EJIR interview coming up...

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dehaan2006's picture
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Joined: 2005-12-08

Good afternoon all,

  My interview for an EJIR
position is at the horizon.  I’ve
completed the activity sheet requirement: knocked on enough doors, placed the
appropriate “tick” mark to count each act. 
And… the dreaded, “Do you have any questions for us?” part of the
interview is always the trickiest.  I
want to find out if there are questions that you wished you had the opportunity to ask when applying for a job
as an investment representative.  All
responses are appreciated. 

Much thanks,

 

Dehaan2006

bankrep1's picture
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Joined: 2004-12-02

How can you stick someone in a branch and call them a financial advisor when they have no industry experience, no education regarding investments, taxes or estate planning and sleep at night.  Ask them that.  Share your response herebecuase the last guy I asked that to hung up on me.
I am honestly not trying to be a smart ash.

dehaan2006's picture
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Joined: 2005-12-08

Thanks bankrep1.

I don't think I have the proper set of, shall we say, marbles, to pose
that question to them.  And I think the question will put me in a
very uncomfortable position, shall we say.    And it is
really counter-intuitive for me to take your last sentence as a sincere
remark:  "I am honestly not trying to be a smart ash (sic)."

Although, I can appreciate the point.  I will ask them in a most
tactful way possible- wait on second thought, nah.  Thanks for the
input.  Any other thoughts?

Merci,

dehaan2006

babbling looney's picture
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Joined: 2004-12-02

Well, dehaan, it has been a while since my EDJ interview and you  must know that I am no longer there.  It did seem that the interview questions were more to get you to talk about you and find out about your "inner self" ( I hate that kind of belly button meditation).  What is the greatest challenge you have overcome?.  What are you most proud of?    You know....all the psychobabble stuff. Check it out on the internet and get prepared for those types of questions.
I don't remember the "Do you have any questions for us" part. I think I said "No".   But you might ask them about how much  and in what ways they will support you. This is what they want to hear..... without you sounding needy. Ask them about their stock analyst. They will want to tell you about that.  Anything that will make you seem eager and willing to go forward. Don't ask detailed quesions about commissions or money.  It is too late at this point.
There are a lot of over the top negative Jones people on this board, and I must admit that EDJ is  not on my Christmas card list......but.....Jones is a good place to start your career.
Hope this helped.  Best of luck to you. 
 

Indyone's picture
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Joined: 2005-05-30

Ask them how their fee-based investment program works, what investments are available under it, what the account minimum is, cost to the client, etc.  Even if you don't start out using it, eventually you will want to have a fee-based program to offer to your clients.

Ilovedogs's picture
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Joined: 2005-11-12

One question I have for you is I recently left and how come you "completed the activity sheet requirement: knocked on enough doors, placed the appropriate “tick” mark to count each act." 
I don't remember them having newbies do that even before they interview. Huh?
 

dollarbills's picture
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Joined: 2005-12-14

Dehaan
I am currently at EDJ and I think that you can not ask for a better place to get started with a career in the investments business.  EDJ face to face interview will be more open ended questions about specific situations.  So really think about what motivates you and all the different experiences that you have had in your life.
As for the comments on Fee based planning:  I too would like to have this as a part of my business, and have the range to offer different products.  Which is why I am checking out all of my options.  But when you are starting out in this business, it would be extremly hard to start with a fee based platform.
As for the Bank Rep:  I am not for sure why you make the comment about sticking guys(gals) with no experience in the branches and how people at jones feel about that.  My question for you would be how did you get started?  Who taught you?  Does the bank business really even train people?  I love it when prospects come in to my office that are bank clients.  Easy to turn into my clients(with or without fee based).
Not trying to be a smart ash, but I have yet to see many bank broker that I am impressed with.
 

noggin's picture
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Joined: 2004-11-30

The question I would have is are mentors available and how is one chosen? EDJ is a great place to start a career, whether one stays or not is ultimately up to them.

BrokerRecruit's picture
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Joined: 2005-04-19

dollarbills,
Why is a fee-based program bad to start out with?  Seems to me that it is the way the industry is evolving. 

dehaan2006's picture
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Joined: 2005-12-08

Good morning (Pacific Time),

  I just got in- and from
everyone’s responses I have gathered a list of very insightful questions I can ask the intervier.  Particularly:

babbling…  I will prepare myself for those psychological
questions.  I’ll also ask about their
level of support when starting out. 
Lastly, I’ll prod them with questions about stock analysts.  Thank you for the topics/ ideas.

