Experienced Financial Advisor:

Firm Culture – How Important Is it to Your Success?

Moving firms is a highly personal decision for financial advisors. Each person places different emphasis on a variety of factors. In a recent firm culture study conducted by AdvisorHub in partnership with Edward Jones, common cultural factors emerged as a top reason for making a move.

“When I transitioned to Edward Jones, it was an opportunity to build my business, while getting the support I needed to succeed. I have the independence I was looking for, but I never feel alone.”

-Jessica Barron, Financial Advisor

The study showed other top reasons for joining a firm include the technology, a desire for independence, work-life flexibility, and supportive management.

Read the full study

Clients Want to Connect Purpose and Investing – and We Can Help Them

July 19, 2021/in Experienced Financial Advisor Optional /by Symphony Talent

Experienced Financial Advisor:

Clients Want to Connect Purpose and Investing – and We Can Help Them

by Ken Cella

Having a strong sense of purpose is important for any organization, particularly for those of us in financial services. At Edward Jones, for example, everything we do is fueled by our purpose to improve the lives of our clients and colleagues, and together, better our communities and society.

While our company purpose is paramount to us, the focus of our purpose is outside the four walls of our organization. We’re intentionally attuned to partnering with our clients to help them discover their sense of purpose, and for two good reasons. First, it enables us to provide services that give clients an opportunity to bring their purpose to life in ways that are important to them. Second, clients are increasingly interested in working only with companies that align with their core values.

While our company purpose is paramount to us, the focus of our purpose is outside the four walls of our organization. We’re intentionally attuned to partnering with our clients to help them discover their sense of purpose, and for two good reasons.

One way in which we’re doing this is in the area of sustainable investing – offering our clients ways to consider environmental, social and governance (ESG) criteria in their portfolios. Many studies show that a growing number of individual investors want to make a positive impact with their money. In fact, 33% of total assets under professional management in the United States – that’s one out of every three dollars – is already being invested using some type of sustainable strategy, according to a 2020 report from U.S. SIF: The Forum for Sustainable and Responsible Investment. Additionally, insights and industry studies tell us that demand is increasing, especially among certain kinds of clients.

We believe sustainable investments can help our clients achieve their financial goals as part of a diversified portfolio, and we are working to make more sustainable investments available to them while also helping them understand all the options available and any associated risks.

We’re also offering our clients opportunities to support causes that are important to them and do it in a way that helps their contributions go even further. We do it through a donor-advised fund, or DAF, that we call the Edward Jones Charitable Gift Fund. Through the Charitable Gift Fund, clients make an irrevocable contribution for which they receive an immediate tax deduction. Over time, they can then direct grant requests to IRS-approved public charities.

The money in the fund is invested based on the client’s preferences, giving it the potential to grow tax-free, thus expanding their charitable impact. It’s a great option for clients who want their charitable giving to be tax-deductible, but don’t give enough each year to itemize their deductions. It’s also helpful for clients who own investments that have significantly increased in value, or for those who have experienced an unusually high-income year, as the Charitable Gift Fund can help alleviate tax burdens while the charities receive more proceeds than if the client gifted post-tax income. Edward Jones, its employees and financial advisors cannot provide tax or legal advice. Investors should consult their attorney or qualified tax advisor regarding their situation.

Both sustainable investing and the Charitable Gift Fund make sense because they not only give our clients opportunities to use their money in a way that is aligned with their personal purpose, but they also can help clients make progress toward their financial goals.

These are examples of the kind of service that clients throughout the industry are increasingly coming to expect. They aren’t looking for just financial advice; in many cases, what they seek is more like guidance around holistic financial wellness. If you or your firm aren’t already offering these kinds of services – or planning to – the time to start is now.

Highest in Employee Advisor Satisfaction Among Financial Investment Firms

July 8, 2021/in Awards & Accolades, Experienced Financial Advisor, The Financial Advisor Opportunity Optional /by Symphony Talent

Awards & Accolades

Highest in Employee Advisor Satisfaction Among Financial Investment Firms

For the 12th time, Edward Jones Ranks “Highest in Employee Advisor Satisfaction Among Financial Investment Firms” by J.D. Power.

