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Started By
Message
Any Edward Jones FA's in here?
Posted on 2/27/13 at 10:05 pm
Posted on 2/27/13 at 10:05 pm
I am currently working through their interview process. I would like to get feedback, pros/cons about the position. I am getting mixed reviews off of indeed forums and glassdoor reviews. any insight is appreciated.
4
Posted on 2/27/13 at 10:18 pm to mandevilletiger34
they don't last long round here
Posted on 2/27/13 at 10:24 pm to mandevilletiger34
I'm meh about them. Sure you could make a good living, but the money boarders aren't big fans, as far as I know.
Posted on 2/27/13 at 11:41 pm to donRANDOMnumbers
quote:
the money boarders aren't big fans, as far as I know.
More or less. The thinking is (and mine as well) that EJ advisors (and Amex advisors, etc.) basically don't give you horrible advice, but merely overly expensive advice. Personal finance really isn't all that complicated for most people.
Think about it this way - if you are going through a course that only lasts a couple of weeks, how hard can it be?
On top of that, most advisors will steer clients into funds that have much higher fees than necessary. How many EJ funds regularly beat Vanguard index funds after fees are deducted? Right, I thought so.
That said, there can be benefits. A good financial advisor will understand how to work with tax laws, estate planning, insurance, etc. That is worth something.
Posted on 2/28/13 at 4:50 am to foshizzle
quote:
That said, there can be benefits. A good financial advisor will understand how to work with tax laws, estate planning, insurance, etc. That is worth something.
I am looking at making a complete career change. I am currently a construction professional, previously owned a couple of businesses before the real estate crash. I am looking at making a move into this field . I plan on my next move being permanent. I have heard some pie in the sky stories and I have heard some horror stories. Can I make a decent living and support and enjoy time with my family with this career or is it truly a knock on door 12hr a day job with a home office that pushes the sell sell sell motto down your throat all day.
Posted on 2/28/13 at 6:27 am to mandevilletiger34
quote:
Can I make a decent living and support and enjoy time with my family with this career or is it truly a knock on door 12hr a day job with a home office that pushes the sell sell sell motto down your throat all day.
Probably closer to this. You will be overworked and underpaid at the beginning and underworked and overpaid later if you are able to build a book. My biggest problem with EJ is the crap funds they make their guys push and pay foreplay attitude. Buy the book lies about money and read the section that list all the fines paid by investment firms, you will freak when you see how many times EJ is listed.
Posted on 2/28/13 at 6:56 am to Janky
quote:
My biggest problem with EJ is the crap funds they make their guys push and pay foreplay attitude. Buy the book lies about money and read the section that list all the fines paid by investment firms, you will freak when you see how many times EJ is listed.
^^^This.
Their product is shite, it's not even close to competitive, and you'll have to spin a web of deception to sell to savvy fund investors, not a good way to build a reputation in the financial industry. Unfortunately, I'm convinced EJ is focused solely on sales, and not at all focused on making a better product.
Posted on 2/28/13 at 7:19 am to Vols&Shaft83
My wife was an Edward Jones Advisor before I met her. She did it for 3 years. She said the first year was the worst because you don't really have an office, and you have to go door to door asking for business. When you do meet a client you have to do it in their home or borrow another Edward Jones Advisors office.
She liked the job, but didn't like the uncertainty of the income....especially when she was a single woman, now she is back into a field that she enjoys and makes 6 figures every year. If you are married and can manage it for a few years it can be a good job once you grow your book of business. She still has a few friends that do it, and they do pretty well. If you are one of the top reps they do great trips...wife went to Hawaii, and one of her friends just got back from Fiji.
She liked the job, but didn't like the uncertainty of the income....especially when she was a single woman, now she is back into a field that she enjoys and makes 6 figures every year. If you are married and can manage it for a few years it can be a good job once you grow your book of business. She still has a few friends that do it, and they do pretty well. If you are one of the top reps they do great trips...wife went to Hawaii, and one of her friends just got back from Fiji.
