Edward Jones reviews

And now the bad news... Have you ever wondered why people have front doors on their houses in the 21st century? I have. Many times I have deeply pondered this. In this present day of wireless, socially intergrated, small computers in the palm of your hand technology. With online low cost investment trading platforms and modern garages, were people exit their car and enter the house through the internal garage door perhaps the last use of the front door is to let the dog out or to pick up your Amazon delivery off the front porch or if you feel so inclined maybe buying some Girl Scout cookies. As I pondered the use of front doors four things come to mind as it relates to prospecting door to door for Edward Jones. 1. Door knocking will wrack your nerves. I have done it for 2+ years now. I have knocked on at least 10,000 + doors and gotten about 60 clients from it. As you door knock think about the ever increasing production requirements placed on you as your meager salary disappears. Door knocking works....at a snails pace but the production requirements move at more of a rabbits pace. 2. Beware of the dogs when door knocking and please spare a thought for your shoes as some shoes are more expensive than others- my business shoes cost $150. Dog teeth do indeed penetrate shoe leather. And remember people do still use the front door to let their dog out- see above. 3. Did you know the encyclopedia britannica is no longer in print? As of March 2012 it turns out. They used to sell these things door to door..... 4. If you start brand new here you will need cash reserves, lots of them and the patience of a saint. Sorry got to go, the front door bell rang, must be my new shoes from Amazon. FYI I realize there are other options than door knocking to build your business but I address door knocking specifically as this is how Edward Jones wants you to prospect. But I have found that investment seminar and social networking to yield little better results. If you want success here take over an existing office with at least $30m AUM in a non competitive situation.

Unfortunately, I was never told that when I completed the "door-knocking" period and the initial training that I would not have an office to go to. There were no area Edward Jones offices that had sufficient AUM (assets under management) to bring on board a new FA under an asset-sharing arrangement . . . so after three months I received a surprise telephone call from someone in Saint Louis who I had never met telling me that my employment had been terminated. Look, this is a good company. They just have an unique business model that seems to work well for them--but sometimes not too well for new FAs. However, my advice is that one should not accept an FA position with Edward Jones unless that person is made to understand from the start that he/she will be paired with a named and established EJ financial advisor under an asset-sharing arrangement once the initial training has been completed. If you are not so paired when initially hired, then after the initial training period you will risk having no office from which to conduct business with clients, no assets to share (and therefore very little prospect of earning a post-training-period subsistence income while building a practice), or perhaps you will just get a phone call out of the blue from someone in HR telling you that your employment has been terminated.