FAQs - Edward Jones Careers

Frequently Asked Questions

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Q. What transitioning assistance can I expect from Edward Jones?
A. Soon after you are hired, you will be provided with a dedicated transition team that will help you sort out all relevant issues, making sure your transition goes as smoothly as possible. Moving over clients? What's legal? What's appropriate? What marketing resources are available, etc.? You will have immediate access to transition team to assist you in your move to Edward Jones. They will work with you on system technology as well as product availability/inventory. Their objective is to provide you with the tools and information necessary to help you be 100% productive from day one.

If you require it, we will also provide you with significant financial support during training and for your first year, giving you the freedom and peace of mind you need to establish your business. The amount will be calculated based on your current earnings, geographic location and your level of experience.

Q. Will I receive "up front" money when I join Edward Jones?
A. Edward Jones does not pay "up front" money. However, we do offer a generous payout and a transition compensation plan individualized to meet your needs. If your current gross commissions exceed $150,000, a performance-based bonus program which will reward you for transitioning your business may be appropriate. This could as much as double your compensation for the first year. While we anticipate those transfers that we hire at Edward Jones will stay until retirement, our performance-based bonus structure does not tie you down with long-term contract.

Q. As an experienced advisor, what kind of training can I expect?
A. We will customize a training program to meet your individual needs. In addition, our advanced training program is recognized as one of the best in the industry. Go to our training section to learn more.

Q. Is the work difficult?
A. As you might expect, any career that offers the potential for significant financial rewards demands very hard work. This is a sales position, and it will feel like starting a new business. In any successful new business, hard work and long hours are mandatory, but the rewards are well worth it. Here, you’ll enjoy unlimited earning potential along with the freedom associated with running a business. Potential for firm ownership and travel incentives are other attractive perks, not to mention the respect and leadership opportunities you'll enjoy.

The first two years as an Edward Jones Financial Advisor require you to invest tremendous effort in building your business. You work alone much of the time. You can expect to experience emotional ups and downs, as well as a fluctuating income. You'll be meeting and talking with people during the day and on weekends, and catching up on paperwork and writing thank-you notes at night. In addition, as with any sales career, you'll have to overcome many "no's" before ever hearing a "yes." The ability to deal with rejection will play an important role in your daily activities. Success requires self-confidence, dedication and persistence. Despite all of the information you'll receive, your family may be surprised at the great number of working hours required to get your business started.

For those relatively new to the industry, it is important to remember that this is a highly regulated industry. While you run your own business, you are required to do so within guidelines set by the regulatory bodies. The rewards of being an Edward Jones Financial Advisor can be considerable, but you must determine whether this career is right for you.

Q. Where should I establish my Edward Jones business?
A. Locating branch offices in places convenient for face-to-face contact with clients is one of Edward Jones' key business strategies. The number and location of branches within each community is determined by a variety of factors, including population, age of residents and investable assets. The process of location selection begins when you submit your application. You must indicate on the application where you wish to establish your business. The more specific your description, the better. Locations are not franchises, nor do they define sales territories (which do not exist at Edward Jones). They are in which you believe you can build a successful business. While you can do business anywhere you are properly licensed, this location will be the focus of your business-building efforts. Go the Choosing Your Branch Location page to learn more.

Q. What if I need to relocate?
A. We do not encourage relocation, but do permit it in cases where sound business reasons exist. An example of an acceptable reason would be to take advantage of an opportunity to move to another branch with a greater level of assets. In such cases, the existing Financial Advisor must recruit his or her own replacement. In general, however, the firm’s expectation is that the new Financial Advisor will remain in the community for at least 10 years.

Q. Can I have a part-time job outside of Edward Jones until my business starts growing?
A. No. Edward Jones does not generally allow Financial Advisors to have second jobs, with the exception of part-time teaching positions. A career as an Edward Jones Financial Advisor requires hard work and long hours. Any outside employment, regardless of how minimal, must be disclosed during the hiring process and approved by our Compliance department.

Q. What if I am currently licensed and am selling insurance?
A. If you are presently licensed to sell insurance and are receiving more than $5,000 per year in trail income from a non-Edward Jones vendor or have $2 million of annuity assets that meet the required quality standards, Edward Jones may sign a dealer agreement on your behalf. Although no additional policies may be sold, renewal income may be processed through Edward Jones with the standard commission payout schedule in effect. Such a policy is solely at our discretion. If you have outside renewal of life, health or property and casualty income, please discuss this with your recruiter. All other appointments not disclosed to Edward Jones must be canceled.

Q. Do I have to sign a contract?
A. There is a contract that requires the return of all Edward Jones equipment in good condition; stipulates that no client information may be copied or removed if a Financial Advisor leaves the firm; and may require the repayment of training costs on a pro-rated basis. After three years, the new Financial Advisor is no longer financially obligated to Edward Jones, but other clauses remain in effect. It is standard in the industry and protects Edward Jones if you decide to leave and go to another firm in the industry.

Q. Does Edward Jones offer benefits?
A. An Edward Jones Financial Advisor’s total return includes more than just a paycheque. Edward Jones provides access to a comprehensive package of benefits. Standard benefits, which are provided at no cost to you, include basic life insurance, basic accidental death insurance, profit sharing and tuition reimbursement. Optional benefits offered by Edward Jones include long-term disability, supplemental life insurance, supplemental accidental death insurance, dependent life insurance, long-term care insurance, and investment savings plan.

As an associate of Edward Jones, most benefits become effective on the first day of the month following one month of employment. For example, if your payroll date is January 7, benefits would be effective March 1. If your payroll date falls on the first day of a month, benefits would become effective on the first day of the following month. Your payroll date is the date you start working, not the date you sign an employment agreement. If you join the firm, a detailed benefits package will be mailed to your home during your first week of employment with Edward Jones.

Q. Should I be concerned about incurring significant expenses once I become a Financial Advisor?
A. Although we provide a furnished and equipped office for each of our Financial Advisors, there are several expenses you may encounter that are not reimbursed. This includes office decor such as plants and pictures, and other office equipment such as a coffee maker, dry-erase boards and flip charts. On average, it takes a minimum of about $400 in expenses for personal items to set up an office. You can also expect to spend an additional $4,200 on non-reimbursable office expenses annually.

The amount a Financial Advisor chooses to invest in developing and promoting his or her business ranges from several hundred to several thousand dollars per year. You are in control of these expenses, and how much you spend will depend upon your market, personal lifestyle, savings and individual business plan.

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Q. Do I need a post secondary degree?
A. Although we prefer that our applicants have university/college degrees, it is not a requirement.

Q. Is there an age limit?
A. No. Edward Jones is an equal opportunity employer. Age is not a factor in our hiring process.