Indyone, if the
tone and tempo of the interview allows for it, I’ll for sure see if they have
good fee-based investment programs and continue on with the investments/ products
available.  I think asking about specific
investments will show whole-hearted interest from my part.  Thanks.

Ilovedogs, The
activity sheet I mentioned was part of a packet they e-mailed me.  I imagine that they have all potential EJIR
candidates accomplish this activity in order to expose them to the “day-to-day
realities” of knocking on doors to propsect/ make contacts. 
Which, I think, is not a bad idea. 
With the sometimes bizarre interactions I had at some folks’ front door,
the different situational experiences gave me a good taste of what to
expect in this career. 

Dollarbills, I
will anticipate the “what motivates you?” questions.  I have a few topics to briefly discuss.  And of course, I’ll stay away from the cliché
drivel (i.e a strong sense of drive and spirit, a self-motivated and ambitious
determination, etc.).  Thanks for the
angle.  By the way, how long have you
been with EJ?  How do you like it so
far? 

noggin,  Good point on the availability of mentors to
help me.  I will surely ask them how an
EJ mentor is chosen as well.  Thank you
for the insight.

And to all who have found the time and patience to read
about my inquiries- thank you for reading my questions/ posts.  I imagine we all have busy schedules- so I
appreciate the responses and want to extend my gratitude.  Wish me luck in my interview!  More to come. 

Merry Christmas to all,

Dehaan2006

BrokerRecruit's picture
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Joined: 2005-04-19

Dehaan,
You will find that EDJ does have a very strong training program.  However, be sure to ask about the fee-based platform, since this is quickly becoming a very strong and growing vehicle to utilize in the business.  EDJ's fee-based program, from my understanding, requires a min. of $500k to invest in.  Most, if not all, other firms will allow virtually any amount invested in this program.  Very little will you see minimums.

dehaan2006's picture
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Joined: 2005-12-08

Broker recruit and SonnyClips-

  Thank you so much for the added dimension.  I will surely
ask the EJ interviewer about the fee-based program with EJ and how EJ
is handling this trend.  Thanks also for the $$ amount min to
invest for this program with EJ.  Their response to this question
will help me get a good perspective on how EJ is able to adjust with
clients' and IR's desire for for such programs. 

  SonnyClips- my experience with the door knocking was a genuine
swift kick in the pants.  When someone seemed irate I bothered
them, I immediately felt like I was a rude bastard.  The only
elixir was the warm and welcoming smile from a more "open-minded"
prospect who was was eager to give me their contact information. 
Go figure. 
 
  From your suggestions, I will seek out those vets with nuggets
of info from their own flavor of being out prospecting.  And
speaking of asses and education; I'd like to bust mine in order to
better inform myself of this career.  At the same time, the
"goodnight" program maybe something more appropriate for those who've
already had more years under their belt.  And since I am basically
green; I would be slightly uncomfortable handling $$ from those who
have already formed a steady relationship with another more seasoned
IR.  In any case, thanks for your ideas. I will include them in my
preparetion for my interview.  It's coming up fast! 

Much thanks to you both,

Dehaan2006

exEJIR's picture
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Joined: 2005-05-12

dehaan,
There is also a goodknight program called "goodknight from afar".  It is typically where an existing IR is wanting to relocate his office, and will spin off assets (leave in office) to a new IR who takes over the old office.
And, if the person interviewing you is a bigger producer, you can put a bug in their ear that you would be more than willing to take over any accts that he may have "outgrown".  (Two-fold purpose:  allows you to start with something & allows him to concentrate on the accts that make him money)  It also shows that you are not afraid to "ask for the order".
Good Luck!
 

dehaan2006's picture
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Joined: 2005-12-08

ExEJIR,

  Inquiring about "goodknight from afar" sounds like a potential
strategy I may need to use.  Nothing like providing a service to
those accounts one has "outgrown".  I'll make sure to put my
suggestions lightly and from the other's perspective which will allow
him to "concentrate on the accts that make him oney".  Thanks for
that.  In fact I think that what you said is brilliant! 
There is a growing number of retirees w/in 20 miles of my geographic
are of interest.  I'msure there will be some ready to be handed
off.  And the two fold purpose will surely put me in a good
light.  Thanks again.

SonnyClips,

  Your words of encouragement have not fallen on deaf ears. 
And yes, I have a long road ahead- and it's not the "fear of challenge"
that is holding me back.  To be more precise, it is the universal
"fear of uncertainty".  Which I imagine we all have when starting
a new career.  On the other hand, upping the ante does require
some big, bright, brass ones (which currently I am busily
buffing).  And I will internalize your suggestion: "Humility has
its place..."  My concern:  It is the degree of uncertainty
and the proper size of my internal fortitude (see brass ones above)
that is a bit tricky to match.  And yes it is my career, and the
best way to grow/ nurture it is to continually raise the bar. 
That, Mr. Clips, is what I am prepared to do.  Again, thanks for
the words of encouragement.  More news to come.

