Q: Describe what the Edward Jones culture means to you.
A: I believe that no matter your country of origin or ethnicity, as an individual you are highly respected within Edward Jones. We can see that in our daily business, in conferences and meetings, and even with opportunities. A colleague — an Indian-Canadian — and I entered the firm together. She has been promoted to general partner. That is a great example of the firm's respect for all associates' contributions. Overall, I find that I have truly bought into the Edward Jones culture and values. I share the vision with our managing partner and the whole firm. The firm cares so much about our clients' best interests and the success of the Financial Advisors. Whenever you feel low or encounter difficulties, you can reach out, and the support is huge — at the regional level, from the mentors, from the field trainers and from the home office and partners. I think that part of the reason some Financial Advisors move to other firms is the temptation of a check offering an initially higher payout, but looking at all of Edward Jones' wonderful compensation programs — the diversification trips, the potential for partnership offerings, the trimester bonuses — together with income and profit-sharing, you realize you are helping clients while making a good living. Q: Are there any memorable experiences, perhaps with a client, that encapsulate or typify what it's like to work for Edward Jones?
A: In 2002, one client held only a $5,000 bond with me. However, for three months I called her, giving her advice on the volatile market. I called her about good bond opportunities or market updates or simply holding her hand, so by the end of the third month, she called to say, "That's it, Margaret, I am moving my account to you because in the past three months, you have called me more than my other advisor has in the past 15 years." So she transferred her six-digit retirement account to me — but that is not the end of the story. She referred her husband to me, and he walked into my office calling me, "Margaret, the angel," so that was very, very touching. That is the best ever compliment I have ever received. In the following years, she referred her hobby group ladies to me. When the market was volatile recently and I called her, she said, "I don't need to worry because I know I am dealing with the best Financial Advisor in the country." Once again, her comment not only made my day, but that I truly can help people in making their lives better. That is a very rewarding experience. Q: What about the Edward Jones opportunity appealed to you?
A: First, they do not look just for people with industry experience. They are looking for people who have the personal skills and the willingness to help people make their lives better. Another thing I find very attractive is that Edward Jones doesn't offer proprietary products, so we tend to be impartial with a conservative investment philosophy. I believe that is good not only for the majority of the investors, but also for the Financial Advisors. You don't chase the performers and end up with high risks. At the end of the day, you would be out of production. I believe that Edward Jones and its Financial Advisors are passionate about serving the clients' best interests. I feel that in every department of the firm: Everything we say and do is truly based upon how well we can serve clients. A part of the rich culture of Edward Jones is that we work in partnership, not only with the home office but also with the branch office administrator. Q: Articulate the spirit of volunteerism that exists at Edward Jones.
A: I have so many stories to tell about this great spirit of volunteerism. When I joined Edward Jones, I trained for three weeks in a mentor's branch office. Without this great mentorship, I couldn't sit here talking about all of the wonderful things about Edward Jones. I started in the wintertime, and my mentor was seeing a chiropractor for back pain. He still accompanied me while making first contacts and presentations, however. You still see a very successful Financial Advisor helping new brokers, and doing so without pay. It is purely out of the spirit of volunteerism. That is why today I am so determined to give back to new Financial Advisors — because I have received so much support from veteran Financial Advisors and mentors. I give a lot of credit for my business to my mentor. As a mentor and field trainer, I help train new Financial Advisors. Working as a productivity leader, I provide value and advice to meetings and events, just bringing Financial Advisors the knowledge they need or business-building ideas. As a mentor trainer, I help match field trainers with new Financial Advisors because providing quality training is so crucial for the region and the firm. I make the effort to understand where the new Financial Advisor came from — previous occupations, different languages — and hopefully matching him or her with an appropriate field trainer. With Edward Jones we have this rich culture that says we are not competing against one another; instead, Financial Advisors are peers sharing great ideas. Q: Describe what it's like to build a business.
A: The Financial Advisor perception was a very scary idea, as I had been working in the corporate world with all those fancy high-rise buildings. The face-to-face meetings in the cold winter and the hot summertime are not that easy. The thought of meeting people face to face was truly very scary until I learned in training how to ask open-ended questions and build relationships with clients. Several months down the road, I found the Edward Jones recipe truly worked. By the time I was off base salary, my business was already built up. It was not 100% worry free, but I found that the recipe truly worked. I just wish I could have started my Edward Jones career earlier. As a woman and a mother of younger children, I found it challenging. However, since I joined Edward Jones, I had my second child and enjoyed this truly great flexibility and freedom. I was able to balance my life and my business. I was able to nurse my babies while looking after clients' interests and financial well-being. Then I was able to bring my business to the next level, making my best month ever while having my second child. So while it is challenging; it will be manageable, and you can come out as a better person. Q: Detail an incredible diversification trip that you would never have considered had it not been for that benefit.
