I have been at Edward Jones for almost three years now I started as a branch office administrator working underneath a financial advisor, just not making trades or giving advice, after a discussion with the FA, I was leaning towards a Goodknight plan with him to become an advisor. So, I took my SIE, series 7, and series 66, I also obtained my life insurance license.
This is now my 6th month in the field as an advisor, so far what I have learned about Edward Jones is that you do have a lot of freedom as far as scheduling goes but with that freedom comes intense prospecting and building your own book based off of the little base you get with the good knight plan. It is important to note that I am in my late 20's, so having a good friend/ family base of wealthy people who could potentially be good clients is not really in my wheelhouse at the moment. I am also located in a very rural area that is not filled with businesses or a lot of opportunities. So, my job has been a lot of going business to business and going to a lot of events to try to build relationships quickly to bring in the assets to meet the numbers. I have had a really slow start to my practice and also something to consider is there are nine other Edward Jones advisors alone in my area.
Just a little more insight to how I am doing so far in my practice, there is a 6 month asset goal that they would like you to be at, and I am just barely under that. I would like to say that I am fairly good at talking to people and for customer service, where I am hindered is, not having a good trainer, not understanding my job at a full scope, and not feeling organized. I feel like every day is a fight and every month is a slog to get to the point I need to be and I still feel like I'm falling a little short, so I don't know if some of that is growing pain or if some of that is serious concern. My main desire is to have a stable income to support me and my wife and with where I'm at right now feels like I'm barely scraping by plus the world economy adds to that, so I am aware that that's also a factor.
This pressure has caused me to start reflecting on my opportunities and how far I can make it in this business and also seeing what my potential opportunities are for the future. I am not the smartest guy in the world, and I also don't really understand what my options are in this financial environment. I am seeking some advice or help from people who may have worked their way Through the financial world and can break down in layman's terms potential opportunities or a better path for me better path for me.