Considering working for Edward Jones...

[donjuan69]

Hi everyone:

Need your help here. Has anyone had any experience or any knowledge of what it's like to work for Edward Jones? Thought it might be a good place to work as we come out of the recession.... Info would be sincerely appreciated. Feel free to send me a PM.

 

[ang]

I knew someone that worked for them, they let him go bc he wasn't bringing in high net worth clients (they have a quota for your sales), you are on salary for the first little while, then strictly commission), there are other companies out there that have better standards than that...Good luck

 

[keepmovingforward]

imagine this, you will be given a list of names in a certain geographical area or segment and you'll need to cold call them. imagine "pursuit of happiness" and its basically the job. its nothing glorious but can be lucrative. but like anything that can be lucrative it is a lot of work. unless your one of those lucky people who know a lot of people who trust you and that those people make a lot of money.

 

[oldjones]

Poor guy who said he just started at the storfront round the corner was going door to door on my street yesterday.

Enterprising and tough, but hardly high finance.

 

[keepmovingforward]

Poor guy who said he just started at the storfront round the corner was going door to door on my street yesterday.

Enterprising and tough, but hardly high finance.

yeap..that's what they do. they get a list of an area that is theres....and they just go for that whole area...door to door...cold call...w/e. and i hear the door to door thing is something they do more now because the cold calling thing is really not as effective as it use to be.

 

[ang]

I hate cold callers (sorry)...but that is exactly what they are "cold"...friends of ours years ago had a 1lb baby, and was in the birth announcements, do you believe he actually called them to start up an education fund for the baby!!!...get a life

 

[squash500]

IMHO at least the advisors at Edward Jones are for the most part licensed to sell both ETFS and stocks as well as mutual funds etc.

However let's say you wanted to buy 200 shares of the xiu at $15 for a $3000 outlay.

If you do it yourself through a discount brokerage you would pay only a $9.99 commission to buy the 200 shares of stock. As well as paying a $9.99 commission when you want to sell the xiu etf.

If you bought the 200 shares of xiu through an Edward Jones advisor you would wind up paying a $300 commission to buy and a $300 commission to sell . That's how EJ advisors make all their money.

I think I'll continue to buy etfs through my discount brokerage account thank you very much!

 

[moresex4me]

One thing with Edward Jones, they own your client list and if you leave them for whatever reason, you cannot take any of your clients. It's part of the job contract you sign when you start. So any friends/family that join you there, you've basically lost them if you leave.

 

[Tee11]

Hi everyone:

Need your help here. Has anyone had any experience or any knowledge of what it's like to work for Edward Jones? Thought it might be a good place to work as we come out of the recession.... Info would be sincerely appreciated. Feel free to send me a PM.

Don't do it. All you will acheive is lose all your freinds and make no money.
Don't do it.

 

[donjuan69]

Thanks everyone for your comments.

Was giving serious consideration to going with Edward Jones.

I'm currently working in a sales position that will pay approximately $65k.

Just started, but I guess I would only consider moving to Edward Jones if I was let go (didn't pass the probation period).

The Edward Jones recruiter thought I was out of work and was surprised to hear otherwise. Apparently, they had picked up my info from Workopolis.

Life is tough....