Pros: regional support
Cons: door to door prospecting
Our goal was to make 25 contacts per day with potential prospects by going door to door within an assigned territory. We would follow up with these prospects in the near future with focused call sessions to better identify their financial needs and to offer tailored solutions.
The training program is primarily focused on how to prospect and very little is concentrated on the product knowledge that we as advisors need to make the recommendations that are in the best interest of our clients.
One benefit of working for Edward Jones is that there is no micromanagement. Each advisor has the resources of the home office and the freedom to build their practice however they see fit.
In addition, the majority of the senior advisors within my region were happy to meet with new advisors and offer their expertise and business building techniques.
The most difficult part of the job was going door to door. In this day and age, people are very reluctant to provide sensitive information, such as their finances, to a stranger walking through their neighborhood.
Beacuse the door to door activity was so time consuming, it was difficult to prospect through other avenues, for example, civic organizations, personal networking, seminars, etc.
Although going door to door proved an inefficient method for prospecting, I believe the activity helped facilitate the understanding of how difficult it can be to build a business in the Financial Services industry. Advisors utilizing the door to door technique inevitably develop a thicker skin and are more adept to overcoming objections. Because of this, I believe Edward Jones is a great place for someone starting out in the industry.