Does anyone know if Edward Jones will give you a sign on bonus if you are fully licensed? Also, what are everyone’s opinion of Edward Jones right now.

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EDJ doesn’t write a fat (forgivable loan) check to bring your book over, but the comp and bonuses seem really solid. Depending on where you’re looking to locate they may also have an open office or retiring advisor with assets they could share to incentivize the switch.

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Talk to the RL of where you want to go about different compensation and the recruiter from HO. Up front may not be as good and you’ll think it’s an insult if you’re just chasing the money vs the company culture and freedom. You’ll have a guaranteed salary and you can start working toward profitability bonuses, trips, and partnership day 1. I don’t work in wealth management just for the pay (it def helps and helped me get out of a previous career) but I find the people who are bitter about jones are looking for their highest payout VS the overall impact.

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Do you have a book? If so, go anywhere else. I can help you talk through your options. Former joneser

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Fucking bullshit.

Ed Jones is like the McDonalds of the wealth management world. If you have a book, you go to an RIA or to an Independent BD like LPL, if you don’t then you go to a bank program. If you can build a solid book somewhere else then god bless, but that’s usually how it is.

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For a Financial Advisor role or some other position?

I want to say there’s definitely something you’d get. I know for a fact that you’d get new asset bonuses, so if you were to bring over your book of business, there’s a scale on a monthly basis for your first 5 years. It starts as a bonus $4 per $1,000 brought in. So if you brought over $1 million you’d get $4000. Now the amount per thousand decreases based on the amount, so if you brought in $5 million in a month, you’d make a bonus of about $15k for that month

Most other full service firms are gonna pay you more than 200k if you bring over 50mm from your prior firm.

Those are all things that I have talked to them about. I hear a lot of advisors have been leaving jones recently. I am wondering about the culture and the fit for an advisor as well.

Is there any way to keep your clients that you bring? I know some big companies also have independent divisions as well.

Not currently. They’re working on an independent side. Doesn’t exist right now. Wouldn’t hold my breath.

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