Edward jones - scattered

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Jul 28, 2006 3:32 pm

I'm digging a little deeper into EJ before I move to far into the process. I'm up for a phone interview.

I would like to make an informed decision about pursing this.

All the posts about EJ seem to be scattered. I see mixed sentiment about working with EJ but mostly negative.

I'm looking for some to offer some concise, "factual" thoughts about working for EJ. Some pros and cons would be great.

Not so much about being an IR but more about the Edward Jones saga.


Jul 28, 2006 3:53 pm

I’m sorry, but I can’t believe that you actually need to research this any further given the 20,000 negative posts about EJ.

Jul 28, 2006 3:57 pm

It’s not all bad…just mostly bad.

Actually you should read some more of the posts.. Many of us who left the company still recommend that it might be a good starting point for someone to launch a career.

Jul 28, 2006 3:57 pm

Although Jones isn't the best place for a successful FA I definitely think that it's a good place to get your feet wet, especially if you're planning on going Indy in the future.  They'll give you some training and you'll get familiarized with some basics of the financial services industry.

If you're more interested in the wirehouse model I'd look at Ed Jones only if the wirehouses decline you.

Anyone else?

Jul 28, 2006 3:58 pm

You would think that EJ was the next coming of ML with all of the press it gets on these boards.

I have never worked there but read post after post.

To sum up my feelings it seems that putting your nut$ in a vice would be less painful!

Jul 28, 2006 4:02 pm

If bloody knuckles and $6/hr stipends are your thing, then have at it.  Good luck "pursing" this career.  Oh yeah, phone interview is just the beginning.  There's about 8 more steps before you actually get the offer. 

All joking (not really) aside, take it at least through the door knocking to make sure you are comfortable asking intrusive questions.  If you get quivering knees or shakey hands, you might as well not attempt to get into the business at all.

Jul 28, 2006 4:03 pm

Oh, we all forgot to mention the outdated business model, only selling A shares, and the cheesy office furniture.

Jul 28, 2006 6:01 pm

My advice:

Don’t take advice from anonymous people, many of whom have an axe to grind.

But what do I know.

Jul 28, 2006 6:29 pm

Years ago, my wife and I lost a child to stillborn.  We spent a lot of time on message boards looking for comfort as we never dreamed that could happen.  If you read those boards you would have thought that it is near impossible to have a healthy baby.  After a while, the obvious occurred to me: those with healthy babies don't have the time or the inclination to spend time on message boards writing horror stories. 

My point is: for every "basher" of Jones here, there are hundreds, if not thousands, of people who are or were happy there.

I started with Jones in May.  I did a lot of research before deciding to join.  While researching, I spent a lot of time perusing this board and must admit that I was nearly scared off. 

I finally made the decision because I decided that, as looney stated, it looks like a good place to start what I believe will be a great career.  Will I stay there forever?  Who knows...  When I joined, I was looking for a solid company with a good training program.  I believe that Jones is just that.

Read everything you can find - good and bad - and make your decision.  Don't be scared by a vocal minority.

Jul 28, 2006 10:11 pm

I agree a good place to start for a newbie, but after 2 years it’s time to abort.

Jul 29, 2006 6:54 am

[quote=ezmoney]I agree a good place to start for a newbie, but after 2 years it's time to abort.[/quote]

Ezmoney, aren't you the kid who has a house, car, and retirment fund all paid for by your mother and father?

If so, and I'm almost positive it is, your advice is worth a bucket of warm spit.

Two years is not enough time to have learned your way around this business.  Those who are not born with a silver foot in their mouth will still be in the heavy prospecting mode and nothing turns a long list of prospects off more than job hopping.

Wherever you start you need to stay there for at least five years, or until you're 35 whichever comes later.

Jul 29, 2006 8:18 am

Putsy, YOU were born with a silver foot in your mouth, Daddy prospecting for you and all, and you couldn't last that long in production at one firm without job hopping. 

Quite the hypocrite Putsy m'boy.  Quite the hypocrite. 

Jul 29, 2006 5:19 pm

What’s wrong, Putsy?  Did I hit too close to home?  Or did you finally look into the mirror and see what the rest of us see?

Aug 2, 2006 7:17 pm

Jones is a good place to start your career. For some a good place to stay and retire. From what I understand other broker dealers are very cut-throat place to start. I have heard horror stories about other broker dealers. You either produce or you go, and the vets wait around for you to wash out so they can take the book you built over the time you were there. They expect you to produce at Jones too, but if you meet their very clear expectations, you WILL NOT have to worry about losing your job. They have struggled keeping new recruits. Most people just don’t like the work (door knocking and cold calls), can’t handle the stress, or the Jones formula for building a client base didn’t work for them. People that have been around for a while and have proven they can do the work sometimes leave to work for an independent broker dealer, a bank or another wirehouse. Read old posts to find out why.

Aug 2, 2006 7:21 pm

NASD… good post. I enjoy reading (most of) your posts. You give good advice to some of us Newbies.

Aug 2, 2006 9:28 pm

[quote=peanutbroker]NASD… good post. I enjoy reading (most of) your posts. You give good advice to some of us Newbies.[/quote]

I think peanut is really NASD using his alter-ego to stroke himself…!
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Aug 3, 2006 6:06 pm