Based on responses from Edward Jones financial advisors, the firm earned an overall score of 890 points out of 1,000. This compared to the average score of 743 among the eight employee-channel firms measured by the J.D. Power 2021 U.S. Financial Advisor Satisfaction Study.

“This is a tremendous honor because it embodies our purpose of partnering to make a positive impact in the lives of our clients and colleagues, and together, benefit our communities and society,” says Kristin Johnson, Chief Transformation Officer for Edward Jones. “It’s been a challenging year for many investors, and our financial advisors, branch office administrators and home office associates have really come together as one Edward Jones team to serve our clients’ needs in a comprehensive way. This has included going beyond finances to focus on the well-being of our clients and their families, their health and yes, connecting with their purpose.”

This is a tremendous honor because it embodies our purpose of partnering to make a positive impact in the lives of our clients and colleagues, and together, benefit our communities and society.

Kristin Johnson, Chief Transformation Officer

Between January and April 2021, financial advisors were asked to rate their firms in terms of leadership and culture, products and marketing, professional development, operational support, technology, and compensation. Edward Jones ranked No. 1 in products and marketing, compensation and professional development.

“We are a place of belonging at Edward Jones – a welcoming and productive environment where people feel comfortable to bring their full selves to work and all can achieve their full potential – inclusive of their different backgrounds and experiences,” Johnson added. “That feeling of belonging translates into supportive behaviors such as willingness to recommend. It also is what enables our firm to grow its impact and add value to our clients, colleagues and communities.”

Edward Jones received the highest score among employee advisors in 12 J.D. Power advisor satisfaction studies, which were completed in 2007, 2008, 2010, 2012-2015, 2017-2021. The J.D. Power U.S. Financial Advisor Satisfaction Studies of employee advisors’ satisfaction is distributed among those who are employed by an investment services firm. Visit jdpower.com/awards for more details.

“The consistent success of Edward Jones in this study since it was first launched back in 2007 is a great testament to their organization’s commitment to delivering a superior experience to the advisor,” said Michael Foy, Senior Director and Head of Wealth Intelligence at J.D. Power.

Five Leadership Lessons Learned During the COVID-19 Pandemic

June 25, 2021/in Experienced Financial Advisor Optional /by Symphony Talent

Experienced Financial Advisor:

Five Leadership Lessons Learned During the COVID-19 Pandemic

by Ken Cella

While the COVID-19 pandemic certainly isn’t over, it does feel as though we’ve come far enough through it to gain some perspective on what we’ve learned during this unusual and challenging period. Even when we reach the point where we can put our face masks in a drawer for good, some lessons that have emerged certainly will continue to be relevant for many years to come.

1. Have a Clear Why

One lesson is having a clear why and the importance of being very clear about why you do the work you do, and why it’s needed in the world. The pandemic truly clarified the importance of being certain about your why – your purpose. After all, that strong sense of purpose helped us all push through and learn new ways to communicate when we couldn’t see clients and colleagues face-to-face, and it’s what kept us going on long days during the pandemic when so many aspects of our work seemed so unsettled.

2. Develop a Set of Guiding Principles for Decision-Making

We all remember the early days of the COVID outbreak, when every business was in crisis mode and trying to make decisions about how to adjust. At Edward Jones, when we realized our leadership team needed to make a series of critical decisions, our first step was to establish our guiding principles for times of uncertainty.

Doing so made it clear what was most important to us – taking care of our clients, valuing the contributions of each of our colleagues, and so on. These principles became a litmus test for all our decisions and allowed us to move quickly. Every financial advisor’s practice, no matter the size, can benefit from this kind of clarity in a crisis.

3. Be Comfortable Leading Without a Playbook

During a crisis, you will rarely have the luxury of time. And in some cases, the information you have at hand will be incomplete, or will conflict with other information you received from other sources. Your clients and your team won’t be able to wait. During times like this, you need to be comfortable with being uncomfortable.

