Edward Jones Employee Reviews about "home office"

Updated 30 Jul 2020

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3.8
72%
Recommend to a Friend
89%
Approve of CEO
Edward Jones Managing Partner  Penny Pennington
Penny Pennington
282 Ratings
Pros
  • "Field Supervision and Home Office help more than you can describe here(in 168 reviews)

  • "Great training and company culture(in 159 reviews)

Cons
More Pros and Cons

Reviews about "home office"

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  1. Edward Jones - Home Office | Division of Edward Jones

    "Best place to work!"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Edward Jones full-time for more than 3 years

    Pros

    - The training and time they put into helping new advisors succeed is second to none. - The help from veteran advisors and willingness from others in the region is incredibly helpful. - The pay is competitive. - Field Supervision and Home Office help more than you can describe here. - Private company versus public has huge benefits for the employees.

    Cons

    - The emphasis they place on door to door prospecting. - The amount of changes that occur and as often as they occur is hard to keep up with as a branch team which can affect the Advisor’s pay in certain situations.

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  2. Helpful (1)

    "Bleed green, it may be worth it..."

    3.0
    Former Employee - Financial Advisor in Columbus, OH
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Edward Jones full-time for more than 3 years

    Pros

    Culture, Balance, Home-Office support, support to set up own office with admin and rent, etc...

    Cons

    Literally door-knocking for 3 years for little pay

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  3. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (3)

    "Good place to end up, bad place to start"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor in New Brunswick, NJ

    I worked at Edward Jones full-time for more than a year

    Pros

    A lot of freedom...you are not set to a traditional schedule but you are putting in far more than 40 hours a week Guidance and support are easily available from peers and home office employees Salaried worker for the first four years to help you get by while building your book. Great bonuses and trips

    Cons

    Sales generation is based off door to door if you do not already have existing clients to bring in The culture isn't for everyone, but for those who buy in it can be a great place for them to work

  4. Edward Jones - Financial Advisors | Division of Edward Jones
    Helpful (33)

    "Fantastic pedigree and business opportunity; nepotism at the regional level ruins it."

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Advisor in Indianapolis, IN
    Recommends
    Neutral Outlook

    I have been working at Edward Jones full-time for more than 5 years

    Pros

    Unlimited compensation potential.For most people starting new (Level-New), the onboarding and training process is head and shoulders above what you'll see at other large firms. During the hiring process, you'll do a business plan; a 'virtual day in the life' assessment, and at least three phone/in-person interviews. Edward Jones will then extend an offer. Day one, while studying to take the Series 7 and 66 exams, you'll be paid an hourly wage. 40 hours is recommended for study time, but you can do extra hours and get paid time and one half for additional work you put in (wink-wink). Once you pass the exams, you'll go to either St Louis, MO or Tempe, AZ for your "Know your Customer" training. Following this training, you'll be expected to hit the streets, making 25 contacts per day. At this point, you'll be on salary, but ineligible to earn commissions until you complete a requisite number of contacts over a 5-6 week period. You'll be told that you can make these contacts any way you deem necessary, but the only true way you'll get 25 quality contacts per day is by going door-to-door. In order for a contact to be considered "quality", you must have a name, a phone number, and permission to contact them. This last part is very important because these are the people you'll be calling on when you go back for "Launch your Practice" which is essentially a glorified graduation where you can officially call yourself a Financial Advisor. After evaluation-graduation. you still won't know a whole lot about being a financial advisor, though you will have mastered making contacts, handling objections, and setting appointments. Then, over the next 17 weeks, you'll work under the mentorship of an experienced Financial Advisor. You'll have a home-office coach, a field trainer, a level-leader, and anyone else you decide to take advice from. This firm is really well known for its helping culture. Just about any other FA will help you...but you have to ask.

    Cons

    Lead generation is cold-calling; primarily door-to-door. The decision on how you will start will be delegated to the leadership in the region you join. Here are a few examples: A. You start new. Nobody shares anything. You create your book of business. You keep what you kill and watch others joining the firm after you pass you in earnings. This is what we call New-New and it is very difficult to start this way, though the home office swears that many successful advisors build their business this way. B. Somebody quits because they've started as type "A", and you take over that book. You'll spend a great deal of time convincing clients that you aren't a quitter, but you'll be held to a higher production standard since you received these assets. Might as well be A. C. If you are lucky, perhaps you've demonstrated your determination during the 17 weeks and another FA (or several FAs) pool some assets and clients to get you started. By the way, these won't be people they enjoy working with; however, you may have better chemistry with the clients. That doesn't mean you've made it though. You'll need to continue door-knocking and asking for referrals until your business is profitable and sustainable for you. Keep in mind that your salary will drop off at year 5 and your highest ever commission will be 40% of revenue. There is a suggestion that you should have gathered $26 Million in assets by year 5 to be successful. Here's some math on that: 1. $26 Million (assume that half is in Guided Solutions) 2. $13 Million X 1.35% = $175,500 x 40% = $70,200 to you 3. There may also be residuals from the other half of your book, but keep in mind that stocks, bonds, CDs, and other investments only pay once. So, once you sell a $1M in 30-year municipal bonds, you're never getting paid on that asset again. D. You are the chosen one. EDJ recruited you from another firm where you might be able to bring assets over. (By the way, Edward Jones will sue you if you leave and try to take clients, but they'll darn sure poach from other firms.) You'll never knock on a single door. FAs in category C will resent you a bit, but those in A or B will hate your guts. E. You are the family member of a retiring FA, or you come from a line of Edward Jones royalty. Don't worry, you'll never knock on a door, you'll advance profitability levels very quickly as you are handed tens of millions of $ in assets to work with. You'll quickly surpass people in categories A, B, and C, even though you joined the firm three years after they did. You'll be lauded for the business you've built and encouraged to mentor those beneath your level of production. You'll make over $200K per year to start and those poor schleps who were 'successful' at building a business will be happy with their $70K at year 5.

