Bob was an engineer for 20 years before he decided there were no more growth opportunities and he needed a change. He was always interested in financial planning, and he wanted to create a business that he could leave to his children. That’s exactly what he was able to do at Edward Jones.
“I graduated with an engineering degree and worked in that capacity for 20 years. The company I was with was downsizing, and though I didn’t have to leave, I was looking for a change as I didn’t see any growth opportunities there. I was interested in financial services, and I wanted to build something that I could leave to my children. That is what attracted me to Edward Jones.
“I saw an FA recruiting ad in The Globe and Mail and joined the firm in March 1995. I went through the financial advisor training in St. Louis and started building my business in July 1995. It was a high-risk transition for me. I wasn’t being laid off from my old company, but I also understood that if I did the FA work, I could be highly successful. I was surprised I was hired without experience in the financial industry, but Edward Jones offered robust training programs. What they needed were people who demonstrated success.
“Two and a half years later, I was asked to become a regional leader because I was able to grow my business tremendously. I became a limited partner a year later and joined the general partner ranks in 2001. I stepped out of the regional leader role in 2012 but continued to build my business.
“I have three children. My youngest daughter graduated from Ivey Business School. My hope was that she would take over, but she became a naturopath. My oldest daughter was not interested at all, and my son had gone to South Korea to teach English. He graduated with a degree in sports management but then took interest and got a diploma in financial planning. He was working at another financial firm.
“In 2015, he joined me in my office, and I transitioned some of my client relationships to him through an asset sharing plan. After that, I decided to move forward with the firm’s Retirement Transition Plan, which allowed me to transition my clients over a two-year period to my successors. Together, we managed a fairly large amount of assets at our branch. The Edward Jones’ Retirement Transition Plan allowed us to decide how many FAs we could share these assets with. I was able to transition up to one-third of the assets to my son. The rest was transitioned to other Edward Jones Financial Advisors in our community.
“I am nearing the end of the two-year transition and will retire soon. It’s the best succession plan I have seen because, unlike some other firms, I didn’t have to find someone to buy my book of business. My dream came true. My son took over a successful business I had built. That was one of the main reasons I joined Edward Jones.”
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.