Making decisions in these conditions can be unsettling, but if you have your guiding principles in place, they will guide you – and the people around you – to help you get it right.

4. Communicate With Knowledge and Empathy

As you likely heard when talking to clients and colleagues in recent months, the pandemic caused many people to feel anxious or even frightened. As a financial advisor and a leader, you have to keep in mind the emotions your stakeholders may be feeling, and adjust your interactions with them accordingly. Be patient. Listen more closely to what people are telling you. That empathy will go a long way with your clients and with your colleagues.

5. Be Purpose-Driven in Everything You Do

Finally, and most importantly, be purpose-driven in everything you do. Work with like-minded people who share your sense of purpose and are fully in it with you. When you’re fully purpose-driven, you’re better equipped to deal with rapidly changing circumstances, because you have a clear focus. That purpose serves as your north star, guiding all of your actions, allowing you to be decisive and effective.

An Alternative to Going Independent

April 26, 2021/in Experienced Financial Advisor Optional /by ndowney

Experienced Financial Advisor:

An Alternative to Going Independent

Woman conversing with couple over coffee

As technology and client service methods evolve, the financial services industry is experiencing a great deal of transition. The pandemic accelerated these changes and highlighted the need for financial advisors to understand clients’ changing investment goals. Many experienced financial advisors are rethinking how to:

Best serve their clients’ changing needs
Continue to advance and grow their practice
Achieve continued success in a changing environment.

Many experienced financial advisors are considering the best firm structure to achieve these objectives – and for those desiring more autonomy, that may mean exploring the independent model.

Finding the Right Balance

While going independent has its appeal, many experienced financial advisors come to realize that independence does not always provide their practice with the necessary support needed for long-term success. If you’re thinking about taking the leap to independence, you must not only consider impacts on your business objectives, but also the challenges (and even surprises) that come with operating in the model. For most, the optimal need is finding a unique balance of autonomy and home office support and structure.

Being Your Own Boss Can Be Costly

Although you can expect a much higher monthly payout when you operate in an independent business model, there are significant costs to consider before making a move, including:

Office equipment and furniture
Rent and utilities
Support staff wages and benefits
Marketing materials
Licensing and fees
Accounting and legal services
Regulatory, field supervision, compliance

The Best of Both Worlds: Independence + Support

For financial advisors who have an entrepreneurial spirit but also want the security and support of a larger, established firm, Edward Jones may be the ideal choice. Financial advisors have a firm-provided office in a community of their choosing, a branch office administrator to help manage daily activities and access to resources to help build a successful practice. This robust offering enables financial advisors to continue building their practice and stay focused on serving clients. Additionally, Edward Jones offers the support of a national, full-service brokerage with a large suite of products and the technology today’s financial advisors need to attract prospective clients and deeply serve existing clients.

The Support You Need to Succeed

In addition to a firm-provided office and branch office administrator, more than 6,000 home office associates are there to support your success. A dedicated team will ensure a smooth process as you transition your practice and your clients will benefit from specialized home office resources, including:

Client Consultation Group, which offers resources and expertise to meet the unique needs of your high net worth clients
Edward Jones Trust Company adds a dedicated Portfolio Manager and Trust Officer to the client’s service team. A team of trust professionals can provide the depth and breadth of experience to meet even the most complex trust needs, working directly with the branch teams. Services include trust administration; beneficiary assistance; investment management; management of special assets like real estate, agriculture and oil/gas interests; and fiduciary tax reporting.
Edward Jones Advisory Solutions® – one of the largest mutual fund advisory platforms in the industry

The Edward Jones Branch Team Business Model

Our unique branch team business model allows you to:

Develop strong client relationships focused on their long-term financial goals
Operate with autonomy, creating your own work/life balance
Enjoy unlimited growth potential
Offer your clients a full range of financial products

Experience a collaborative culture with the support of the wider Edward Jones network, including other local financial advisors.

A Personal Approach with Full-Service Resources

Edward Jones offices are designed to serve the financial needs of investors within their community. Our financial advisors build lasting relationships with their clients – based on a long-term investing strategy.

