How to get a job at Edward Jones.

Hopeful in London, I thought I would reply via the forum in case anyone else finds the info helpful.
This is week 4 of the study program for me. Everything is done in the computer. You can't print chapters and there is no book.
You read a chapter, take a quiz, and then an exam. Some chapters have videos to watch, worksheets to complete, etc. The series 7 exam is taken on the 7th week; series 66 on week 9. Week 10 is in EDJ offices - St Louis in my case.
It is more material than I had expected. Humbly, I admit that I thought it would be easier to manage.. heck, I finished my master's in management while working full time and w/ a 6-month old daughter ;-) humble pie!! it's been harder than I thought, but enjoyable. I'm studying over 50 hrs/week.
It took me almost the first week to get organized/figure out what system worked best for me (read from laptop, type notes on desktop as I'm reading). It may help if you think ahead of time of where you are going to be doing studying and prepare a 'zone' in advance if not already done.
The material is interesting and I've been getting lots of support from the study person in main office, as well as from a ton of FAs in my region. It's nice to get phone calls from FAs checking on me! I can't wait to take (PASS!) the exams.
Hope this helps!
:-)

I didn't give a good presentation speech of myself. I'm attending law school for taxes, for a master of taxation, and will be asserting myself for speaking in front of an audience. I'll have the ability to talk with a good argumentive skill that most people don't have without attending law school. I haven't found that toastmaster club out here in Denver. If you know of any public speaking clubs in Denver please tell me about it.

Thanks

ChuckJ ChuckJ in Savannah, Georgia said: I actually studied ahead and took my Series 7 a week early. Made a 86..not so shabby. I have some killer Series 7 and Series 66 notes that y'all can have if you'll post your emails. They are like Crib notes for all the Chapters. Great stuff..
Chuck

Hi, Chuck!

I have been following this site as began learning about Edward Jones. I have applied and I am now working my way through the process. Thank-you for your postings here - all your input has been incredibly helpful. This entire site is a blessing! I would love to have your notes on the Series 7 and 66, too! My email is skyofblue4u@yahoo.com. Thank-you for the notes, and thanks again for all your helpful information!! :)

JParks in St. Augustine, Florida said: How'd your interview go this morning? Can you share some of the questions you were asked?

Thanks!

I thought it went well. It was more of a conversation, very basic. He started with a warm up, casual conversation. He then asked me mainly questions about my application to make sure it was correct. He asked me why I wanted to be a financial advisor. I am currently enrolled in college part time working on a finance degree, he asked if I had a problem taking a break from school to be a part of edwrad jones as learning the job would be intensive. I am currently a Licensed mortage broker and he asked if I would have a problem putting my license on inactive while working for edward jones, you can't work part time. I scheduled a office visit prior to this interview. He stated he wanted to schedule another office visit with a different advisor that I could spend more time with to learn about the job. He asked if I had any questions and that was pretty much it. My phone call lasted about 30 min as opposed to the 60. Please let me know if I could help you with any more questions.

Judy (and anyone wanting the notes I've mentioned)...I'll be happy to send the notes to anyone who wants them. However, I just don't have the time to check the forums, cut and paste emails, and send notes every day. So..anyone wanting the notes can email me at chuckchuckj@gmail.com and I will reply back with the notes as an attachment. I'll be happy to answer questions as well..just be advised that my busy schedule may make the replies a little late. Thanks, Chuck PS..Weather in Florida is wonderful. Great for door knocking.

ChuckJ ChuckJ in Savannah, Georgia said: Judy (and anyone wanting the notes I've mentioned)...I'll be happy to send the notes to anyone who wants them. However, I just don't have the time to check the forums, cut and paste emails, and send notes every day. So..anyone wanting the notes can email me at chuckchuckj@gmail.com and I will reply back with the notes as an attachment. I'll be happy to answer questions as well..just be advised that my busy schedule may make the replies a little late. Thanks, Chuck PS..Weather in Florida is wonderful. Great for door knocking.

Thank-you Chuck! I wish you the best of luck with your door knocking!!

Does anyone know the details on the Tuition Reimbursement at Edward Jones? I read on their website that Tuition Reimbursement is one of the benefits for Financial Advisors. Is this just for classes to get designations, or would it be for an MBA, or would it even cover a second undergrad degree?

Thanks!

