Edward Jones Reviews

Updated 5 Jun 2020

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3.8
73%
Recommend to a Friend
90%
Approve of CEO
Edward Jones Managing Partner  Penny Pennington
Penny Pennington
242 Ratings

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  1. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (1)

    "Good job for Honest, Self-Driven professionals"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for more than 3 years

    Pros

    You choose how you want to run your practice in terms of when to place calls and hold appointments.

    Cons

    Door knocking to build your book of business, although some may get lucky and take over an existing book of business. Your starting salary is determined based on previous earnings and how much the firm is willing to pay to hire you. If you are fresh out of college or the military, you most likely only make the Minimum Guaranteed Salary your first few years. Health Insurance is Expensive.

    Edward Jones2020-05-26
  2. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (25)

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

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor in Indianapolis, IN
    Recommends
    Neutral Outlook

    I have been working at Edward Jones full-time for more than 5 years

    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.

    Continue reading
    Edward Jones2020-04-23
  3. Edward Jones - Financial Advisors | Division of Edward Jones

    "Great place to work"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor 
    Recommends
    Positive Outlook

    I have been working at Edward Jones full-time

    Pros

    Fantastic work environment and caring co workers

    Cons

    Must build client base by knocking on doors

    Edward Jones2020-05-20
  4. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (1)

    "Great culture, demanding work, must be comfortable with sales"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for more than 5 years

    Pros

    Edward Jones really cares about its employees and has a great family oriented culture. They provide excellent training and resources. They care about the client and have a business model that has stood the test of time, with almost 100 years in business. They have been in the Forbes top 100 places to work for 20 years straight, usually in the top 10. Their partnership structure allows employees to become owners and means there are no external shareholders to please. You get the benefits of being an entrepreneur and an employee at the same time.

    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.

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    Edward Jones2020-05-18
  5. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (2)

    "Great training, support and a culture of service but inequitable opportunities"

    4.0
    Current Employee - Financial Advisor in Bellingham, WA
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for more than 3 years

    Pros

    Collaboration, support, culture of mentorship and paying it forward

    Cons

    Outdated prospecting methods, inequitable asset sharing opportunities

    Continue reading
    Edward Jones2020-05-14
  6. Edward Jones - Financial Advisors | Division of Edward Jones

    "A+ culture for big company"

    5.0
    Former Employee - Financial Advisor 

    I worked at Edward Jones full-time

    Pros

    I can’t speak highly enough of the culture at Edward Jones. It was supportive, encouraging, and competitive in a healthy sense. Our particular region was wonderful, but I felt the Home Office did a really impressive job of maintaining a strong, positive, collaborative and conservative approach as well.

    Cons

    Regulatory changes are always a challenge in the financial services industry. While I appreciated the conservative approach on risk, there was opportunity to be more innovative and offer more to advisors and clients from a technology perspective.

    Edward Jones2020-05-19
  7. Edward Jones - Home Office | Division of Edward Jones

    "Great stuff"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Rotational Development Associate in Saint Louis, MO
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Edward Jones full-time for less than a year

    Pros

    Great environment and great people

    Cons

    Hard to move up corporate ladder

    Edward Jones2020-05-17
  8. Edward Jones - Financial Advisors | Division of Edward Jones

    "Great Company who cares"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor Trainee in Tempe, AZ
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for less than a year

    Pros

    Cares alot about their advisers, so many great opportunities in the firm. Great firm culture

    Cons

    Very difficult to start your business. They give alot of training, but it is still very difficult

    Edward Jones2020-05-14
  9. Edward Jones - Branch Office Administrators | Division of Edward Jones

    "Great work place"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - BOA Branch Office Administrator in Indianapolis, IN
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for more than a year

    Pros

    Edward Kones is a great place to work

    Cons

    The workload is sometimes slow.

    Edward Jones2020-05-14
  10. Edward Jones - Branch Office Administrators | Division of Edward Jones

    "Beware"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Branch Office Administrator in Kansas City, KS
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at Edward Jones full-time for more than 10 years

    Pros

    Hours, retirement, some benefits, family oriented

    Cons

    Don’t treat the help the best

    Continue reading
    Edward Jones2020-05-27
Found 2647 reviews