While the high level of service Edward Jones offers is personal, our investing expertise, technological know-how and full range of financial solutions give our financial advisors the ability to meet the most sophisticated investors’ needs.

Does the Edward Jones Difference Make It a Better Choice for Your Practice?

We believe so.

Unlike many financial organizations, Edward Jones purposefully remains a privately owned partnership. Without having to meet the short-term expectations of shareholders, Edward Jones can support its financial advisors in growing their practices.

It’s also important to consider that at Edward Jones, we have a single profit center: our financial advisors serving their clients. That means financial advisors have the freedom to recommend solutions based on clients’ needs, rather than product quotas. Simply put, clients come first.

As the industry continues to shift, the Edward Jones opportunity provides financial advisors with the freedom, flexibility and support needed to successfully build their practices by deeply serving their clients.

Learn more about taking your practice to the next level at Edward Jones.

Balancing Freedom with Compensation Certainty

April 26, 2021/in Experienced Financial Advisor Optional /by ndowney

Experienced Financial Advisor:

Balancing Freedom with Compensation Certainty

It’s no surprise that compensation is a leading factor when financial advisors are considering changing firms. In the AdvisorHub study on brokerage-firm culture, done in partnership with Edward Jones, financial advisors said compensation was the top reason they’d consider leaving their current firm. While going independent is tempting for financial advisors looking to make a change, it may present considerable compensation uncertainty.

In a competitive landscape, recent enhancements to Edward Jones’ compensation structure are giving experienced financial advisors a strong reason to consider moving their practice to Edward Jones. The difference? Edward Jones compensation plans are designed to set up experienced financial advisors for success, individually evaluated and providing a competitive salary based on the assets they bring to the firm.

Transitioning experienced financial advisors can own their success on day one and avoid the compensation risk of independent practice. It’s the best of both worlds – support from a home office and autonomy to grow their practice independent of firm sales goals. Edward Jones financial advisors run their own offices, set their own goals and partner with clients on achieving their financial and life goals – and compensation reflects success in those efforts.

There are no loans in the Edward Jones compensation package. No upfront or back-end payments requiring certain production levels. No claw backs and financial advisors are not contractually bound to the firm for the long term.

As a private partnership, Edward Jones has long held a transparent compensation philosophy – with less complexity and fewer modifications compared to the industry – that helps financial advisors uniquely realize their potential. First and foremost, compensation is commensurate with a financial advisor’s experience and practice maturity. New plan features are designed to optimize the financial opportunity and are tailored to support an individual’s unique practice. Key features include:

12 Months Salary: The firm will provide salary for the first 12 months based on the portability of the financial advisor’s previous assets. All commissions and fees are additive, so it closes the gap between prior year income and the commissions earned during the transition.

New Asset Compensation: Edward Jones will compensate financial advisors for new assets gathered and brought to the firm for the first 24 months.

Bonus Compensation: Financial advisors are eligible for profitability bonuses on their start date, which are paid on a trimester basis.

No “Loans”: There are no loans in the Edward Jones compensation package. No upfront or back-end payments requiring certain production levels. No claw backs and financial advisors are not contractually bound to the firm for the long term.

This “no ceiling” compensation approach is why some come – and stay. In fact, since 2016, approximately 80% of financial advisors who joined Edward Jones from other firms remain today.

For experienced financial advisors considering a transition, Edward Jones balances freedom and flexibility with the certainty of a salary. Edward Jones financial advisors are rewarded for their hard work in the short-term and provided with the support they need to reach their full potential long-term. Learn more about compensation for experienced financial advisors at Edward Jones.

Building a Long-Term, Client-Centric Investment Business: Kevin O’Hagan

October 22, 2020/in Experienced Financial Advisor Optional /by myto

Experienced Financial Advisor:

Building a Long-Term, Client-Centric Investment Business: Kevin O’Hagan

Kevin was with one of the Canadian banks before joining Edward Jones four years ago. He felt restricted in his personal and professional growth when he started to explore other avenues. After speaking with several Edward Jones advisors in his region, the opportunity began to feel like a perfect fit, and years later, he is sure he made the right decision.

