Edward Jones
3.8 out of 5 stars.
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3.7Work-life balance

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Good company but people made it a toxic environment

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Toxic leadership, where the general partner outright lies and favours certain individuals. You are made to feel insecure and this individual plays on your fear. Frames you in a way that furthers this individuals career. I wouldn’t recommend working here unless it’s a low level position where you generally would not be subjected to this type of treatment. HR dept didn’t take any action even with witnesses and proof of conduct.

Pros

Company helps clients

Cons

Toxic leadership
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Unfair to the employees

Voices are not being heard in the company. Once you leave the firm, no one bothers to solve your issues. Even though the company said the employees are partners, that is not true in reality. Every position works 40 hours per week, and only my role is 35 hours per week.

Pros

One day of personal day

Cons

Bonuses are not paid according to performance, They are paid according to the generosity of your financial advisor
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It’s all about sales.

Hard sales targets. If you do not hit your sales target you have four months notice to remedy. If you don’t meet target you are terminated no questions asked.

Pros

Flexible work hours

Cons

Long hours. Total focus on sales. No credit for client service or retention.
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They did not value community volunteer work.

In fact I was scolded for missing a prospecting meeting because I had already committed to coaching two local minor hockey teams in a year end tournament.

Pros

Limitless earning potential

Cons

Long hours, management with an iron fist.
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Good place to work for, if you get placed with a nice FA.

I enjoyed my job, worked there for almost 5 years. You just have to make sure you do your research on the FA you will be working for. I was blessed with a wonderful boss, however they are not all like that. The support head office offers you is unlike any company I've worked for! It was excellent and I never felt like I didn't know what to do. My only thing, BOAs need to get paid more, they pretty much run the office. They need to be appreciated.

Pros

Work support

Cons

Bad pay
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They did not value community volunteer work.

In fact I was scolded for missing a prospecting meeting because I had already committed to coaching two local minor hockey teams in a year end tournament.

Pros

Limitless earning potential

Cons

Long hours, management with an iron fist.
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They don’t walk their talk

Lots of things are promised, not much was delivered. They are way behind with technology and have an old school way of thinking. If you don’t live close to an already established advisors office you’re completely forgotten about and don’t matter. Systems hardly work (technology) so that can be frustrating and it takes way too long to get fixed. Example: If your printer won’t print from the mainframe for months on end it’s apparently not a big deal.Positive is that if you are an established advisor elsewhere they will gladly take you on. They do pay for your licenses so that’s nice too. They have some team building stuff, that’s always good. And most other advisors are nice and helpful.

Pros

Friendly employees

Cons

Not much support when you don’t fit into a certain box
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Always under stress, no identified measures

Unsecured job, lots of stress, completely unsecured job could be kicked out at anytime without any explanation.At my time 28 new candidates were accepted and in one year only 8 were left
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Industry leader with integrity.

If you are looking for a top employer (refer to Fortune Magazine ranked #7) and top spot for clients (JD Power agrees 8yrs in a row) this is it! Great client focus and strong leadership at a firm managing over $1.3Trillion in AUM. Culture and history make this place VERY different vs a bank. Talk to any successful Advisor here and you will learn what differentiates the successful fromunsuccessful. For the benefit of investors, yes it does take a disciplined, hard worker and thoughtful approach to attract clients. If you are interested as a future associate or client spend time learning why its such a great spot. You owe it to yourself and those you care about (existing and future clients).

Pros

Support, Mentoring, Size, Reputation
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Good place if you can hustle 24/7 in the first 5 yrs

Great pay structure if you are starting as a new broker with salary in thr first 3 yrs to help you grow Very hard to grow when you have no previous experience in investment industry. Coaches are great from your peers to head office supporting you on finding clients, helping meet client needs and investment knowledge

Pros

Very good pay if you are investment banking experienced

Cons

Very hard to survive first 3 years
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Overall well

The management of the company is fantastic. Great work culture, games, regional events and awards. Relaxed atmosphere and great work/like de balance.

Pros

Great benefits and work-life balance, fun work culture

Cons

Some financial advisors do not value the BOA or support from HQ
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Working in silos leaves much to be desired

There is little (if any) collaboration to be found at Edward Jones. If you work for the Canadian team, direction and leadership are weak and you can expect to do everything the U.S. team tells you to. Unfortunately, the ideas and initiatives that work sound of the border do not always work in Canada. Moreover, there seems to be quite an opportunistic approach to getting leads on business ($$$), which often makes employees feel as though they're surrounded by vultures.

