you want them to routinely show you solutions that academics, journalists, and history continually demonstrate to be inferior? What these conflicts of interest means is that every time you as an Edward Jones advisor say you do what is best for the client, you are either naïve or lying because doing what is best for a client means terminating these conflicts of interest regardless of the consequences and holding yourself and your firm out as a fiduciary at all times. The reality is that as an employee of Edward Jones, you are a salesman, not a professional advisor and will always be limited in your profession by this affiliation. You work for and look out for the interests of Edward Jones, and clients systematically come in second. The saddest thing: Edward Jones is the absolute best national full service brokerage hands down. It is a fantastic profession, but I would encourage job seekers in this particular industry to look for a professional career path, not a sales career path. The best opportunities are with local independent firms and RIAs, not national brokerage firms. They may not have national hiring campaigns, but that is where the real money and quality is. Doing so will provide you with far more security, income and pride.

    Advice to Management

    Stop all investment banking, revenue sharing, and close all proprietary financial products. Recognize that it is unethical to hire so many people who fail, and that the fault lies with your hiring, training, retention and compensation model. Provide more transparency to the candidates before they are hired so they are aware of the tremendous turnover and odds they are facing before they take on the speculative risk of becoming a successful advisor.

There are newer employer reviews for Edward Jones
There are newer employer reviews for Edward Jones

See Most Recent

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