Tuition reimbursement kicks in after a year or so I think. It covers most anything. To be honest, it's not something I've ever heard of a FA doing for the simple reason that if you're doing the job well enough to keep the job, then you're putting in 60+ hours a week. Doesn't leave much time for going to classes.

START DATE OF 03/03/2008

SOOO ive been gone from here for a while who in here is in my class?? im Ernest from Las Vegas and im not good with the whole wires and chat things on the EJ so maybe one of you can teach me ive been consumed with studying and havent had the time to play around with that stuff too much..let me know thanks:)

Ernest

Also how many of you in here are in your early 20's?? im 23..22 when I initially applied and im excited to get an early start here at Edward Jones. From what I hear its a financially rewarding career if you put in your time and efforts.

Just got hired, official start date is May 05. Anybody else going to St. Louis on July 14 for KYC training?

The EJ Financial Advisor Opportunity in a nutshell

How to get hired: Talk to several FAs and have one recommend you. We get incentives for having you hired. If the process seems rediculous / disorganized and you get the run around- well that is how home office works- ALWAYS. It is not intentional, EJ home office is a giant, mass of untrained beureaucratic people who are sorting thousands of pieces of paper and consider their job accomplished if they process their paper- regarless if it is correct. Last year I tried to hire a BOA and had an ad out for months. They sent me THE three applicants that I sent them! They told qualified applicants the job was filled and it wasn't.

I've been with the company 3 years. It has been terrible. Peers of mine are on antidepressents, one considered suicide. Yep. Try working lots of hours only to take home 35K with the lowest payout in the industry, highest sales goals and mysterious overhead and expenses that are pulled out of your check. If someone doesn't pay their IRA fee, YOU pay it. If your BOA places erroneous trades and there is market loss, YOU PAY it. YOU Pay all the postage for tomes of legally required mail. These expenses are left out of their financial calculation and are excluded from their earnings calculator on their recruiting website. EJ was recently sued for misleading recruits on actual earnings and for not reimbursing expenses. They lost/settled and have changed some of their policies.

The training that Jones values at 100K+ consists of a few cheesy lines: Knock Knock How did I catch you at home today? OR I think you should buy this stock, it pays a blank dividend and the company makes xxxx products. IF YOU HAVE THE MONEY AVAILABLE, YOU SHOULD BUY SOME TODAY! This does not prepare you to be a financial advisor, you have to learn everything on your own.

This is a great job for someone right out of college with no working experience and NO FAMILY/LIFE. Good luck!

Lynne,
Thank you for your perspective. It's helpful for everyone to be reminded that no single career or lifestyle can be ideal for everyone. Otherwise, everyone would be doing it! Obviously, this choice is not right for you and it sounds like you need to reconsider your options and move on. I have met and personally know enough EJ employees to realize that your point of view is definitely not shared by the majority. In fact, yours is the first truly negative attack on Jones that I've EVER heard from the inside (if you are in fact truly an FA with Jones). As for anyone who reads this forum in consideration of seeking employment, the reality is that it will command a lot of hard work, requiring great self-motivation and dedication. It will be a struggle the first 3 years and the drop-out rate is high. But, in correlation with the Darwinian Theory, those who do survive are truly successful an reap many benefits. The key factors are: 1)You need to possess a specific innate set of personal skills & attributes, 2)You need to be willing and able to apply said skills & attributes relentlessly, and 3)You must never lose sight of your goals and the end rewards, regardless of the magnitude of interim tribulations. Lynne, good luck in finding an employer or career that IS right for you.

For those of you who want a non-biased view of how Edward Jones stacks up against its competition, view the Registered Rep Magazine's 2007 Annual Report Card:

registeredrep.com/mag/finance_registered_reps_broker/index.html

In 2006, Jones had an impressive lead overall and in almost all categories (including "Ongoing Training")

See also Fortune 500's List of "100 Best Companies to Work For":

www.mutual-funds.us/magazines/fortune/bestcompanies/2008/snapshots/4.html

Notice that last year 422,102 people applied for jobs with Jones (yes-nearly a quarter million people!) Perhaps that might explain how a mixup with a mere 3 applicants could arise.

