Are you a Current or Former Employee? Former job since 2016
Position Management/executive staff
Suggestions for improvement
- Need to control hiring practices. Your training is wonderful but if you are not taking the time nurture and develop new talent you are wasting millions of dollars.
I like about the employer
At its very core, Edward Jones has very strong culture. They know who they are and are not going to bow to pressures of the industry. They have the best training imaginable.
I dislike about the employer
Jones wants you to believe that anyone can do this business. When the truth is there are so many factors that lead to having a successful branch. Right now they are on a hiring spree. They have a goal of 20,000 advisors by 2020 and are moving towards that goal at breakneck speed. This means that in many cases they are overhiring. I was lucky enough to go through their FACD program where I spent 7 months in the home office learning. This is 7 months more than most of the traditional FA's will. It is a job that is trial by fire and if you cannot get your branch going fast you will be fired. The frustrating thing is that often times you will be forced in to an area with many established advisors within Jones, not to mention other competitors. This makes it near impossible to start. You are taught that the Jones method is flawless and if you fail it is because you did not work hard enough. I watched many other new advisors crushed because they felt like they were doing something wrong. One of the gentlemen I worked with that started at the same time as me ended up having to go on food stamps to make sure the could feed his family, all the while working 60 hour work weeks.
Upper management has no clue how to safely and resposibly grow the brand. They have resulted to throwing people in areas hoping that they will be successful without really putting the effort and research to see if they will sustainable and profitable.
On top of that they have loosened their qualifications for hiring. They will hire any Joe Schmo off the street regardless of qualifications as long as he seems personable. This leads to customers not receiving good service and advice.