Vantaggi
The best reasons to work for Edward Jones are they really do what is best for the client. They really do. They recommend only conservative investments, for instance, blue-chip stocks, investment grade bonds, and mutual funds and annuities from very reputable companies. The payout to the broker is fair. Another great reason is you get your own office with your own assistant with your name on the door. You meet with clients on a face to face basis and I believe clients like the one on one interaction. If you do a good job, Edward Jones really rewards you in several ways. They also have a buy and hold strategy for quality investments which conservative clients and those that don't want to do a lot of trading seem to like.
Svantaggi
Starting your business at Edward Jones is very difficult. You may have to work out of your house if an office is not open. This can be difficult if a client or prospect wants to meet with you and you are working out of your kitchen. A lot of the new people that come to Jones come from different backgrounds, not necessarily the financial services background, so the learning curve can be difficult. They also require you to make 25 face to face contacts when you start and go door to door and meet potential clients at their front door. They call this door knocking. Some people choose to knock on small business owners. Either way it is a tough way to start a business. They give you a salary for the first year or so and then you go to straight commissions. If you are not generating enough commissions at the start they will put you on "goals" , meaning you are required to hit a monthly target for gross commissions. Failing to hit these numbers could lead to termination.