Q: What did you do prior to coming to Edward Jones?
A: Prior to joining Edward Jones, I was an independent advisor working 200 yards from my house. I had lunch with the kids every day, and actually it was prior to my daughter being born. Edward Jones contacted me, and I’d followed Edward Jones for a long time. Q: How is the compensation different at Edward Jones compared to the independent?
A: The difference between an independent payout and an Edward Jones payout is much like a funnel. The independent payout is the top of the funnel; the Edward Jones payout is the bottom of the funnel. And, quite simply, at an independent you’re focused on the gross, and that independent firm wants you focused on the gross. What matters to you as an individual and an advisor is the net. And at Edward Jones it’s truly a total return package. I think, frankly, it ties back to our structure as a partnership. You know, owners, family members act different from employees or associates. It brings and encompasses that ownership. And as you get into this business, I think Edward Jones exemplifies that it is more than just the dollars and cents; it's a relationship business. We’re developing important relationships with our clients that are going to last a lifetime, but also we’re developing relationships with each other that are going to last a lifetime. Q: Talk a little about the spirit of volunteerism at Edward Jones.
A: Mike, our Regional Leader, was instrumental in showing me the Edward Jones way and showing me the light. I will be forever indebted to Mike. And it’s that kind of indebtedness that creates future volunteerism, and that’s why I’ve become actively involved in the region, helping other Financial Advisors, because I didn’t get where I’m at today or where I’ll be in the future by myself. I got there with great loyal clients and other veterans who were willing to help me, not only in the good times, but more importantly in the bad times, to show me the way. I think the culture doesn’t just exist; it thrives because of the common goal. And the common goal is to be truly client-focused. Q: What makes Edward Jones different?
A: Our objective this year is client satisfaction; it always has been. We get outside accolades, but more important than that, we want to hear from our clients the kind of service we provide. Because candidly, what you, the client, purchase from me, you can buy from several financial institutions. Where we differentiate ourselves is putting you first and providing superior service to that. So I think everything wraps around that client focus and then, we spend the time and resources to get together and always make sure we’re staying humble and true to the point that the client’s No. 1. Q: What kind of support do you get in the field?
A: You have BOA support in the office. This is something that I didn’t have as an independent because it was an overhead expense – it was an assistant. So I had the 80% payout, but I had 150% of the paperwork and the hassle. And what’s amazing at Edward Jones, we have it figured out where in that partnership between the BOA and the Financial Advisor, the BOA is handling a lot of the day-to-day paperwork, freeing you up to do what you do best and what you enjoy, and that’s meeting with your clients, interacting with your clients and giving good, solid investment advice. And that’s a big difference from being an independent. Q: A lot of Financial Advisors talk about the structured autonomy at Edward Jones. Have you experienced that?
A: When we talk autonomy and structure in the same sentence, it seems to be a little bit of an oxymoron. It’s not here at Edward Jones. You have the structure of one of the most solid financial firms in the country with support behind you. That’s the structure. The autonomy is you run your business how you want to run your business. One of the rewarding things is that you build your business with clients who respect you, and vice versa. You find yourself ingrained in the community you live and work in, and so you’re at the local sporting events, you’re in the local Rotary Club. People and clients understand that at times you’re going to be out of your office, enjoying life and meeting clients outside the office. And I’ve never found it to be an issue. The autonomy is tremendous. Q: What advice would you give a new Financial Advisor?
A: The opportunity at Edward Jones is tremendous, but also the opportunity within this business is tremendous. Remember, the baby boomers just began to turn 60. There is a huge chunk of wealth that those individuals have that they need help and strategies with in retirement for the distribution of those monies. And, as a Financial Advisor at Edward Jones, you’re perfectly positioned. One other thing I would mention is this is a noble profession. People are always going to want to live in retirement with dignity. They’re going to always want to educate their children. They’re going to want to transfer wealth as tax-efficiently as possible. And they’re going to want to protect themselves against disaster. As a Financial Advisor at Edward Jones, you’re perfectly positioned to do that.
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