One should also note an even more impressive fact . . . of those 422,102 "hopefuls", only 1,182 new jobs were created. That's appoximately 3 out of every 1,000 actually got a job! The statistics don't state how few of those were FA positions, but regardless, this shows that only the "creme-of-the-crop" get in. Then there's the training! Count on working 50-90 hrs per week during the first 2 months (including orientation, conference calls, regional meetings on the other side of the state, and oh yes -STUDYING!) The next level of "weeding out" is the Series 7 Exam. You get only one chance to pass or your out! National statistics say that around HALF of all people do NOT get a passing score of 70% or above their first time. Don't worry, if you fail you can always go to work for someone else and retake the test. But, EJ proudly produces a 90% pass rate (far above the nat'l avg.!) After the Series 7, there's also the Series 66, which is equally demanding in a different way. Finally, the Insurance License (a cake-walk compared to all else). The next major "weeding out" is the successive 8-12 months after the "Can Sell" Date when you will be expected to create a client base of 1,000 accounts. Someone told me that half of the new FAs drop out in this stage. THEN, you get your office!

< continued from previous post . . .>

I heard that Year #2 "weeds out" another 25-50% of the new FA's who just can't take the constant demand to meet "another 25 quality clients" EVERY day five days a week.

As Lynne has illustrated, even in Year #3 people continue to get discouraged and drop out. Like an Iron Man tri-athlete who collapses in the final mile of the marathon run, this sounds like a sad end to a grueling struggle to succeed. Yet, it all goes to show why the few who do survive, thrive! At the end, "Survival-of-the-Fittest" results in nothing but a very select group of top performers.

After reading this, most of you may seriously wonder if this is the right choice for you. If you have any doubt whatsoever, then the answer is clearly "NO". You should apply ONLY IF you are 100% clear up front what it's going to take AND you are 100% committed to endure through thick & thin AND you are 100% confident that you will succeed. Otherwise, you probably won't even get past the first couple interviews.

As a final visual metaphor, you should thoroughly assess your abilities, the distance to the other side, and how deep is the hole BEFORE you jump. Then, if you leap only half way, don't expect to make it to the other side!

Good luck to all who do try, I hope to meet some of you on the other side!

P.S. Guess who's ranked #1 for 14 consecutive years in the Registered Rep Magazine's Report Card AND who has won J.D. Power & Associates award for "Highest in Investor Satisfaction With Full Service Brokerage Firms" for 3 years straight!

For a partial list of other awards (not updated to reflect all current awards):

www.edwardjones.com/cgi/getHTML.cgi?page=/USA/different/awards.html

YES, I'm proud to be in and YES, I think the struggle to survive is worth it!

I just wanted to say good luck to any other new EJ FAs like me out there who start studying tomorrow! "Hopeful", I know you're one of them, so good luck to you.

In regards to the tuition reimbursement EJ offers, they will reimburse up to $5,000 per calendar year, per the program guidelines. If you need additional information, speak with your recruiter.

Lynne, thanks for the input. This thread occasionally needs an opposing opinion to get people thinking. With that said, it sounds like you should really look for another job. I imagine that is what you are already doing since at 3 years in, your training contract has been fulfilled.

Unlike Newbie, this is not the first (or 91st) negative opinion I have heard of EJ, and I don't doubt that you are (or were) an FA with them. I appreciate knowing about the hidden expenses and I fully expect sales training to be chock full of cheesy lines. But people this is what you need to remember: THIS IS A SALES JOB. Let's take a minute to let that sink in...

Yes, they call you a financial advisor, but you need clients first. The only way to get clients is to get off your butt and find them. Yes, it can be degrading, cheesy, and take up all your waking hours, but (say it with me now)... THIS IS A SALES JOB!

And you know what? EJ offers some of the best support and training in the industry.

Perhaps my perception may be skewed by the fact that all the FA's I know personally have been very successful and very happy. True, I happen to be located in the #2 Market of the entire US, but the truth is, I just recently moved from Michigan, where I was an EJ customer for the past 10 years. My FA is one such successful & happy veteran whom I got to know quite well on a personal basis. True, I've read some negative comments from strangers on this and other forums, but I have yet to hear criticism from people I know personally. It's not to say I won't ever hear any nor it's not to say I may never have a few gripes of my own to air. I AM a realist & I expect that it's not all going to be a happy fairy-tale adventure. I must also agree that Lynne's comments add a healthy balance to the comments of this site. I do hope I did not appear to have come across as negative towards her. I just wanted to provide a rebuttal on behalf of Edward Jones based on facts and let the readers decide what they wish. In addition, my main objective was to make it clear that this lifestyle is not meant for everyone and not everyone should consider taking on this kind of challenge without careful consideration of what this monumental undertaking realistically entailes.