Pros

Salary

Cons

Extremely long hours (mandated by the U.S.)
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Hard no

The financial manager I worked for was Openly judgemental about my personal life and made me feel very u comfortable. The administration Of the office was difficult to work with and the overall culture was caddy.
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Your job is to make money for the partners in this firm

If a customer makes an investment (which is the only way that you make money, there is no salary) the firm will be paid between 1-3% of the total amount invested. Within a couple of years you will be expected to make $60,000 or more in commissions every month to keep your job. Do the math, it's an insane number for a dying industry. You will receive 40%of that amount, less any taxes and benefits. You will be responsible for everything at the branch level and they will be responsible for nothing. Every Jones broker is fighting to keep their job with the firm. The business model is to use employees as prospecting tools for assets to be invested. When you quit (which you will, eventually, don't kid yourself) the clients are theirs. Not yours. The"diversification rips" that they love to tout are "earned" with a staggering amount production of their customers money going to Jones so that they can reward you with a fund company kickback (no other way to describe it) so that you can then be marketed to by them in some exotic location. Please buy our fund/insurance etc. At tax time each one will cost you a lot. When I finally quit I was on the brink of financial ruin, my health was horrible and my wife was ready to take the kids and leave 5 years later we have finally recovered from the catastrophe that was Edward Jones. If you are a good sales person, find a real company that makes real money that they can pay you for your talents with. Don't work for a company that doesn't care if your family starves to death or not.

Pros

Sales Training

Cons

Everything else
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Slave to your FA

As a Business Office Administrator, BOA, you work in a small office branch and report to your FA. Although you are trained to believe that you a valued in Edward Jones, HR only cares about the FA. If the FA makes IIROC violations or other violations, and you report your FA to your HR or compliance department, they will do everything to protect the FA. In the end, you would have only damaged your relationship with the FA, who can have HR fire you easily. There is a high turnover rate for BOAs. Most that stay are older women with no higher education, are scared to speak up for themselves, and need the money to pay the bills. Edward Jones salary increases are non existent practically. They do not increase for inflation every year, except this year where they increased our salary's by 2%. As for annual review increases, it is entirely up to the FA to rate you. There is no Edward Jones standard of what is meeting, exceeding or outstanding performance. It is up to the FA to decide, and even if they decide to give you outstanding the most raise you can receive is 3%. If your branch is profitable, which in Toronto typically requires 30k gross revenue income, then the branch is eligible to profit sharing. Again, it is up to the FA to decide how much if any of that profit is allocated to the BOA. Training is pitiful. You will maybe get 1 day working with an actual BOA. They will make you look at lots and lots of basic slides and answer 5-6 question multiple choice questions. Most of your training will come from calling home office and asking how it is done, and they will - 
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Door Knocking Job

The main metric of success when you're starting out is door-knocking. If you don't door knock, it is tough to get started. A typical work day at the beginning includes 6 hours of door knocking, and +3 hours of appointments. Then it sways the otherway, 6 hours of appointments and +3 hours of door knocking.
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Great Career but you need to work hard.

Team environment, company has a great culture. Small office environment. You are your own manager. work hard and the rewards are very beneficial to your career.
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It is an different type of financial services office with some good and some negative qualities.

They offer a convenient location across Canada in your community. They offer access to many products but not all products. They would be similar to the banks.
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A wonderful Company to work in

A very professional and fast paced environment to work in. A lot of support provided if needed. A lot of opportunity to move ahead with in the company.

Pros

lunches and get together's
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this is not a job this is a business opp

you are starting a business not getting a job. they ease you into it but if you cannot keep up with the physical (days of walking) and have a marketing plan (who you will target) or have an ethnic group that you can work with, then it will not work out. Financial advising is much more about constantly selling as opposed to actual advising. You ultimately have to Kill to eat.

Pros

good small business startup process

Cons

long hours, and ultimately on your own'ish
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Independent Work Environment

This position requires an individual that is capable of working alone. You will be in an office with only you and the Financial Advisor, and 70% off the times the advisor will be at meetings or looking for prospects.
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Overall rating

3.8

Based on 1,817 reviews
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Ratings by category

3.7Work/Life Balance
3.5Salary/Benefits
3.2Job security/advancement
3.4Management
3.7Culture

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