Edward Jones, Financial Advisor

[cowboyclint25]

So I am currently working in insurance but have been "recruited" by a college friend who works for EJ and going to a recruitment seminar at Southern Hills tonight. I am hesitant to make a change as I have a decent gig.

Wondered if anyone on here had any insight or experience with the company.

 

[osu2082]

What type of insurance are you in? If you like the industry and feel knowledgable I would look for an opportunity to get with a agency that will allow you to build a book of business that you own and control as that essentially what you will be doing with EJ.

The difference in my opinion is insurance is a product that nearly every person and business is required to purchase. A financial investment portfolio and a financial advisor isn't.

 

[osutater]

I know 5 guys that do EJ. They are all frat boys. 4 are complete douche bags and the other is one of the best guys I know. They all make really good money.

 

[TPOKE]

I was recruited by Jones many years ago. They wanted me to reopen the branch in the town I live in. I didn't feel comfortable with the thought of handling the money of people I know. The guy that eventually did it is ok, but seems disingenuine.

I have money with an Edward Jones branch in Derby, KS and am really pleased with him. The guy is just like the ones you see on the commercial.

 

[JonnyVito]

Do you like going door to door?

 

[Plan9]

So I am currently working in insurance but have been "recruited" by a college friend who works for EJ and going to a recruitment seminar at Southern Hills tonight. I am hesitant to make a change as I have a decent gig.

Wondered if anyone on here had any insight or experience with the company.

I don't work for them but may have some insight. I do currently work in the insurance industry and have for a long time. I also have been an Edward Jones customer for several years. Strangely as referenced above I was solicited by a door to door salesman. He was a recent OSU grad that had an office close to where I live. He ended up having a friend of a friend type connection through OSU wrestling. My only investments at the time were my work 401k and a couple smaller retirement accounts my father had started for me years ago when I was a minor that were basically just tied up in mutual funds. I moved the accounts to Edward Jones to some more aggressive investments. My money did very well. Mostly it was because the market was so good it would be hard to lose but I got decent advice. That adviser moved back to a small town and was replaced by an older guy. The "new" adviser was a whiz and opened me up all kinds of options that the rookie I had been dealing with was maybe not even aware of. Then that guy had some kind of family situation and quit and they brought in a new guy that had also relocated from Stillwater. I was ready to pull out with all the changes but the second new guy also turned out to be very competent and I have been very satisfied with his service. I have found Edward Jones to be focused on the long haul or big picture however you want to describe it. They are by no means turn and burn brokers. They have a conservative approach to investing. Obviously their corporate stance is that investing in the stock market is sound and will continue to be so. As somebody that fears and to some degree expects a total collapse of the financial system I am still skeptical of the viability of my investments by the time I retire. However that's not an indictment of Edward Jones. They can't exactly promote their products while giving the caveat the system is unstable.

My advice to somebody who is looking into going into this is to see what is already in your market. Location and demographics are very important. You are not selling a product that people are legally required to have like auto or health insurance. You don't want to be close to very many other Edward Jones offices. When potential customers see the sign on the building it just says Edward Jones and they don't know the difference between advisers. There are great opportunities in the right situation. Some of these financial firms pitch to new agents ideas that are more consistent with multi level marketing than legitimate business like getting your friends and family signed up and then it will snowball. My takeaway is that Edward Jones has been legit and trustworthy for me but I would be very sure you were being set up to succeed or I would stick to a decent gig as you say you have.