Edward Jones training
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I have read over this post several times. Does it not seem odd that you took a job with a firm and know absolutely NOTHING about its requirements or what you will be doing with Edward Jones? Did you not do any research and ask any questions???
Ilovedogs,
Is your reply aimed at me?? Because of it is you are way off. I have done more research on the company and have asked more questions than your average applicant. Reason I am asking all of these questions is because its nice to get feedback from FA’s that have been there for 10 yrs, 3 yrs and 8 months. I am a true believer that to be the best at something you have to seek advice from different channels (i.e. peers, trade magazines, forums etc…).
If you took my questions as me being clueless then I would have to say you need to go back and re-evaluate your post as my motives for being on here went over your head.
From your response to my post, you will be a perfect fit to EJ. I was simply responding to your post asking very, very basic questions about being an Edward Jones FA and the fact that most of your questions you should already know the answer to before even agreeing to work for them. You are already in the EJ mode with your nasty response!
Obviously Ilovedogs, you are a bitter person. Not sure if it is because you have failed in this industry or just not what you expected it to be. It is a very simple concept that I am trying to explain…reason for the questions (mainly about compensation) is that I want to know first hand from other FA’s from around the country some of the pains they went through their first years.
Why are you assuming what type of person I am or what type of research/questions I asked? Just curious to find out where your nasty response came from?
bank,
You are the perfect EDJ fit. Just like most other EDJ poster-children here, as soon as someone questions your intentions, you throw out the, "you must have failed in the industry" quote. Now I do agree that doggy there was a little nasty in his response and he's probably just trying to get a rise out of you, which he did, but the ol' you must have failed comment is way off base especially for someone who hasn't even passed his series 7 as of yet. Just so you'll know, most of us folks who left EDJ did so because we could be more successful elsewhere. Good luck, EDJ has a great initial training program, but then you'll discover that there is so much more available and you may even decide to move on as well. If you do, good luck on that as well!Free,
I appreciate the post. I agree with you 100% that if you’re better off moving on to another institution then why not make the move especially if more money is involved. I really did not try to come off as a cocky a-hole…just kind of shocked that someone frowns upon (or thinks I’m clueless) the fact that I come on here to try to get info and advice from others not only at EJ but from others that work in the industry.
How long have you been in the industry if you don’t mind me asking? What got you interested in this field? Any advice for a newbie like myself that is new to the industry?
Thanks Free.
Bankroll
Bank,
I've been in the industry 5 years and had my best year ever last year. I made $80 - $90K more than any of my friends who are still at Jones with the same amount of time in made. I got into the business because I enjoy the investment aspect of it and enjoy helping folks figure out what they need to do. It has it's ups and downs but no more than any other job. As far as advice goes, I'll probably get slammed by the pro-Jones crowd when I say don't swallow everything Jones feeds you. I did for four years and it finally hit me one day at one of the infamous summer regional meetings that the guys who were finally netting $100K for the first time had all been with Jones for 8 - 12 years. Amazingly enough, three of those $100K producers left Jones three weeks after I did. I am thankful that Jones hired me and trained me and I repaid them by honoring the contract I had signed. I do not appreciate all of the "we are better than all others" crap that flows so freely in St Louis when you go there for training, but it never really hit home until I became one of the "all others". Take the Jones training and build YOUR business, but realize that it is your business and don't let Jones tell you otherwise. If the clients you gain hire YOU and not Jones, they'll always be yours, even when you leave the green mothership. You'll hear all sorts of great stories about success in Jones, but realize, it just like any one else trying to sell you their company. Jones is not better than all others but there are some great Jones advisors out there and there are some bums. Good luck!![quote=skippy]Did you know that if you go to an INVESTMENT firm to do INSURANCE, that you’re an idiot?
You should compare the compensation of your insurance production from Edward Jones to the compensation of a large mutual (NYL, MM, NML) and see which would make more sense to do where. And just because "a" Met wholesaler said something... doesn't make it true. My info comes from common sense. I'd put a career life insurance agent who's been around over 5 years against the TOP producing EJ insurance producer anyday and see who would come out on top in terms of production and total personal earnings. I've never heard of an EJ FA reaching MDRT TOT, COT or just standard membership status. There's probably a reason why that is. Perhaps you should ask your Met wholesaler?[/quote] You are right (OK, not the part about me being an idiot ). I did not mean to suggest the guys focused on insurance should go to Jones (or any investment firm). My point was that there are a lot of advisors at Jones that do a lot of insurance (compared to other investment firms, not GA's). And the info from the wholesaler was actual literature that ranked all the firms by production - it was not just his "word". Yes, I am smart enough to not believe everything a salesman tells me.Got it. I actually don't use Met much. And yes, I don't believe everything salesmen tell me. What I saw was actual literature. Not a big deal. I was not trying to go pro-Jones or anything. I know where that gets me (cough-cough-SPIFF--cough-cough).[quote=Broker24]
Huh? Do you know that EDJ is the largest insurance producer of all major brokerage firms? That does not come from Jones - that came from a Met wholesaler. Not sure where you get your info. Most Jones advisors do quite a bit of life and LTC.[/quote]
I bet he also told you the MetLife products are the best available for you.
Really, broker24 - I’m sure you are astute enough to take what a wholesaler might say with an appropriate grain of salt. Have you ever heard a wholesaler tell you your firm (generically speaking, not EDJ specifically) wasn’t the best in whatever way? I haven’t.
I’m starting my 7th year with Jones and will say that years 2 and 3 were definitely the most difficult. It would have been nice to have the “new bonus system” in place when I started.
Freefromjones,
No doubt about it that they will tell me that they are the best and what not…if they don’t feel passionate about the company I would have second thoughts. It is up to the individual to buy into the system and each has to decide if a certain culture fits into what they are looking for. Obviously Jones wasn’t for you and there is nothing wrong with that…you are better off then you were with Jones…can’t knock someone for thinking about themselves and family.
As for myself, I know one thing…I am very passionate about investing and my financial wellbeing. I have never worked in the industry but I have always said since a freshman in college that I want to work in this industry. I busted my ass in college I have busted my ass in the position I am now and will continue to push till I get to the point where I am happy financially.
Thanks for the response and good luck to you with your future en devours.
Bankroll
I have never had Jones pple knocking on my door. What do you wear when door knocking? Also I imagine if u knock in the daytime all u find are housewives while the breadwinner works. I wanna try out but it doesnt seem that “optimistic” for lack of a better word.
Also Canadians…I’m vacationing in Europe but whats first yr salary for Jones?
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k
[quote=Borker Boy]
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k[/quote]
I think maybe Borker was just kidding Ms. Obama.
[quote=mrsobama] [quote=Borker Boy]
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k[/quote]
I think maybe Borker was just kidding Ms. Obama.[/quote]
LOL!! Missed the sarcasm!
Hey everyone. Thank you for the great info. Does Edward Jones pay us while we study for our exams? If so, I'm sure it's very little but I just didn't know if we were compensated at all during our studying time or not. Thanks in advance!