“Prior to Edward Jones, I worked for one of the big five Canadian banks in a business development role sourcing new investment relationships. I did this for over eight years, but over time, I felt the excitement and mental growth component diminish as did my desire to keep doing this for another 20 years. I was no longer challenged intellectually and wanted to continue growing personally.

“I explored a variety of opportunities that would allow for my personal growth and ability to serve clients. I evaluated bank brokerage channels, insurance companies as well franchise models in the financial industry. None really fit the ability to service clients in a manner that appealed to me, as the corporate agenda always seemed to overshadow my needs and those of my prospective clients. I always wanted to work for a firm that would value my input. I also knew I wanted to be a part of a larger organization to satisfy my need for the social aspect of professional life, which was important alongside my career growth objectives.

“I was approached by Edward Jones, and not knowing a lot about the firm, to be honest, initially I didn’t give it much consideration but told myself to be open-minded as good things can come from new experiences.

“It was only after the regional leader challenged me to explore the opportunity that I started to see that it was exactly what I’d been looking for. The region’s financial advisors took the time to answer all my questions and explain the Edward Jones opportunity so that I could make an informed decision.

“After some time, I realized that Edward Jones was the right place for me: I felt that I could work within the independent model that also allows for guided support. It took me some time to understand the way the firm operates as it was a big step away from a corporate environment. I started to see that it was not only about profit at Edward Jones. I came to understand that the firm is all about partnering with you to build a long-term client-centric investment business.

“It’s been almost four years since I started, and I know that I made the right decision to join this firm. I look forward to many more years of helping the firm build a stronger position in the Canadian investment landscape whilst servicing more investors as we continue to hire new and develop existing financial advisors in pursuit of this dream opportunity.”

If you’re ready for a rewarding career as a financial advisor, you can learn more about the opportunity or find an opportunity near you to connect with a recruiter. Connect with Kevin on LinkedIn.

There’s No Ceiling on a Woman’s Potential at Edward Jones

October 7, 2020/in Experienced Financial Advisor Optional /by myto

Experienced Financial Advisor:

There’s No Ceiling on a Woman’s Potential at Edward Jones

Read the transcript or view the audio described video.

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Coming Full Circle with Edward Jones: Bernie Franko

August 7, 2020/in Experienced Financial Advisor Optional /by manjunath

Experienced Financial Advisor:

Coming Full Circle with Edward Jones: Bernie Franko

Meet Financial Advisor Bernie Franko from Greensboro, North Carolina, who recently shared with us why he decided to join Edward Jones – twice. Bernie first came to the firm as a financial advisor in 1998 after working as an intern for his parents’ financial advisor.

Bernie eventually decided to pursue work at a smaller firm and left Edward Jones in 2002. During the financial crisis in 2008, the firm was acquired by a larger bank. Bernie decided to return to Edward Jones in 2014. Today, he serves on his region’s growth team and is actively involved in the region.

Why did you return to Edward Jones?

“I returned to Edward Jones because I knew the consistency and the stability of the firm. I understood the value of what the firm has to offer, and that always appealed to me. Previously, I had worked in an office of 30 people, but it wasn’t the same collaborative spirit.”

How was the transition for you and your clients?

“It’s been fantastic for my clients and my family. I give kudos to Jill Willard, my Senior Branch Office Administrator (BOA), who has been enormously helpful in my transition back to the firm. She has made a huge difference in providing better service and building more trust to our clients.”

“It’s nice to have an experienced professional dedicated entirely to serving our clients and to partnering with me. Clients who moved with me tell me how much they appreciate receiving better service at Edward Jones. I feel grateful and privileged to be back.”

What improvements have you noticed since you left the firm?

“The biggest improvement I see is in our client-facing tools. They’re engaging and easy to use. Clients are more comfortable, which builds greater trust, so I can dive a little deeper. I use the Financial Foundation tool to create scenarios and change data live on the screen. I can make it as complex or as simple as needed, which offers a real service to our clients.”

