My story is a familar one here as I've been in financial product marketing for over 10 years and looking to make a change. Since it seemed that most providers do not accept newbies, I applied for Edward Jones and was recently accepted.
Although my background is more so "behind-the-scenes" I did previously work in sales and did fairly well for myself. I'm also quite comfortable speaking in public forums and networking with others.
I've read quite a bit about EDJ here and realize this industry is quite difficult to break into. I also don't feel that those I've interviewed with at EDJ have been dishonest about this either. Both of the reps I've spoken to have said this is a very difficult position. One even questioned why I would want to leave my $82k/year position to pursue this career.
When I ask myself the same question the reason why is because profession is one that I've been wanting to break into but have never been in a position to be able to. Now I'm a bit more comfortable and wish to pursue this path in life. Basically this means I can pay off all of my debts before beginning and*should* be able to live off of what Jones claims I can make the first year.
The way I see it, with the EDJ opportunity I am still an employee but to get myself started I would treat it as if I had just opened my own small business. In other words marketing, advertising, and networking would help to get the word out about my services. Sure there will be intense competition and some limitations on what I can do since I am still employed by a firm, but wouldn't relentless prospecting fill up the pipeline with enough suitable prospects to at least make a decent living? Or is there something else here I am missing?
I sense a very negative outlook from this board from anyone looking to make a career shift into this industry? I can understand the concern that when joining EDJ in particular you must continue to look out for oneself but is this business that impossible to survive in the beginning? Or am I already dillusional and about to embark on a big mistake?
Thanks to all who reply!