Congratulations and good luck to you Bribkc and all the others who are just starting!

couple things for those who consider to be a FA for EJ;
1, have to able to close 10-15 cases per month in first 3 years, if not, extra over-time on top of a 60 hour week.
2, make 1/4 less of what other FA makes on income
3, make sure individual are there for the long run(till retire), once leave EJ; none of the csutomer in book can be sold or transfer
4, be able to accept paying EJ for the first 3 year support up to $60,000 if quit or fire during the first three year
5, not able to learn as much as compare to other wirehouse
the pros are
1, no one is there to monitor what FA do, total freedom
2, potential 6 figure icome in 4 years
3, total complete control of daily operation
4, being able to qualify for lot of incentive (trips, bonus, etc)
5, exposure to top wirehouse recruiting

bottom line, if people feel strong about working forever at EJ, this would be a great choice to make, if not don't even consider about it.

Ok a1, I can accept EJ bashing if it is well-written and has valid points. Sadly, your post is lacking in both respects. While I'm tempted not to feed the troll here, just for fun, let's review your "points".

"1, have to able to close 10-15 cases per month in first 3 years, if not, extra over-time on top of a 60 hour week."

First of all, english is your friend. Sweetie, like I said earlier this is a SALES JOB. There are production quotas. How long it takes to meet them is up to the individual. So stop crying and try to take responsibility for your own performance.

"2, make 1/4 less of what other FA makes on income"

If you're referring to paycheck income, then yes, on this point you are miraculously correct. This is part of the reason why some FA's choose to leave EJ. Other FA's consider it fair trade for the various perks EJ offers them.

"3, make sure individual are there for the long run(till retire), once leave EJ; none of the csutomer in book can be sold or transfer"

On this point you are absolutely wrong. I know of several FA's who left EJ and took clients with them. You are perfectly within your legal rights to send your clients a letter telling them you have left to go to another company, set out your own shingle, etc... EJ cannot prevent any client from being transfered if that is what the client wishes.

Continued...

"4, be able to accept paying EJ for the first 3 year support up to $60,000 if quit or fire during the first three year"

Actually, it's 100,000. And yes, if you leave within the first three years they can come after you to recoup training expenses. It's all spelled out in the contract if you are offered a position. If you don't like it, don't sign the contract. See how easy that is?

"5, not able to learn as much as compare to other wirehouse"

Actually, the industry agrees that EJ offers the best new FA training you can get anywhere. Maybe this other wirehouse is teaching you how to write using proper english grammar? Not looking good so far...

Hello all. This forum has been extrememly informative and I am grateful for it. I appreciate all the positive feedback along with the negative.
I just had my formal 1 hour phone interview and I am unsure how it went. I believe it went well. But one thing I notice is that candidates on this forum state that they were told they were moving forward to the survey and f2f at the conclusion of the formal phone interview. I was told that by the recruiter that she will get back with me in 3-5 business days if she decides to move forward. So, has anybody been called back after the phone interview to move forward or are the candidates told at that time?? Any input would be appreciated....

Candidate 12 in Daytona Beach, Florida said: Hello all. This forum has been extrememly informative and I am grateful for it. I appreciate all the positive feedback along with the negative.
I just had my formal 1 hour phone interview and I am unsure how it went. I believe it went well. But one thing I notice is that candidates on this forum state that they were told they were moving forward to the survey and f2f at the conclusion of the formal phone interview. I was told that by the recruiter that she will get back with me in 3-5 business days if she decides to move forward. So, has anybody been called back after the phone interview to move forward or are the candidates told at that time?? Any input would be appreciated....

I was told right away that I was moving forward. However, my sister who is currently working for Edward Jones had to wait a few days. I think it is up to the "recruiter" on the phone as to when they tell you about the next step.

Bribkc in Richmond, Virginia said: "4, be able to accept paying EJ for the first 3 year support up to $60,000 if quit or fire during the first three year"

Actually, it's 100,000. And yes, if you leave within the first three years they can come after you to recoup training expenses. It's all spelled out in the contract if you are offered a position. If you don't like it, don't sign the contract. See how easy that is?