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  5. Edward Jones - Branch Office Administrators | Division of Edward Jones
    Helpful (2)

    "Ehhh"

    3.0
    Former Employee - BOA Branch Office Administrator 

    I worked at Edward Jones full-time for less than a year

    Pros

    Home office support, local BOA support, Training program

    Cons

    Pay, local politics, FA gets all the attention when the BOA does all the leg work

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  6. Edward Jones - Financial Advisors | Division of Edward Jones

    "A+ culture for big company"

    5.0
    Former Employee - Financial Advisor 

    I worked at Edward Jones full-time

    Pros

    I can’t speak highly enough of the culture at Edward Jones. It was supportive, encouraging, and competitive in a healthy sense. Our particular region was wonderful, but I felt the Home Office did a really impressive job of maintaining a strong, positive, collaborative and conservative approach as well.

    Cons

    Regulatory changes are always a challenge in the financial services industry. While I appreciated the conservative approach on risk, there was opportunity to be more innovative and offer more to advisors and clients from a technology perspective.

  7. Edward Jones - Branch Office Administrators | Division of Edward Jones
    Helpful (9)

    "I've Never Hated Going To Work So Much"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - BOA Branch Office Administrator 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Edward Jones full-time for less than a year

    Pros

    There are a lot of training modules available, and you are assigned a mentor. Home office associates are helpful.

    Cons

    Each FA can run their offices however they like, to an extent. So there is no consistency across branches for many procedures. This makes it difficult when you ask for help from your mentor, and they do things completely differently than how your FA wants it done. There are no advancement opportunities for BOAs. While you're trying to juggle all of your daily tasks, you also have hours and hours of mandatory training courses to complete. There are typically only 2 people working each office, so if you and the FA don't get along, you're out of luck. The Financial Advisor knows next to NOTHING about your job, so be prepared to spend a TON of time on the phone with Home Office for all of your questions. Some Financial Advisors seem to rely MUCH too heavily on the BOA. It's supposed to be a branch office "team", but it sure feels like a hierarchy. BOAs are not paid what they're worth. This is not just an admin job. You wear a lot of hats as a BOA. BOAs are like office managers/secretaries/business planners/client relation specialists/researchers/event coordinators/meeting facilitators (I'm sure I'm missing some) all in one. Yet, you get paid AND treated like you're a secretary and that's it. Some Financial Advisors expect you to babysit them. Not only do you have to ensure your work is done, but you have to ensure that they're doing their work as well. Not seen as a co-worker by the FA, but more like a subordinate. Not sure how Edward Jones is consistently on the Fortune 100 best places to work. I enjoyed working in fast food more than being in this position. I have gone home and cried on numerous occasions. On Sundays, I always feel extremely negative, anxious, and depressed, because I knew that in less than 24 hours, I'd be back in that branch office. Your work experience here ultimately comes down to the FA you're paired with, so if you're in the application process now, may the odds be ever in your favor.

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  8. "Positive Company Culture with Great Training and CE Programs"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - On-Call Branch Office Administrator in Surprise, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Edward Jones part-time for more than 3 years

    Pros

    -competitive pay and benefits -encouraging and challenging culture -professional and collaborative team -stellar training -great support from Home Office

    Cons

    -work with tight deadlines around holidays -small branch offices

  9. Edward Jones - Branch Office Administrators | Division of Edward Jones
    COVID-19
    Helpful (7)

    "They say they care, but they don't"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Branch Office Administrator 
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Edward Jones full-time for more than 10 years

    Pros

    Some branch offices offer a lot of flexibility, but the job really depends on who you work with. You are working with one person and only one person 40 hours a week. If you get along and have a great relationship, it can be a great job. If you don't... If you can stick around, you can be a limited partner. At least 5 years employed. There can be some good income from that. otherwise, your salary will be low and compared to low banking type jobs.

    Cons

    There is no advancement for Branch office administrators. You can be a "senior" Branch office administrator after 3-5 years, but that's only a raise. You will be doing the same job from the day you start to the day you quit. There is no love or respect for BOA's from the home office or the financial advisors. Many FA's treat you like their personal secretary, no one is really sure what the BOA's role is. Make sure you really like the person you interview with before you accept the role. Changing locations is not easy, and there is a stigma that follows you even if it is the FA who is an unreasonable jerk. Recruiting - They want everyone to recruit new FA's. This will be a fire hose type situation and they expect you to be recruiting 24/7 even though you are paid hourly and BOA's do not receive any type of bonus for referring candidates.

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  10. Edward Jones - Branch Office Administrators | Division of Edward Jones
    Helpful (5)

    "Stay Away"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Branch Office Administrator 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Edward Jones full-time for more than 3 years

    Pros

    Lots of support from Home Office. Learned a lot about the financial industry and developed a lot of administrative skills. Worked in a region with great people.

    Cons

    Heavily mistreated by Associate Relations, as they sided with the Financial Advisor. Although the Financial Advisor yells, micromanages, and displays aggressive behavior with me and clients. They claim to care about you as a firm associate, but their behavior and actions show otherwise. They care more about money over people. The firm expects too much of Branch Office Administrators for what they pay us, without truly listening to what we need and not providing the necessary resources. Also, Home Office provides misinformation and the Branch Office Administrator is blamed for it.

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Found 239 reviews