ED wants you to have an "owner mentally", but they do not want the BOA to be at the same level as the FA. The BOA is an hourly employee, subject to frequent performance reviews but the FA is not subject to any performance reviews by the BOA and the FA can also fire the BOA at will. The biggest issue I experienced was that some Financial Advisors were absolutely lazy and terrible. As EJ's business model is built around a branch with one FA and one BOA the BOA must singlehandedly manage the entire branch operations alone often while the FA is out golfing. The FA will often push many of their responsibilities onto the BOA as well. So basically the BOA is doing both jobs while the FA is taking it easy. Yet it is the FA who decides if you should qualify for bonuses and raises. The FA is given privileges to work remotely in bad weather, while the BOA has to be there in person unless the FA decides they can have a paid snow day. So many things are completely at the discretion of the FA. The FA's also get significantly better compensation, perks and benefits and can potentially make huge sums of money, but BOA's are capped in many ways from making more than a small fraction of that.
I believe this is due to the fact that historically the FA has been male while the BOA has been female. And while I know some headway has been made is changing that, it is still overwhelming the case. And there is no effort made or real pathway for BOA's to ever become FA's. They even have a personality test they make you take to tell whether you are more submissive and caregiving (the qualities they want in a BOA), or whether you have more of a leadership personality (the qualities they want in an FA). Good luck being a BOA if you aren't satisfied being treated as a second class employee. Also, many FA's will try to use their position to have in-office affairs with their BOA's. Luckily EJ does fire employees immediately if they find out, but just be aware many will try.
