FAQs - Edward Jones Careers

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Q: What is Edward Jones?
A: Edward Jones is a leading organisation of Financial Advisers and Stockbrokers, with over 10,000 offices through our affiliates in the US, Canada and over 300 offices UK. We place a firm emphasis on offering the individual investor proven long-term investment strategies instead of the latest fads, and looking after every single one of our people, whatever their role with us may be. We truly believe the best way to serve our clients is by meeting face-to-face and building long-term relationships with them. To that end, our Financial Advisers are based in individual, single-adviser branch offices located in the community they serve where they can deliver a face-to-face, personalised service to clients. We provide them with a full-time administrative assistant, as well as full service support from our Canary Wharf head office.

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 or sales territories (which do not exist at Edward Jones), but are those areas 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. Consider areas where you would feel comfortable introducing yourself to people and asking them to invest. In addition, think about where you want to be in 10 or 20 years. As part of the recruitment process you will speak with our Market Analysis team to determine your location. Please note that we are currently not recruiting for the Financial adviser Position within the M25 and London areas.

After you are hired, complete training and meet minimum selling expectations, we will do everything we can to get you into your branch office as soon as possible. However, prior to signing a lease on the branch office, we will review your progress and performance to ensure you are on track. Below-standard performance may result in a delay in opening your Edward Jones office. On average, Edward Jones Financial Advisers earn their offices within eight to 12 months. Our Branch Facilities department will play a key role in this process. The standard Edward Jones office is approximately 600 to 650 square feet in size. The firm will provide furniture, office and electronic equipment. These are the regions within which we plan to expand the business further.

Q: What products and services does Edward Jones provide?
A: First and foremost, we don't sell or offer any propriety products. Instead, we sell a variety of investment, pension and protection products. The list includes fixed income investments (corporate bonds and gilts), funds (units trusts and OEICs), capital investment bonds, shares, retirement plans (personal pension schemes, group pension schemes and self invested personal pensions (SIPPs), protection products (personal and business insurance) and general investment services (ISAs, dividend reinvestment programme, portfolio review, pound cost averaging and nominee transactions).

Q: What is the role of a Financial Adviser at Edward Jones?
A: The primary role of the Financial Adviser is to meet clients in person, learn their investment needs and objectives and then deliver appropriate investments to serve those needs and reach those objectives. Because we provide you with a huge amount of support you will find yourself able to provide your clients with relevant solutions to their investment requirements.

Q: What does an Edward Jones Financial Adviser career qualify me for?
A: Our Financial Advisers are qualified as Stockbrokers and Financial Advisers selling products that Stockbrokers sell (i.e. shares and corporate bonds) as well as those products that Financial Advisers sell (i.e. pensions, life insurance, capital investment bonds and funds.)

Q: Is the work difficult?
A: As you might expect, any career that offers the potential for financial success demands very hard work in return. This is a SALES position and it is like starting a new business. In any successful new business, hard work and long hours are mandatory, but the rewards are well worth it. Plus, you enjoy the freedom associated with running a business. Potential for firm ownership and travel incentives are other attractive benefits, not to mention the respect and leadership opportunities you'll enjoy from a Financial Adviser career with Edward Jones.

Q: Are Edward Jones tied agents?
A: No. There are no Edward Jones proprietary products and while we have a panel of preferred providers, Financial Advisers are free to choose the actual investment product or service that best meets their client needs.

Q: Do I own my business?
A: Edward Jones Financial are employees of the company. They enjoy the freedom and independence of running an office, without the insecurity and major expenditures associated with being self-employed. Although Financial Advisers do not actually own their individual businesses, they all have the opportunity for ownership in the company through a limited or general partnership. Financial Advisers who are invited to invest capital in the firm as a limited or general partner demonstrate superior sales performance and client account diversification, high ethical standards, office profitability, leadership through assistance of the other Financial Advisers and support the firm’s growth through the recruiting, training and other special efforts.

Q: Do I need to have my own car?
A: Yes. However, Edward Jones does not provide a company car, nor a car loan facility. A valid drivers' license and a car are conditions of employment.

Q: Is there a franchise fee? Do I need to have savings to start a Financial Adviser career with Edward Jones?
A: Edward Jones is not a franchise, you are not self-employed but a paid employee. We pay your salary during training and your first 12 months of selling. The income you will earn while building your business is a fraction of what it will be later in your career. To help get over this period and supplement your Edward Jones salary, we highly recommend that you to start your Financial Adviser career with some savings. Edward Jones does not collect this money from you, but simply wants you to have it so that you can meet your personal financial obligations while you are building a business.

Q: Can I have a part-time job outside Edward Jones until my business starts growing?
A: Edward Jones does not allow Financial Advisers to have second jobs. This includes the time period during which you will be studying for your regulatory exams. An Edward Jones Financial Adviser career requires hard work and long hours.

Q: I'm not sure I can wind up my current business before starting with Edward Jones. Is that a problem?
A: It depends. Industry regulations require you to disclose all outside employment, business and investment activities to Edward Jones upon employment. To continue any such activity, you must obtain approval from Edward Jones. There are some things the firm will not approve. Typically, these include activities that involve selling other products or services or have some other aspect that could potentially raise the appearance of impropriety or conflict of interest. For example, Financial Advisers are not allowed to sell any product or service away from the firm. Every situation is different and will be reviewed individually by our Compliance Department.

