Need Help with Final Jones Interview!
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Hello,
I'm new to this forum and new to the finance industry. Edward Jones has COMPLETELY put me through the ringer, and I barely have a shread of confidence left! (But a final face-to-face interview is hopefully in the near future). I really believe I would be a great financial advisor, but I am young, and without sales/finance experience. I have been quite successful with my own investments, and have always wanted to be a financial advisor. It is unprofessional to talk about my personal success with investing in my final interview? I'm definitely a people person, I'm very outgoing and having a thriving social life...is it unprofessional to talk about how many great parties I host in my small town, and how I have friends of all ages and occupations? Also, I've been through two tough phone interviews already. I've asked a hundred questions already, but I'm sure they'll ask me again, do I have any questions? When by now, I do NOT have any other questions. Should I repeat some old questions just for good measure? One more thing...will they ask really tough behavioral-based interview questions again in the final interview? I don't feel like the questions I've been asked so far are indicitive of whether or not I'd be successful as a FA! Help!!!all questions are behavior-based. their theory is that there is a big difference between these 2 questions:
1. How would you handle...? 2. Tell me about a time that you DID handle.... NOTE: investment knowledge is NOT RELEVANT. they want to know that you get this fact: this is a SALES JOB. Not glamourous, knock on doors, take rejection, dogs are barking, looks like rain, gotta keep going anyway...it ain't FINANCIAL ANALYSIS! ....that comes later. The interviewer will be silently laughing at you for thinking you are good at investments....EVERYONE was good during this 5 year bull market that recently ended!As newnew said, this is a sales job. Period. End of story.
I know a ton of folks who have left Jones (I can't speak for other firms) because they loved following mutual funds and individual stocks and thought they'd discovered their dream job in Edward Jones. However, many didn't fully understand the type of work that is involved to succeed--begging, groveling, more begging--and they go find something else to do. Your level of knowledge about investments means almost nothing (you're just going to turn your clients' money over to real money managers anyway) and gathering assets means everything. We're not investment analysts or money managers. We are salesmen.[QUOTE=richchick]Hello,
I'm new to this forum and new to the finance industry. Edward Jones has COMPLETELY put me through the ringer, and I barely have a shread of confidence left! (But a final face-to-face interview is hopefully in the near future). I really believe I would be a great financial advisor, but I am young, and without sales/finance experience. I have been quite successful with my own investments, and have always wanted to be a financial advisor. It is unprofessional to talk about my personal success with investing in my final interview? I'm definitely a people person, I'm very outgoing and having a thriving social life...is it unprofessional to talk about how many great parties I host in my small town, and how I have friends of all ages and occupations? Also, I've been through two tough phone interviews already. I've asked a hundred questions already, but I'm sure they'll ask me again, do I have any questions? When by now, I do NOT have any other questions. Should I repeat some old questions just for good measure? One more thing...will they ask really tough behavioral-based interview questions again in the final interview? I don't feel like the questions I've been asked so far are indicitive of whether or not I'd be successful as a FA! Help!!![/quote] This is a joke ....we are talking about the kool-aid crew aren't we? I think the problem is that you've asked questions. If you truly are a good looking "richchick" then you get alot of "hand-holding" by the RL/GPs in your region gaaaraanteeed!remember that there are those who feel that Jones is hell on earth (it is not) occupied by the devil himself (we are not). you’re new here chick; it gets pretty irrational at times.
No, complaincejerk, this is not a joke. I’m so new, and so earnest, that I don’t even know what the hell the story is behind the kool-aid references. Okay, so I understand that THIS IS A SALES JOB. I’ll leave out my brilliant investing history, and just hope that I come across as a good salesperson? Sigh. I would love to have other options, but I live in a small, remote area. It seems like EJ is my best bet, as they support offices in rural areas. Please explain what you mean about asking too many questions…remember the title of my topic. I need help acing this interview! Come on, give me some real advice.
Humph, iceman. I’m offended. I’m getting terrified reading the posts on this forum. I’m paranoid about my interview. But surely my interviewers have better things to do than to search out the fears of EJ newbies. Actually, I recently found out that EJ ALREADY HIRED a brand new FA here in my small town. So (IF I’m hired, too) we’re going to totally be competing for new business. Does anyone have experience in this area? If EJ has decided that a small town can handle 2 advisors, can they both be successful starting from scratch? No goodknighting here (I wish). Getting discouraged…
chicky poo,
If they have really hired another new person at the same time in your small town, they are trying to throw you both against the wall and see who sticks. Chances are both of you won't make it, but one might. Jones plays the numbers game and the more numbers they can run through their system, the more successful they'll be in opening new offices. If you're afraid and nervous and haven't even made the final interview yet, you'll never make it!!I suspected the same, although the grammar and syntax has improved markedly. Perhaps the plastic surgeon is proofreading before these get posted... ...at least we're not discussing "conrows" and sales techniques for lap dances...By the way, I think you are BJQ/MrsO/girl, just for the record.