Posted on 2/28/13 at 7:57 am to Kingwood Tiger
I am not a huge fan of the knocking on the door, but u there us a light at the end if the tunnel I can manage throgh it. I am currently in a position with no intellectual stimulation or customer interaction. I used to build houses and loved working with the couples building them. I am not a car salesman type but and honest tell you how it is type. I like the ej opportunity because I am not a finance/Econ major but like the idea of working with people to help them save for their childrens education or some type of retirement. I ve had ups an downs financially but want people to realize because they don't have a huge stash of money does not mean they can not afford an education or retirement. It just may take some time and extra effort.
Posted on 2/28/13 at 8:13 am to mandevilletiger34
Let me ask you a question and please answer it honestly. With no financial background and only a series 7 under your belt, would you give you your money to invest for you? In my opinion, if you wnat to get in to the business, go to a bank.
Posted on 2/28/13 at 12:24 pm to Janky
I don't intend to start selling on my own right away. I know there is extensive training they go through and then do some understudy with a local office. I personally would rather have someone I trust and can have a good relationship with handle my money. I have talked to a few banks, but in my mid 30 s with 4 children and the only $$ provider, ej offers a much better oppurtumity financially than a bank can from what I have found out.
Posted on 2/28/13 at 12:51 pm to mandevilletiger34
Where are you located? I might be able to put you in contact with another firm.
Posted on 2/28/13 at 1:54 pm to mandevilletiger34
quote:
but in my mid 30 s with 4 children and the only $$ provider
This is a recipe for disaster. Trust me.
Posted on 2/28/13 at 2:07 pm to mandevilletiger34
quote:
construction professional,
I was a residential builder.
quote:
mandevilletiger34
in Mandeville. Got out in 2000. I'm thinking this just may be the time to ease back in, not get out.
You do need to stay small and lean.
Here's a thought to supplement your income (assuming you're knowledgable with west St. Tammany subs):
All those homes built in the 70's - '00s need work, not necessarily totally remodeled (though they could use that as well). Offer yourself to do a 2 hour consult with a homeowner for $150. From here, you will connect them with the necessary remodel-type sub they need AND tell them what to expect and what to expect to pay .. yes, plumbers cost that much. Often they could manage the job themselves with a little direction, sometimes they will need a contractor.
If I still lived in CovLA, I'd look at doing this.
A man could make a living just in Beau Chene and Tchefuncta Estates.
Posted on 2/28/13 at 3:44 pm to mandevilletiger34
Like others have said, it's a huge risk, with an equally huge reward.
I personally wouldn't recommend it, but to each his own. It's a sales job more than anything, so if you can't see yourself as a salesman, then I'd strongly advise against it.
As far as the firm itself, EJ is good firm. But the odds are stacked against you in terms of being successful in the longrun.
I personally wouldn't recommend it, but to each his own. It's a sales job more than anything, so if you can't see yourself as a salesman, then I'd strongly advise against it.
As far as the firm itself, EJ is good firm. But the odds are stacked against you in terms of being successful in the longrun.
Posted on 2/28/13 at 4:03 pm to mandevilletiger34
How do you plan to sell just the funds and services they push regardless of performance/cost? The loads? Annual fees? Expense ratios? high commissions for a brokerage account? no online trading? Having to call a broker to place a trade like back in the 90's? How will you sell that?
Ask yourself that and you will then have your answer.
Ask yourself that and you will then have your answer.
Posted on 2/28/13 at 4:41 pm to Fat Bastard
I have 500 clients. They all still love to call their broker. I wouldn't get wrapped up into that aspect of it. Customers are there. He can't do anything outside of working for EDJ when he signs on. Nothing.
Posted on 2/28/13 at 5:31 pm to Vols&Shaft83
quote:
Where are you located? I might be able to put you in contact with another firm.
I'm in Mandeville, but looking from Hammond to Slidell
Posted on 2/28/13 at 5:35 pm to Fat Man
quote:
I was a residential builder.
quote:
mandevilletiger34
in Mandeville.
Have a feeling we probably know each other somehow!
Can you email me? I have a few questions I want to ask...I like your consulting idea and have thought about that idea before.
tigertail34@excite.com
Posted on 2/28/13 at 5:35 pm to Broke
quote:
He can't do anything outside of working for EDJ when he signs on. Nothing.
Please explain in more detail
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