Q: Describe your role within the firm.
A: I help our Financial Advisors with their tax, estate and financial planning questions and cases. I am also expected to develop and execute marketing initiatives to support the firm’s Financial Planning department initiatives. Q: Describe how your division contributes to the firm’s success.
A: Our division provides Financial Advisors with the products, services and advice they need to help their clients meet their financial goals. It is the sale of these products and ongoing fees that generates the firm’s revenue. More specifically, my department within the Products & Services division provides Financial Advisors with the tools, training and advice they need to meet the increasingly sophisticated needs of our clients by consistently using the Five Step Asset Management Process. Q: What year did you start at Edward Jones? What year did you start in your current position?
A: I started at Edward Jones in 2003 and my current position in 2006. Q: Which college program did you participate in when you joined the firm?
A: I was part of the Rotational Development Program (RDP). Q: What was your degree?
A: My degree was a Bachelor of Commerce, Majors: Business Administration, Computer Science and Finance. Q: What appealed to you about Edward Jones?
A: The main reason I chose to work for Edward Jones was the RDP. There wasn’t another firm I was interested in that would take a new university grad, move them to their head office in St. Louis for six months and allow them the opportunity to learn from and work with the associates there. I even had the opportunity to meet John Bachmann, the managing partner at the time, while I was there. The RDP is also very unique in that you are given the opportunity to work in four different departments in head office during your first year, which allows you and the firm to assess your strengths and interests, and decide which final placement will be best for you and the firm. Q: Are there any memorable experiences, perhaps helping a Financial Advisor or BOA, you’d like to share that encapsulate or typify what it’s like to work for Edward Jones?
A: We recently had one of our Financial Advisors call our department with an advanced financial planning case for a prospect who was a multimillionaire. He was looking for some advice to help this prospect with financial and estate planning. The three members of my team worked closely with the Financial Advisor to provide the information he needed for his meetings with the prospect. Some of our competing firms were in a big rush to invest this gentleman’s holdings in various different products, but the Edward Jones Financial Advisor, based on our advice, was a little more cautious and suggested that the client invest the money in some short-term products for now. This would allow him the chance to pull together a team of professionals (an estate lawyer and accountant) so this prospect could get the proper advice he needed. The prospect agreed to this plan, which focused on his needs instead of products. It not only felt great that we were able to help the Financial Advisor to land a large prospect, but it also made us feel awesome that we helped the prospect to get the proper advice. This is an example of keeping the client’s best interest in mind. Q: Describe the culture at Edward Jones and how it’s different from your previous job. What is unique?
A: I really do feel like Edward Jones has our clients’ best interest in mind, whereas my previous employer was more concerned about profits and keeping the shareholders happy. I think our responsibility-based management (RBM) approach is very unique, and I have really bought into this concept. I like the fact that I have a say in my responsibility statement and in a sense have the ability to organize and manage my own time. Q: One area in which Edward Jones prides itself is enabling its associates to maintain a strong work-life balance. How does this approach impact you?
A: I enjoy having the flexibility with my schedule to go to the gym (we have one in the building) during the day for a workout. This breaks up my day, takes my mind off work and helps me to live a healthier lifestyle. I often find that I come back to my desk feeling more refreshed and ready to take on the rest of the day. Q: What does the firm being a partnership mean to you?
A: In a time when most firms have gone public, it is a great feeling to be part of a partnership where the associates take part in the success of the firm. I have recently become a limited partner, and this makes me want to work even harder so we see great returns on our partnership interest. I also feel that since we are a partnership we can truly focus on keeping our clients’ best interest in mind, unlike public companies who are always struggling to find a balance between keeping shareholders and clients happy. Q: Before you came to Edward Jones, what did the name mean to you? And after you came on board?
A: Before I applied at Edward Jones, the name meant nothing to me. I came home from a Job Fair and talked about Edward Jones to my parents, and my dad said, "Who is Edward Jones?" At that time, there were no Edward Jones branches in my hometown, and the firm didn’t really advertise there, either. Obviously once I learned more about the company and its rich history, I became very interested in working here. Now that I have been working with Edward Jones for a while, I would say the name represents a partnership that truly has its clients’ best interest in mind. It is a firm with a colourful history and great culture. Edward Jones represents a group of associates who want to better the lives of our clients and leave a positive mark on the communities we work in. Q: Articulate the spirit of volunteerism that exists at Edward Jones. How have you been involved, and what was that experience like?
A: Volunteering is deeply ingrained in the Edward Jones culture, and I was exposed to this early on. During my first week of orientation with the company in St. Louis, we participated in a United Way Day of Caring. A group of about 15 of us, all fresh out of university, went to an inner-city day care center in St. Louis and stained a wooden fence that surrounded the day care’s yard. It was amazing to see how excited the volunteers and workers at the day care were that we were taking the time to help with the fence, and it was a great team-building exercise for us, as it was the first opportunity for us to interact with one another in a situation outside of a professional setting. Q: How did being an RDP associate help prepare you for a full-time role at Edward Jones?
A: Being an RDP associate helped me in countless ways, but I’ll focus on a few. First of all, by working in four different departments, you have the opportunity to get a better sense for how the firm operates and how all the pieces fit together. By having the opportunity to start my career in our head office in St. Louis, I met so many great people, and now when I have a question or something that I need a hand with, I have a pretty good sense of who to contact, and in turn they know who I am when I call. Finally, the RDP offered me regular performance feedback from my leaders in each department I worked in and also the program coordinators. It gave me a firsthand look at RBM and the types of things an associate has to do to be successful with the firm. Q: How is working at Edward Jones different from what you thought it would be?