the final interview is a joke. “tell me about a time you went above and beyond what was expected.” “tell me about a time when you blah blah blah.” read newnew’s post. he just went through it. unless you are falling all over yourself or have no communication skills, or show up drunk, the final interview is not about “acing” anything. it is just one more person saying, “yeah, this person is likable and moral.” no investment questions will ever come up. they don’t care AT ALL if you know anything about investments. they can teach you that.
[quote=FreeFromJones]chicky poo,
If they have really hired another new person at the same time in your small town, they are trying to throw you both against the wall and see who sticks. Chances are both of you won't make it, but one might. Jones plays the numbers game and the more numbers they can run through their system, the more successful they'll be in opening new offices. If you're afraid and nervous and haven't even made the final interview yet, you'll never make it!![/quote] Actually, all brokerage firms work that way.If you’re talking about me newnew, then I’ll tell you what I REALLY am…an engineer. Pretty boring, eh? Yeah, I think so too. I have a BS in Civil and an MS, too. But at least I make a pretty good salary at the moment. Not 6 figures, but I’m not too far off. I’m not scared of the WORK involved to be a successful FA. But I guess I am a little scared of not “sticking to the wall” and then being unemployeed with very few employment options in the small town I live in (in the middle of nowhere). My town already has three existing successful financial planning businesses in town. Maybe it’s a better bet for me to try to get a job with one of them then to work for EJ… Whatever I do I’m sure it will be more interesting than arguing over ppm concentrations of diesel in contaminated oil pits. Ugh.
Hi,
First thing to do is relax. If you have made it this far you are doing something right. If you are motivated (really motivated) to do this work (that is 3/4 of the battle) then that will come through in the conversations you have with interviewers. It is hard work (I myself am deciding where to go as a middle age career changer) but if you have the motivation and REALLY understand what is involved you are ahead of the game as many seem not to understand how hard the first few years can be. If you kive in a small rural area chances are your cost of living is low, giving you (perhaps) an advantagerichchick,
a BS & MS in Civil ......and you want to join either EJ or MS????? c'mon it ain't even March and you're pulling April fools day jokes.I likewise stand corrected...there's no way BJQ/et al could maintain such a facade of intelligence for this long. There are a few questions you need to ask yourself before proceeding down this path. First of all, can you live on less for a few years (possibly considerably less) than you make now? Are you mature enough to realize that you may have just been lucky and it might be difficult to duplicate your investment success consistently in the future (I used to think I was Warren Buffet also)? Do you understand that despite your likeability and intelligence, it may be difficult to persuade people to entrust you with their life savings whan you are obviously green as grass and just beginning to learn the business? You may well have what it takes to make it, but if you want to improve your odds, try living on half of your net for a few months just to see if you can do it. That will (1) tell you if you can survive on a salary that might approximate what you'll make in training and (2) build a war chest to draw on when cash flow is thin (sometimes those months happen to the best of us, particularly when starting out). The idea of exploring joining an already successful firm is worth looking into, as it is easier to get people to trust you with their money if you have an experiences and well-known veteran backing you up. Just make sure you are going in with your eyes wide open...have an attorney review any employment contract before you sign so you know what is expected and what restrictions you will operate under. Good luck.If you’re talking about me newnew, then I’ll tell you what I REALLY am…an engineer. Pretty boring, eh? Yeah, I think so too. I have a BS in Civil and an MS, too. But at least I make a pretty good salary at the moment. Not 6 figures, but I’m not too far off. I’m not scared of the WORK involved to be a successful FA. But I guess I am a little scared of not “sticking to the wall” and then being unemployeed with very few employment options in the small town I live in (in the middle of nowhere). My town already has three existing successful financial planning businesses in town. Maybe it’s a better bet for me to try to get a job with one of them then to work for EJ… Whatever I do I’m sure it will be more interesting than arguing over ppm concentrations of diesel in contaminated oil pits. Ugh.