Q: Do I get my office right away or do I work from home for a period of time?
A: With rare exception, most Edward Jones Financial Adviser careers begin at home. It is however, important that you have a quiet place to work during this stage. You will work from home throughout the training period and your first four months of selling before you are eligible to qualify for an office suite based in your local area if you have met the minimum requirements. An office suite can usually be found within a month or two. Five months later you will be eligible to qualify for a permanent branch office if you've continued to meet the minimum requirements. The search and build out process for your permanent branch office usually takes two to five months. Actual time is determined by availability of space within your chosen location. The standard Edward Jones office is approximately 600 to 650 square feet in size. The firm will provide furniture, office and electronic equipment. While you are working from home, Edward Jones will arrange for several business telephone lines to be installed in your home.

Q: What if I need to relocate in the future?
A: We do not encourage relocation but do permit it in cases based on sound business reasons. An example of an acceptable reason would be to take advantage of an opportunity to move to another branch with greater assets. In such cases, the Financial Adviser must recruit their own replacement. In general, however, Edward Jones' expectation is that the new Financial Adviser will remain in the community for at least 10 years as this is a Financial Adviser career opportunity, not simply a short-term job.

Q: Will training courses fully prepare me for my Financial Adviser career with Edward Jones?
A: Building a successful Financial Adviser career with Edward Jones requires comprehensive training and your concentrated efforts to succeed. Edward Jones is committed to providing every Financial Adviser with a high level of continuous professional development throughout his or her career – something that meant we ranked Number two in The Sunday Times 100 Best Companies to Work For, 2008 and were named Best For Training and Development. In addition, mentor programmes and other assistance within your region are available as you build your Financial Adviser career. Your mentor will be assigned to you as soon as you join us and will be available to work with you and assist you throughout your entire training programme and Financial Adviser career.

Q: What does Edward Jones expect of me during my first year as a Financial Adviser?
A: The monetary rewards, personal freedom and lifestyle enjoyed by successful Edward Jones Financial Advisers are neither automatic nor quickly obtained. The work required, especially in the first two years, is both physically and mentally challenging. Your progress will be directly related to the quantity and quality of the work you perform. Although there is a great amount of potential for independence, the training and the work required are very structured, and we'll provide a great deal of support along the way.

Q: Should I be concerned about incurring significant expenses once I become a Financial Adviser?
A: Upon establishing your office and recruiting a branch office assistant, Edward Jones pays the rent, utility bills and your assistant’s salary, within certain guidelines appropriate for the market in which your office is located. In addition, the firm also provides office furniture, four framed prints, a copier and a communications system, two computer terminals, a laser printer and office equipment (e.g. fax machine, telephone/answerphone).

Your financial investment in your office will include sharing some controllable business expenses. Edward Jones covers 50 percent of your telephone and postage expenditures. In addition, we will provide you with a credit to use for sales literature, advertising or any other appropriate business or office expense during your first year.

During the first year, your income will be earned from sales commission, new account bonuses and a monthly salary. However, you must realise that beginning a Financial Adviser career with Edward Jones means developing a client base from scratch by speaking with many people you have never met. If you do the work, your business will grow steadily, but many Financial Advisers have had to rely on savings and family income to supplement their earnings during the first two years. Therefore, it is critical that you plan ahead and accumulate sufficient savings to meet your needs.

Although we provide a furnished and equipped office for all of our Financial Advisers, there are several expenses you may encounter that are not reimbursed. You are in control of these expenses, and how much you spend will depend upon your personal lifestyle, savings and individual business plan.

Expenses during your Training
Edward Jones covers a portion of your expenses during training, including travel to and from London and meals and accommodation when you attend Financial Adviser training classes in London. You are responsible for all other personal expenses. The increase in basic salary you receive upon successful completion of the academic training is designed not only to recognise this achievement, but to help offset other expenses you'll encounter during training.

Q: Do we have to sign a contract?
A: There is a contract that requires the return of all Edward Jones equipment in good condition and stipulates no client information may be copied or removed.

Q: What other factors should I consider prior to beginning a Financial Adviser career?
A: The work of a Financial Adviser is demanding. The first two years as an Edward Jones Financial Adviser will require you to invest tremendous effort in building the business. You will be working alone much of the time. You can expect to experience emotional ups and downs and a fluctuating income. Despite all of the warnings, your family may be surprised at the great number of working hours required to get your business started. In addition, it is also important to remember that this is a highly regulated industry. You will be running an office and required to do so within guidelines set by various regulatory bodies. Of course, the rewards of a Financial Adviser career with Edward Jones are great, but you must first determine if this position is right for you.

Edward Jones Limited does business in the United Kingdom as Edward Jones and is a wholly owned subsidiary of Edward D. Jones & Co. LP, a Missouri limited partnership. Edward D. Jones & Co. LP does business in the United States as Edward Jones and is a wholly owned subsidiary of The Jones Financial Companies, LLLP, a limited liability limited partnership.