Edward Jones Traning Cost Repayment

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Dec 6, 2010 9:32 pm

OKay folks, I apologize I know this has been covered before, i have searched and read, but just need a little final clarity.

I have been out of EVal/Grad ( licensed) for about 4.5 months now. Things are okay, i am performing at standard etc.  Regardless, this is just not what i want to do with my life, im only 22 and just took this job out of college to get some experience in a very hard job market. However, financial sales is not something i want to do..

My question is, if i get a job ( not related to selling financial sales but still in business or maybe even finance related) but do NOT use my licenses or go to a competitor or solicit existing business in anyway, am i still on the hook for the 75k training fee? the way i read the contract i believe no. Thing is no one in my region can give me a straight answer and I’m afraid to call HR. Was hoping for some insight.

Dec 6, 2010 9:37 pm

I believe that would be a no

Dec 6, 2010 10:18 pm

No - You might consider talking to your RL about what you are feeling though.  Maybe he can hook you up with the PASS program?

Dec 7, 2010 11:40 am

The PASS program would eventually lead him back to the FA position, which is what he it trying to avoid. 

New - if you're interested in the business, but just don't want to be on the sales side, I'd suggest looking at opportunities in the home office.  I haven't looked recently at the job postings, but there are usually a few that someone with a college degree and very little experience otherwise can get.  Of course you'd have to move to STL, Tempe, or Toronto.  But if you want to stay in finance you'll have to move to where the jobs are anyway.

Dec 7, 2010 9:23 pm

Welp, i have no desire to live in st loius. Or make 12$ a hour with the pass program.  I have some job oppurtuntes involved in finance but outside of selling.'

SO the general thought is im not responsible for these training costs if I do not use my liscence at my next gig.

Thanks to all who have taken the time to respond, really appreciate it.

Dec 8, 2010 12:31 pm

I think you have to be careful going to any kind of financial company if EDJ could consider them a competitor of some sort.  If you're not going to call HR and ask the question, then if it were me, I'd make the move expecting Jones to contact me for the training money and then be pleasantly suprised if they didn't.  You know what they say about assuming.