Edward Jones reviews

- Limited Product Offerings - Need wrap accounts

No accountability, no support, no training, extraordinary attrition. If you start out as a new/new, that means a new FA starting a new office, you will fail. You might think to yourself, "oh, I'll be different". Well guess what, it is impossible. All those guys you meet along the way who say that they were new news are lying. They may have started that way, but likely they received a big chunk of assets from an office that closed. NOBODY succeeds as a new/new, nobody. If you can't get into an existing office with at least 25 million in assets, be sure to keep all your doors open, utilize your prospecting to keep track of companies where you would like to work, and plan on getting a new job at some point in the future. Nearly everybody fails. I started out in a Study for Success class of around fifty or so. I am the last one left at year three. 2% retention at three years, that isn't good. It is not possible to survive if you haven't saved up a bunch of money, or have a source of additional income such as a spouse, parent, etc. When I write a source of additional income, I mean enough additional income completely to replace the income you expect to earn at Edward Jones. In reality, you should plan for income of between zero and fifty dollars per month. The income you have early on will be roller coasterish. Personally, I went from a month where I made seven thousand dollars, to a month where I made $420. The old guys joke in some Jones literature about how they had months where they actually owed Edward Jones money. LOL! That is so funny. That is sarcasm, by the way. What is funny about not having the money to feed your children? Absolutely nothing. What is sad is that there is no need for that. Edward Jones makes enormous profits, and sustaining the ability of its newest employees to survive should be more of a priority. Jones is really pushing its Advisory Solutions program. It's essentially a wrap account. When I started at Jones, one of the big plusses to me was that there were no proprietary products. Not so any more. I really worry about that. So use Advisory with care. Finally, many of the brokers are in fact just like the brokers everywhere else. Edward Jones promises a culture of ethics and morality. The reality is that it is no different than any other large company. There are plenty of dishonest brokers out there. Watch out for them, do not share the names or any information about any of your prospects with any of the other local brokers until they have proven themselves, no matter what position that broker has in terms of the regional heirarchy, including the regional leader and your segment support folks. They struggle for new business just like you, only they have higher expenses, so they also are trying to get new business. Watch out, there are plenty who will take your best prospects from you and not think twice about it. With that said, I have met some extraordinary folks at Jones whom I trust completely. In fact, I told my spouse that should anything ever happen to me, take my brokerage statements and life insurance information, go straight to a specific FA's office, don't talk to anybody else no matter how much you like them, and do exactly what that FA says. I'm sure there are plenty just like that at Jones, but he is the only one in my region I would trust that way.