"5, not able to learn as much as compare to other wirehouse"

Actually, the industry agrees that EJ offers the best new FA training you can get anywhere. Maybe this other wirehouse is teaching you how to write using proper english grammar? Not looking good so far...

Bribkc,
Don’t take my word for it, ask your local EJ financial advisors.
By the way, when thing sound to good to be true it usually is,
Confirmation bias is for individual who's in denial.

Dear Newbie,
I am not here to rain on anyone's parade but to tell the truth. I was recruited by a friend and FA. Even though I asked about incentives he had to hire me, he told me there were none. I was his DIV trip incentive hire. I ignored concerns about expenses and the business model because I really trusted my friend. Your recruiter can't tell you how terrible it will be for at least 5 years because we could never recruit anyone!

I am very proud of how Jones advisors treat our clients but as for Registered Rep surveys- well those are sent to selected FAs . Furthermore if 70 to 85% of the cream of the crop hirees departs Jones, what does that say? These aren't stupid or lazy lackeys. These are people who become dissillusioned. The ONLY FAs in these surveys are the vets, most of whom never worked at any other firm as an FA and earned less than 40K in their previous job. My good friends who are 7 to 8 years out still have to bring in 700 to 1M a month in new money to earn that 6 figure living! (700000 * .03 *.38 payout = 7980/month, less expenses of 600 *12 = 88.5K per year) Throw in trails on 40M Assets U Mgnt and you have 100K/year. That NEVER ends.

My main complaint with Jones is that the hiring process is dishonest and the business model is high cost, low efficiency. All our competitors have lead generation programs, such as company retirement plans or banking services. We have door knocking. If you live in a metro area, MOST clients you would want won't do business with someone at their door step. The company tries to self propagate the cult of door knocking among other things. Many successful FAs are in leads groups, chamber, rotary, public speaking arrangements and that is their lead gen. Or they live in small towns where they know everyone anyway. For those of you studying I recall admonishments of don't take exams open book- everyone does and people pass. The 7 is easy.

Lynne,

Thank your for your candid view from the inside. As I mentioned already, your perspective adds a necessary balance to this forum. I'm quite sure though that there is no perfect place to work and thus I'm not doubting in the least anything that you say. I have to believe that with a little research you could find disgruntled wmployees with an equal list of complaints about their firms. What's most important is that the information is presented such that anyone in the position of having to choose can both sides and make an informed decision. Your input is appreciated.

i am with ej right now.....i have series 7 and 66, but i'm not doing well here....what are my options....i work hard but no results yet....

Just checking in with all of you out there that started studying along with me on Monday. So far... it's been a busy week! Harder than I actually thought, but getting easier now that I have established studying pattern. Just wanted to see what everyone else thought. Love to here with those that started along with me!!!

How are you guys?!!! I am an spanier living in USA for the last 6 years. I have been reading you for long time and in my opinion this forum is very very helpful . I got some questions for you, please help me with it.

E.J. has been awarded as: “………. ranked No. 4 on FORTUNE magazine's"100 Best Companies to Work For" list”, so this award is base on what parameters? In other words: Why E.J. is one of the best financial companies to work for?
Some body can explain it?. This award catch my attention because reading you day after day and base in what you said, imagine!: if door knocking is so painful, if the company pay only ¼ of the money that the competence pays, if you have to reimburse the company back if you quit or they fire you before 3 years after the training and the business model doesn’t include a more sophisticate leads generation system. I DON’T SEE HOW IS A GOOD PLACE TO WORK FOR ?!! Please I need an explanation about it.

This one is a general question about the professionals in this business: Beside the type of business like E.J. What other position can be available (non Financial Adviser position) for a professional that hold the License Series 7?
Thank you very much for all the good inputs about this business and god bless you!
Roman.

I may be wrong, but you're only libel for the reimbursement of training costs if you quit and take a job in a "like" industry. Being fired has no bearing on the reimbursement.

ChuckJ, just wondering how your exam totals compared to your actual test score?

Anybody else start studying on May 05?

