Will I FAIL because of the way I look?
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I am interested in working for Edward Jones. I did 2 internships with the company and my old boss is ready to send my paperwork in so that I can get started. I was all set and ready until I started reading the forums and now I have one hesitation. I am an African American and I feel like I may have difficulty door-knocking with people calling the cops and not answering the door as much because of the way I look. I also have the fear that fewer people will do business with me because of those same reasons. I have a degree in Financial Planning, graduated with a 3.6 GPA, and am certified to sit for the CFP. I am confident that I will pass the investment exams but I don't know if I will be able to succeed because of things that are out of my control. I love this profession and love to hustle and will work tirelessly. I need your serious and honest opinions about this. I will be working in an office right outside of Nashville.
You will fail if you don't make more than 100 calls every day. Simple as that. For the next 5 years just do that. Forget about everything else.
Don't join Ed Jones.... I have a much better place for you.... door knocking?? are you selling vacumes?
I figured you wouldn’t get much replies. The industry is like 70-90% white…males. They can’t relate to your situation. I read a recent article that highlighted a study done proving that AA men are held under more scrutiny and criticism than white men for the EXACT SAME work. The study also proved that the higher the education and qualifications held by AA men in this industry, the harder it will be for them, and the more investors judge and discriminate against them. It is what it is.
As far as succeeding with EdJ door knocking while being AA…it’s not as bad as you think. People will be receptive, generally. Some won’t, of course. But you don’t need those who won’t. You don’t need everyone to do business, just someone. So don’t worry too much. Now, I realize that this post is old and things may have changed. Share with us what you decided to do and what the results were. As for everyone else reading who is new, and is AA, not a big problem to worry about. The industry will reward niche focuses more anyway so find your crowd of ideals prospects and clients. Then spend your career working with those people. Good luck!
Stop thinking about everything that you think will cause you to fail. The fail rate in this industry is high enough without race coming into it. Dress for sucess. Act professional. If I have someone looking like a thug walking around my neighborhood (and I don’t care the skin color), I’m more prone to call the police. Someone looking like a professional? No. Not everything is about race.
I know this post is old, but this reply is more for the AA newbies reading up…
To a previously mentioned point, 70-90% of this industry is old white males (and some females) that would like to believe race does not play a big a factor as it does. I currently sit as a Private Banker in one of Merrill’s top-5 producing offices and spend my days talking to fellow AAs that have built respectable books from scratch. I can tell you with no uncertainty that race absolutely does play a role. Defining exactly who you would like to work with and aggressively targeting said group will help to hedge the struggle, but ‘yes’— this is a valid consideration and something to be aware of. Not dwell on or be discouraged by, but do keep in mind.
I would be interested in an update, if you care to share