“Also, I now can show my clients what they really want to know, such as how their investments are performing in real time and when they can retire. It helps transition the conversation from being about investment performance to helping them work toward achieving their goals. It’s wonderful to do a presentation for clients and share that their financial picture allows them to make decisions that they want to make, not ones they have to make.”

What do you see as the Edward Jones Opportunity?

“I serve on the growth team now and share my story with candidates because I’ve seen both sides of the fence. I tell them about the certainties here and that our firm is a stable partnership. I tell them about the support we receive from a dedicated BOA and from the home office.”

“Finally, I tell them about the advantages of our business model and how we value independence. We don’t use a “top-down” approach with a branch manager driving the business focus. The real opportunity at our firm is to run our own practice with the support of our home office. I can tell a difference when I call the home office at Edward Jones, compared to where I was before. The people I talk to are eager to help. And, thanks to our partnership business model, we can take the long-term view and do what’s best for our clients.”

If you’re thinking about what’s next in your career, consider learning why the Edward Jones financial advisor opportunity may be the investment of your lifetime.

Finding Freedom in Returned Opportunity: Chad Burkhalter

August 6, 2020/in Experienced Financial Advisor Optional /by manjunath

Experienced Financial Advisor:

Finding Freedom in Returned Opportunity: Chad Burkhalter

Chad Burkhalter made the challenging decision to leave Edward Jones to pursue the role of an independent financial advisor. 12 years later, he’s returned. We sat down with him to learn why he chose to bring his practice to Edward Jones.

What made you return to Edward Jones?

I missed the camaraderie and the relationships I built with other people. The downside of being on your own is that you’re really on an island.

How are you able to focus more on clients with Edward Jones?

I have the opportunity to run my business the way I want, without having to worry about payroll, office problems and anything else that could go wrong with running a business. Since I don’t have to spend time working on those things, I can completely focus on my clients.

What are the advantages of working with Edward Jones?

We train our financial advisors, and everyone has the opportunity to grow. When someone is an independent financial advisor, that type of support doesn’t exist.

What do you see as the biggest opportunity of working at Edward Jones?

We all have the freedom to run our practices and focus on our clients. If someone is willing to do the work, the opportunity is limitless. What we put into this opportunity is what we get out of it – there are always new ways to challenge ourselves, continue to grow and take our work to another level.

Considering a new pathway? Discover if the financial advisor opportunity may be right for you and how Edward Jones seeks to develop your continued ambition.

Firm Culture – How Important Is it to Your Success?

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Clients Want to Connect Purpose and Investing – and We Can Help Them

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Highest in Employee Advisor Satisfaction Among Financial Investment Firms

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Five Leadership Lessons Learned During the COVID-19 Pandemic

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1. Have a Clear Why

2. Develop a Set of Guiding Principles for Decision-Making

3. Be Comfortable Leading Without a Playbook

4. Communicate With Knowledge and Empathy

5. Be Purpose-Driven in Everything You Do

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An Alternative to Going Independent

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Finding the Right Balance

Being Your Own Boss Can Be Costly

The Best of Both Worlds: Independence + Support

The Support You Need to Succeed

The Edward Jones Branch Team Business Model

A Personal Approach with Full-Service Resources

Does the Edward Jones Difference Make It a Better Choice for Your Practice?

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Balancing Freedom with Compensation Certainty

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Building a Long-Term, Client-Centric Investment Business: Kevin O’Hagan

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There’s No Ceiling on a Woman’s Potential at Edward Jones

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Are you currently a financial advisor & ready to learn more ?

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Coming Full Circle with Edward Jones: Bernie Franko

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Why did you return to Edward Jones?

How was the transition for you and your clients?

What improvements have you noticed since you left the firm?

What do you see as the Edward Jones Opportunity?

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Finding Freedom in Returned Opportunity: Chad Burkhalter

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What made you return to Edward Jones?

How are you able to focus more on clients with Edward Jones?

What are the advantages of working with Edward Jones?

What do you see as the biggest opportunity of working at Edward Jones?

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