I likewise stand corrected...there's no way BJQ/et al could maintain such a facade of intelligence for this long. There are a few questions you need to ask yourself before proceeding down this path. First of all, can you live on less for a few years (possibly considerably less) than you make now? Are you mature enough to realize that you may have just been lucky and it might be difficult to duplicate your investment success consistently in the future (I used to think I was Warren Buffet also)? Do you understand that despite your likeability and intelligence, it may be difficult to persuade people to entrust you with their life savings whan you are obviously green as grass and just beginning to learn the business? You may well have what it takes to make it, but if you want to improve your odds, try living on half of your net for a few months just to see if you can do it. That will (1) tell you if you can survive on a salary that might approximate what you'll make in training and (2) build a war chest to draw on when cash flow is thin (sometimes those months happen to the best of us, particularly when starting out). The idea of exploring joining an already successful firm is worth looking into, as it is easier to get people to trust you with their money if you have an experiences and well-known veteran backing you up. Just make sure you are going in with your eyes wide open...have an attorney review any employment contract before you sign so you know what is expected and what restrictions you will operate under. Good luck.[/quote] BTW, Indyone gave some real good advice. If you are close to 6 figures now, it will take close to 5 years to replace that income not to mention the cash that you will burn through to get you there. 78% of those that start will not make it 5 years later. Are you one of the 22%?? The work is not scary, repeating the work day after day for the first 3 years is.....[quote=richchick]If you’re talking about me newnew, then I’ll tell you what I REALLY am…an engineer. Pretty boring, eh? Yeah, I think so too. I have a BS in Civil and an MS, too. But at least I make a pretty good salary at the moment. Not 6 figures, but I’m not too far off. I’m not scared of the WORK involved to be a successful FA. But I guess I am a little scared of not “sticking to the wall” and then being unemployeed with very few employment options in the small town I live in (in the middle of nowhere). My town already has three existing successful financial planning businesses in town. Maybe it’s a better bet for me to try to get a job with one of them then to work for EJ… Whatever I do I’m sure it will be more interesting than arguing over ppm concentrations of diesel in contaminated oil pits. Ugh.
[quote=Indyone][quote=richchick]If you’re talking about me newnew, then I’ll tell you what I REALLY am…an engineer. Pretty boring, eh? Yeah, I think so too. I have a BS in Civil and an MS, too. But at least I make a pretty good salary at the moment. Not 6 figures, but I’m not too far off. I’m not scared of the WORK involved to be a successful FA. But I guess I am a little scared of not “sticking to the wall” and then being unemployeed with very few employment options in the small town I live in (in the middle of nowhere). My town already has three existing successful financial planning businesses in town. Maybe it’s a better bet for me to try to get a job with one of them then to work for EJ… Whatever I do I’m sure it will be more interesting than arguing over ppm concentrations of diesel in contaminated oil pits. Ugh.
I likewise stand corrected…there’s no way BJQ/et al could maintain such a facade of intelligence for this long. There are a few questions you need to ask yourself before proceeding down this path. First of all, can you live on less for a few years (possibly considerably less) than you make now? Are you mature enough to realize that you may have just been lucky and it might be difficult to duplicate your investment success consistently in the future (I used to think I was Warren Buffet also)? Do you understand that despite your likeability and intelligence, it may be difficult to persuade people to entrust you with their life savings whan you are obviously green as grass and just beginning to learn the business?
You may well have what it takes to make it, but if you want to improve your odds, try living on half of your net for a few months just to see if you can do it. That will (1) tell you if you can survive on a salary that might approximate what you’ll make in training and (2) build a war chest to draw on when cash flow is thin (sometimes those months happen to the best of us, particularly when starting out).
The idea of exploring joining an already successful firm is worth looking into, as it is easier to get people to trust you with their money if you have an experiences and well-known veteran backing you up. Just make sure you are going in with your eyes wide open…have an attorney review any employment contract before you sign so you know what is expected and what restrictions you will operate under.
Good luck.[/quote]
BTW, Indyone gave some real good advice. If you are close to 6 figures now, it will take close to 5 years to replace that income not to mention the cash that you will burn through to get you there. 78% of those that start will not make it 5 years later. Are you one of the 22%?? The work is not scary, repeating the work day after day for the first 3 years is…[/quote]
Well put. I just saw two newbies in my region fail out (one quit, one fired) after about 18 months, as they took over existing offices, and proceeded to do nothing for 18 months except “hope for the best.” Unless you take over a $40 or 50 million office (in a non-competitive situation), you will need to work hard for 3-5 years to build your client base.
THEY OFFERED ME THE JOB!! They offered me the job! I accepted. I am THRILLED. So long, boring engineering career! Thanks everyone for the advice. Even the mean and sarcastic advice. I tried to be serious, not too cheerful, not talk about investing. Now I will have to work, work, WORK to not be the one of two people who don’t make it…because I’m not going to have a job waiting for me if I fail. Not an option.
RC.