Please give us a one liner to describe this review.
It all depends on your region.
What suggestions do you have for management?
Have accountability for new hires working from home, everyone should work out of another FAs office so you know they are improving and getting the job done. Hire people with talent, older people with money are not going to give there retirement money to a 21 year old graduate with a babyface and no life experience 9 out of 10 times and you guys know the stats, why waste so much money hiring and training people who are obviously bound to fail.
What don't you like about working at Edward Jones?
The business model is stone age, I see how it works in small towns. In bigger cities the competition has more to offer. They hire people with no experience typically, if you work there you will never meet someone that transferred from a prestigious firm, they hire teachers, car salesmen, people from outside the industry. Payouts are low and you never have a book of business, its all theirs. They cheat on the best place to work annual reporting which is why they are always on top of the list. They pre screen whats going to be said to see if you can participate and only successful people from the firm are invited, not random by any means. The 401k has no match, medical benefits are a joke. Pay is the lowest in the industry. You have a week of training after exams and you are on your own always calling st louis home office when you need help, trainers are not paid extra and often tell you they are busy, you feel bad in front of clients when you dont have an answer and call to get support for things you were not trained in and they say its just in time training ( what a joke). Most people work from home and try do appointments at coffee shops or clients house. Lastly, if you are analytical and like looking at stocks or watching the market, this is not the job for you. They will tell you that you are only an asset gatherer, you sell mutual funds only for long term, no such thing as buy low sell high. You are a salesman at jones not a broker.
Do you have any tips for others interviewing with this company?
You have to be personable, FAs are outgoing and like meeting new people. Don't try and use fancy words and be smart just talk to them like they are your friends and if you meet someone who works there get a referral and you have 95% better chance of getting the job. Oh, its a 2month hiring process.
What do you like about working at Edward Jones?
Ed Jones is different than any other brokerage firm, you can be successful if you build the right relationships. Many of the employees are very helpful if you reach out to them. You can have your own office. Great job if you are retired and want to work at your own pace or anyone with another check coming in.