Edward jones non compete need good thorough advice

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Mar 30, 2011 9:47 am

Edward jones  has their 3 year no leaving and going competitive using your series 7 or insurance licensing. If you leave or quit within the first three years and join a competitor, you would be liable for the 75k reimbursement fee.

Im only 22yrs old. So if I leave now within my first year, will I esentially never be able to go into the insurance or securities industry in my whole life? Not even 5, 10, or 15 yrs from now!?

I feel that Im too young and need more experience before tackling such a career. I feel i should have become a personal banker for a while and moved my way up in the banking industry and become an advisor selling insurance and securities.  That way I would have got sales experience and a more secure job.

Now I feel that I have neither.

What should I do?

please actually answer the questions. Does it last for life??   Where could I go to get proof or understand the contract fully?

Mar 30, 2011 10:20 am

Jones will hold your 7 until it expires more than likely, which will be two years after you leave/get fired.  Then you are free to go where ever you want.  So by the time your 25 (If you seriously think 3 years is going to change you that much) you can get back in.

To understand the contract fully.  Read the d*amn thing.  A lot of it is written in plain English.

**I am not an attorney, and nor should my opinion on the issue be considered legal advice.