http://www.indeed.com/forum/cmp/Edward-Jones.html Indeed.com - one search. all jobs. en-us Copyright (c) Tue May 21 06:47:51 CDT 2013 Indeed, Inc All rights reserved. Tue May 21 06:47:51 CDT 2013 http://www.indeed.com/images/indeed_rss.png http://www.indeed.com/forum/cmp/Edward-Jones.html http://www.indeed.com/forum/cmp/Edward-Jones/get-job-at-Edward-Jones/t20008/p47 http://www.indeed.com/forum/cmp/Edward-Jones/get-job-at-Edward-Jones/t20008/p47 2013-05-17 18:05:39.0 ^ 3). Yes you get paid once a month....budget your money (like you would tell clients too) And it is a non issue. 4). 300 gross would be 120k a year to FA 5). Segment 4 (segments are gone now) is 40,000 gross A MONTH, not per year!!! 6). Your accounts may have been 50k-60k....that means you didn't get many large clients. That's your average not "Edward Jones'" 7). We just won some Technology award. We have one old system, that is consistently being updated. 8). Yes, you should do what they "dish out." EJ has stood the test of time and has been very successful. They are trying help you, because they know what works. 9). "Look at the banks."....I would agree to look at the banks if you are not a self-motivated person and never want to be in control of your business. (Not ripping on the banks, I have a lot of friends who work at them but beware...when your pay is higher than the bank president (they don't like that) they "restructure." Also, plan on work "bank hours" with limited vacation.) 10). I would say 40% is the average, that is higher than most. 11). With this business the sooner you get in the better.....I would say it was not recommended for YOU out of college. I wish I started right after college. 12). "Benefits are minimal"??? I will agree that health insurance is not great. What other firm offer LP and GP. The benefits are great. Unlimited vacation/sick time, trimester bonuses, profit-sharing.... I am not telling everyone that it is easy. I felt I had to reply to this post as it is factually not accurate. Also, many of the issues listed you are made aware of before you are hired... I apologize now for spelling/grammar errors (typed on my phone). http://www.indeed.com/forum/cmp/Edward-Jones/get-job-at-Edward-Jones/t20008/p47 http://www.indeed.com/forum/cmp/Edward-Jones/get-job-at-Edward-Jones/t20008/p47 2013-05-17 17:48:51.0 [QUOTE who="thomasj123 in Castaic, California"]I recently left Edward Jones not too long ago. Here's the reality; -you need to convince a lot of people to turn over money to you or you will just not make it -you need be comfortable selling load mutual funds to survive; not the best companies either, just average in the industry -you will only be paid once a month once your license is activated -you'll need to do $300K gross production to make $100K and you'll be working your tail off -you must love to door knock or you will be canned because of your numbers -you'll be doing training a lot and have to attend tons of meaningless meetings from veterans(10+ years with Edward Jones) who are barely Segment 4, which equates to less than $40K per year -average Edward Jones accounts are about $50/60K which is puny, so beware. Also, keep mind of breakpoints -you must be willing to go back in time with the outdated technology at the firm -you pretty much have to be a robot and just take everything as they dish it out; if you're analytical or very knowledgeable about investments then I'd avoid this firm at all costs (very small number of analysts) Word of advice: look at the banks over Edward Jones. Pay is barely minimum wage and you'll probably barely make $30K the first two years. I wouldn't do this if I have debts, student loans, etc. -you'll only get somewhere in between 30-40% of net commission from what ever you bring in production -not recommended for someone right out of college Benefits are very minimal and not worth much. If you have any questions about the firm, please just reply to this listing.[/QUOTE] I saw this post and had to reply. 1). Yes you are correct, you can't not have clients and make money 2). You can sell what you want (within reason) there are "loaded" funds, managed accounts, no load funds....(not sure how long you were employed with Jones, but there are thousands of funds you can use. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 2013-05-14 10:06:24.0 [QUOTE who="sturg11 in Salt Lake City, Utah"]Bravo for seeing through his rant, Jason. To answer your question directly, would you prefer to live on the top floor of a penthouse suite with a spectacular view, knowing the trade off is that it would be more difficult to vacate the building in the unlikely event of an emergency, or would you prefer a ground level unit with no view, knowing it would be far easier to get out in an emergency? The question is one of risk and return. Would you rather take on more risk for greater return, or stay with the "comfort" of a stable salary. Nothing wrong with either choice, but I think that is the question to ask. To address the rant, I am four years into my career with Jones, I work in a town of 50,000 people, and my W-2 for last year was $197K. In addition, Jones flew my wife and I to Grand Velas resort in Mexico for a week all expenses paid. They also sent us on a cruise in the Mediterranean six months before. Our payout is much higher than a fixed percentage, when all the perks are factored in. I hope this does not come across as bragging, I am frustrated by the unsubstantiated rant. You can build your business however you would like. I have less than 100 clients and am a comprehensive advisor. Last time I checked, Fidelity didn't offer long-term care products, which protect against one of the greatest dangers facing our clients. Are there people at Jones who are just licensed salespeople? I am sure there are, as I am sure there are at Fidelity. I have never had to compromise my ethics in the least. Contact me if you'd like more helpful info.[/QUOTE] Btw, I have restarted my business three times at Jones, and am now in Idaho. When I started with Jones, I was in Salt Lake. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 2013-05-14 09:56:20.0 [QUOTE who="Jason in Hattiesburg, Mississippi"]No, that really doesn't help, to be honest. No offense, but your opinion seems like sour grapes to me. I know several people personally who have done very well with Jones and told me it was the best decision they ever made. The reason I asked this question was to get a few pros and cons. No point in trying to claim it is a terrible job - Fortune 500 begs to differ.[/QUOTE] Bravo for seeing through his rant, Jason. To answer your question directly, would you prefer to live on the top floor of a penthouse suite with a spectacular view, knowing the trade off is that it would be more difficult to vacate the building in the unlikely event of an emergency, or would you prefer a ground level unit with no view, knowing it would be far easier to get out in an emergency? The question is one of risk and return. Would you rather take on more risk for greater return, or stay with the "comfort" of a stable salary. Nothing wrong with either choice, but I think that is the question to ask. To address the rant, I am four years into my career with Jones, I work in a town of 50,000 people, and my W-2 for last year was $197K. In addition, Jones flew my wife and I to Grand Velas resort in Mexico for a week all expenses paid. They also sent us on a cruise in the Mediterranean six months before. Our payout is much higher than a fixed percentage, when all the perks are factored in. I hope this does not come across as bragging, I am frustrated by the unsubstantiated rant. You can build your business however you would like. I have less than 100 clients and am a comprehensive advisor. Last time I checked, Fidelity didn't offer long-term care products, which protect against one of the greatest dangers facing our clients. Are there people at Jones who are just licensed salespeople? I am sure there are, as I am sure there are at Fidelity. I have never had to compromise my ethics in the least. Contact me if you'd like more helpful info. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p2 2013-05-14 08:26:58.0 Correction millions of advisors are not retiring obviously, but you get my point. Typing on my phone. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 2013-05-14 08:24:47.0 You are coached at Jones on how to answer surveys for Fortune 500 Barron's etc surveys whether you know it or not. You'll find they constantly repeat what they want you to answer. I worked at Jones and left to become independent. My advice, start there get trained there, if you are lucky you may simply fall into a position where you never want to leave. I.e. taking over a big book. Otherwise get rolling and go independent, you can do much better for your clients and yourself. Jones is a good place to start though. I think they offer a decent base salary these days. I'm 29, I refer ppl to Jones who I don't think are truly ready to be on their own yet and tell them to come work with me in 2-3 years. You should be able to replace your salary pretty easy. The one truth that should influence your decision is that this is an aging field. Not only are millions of ppl retiring but so are millions of financial advisors. The percentage of advisors under 30 is almost nil and the avg age is still around 55. Go to jones get your licenses paid for work a couple of years and keep ALL of your options open, you will be in high demand. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 2013-05-14 07:59:23.0 [QUOTE who="Rant in SoCal, California"]Hi Jason, I started at Edward Jones at the age of about 25 and worked at Fidelity Investments prior. Door knocking is quite tedious with very little payoff in my opinion. Realistically, there are people at Edward Jones (working 10 years) still not making that amount you mentioned above. Also, depending on your area you are likely not to make anywhere near that amount. I started my own firm because I didn't want to share over 60% of my fees to Edward Jones and wanted to actually give my clients true wealth management. I'm much happier now that I have full control of my investment offerings and services. Unfortunately, Edward Jones has smaller value client accounts. I have to get accounts in excess of $100,000 to justify my time since I'm a Certified Financial Planner. I also do comprehensive financial planning. Don't be fooled by the nice happy commercials, they are inherently conflicted. Most Edward Jones advisors do not understand basic investment concepts and are just licensed salespeople. Your job is to gather assets. If you are in a low-income area, you will have to get 1,000s of accounts to barely make it. www.dailyfinance.com/2012/12/06/can-your-edward-jones-financial-advisor-really-ser/ Be careful, your ethics are likely to be compromised at this firm. If you want to earn about $100K, you'll need production of about $300K. It takes a lot to get to $300K. Hope that helps. I'd recommend you be an assistant to an advisor at the bank; get licensed and you'll have more lucrative options.[/QUOTE] No, that really doesn't help, to be honest. No offense, but your opinion seems like sour grapes to me. I know several people personally who have done very well with Jones and told me it was the best decision they ever made. The reason I asked this question was to get a few pros and cons. No point in trying to claim it is a terrible job - Fortune 500 begs to differ. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 2013-05-13 23:43:39.0 Hi Jason, I started at Edward Jones at the age of about 25 and worked at Fidelity Investments prior. Door knocking is quite tedious with very little payoff in my opinion. Realistically, there are people at Edward Jones (working 10 years) still not making that amount you mentioned above. Also, depending on your area you are likely not to make anywhere near that amount. I started my own firm because I didn't want to share over 60% of my fees to Edward Jones and wanted to actually give my clients true wealth management. I'm much happier now that I have full control of my investment offerings and services. Unfortunately, Edward Jones has smaller value client accounts. I have to get accounts in excess of $100,000 to justify my time since I'm a Certified Financial Planner. I also do comprehensive financial planning. Don't be fooled by the nice happy commercials, they are inherently conflicted. Most Edward Jones advisors do not understand basic investment concepts and are just licensed salespeople. Your job is to gather assets. If you are in a low-income area, you will have to get 1,000s of accounts to barely make it. http://www.dailyfinance.com/2012/12/06/can-your-edward-jones-financial-advisor-really-ser/ Be careful, your ethics are likely to be compromised at this firm. If you want to earn about $100K, you'll need production of about $300K. It takes a lot to get to $300K. Hope that helps. I'd recommend you be an assistant to an advisor at the bank; get licensed and you'll have more lucrative options. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 2013-05-13 23:22:32.0 Any help would be appreciated. Thanks. http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 http://www.indeed.com/forum/cmp/Edward-Jones/Edward-Jones-Salaries-Bonuses-Benefits/t20918/p1 2013-05-13 23:20:54.0 I am thinking of giving up a $52,000 a year salary in Mississippi to work at EDJ. My wife makes $42,000, and we do not have a house note or rent. No kids, but we would like to try in a year or 2. I am 31 and she is 28, so we live a very comfortable life. I am just not sure whether we are ready to give that comfort up. Is it worth it? http://www.indeed.com/forum/cmp/Edward-Jones/planning-calendar/t468409/p1 http://www.indeed.com/forum/cmp/Edward-Jones/planning-calendar/t468409/p1 2013-05-08 10:15:50.0 I am doing the business plan and was curious what they want to see on the weekly calendar. Office time, cold calling, networking etc? Any advise?