Hi all! took - and passed! - the series 7 today.
I'm glad that's behind me.. studying for hours and hours a day for 7 weeks has been draining. Now I start studying for the 66...
I did not get a great score - 72, but I passed and that's what counts. A few months ago I probably could have beat myself up for not scoring higher, but I'm perfectly ok with just having passed. The point is that I think as you are studying you have to figure out what system works for you. If you don't yet know how you learn best, figure that out.
Use the resources that you have. Manage your time as best as you can. Take it seriously and figure out what things you must know - you will figure that out as you are studying and taking practice tests througout.
You just need to pass. Whether one becomes a great advisor or not has nothing to do with how well you do on the Series 7 - so long as you pass! :-)

Roman - bienvenido compatriota! :-) de donde eres?

Good luck everyone studying!!! don't lose your mind and just think, this is a great time to get to know your neighborhood coffee shop (and their owners!!)
Cheers

Congratulations Sofs07 on the success to pass the test for the Series 7.
Soy español. Thanks Roman

Congratulations Sofs!! I know what a relief it must be to have it over and done with. I'm coming up on my 4th week of studying and it's kicking my rear end. Good luck on the 66!

Dear Sofs07 please, enviame un Email to nmazorra@msn.com I want to comentarte algo importante to me. Thank you. Roman

Hello Everyone! I just received my offer package and I now must decide if I'm going to take the job.
This forum has been helpful in getting both the pros and cons of starting with Edward Jones. Please Keep putting the information out there for us newbies.
I'm a career changer that was making 100k a year in the car business. I was hoping to reach the $50k-$60k area the first year, $70-$80k the second year and $100k plus for my third year as an FA.
Is this unrealistic at Edward Jones?

Unrealistic? No. Probable? No. I'd say only 5-10 percent of the people pass 35K in the first year. They say to expect 100K in your 3rd year. I'd say that the more realistic number is 5-6 years. Take what ever they tell you and chop off 30-40 percent. Most of the early income they quote you includes some monthly account bonuses that are extremely hard to reach.

I am graduating this year from the University of Arizona with a degree in Buisness Writing. I have my phone interview with Edward Jones next week and am applying to work in NY, where I'm from. I'm curious as to how they can put someone like me, a twenty one year old, in an office and convience people to trust their money with someone so young. I am great at sales and have done plenty of cold calling through an internship with Merrill Lynch, but I still can't imagine telling a client who asked that I have been an advisor for less than a year and am twenty one and having it work out. Any insight would be apreciated.

sofs07 in Minneapolis, Minnesota said: Hi all! took - and passed! - the series 7 today.
I'm glad that's behind me.. studying for hours and hours a day for 7 weeks has been draining. Now I start studying for the 66...
I did not get a great score - 72, but I passed and that's what counts. A few months ago I probably could have beat myself up for not scoring higher, but I'm perfectly ok with just having passed. The point is that I think as you are studying you have to figure out what system works for you. If you don't yet know how you learn best, figure that out.
Use the resources that you have. Manage your time as best as you can. Take it seriously and figure out what things you must know - you will figure that out as you are studying and taking practice tests througout.
You just need to pass. Whether one becomes a great advisor or not has nothing to do with how well you do on the Series 7 - so long as you pass! :-)

Roman - bienvenido compatriota! :-) de donde eres?

Good luck everyone studying!!! don't lose your mind and just think, this is a great time to get to know your neighborhood coffee shop (and their owners!!)
Cheers

Sofs07 congrats. I am curious to what your scores were on your chapter and checkup exams.

I had my final interview tuesday and I am just dying to know the outcome. How long does it normally take to hear something?

Having been an advisor for Edward Jones,I know there is a lot of negativity out there within the company. The "opportunity" is not much different than the "Amway" "opportunity". The "potential" is there.They do have better training than any company I have ever worked for before or after. If you stick with it for five years, it can be a good source of income. But in the beginning, you are NOT an "advisor"-just a product pusher (you need a lot of sales for the crappy commission rate they pay and to cover your overhead of having your own office).Don't expect any kind of life for the first two years-expect to work 6 if not 7 days a week- unless you can convince your spouse to also work at this full time with you (for free). That is the way the business is designed-to have your spouse helping full time.The company expects you to make the quota sales regardless of who in your family may be dying.