A: The diversification trips are truly unique and rewarding. Particularly at the first stage of my career with Edward Jones, it was such a motivation. Once you have taken your first trip, you definitely want to earn another trip and bring the family. I love them all, but the one that I took this year was a super trip golfing in St. Andrews, Scotland. My husband and I enjoyed it tremendously because we were able to play on both the old and the new courses. Without Edward Jones, I would probably not have made it. It is a ballot drawing, and even if you can stay there two weeks, your chances of being able to play on the old course are very slim. It was such a wonderful experience. Q: Has being a woman impacted your Financial Advisor career?
A: Initially, my husband worried about my travels making first contacts because I started in the wintertime, and in Canada it is very, very cold. He considered it a huge challenge, for both of us. He is very supportive, though. He says that, considering my past work experience, my Edward Jones career is relatively easier. If you can endure, you not only survive, but thrive and can do anything you want. I had never done this before and there were so many doubts in my own mind. However, even if people rejected me, I would not take it personally. I believe getting more confidence is key to our business as a Financial Advisor. People can read in your eyes whether you believe in yourself and the advice you are giving them. Q: Can you describe the spirit of inclusion at Edward Jones?
A: [Senior Partner] John Bachmann once said he met a lady in Europe who was a tour guide, and her dream was to have a happy retirement. John's comment was that people around the world have the same basic needs. I believe that the Edward Jones model and investment philosophy can prevail in many parts of the world. This is a very inclusive organization, with so many people from different countries of origin, different colours and different ethnic groups. As a female Chinese-Canadian Financial Advisor, I have found that there is not much difference between me and the other Financial Advisors. On the other hand, I do have the advantage of speaking four languages and understanding different cultures, so I can broaden my client base. I am serving 40% Chinese-Canadian clients. Every client's situation is unique. Immigrants usually have more investable cash. Locals tend to bring a lot of retirement assets. My business benefits from both sides. Q: What are the benefits of working for a partnership?
A: Edward Jones is the only partnership on Wall Street, which I believe helps us in making decisions that benefit our clients and our associates. Partnership has given me a great sense of ownership. I have turned down many other offers, whether they are big checks or assets from another firm. They may mean a lot to a relatively new Financial Advisor, but I have this belief in the Edward Jones partnership. Money is not the only thing that concerns me. Being a limited partner with the firm gives me a great sense of ownership. We also work in partnership with different departments and different associates, with my branch office administrator (BOA) in daily business and with the product partners. I truly enjoy this partnership with Edward Jones; it is a dream come true. Q: What one thing would you tell someone considering the Edward Jones opportunity?
A: Banking groups are very, very strong in Canada. However, the Edward Jones opportunity, culture and values, as well as this great spirit of caring and volunteerism, truly make this the best place for you and for clients. As I have said, I don't regret my choice, and I would strongly recommend that when you make your decision to join this great family, the sooner, the better — then together we can define the future and serve the best interests of our clients. Q: What would you say is the most enjoyable part of being a Financial Advisor?
A: When clients transfer in big checks — that would be the most fun part. However, I strongly believe in my responsibilities. Recently my son asked me, "Mom, why are you working so hard, and what do you get out of your job?" I told him that helping others achieve their financial goals makes me feel a great sense of accomplishment. Probably if I were in China today, I would have been able to make more money than I have now; however, I believe that money is not the only thing one should consider. By working with Edward Jones, I found I was helping clients achieving their financial goals while I truly grow together with the firm — with so many other wonderful people and all the leadership development opportunities. I have grown myself not only in terms of business, but as a person and as a future leader. I have learned a lot and by working at Edward Jones, I have truly made myself a better person. Q: How does being an Edward Jones Financial Advisor contribute to your work-life balance?
A: By the way you handle your business, you can determine its direction. In the meantime, you have this freedom and flexibility. Being a successful Financial Advisor, you can truly balance and manage your life, with quality time for your family. For instance, you can choose to take time off to play golf with clients or friends and then come to work on a Saturday. It is truly freedom that we have at the branch level. If I worked for a major bank, I would have to go from 9 to 5 unless I took maternity leave. I wouldn't have been able to serve clients and still nurse my baby and spend quality time with her, as I have in the past few years. That is why I just believe the Edward Jones opportunity is truly a great model for you to balance your life with your business and your career development. Q: Explain the dynamics of working in a two-person office.
A: As a Financial Advisor, you are sitting in the office with a branch office administrator in the firm's business model. However, Edward Jones offers great support, including the Research area and the intranet, and whenever you have any problems you can call the home office for an immediate answer. In the meantime, Compliance and Field Supervision officers monitor all trades to make sure that everything you do serves the best interests of the clients. You have the autonomy but also the support and supervision to help you run a profitable, ethical and legal business. Financial Advisors also can get together during diversification trips and regional meetings, where we can observe new ideas and learn new things from the veteran Financial Advisors. Even today, I still enjoy those meetings — particularly the summer regional meetings. We have business-building ideas and market and firm updates, as well as fun.
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