A: I honestly didn’t expect there to be so much variation in my day-to-day responsibilities. No two days are the same, which keeps things interesting for me. I never dreamt that I would learn as much as I have and grow as much as I have as an associate in the last three years. Finally, I didn’t expect to be given as much responsibility as I have been this quickly. My leaders have been confident in my ability to get the work done, so they have not been worried about assigning some really interesting and important projects to me. Q: Give an example of something you learned on the job at Edward Jones that you were never taught in school. How has that knowledge better prepared you for your future?
A: I would say most of what I have learned on the job at Edward Jones are things that are not taught in school. A Bachelor of Commerce at university does a good job of educating students on theories and business practices; however, unless a student is enrolled in a co-op program, they don’t really get any on-the-job training as students do in some other fields (i.e., teachers, doctors, nurses). My time at Edward Jones has taught me how to be a team player in an office setting and how to work with other associates, leaders and principals in the firm. It has made my strengths and weaknesses clear to me, which has allowed me to set lofty but achievable goals for myself. All of these things will serve me well in any business setting, be it at Edward Jones or another firm. Q: In your opinion, what about your rotational program helped you most develop in your career?
A: I would say the RDP taught me to be a more flexible person, which is important in today’s fast-paced workplace. My final placement changed a few times before it was time to assume my role in a permanent position, and ultimately I had to be fine with the fact that I would be sent to the department where my leaders felt I would make the biggest impact. As an associate who is seen as flexible person, I have been offered some great challenges and opportunities along the way. Q: What advice would you give a student who is considering his or her employment opportunities?
A: Edward Jones is an excellent firm to work at and a great place to start your career in the financial industry. Leaders and associates here are very supportive and will go out of their way to help you with your development and learning. You will be assigned a mentor in the firm, and this is someone you can always go to with questions or for advice. Ultimately when you are choosing your first job, you want to look for a firm that encourages learning and development, and I have found that Edward Jones has provided me this so far in my career. Q: What qualities do you think a person needs to succeed in the home-office environment?
A: I feel that a person needs to be a driven individual to succeed in the home office. Since we subscribe to an RBM philosophy at Edward Jones, a person needs to hold themselves accountable to completing their tasks and goals. To succeed in the home office, a person also needs to be a team player, as you will end up working closely with individuals from various departments and backgrounds. Finally, I think a person needs to be flexible. There are numerous times throughout a day that something will come up that requires immediate attention that will take you away from your regular responsibilities. There are numerous times throughout the year that you will be asked to work on projects and in roles that you wouldn’t necessarily consider to be part of your "job description." Q: As you go through your daily activities, how do you know you’ve achieved success at Edward Jones?
A: I feel like I’ve been successful if I have completed all my responsibilities on time and achieved the goals I’ve set for myself, all while keeping our clients’ best interest in mind. I am my own harshest critic, and I know if I continue to hold myself to high standards, success at Edward Jones will follow. Q: There are very few offices at Edward Jones, with nearly all the firm’s leaders located in cubicles. What does this structure mean to you?
A: I believe this makes for an open-door policy where all the senior managers and partners are accessible. I have never felt awkward about stopping by my partner’s cube if I need to discuss something with him. There are very few businesses today where you can chat with the senior managers, let alone see them on a daily basis. Q: How has the firm supported your professional growth via training opportunities?
A: The firm and my leaders have always been very supportive of learning and training opportunities. Since I have started with the firm, I have taken numerous courses including the Canadian Securities Course, the Conduct and Practices Handbook Course and the Canadian Insurance Course, and I have received the Certified Financial Planner designation. The firm covered the course fees for all of these, and my leaders were flexible regarding my study time. I have also received some presentation training, as well, which has helped me to be a better public speaker. Q: Describe the training you received when you started.
A: I have always been impressed by the training offered at Edward Jones. My first three days were spent in New Associate Orientation, which helped me to understand more about Edward Jones’ history, culture and the importance of providing a high level of service to clients and other associates. I was part of the RDP for new university graduates, which gave me the opportunity to spend my first 12 months with Edward Jones working in four different departments throughout the firm. I worked in International Fixed Income and the Marketing Liaisons department in St. Louis, and then I spent time working in Retirement Plan Marketing and Insurance Marketing in Canada. I don’t think there are too many other firms that would invest that much time and effort to allow a new associate to train in, work in and learn about all these different areas of the firm. Q: In terms of ongoing training, are you able to use either internal or external continuing education to continue to grow your career at Edward Jones?
A: Edward Jones offers a tuition reimbursement program that associates can use for ongoing education, and I will be using this program to pay for my fees and study guides for the Certified Financial Analyst (CFA) designation. Q: What has the firm’s growth meant for leadership opportunities?
A: As the firm grows and prospers, it creates more opportunities for associates. As we add more Financial Advisors, more home-office support is required, and thus the various departments need to expand and add new leaders. It is in everyone’s best interest at Edward Jones to grow the firm, and this is not only reflected in bonuses and limited partnership returns, but also in the amount of responsibility that an associate can take on. Q: How do you see your future at Edward Jones unfolding?
A: As the firm grows and I continue to grow as an associate and a person, I see myself being a department leader and eventually a senior manager one day. I still haven’t ruled out becoming a Financial Advisor with Edward Jones in my hometown, either. Ultimately, my goal is to someday become a General Partner.
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