What makes so many people want to work for edward jones or even in the securities business if the first 3-4 years are so brutal and has very little pay?
Why does edward jones make many magazines "best place to work "list if everything is so negative about the company and the industry?
The EJ advisors I've talk to all seem very high on the company and the work they do. They all mention the first 2-3 years being tough but worth the effort in the long run.
jim

To be hired as an Edward Jones FA, you need to have the ability to communicate, have impeccable organization skills and an unbelievable drive to succeed. Reading your comment, I would not have recommended you for this position. This is a tough job, move on. Yes, I put in a lot of hours into my job, but I always have worked long hours and love to do something that I believe in. As far as the leads are concerned... that you believe to have generated before your interview: you weren't licensed and you were not authorized to ask ANY kind of financial questions, so I am not sure what you were doing there. Instructions are very clear: ask people how long they have lived there, how they like the neighborhood, etc. You can't be serious if you think that your logs were even remotely useful to an Edward Jones FA.

just curious- are you still working for Jones? You sound very angry! hoe long did you last?

C in Chicago, Illinois said: There is tons of money to be made with Edward Jones but the key ingredient, and it is posted on their website, is door knocking. You have to make 25 contacts everyday. I went through my door knocking exercise and it took me 3 hours! Three hours later I made 25 contacts and I knocked on over 100 doors. You deal with people that aren't home, people who have no soliciting on their front doors, and people who basically lie to you in your face.

The reason they say only 10% of the people actually get hired is because only a small percentage of people actually brush off the task of door knocking. The rest of the population don't like door knocking and think it is silly. Any financial institution that offers a position that involves selling will basically hire anybody they interview. It is up to the individual to ask themselves if they feel comfortable with the strategies that the company was laying out.

It doesn't cost EJ too much to put you through training. If you are horrible at making contacts, you will be fired. If you don't make 25 contacts a day, they will fire you. The base is great for a company financial services company and the incentives are phenomenal. The reason is because you basically do the sales for them. You doorknock, the cheapest way of marketing that you will ever get. If you think about it, the companies like Merrill Lynch and Morgan Stanleys offer a better base. However you need a lot of experience and you need to hit a certain amount of sales otherwise YOU pay the Merrill Lynchs or the Morgan Stanleys if the world back. back.

I turned down an offer from Merrill to come to Jones!

Dear Justdoit33 to be successful in any sales job you have to work a lot, you have to work very serious and you have to put a lot of time far away from your family to make seriuos money so ...... this is a general rule for a salesman with a plan to succeed in any field. Now, Jim Harrison said:
________________________________________________
" What makes so many people want to work for edward jones or even in the securities business if the first 3-4 years are so brutal and has very little pay?
Why does edward jones make many magazines "best place to work "list if everything is so negative about the company and the industry?"
_____________________________________________________

Could be very nice if somebody have a good answer for this. Why?! if soooo many problems for sooo many years?!!!!!

Just as example: You can make $8K a month at this moment ( without a lot of experience) selling used european and japanese cars and yor will work 6 days a week AND THE CUSTOMERS COMING TO YOU!
Please justdoit33 since you know more than others guys here about this job give us a better explanation of this problem.
Thank you
Roman

Hi Lynne -- I started out with Jones and moved to a Wirehouse fifteen years ago (I'm now a branch manager). I'm not going to say anything about Jones, because people become REALLY defensive. But, I will say there is some definite misinformation in some of these postings. Also, there is a huge cultural difference between Jones and the major firms (Smith Barney, Merrill, UBS, Wachovia). Anyway, I was going to suggest that you speak to a major firm. As an example, we have a three-year training program with a salary of 60m a year in addition to your commissions. You don't pay any expenses. We are very selective in who we hire -- I went two-and-a-half years without hiring a trainee (we can't afford the "spaghetti strategy"). We want a minimum of a bachelor's degree and five year's previous business/sales experience. In my branch, nobody is making less than 250m (their take home) a year. I'm passing this on because I went through what you went through, and just because things aren't working out at Jones doesn't mean you're not right for this business. Don't give up. Good luck.

My response above was to the Lynn B in Dillon posting on the previous page, and not intended as a recruiting posting or as a posting trying to discourage people here from going to work for Jones. Please don't start a flame war.

Warent Buffet my friend, let me know something: This program that you have (three-year training program with a salary of 60m a year in addition to your commissions) is the way your company works for everybody that star with you gays or is this a program that your particular office is runing? By the way, For what company do you work? Thank you in advance.
Roman