Sincerely,

Dehaan2006

Duke#1's picture
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Joined: 2004-12-06

Dehaan, re your comment about door-knocking and encountering someone rude and then find someone open to listening -- that reminds me of a comment I heard made by a sales trainer many years ago as he was talking to a class of rookies about cold-calling. 
He said something to the effect that if it takes, say, 100 contacts to come up with one interested prospect, then every time you get a "no" take that as a positive thing.  Thank the prospect, hang up, mark him off the list, feel good about it, and dial again.  That "no" meant that's one less of the 99 cold call people to talk with until you get to the "yes" prospect.  You now have only 98 more "no's" to go!  Essentially, he was planting the seed that getting all the "no's" is good, and you have to get through them to get the "yes".
Sort of corny, but it does put a more positive slant on cold-calling or door-knocking.

noggin's picture
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Joined: 2004-11-30

Dehaan- Good luck to you on your interview. If I were to start over I would DEFINITELY look at Goodknight possibilities. They won't be discussed in your interview probably but if you were to go meet all of the EdJones people in your area that would definitely be a good thing. Note: Always dress professionally. If you want to talk to an Jones person and get their take PM me and I will be glad to discuss with you.

BrokerRecruit's picture
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Joined: 2005-04-19

Dehann-talk to noggin.  You'll find it helpful.

blarmston's picture
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Joined: 2005-02-26

"Dehaan, re your comment about door-knocking and encountering someone rude and then find someone open to listening -- that reminds me of a comment I heard made by a sales trainer many years ago as he was talking to a class of rookies about cold-calling.  He said something to the effect that if it takes, say, 100 contacts to come up with one interested prospect, then every time you get a "no" take that as a positive thing.  Thank the prospect, hang up, mark him off the list, feel good about it, and dial again.  That "no" meant that's one less of the 99 cold call people to talk with until you get to the "yes" prospect.  You now have only 98 more "no's" to go!  Essentially, he was planting the seed that getting all the "no's" is good, and you have to get through them to get the "yes".Sort of corny, but it does put a more positive slant on cold-calling or door-knock."
Thats good, realistic advice. I cannot tell you how many times I have been abused on the phones. But mentally its all worth it when you connect with that interested prospect and they are receptive to your spiel. I make it a point to develop one SOLID lead per day. In solid I mean an egaging conversation with a firm commitment to either a meeting or the prospect agreeing to send info on their current accounts or strategy.
The same view can be made towards cold walking as well.
I had a buddy who used to say that it wasnt personal and that 100 NO's and F- off's didnt affect him because he wasnt going to let that stop him from succeeding. I have since left that firm but have heard that he is KILLING it now- mostly due to having that sort of mentality.

blarmston's picture
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Joined: 2005-02-26

"I make it a point to develop one SOLID lead per day"
Another goal is to develop 3 contacts per day. Meaning the prospect has offerred some information, has requested info, or requested that I contact him at some point in the near future. By focusing on this strategy the past 6 months, I have about 80-100 prospects that are EXPECTING my call in early January and intend on at least meeting for 30 minutes. Event though December has been relatively slow, 1Q2006 looks very promising. 

Ilovedogs's picture
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Joined: 2005-11-12

I am truly curious.....am I understanding you right that you have to do a "survey" before you even have a face to face interview with EJ?  I knew they were making those studying for the Series 7 do doorknocking, but if this is true, what a crock!  Before you even know you are hired, you are doing work for them by do their market research for free?!?!?

ThinkingAboutIt's picture
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Joined: 2005-10-10

I love dogs-
EJ does not "take" the information from survey and "use" it. It is simply an exercise for a interviewee to understand what they will be doing once they start. I just finished my surveys a few weeks ago. I would say it is a great idea. It gave me a pretty good picture of what my life is going to be for the forseeable future. EJ was not interested in the survey results in themselves. They wanted to see that I could knock on doors and have conversations, and ask questions to people.
 

exEJIR's picture
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Joined: 2005-05-12

Maybe EDJ should just go straight for the Morman's.  They have great door-knocking experience, and are used to having the door slammed in their face.
 

exEJIR's picture
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Joined: 2005-05-12

... Oh crap, did I just say that?... 
Sorry, I was just thinking aloud.

 

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