When it comes to the amount of money they manage, Edward Jones is near the top of the wealth management rankings. They are in second place, between UBS and Credit Suisse:
You may already know this, but places like Edward Jones and Charles Schwab don’t work at all like the wealth management departments of big investment banks. e. , UBS, Goldman Sachs, Credit Suisse, JPM, etc. ).
The goal for Edward Jones has always been to serve clients of all levels of wealth, not just the richest few percent, which is what the wealth management and private banking departments of the bigger investment banks have wanted in the past.
This helps explain why Edward Jones has so many more financial advisors than, say, Credit Suisse, which has fewer wealth managers. Many times more clients means that Edward Jones needs a lot more financial advisors to handle all of those clients. The firms may have similar amounts of money under management.
That being said, as we’ve talked about in many previous posts, big investment banks’ wealth management has been moving downstream for years, trying to get clients with less money than ever before.
For many years, it was safe to say that firms like Edward Jones and Charles Schwab catered to the upper middle class, while Goldman Sachs and J.P. Morgan were more for the elite. P. Morgan serve those with true levels of wealth, but that’s an entirely unfair characterized these days. In reality, Edward Jones has a lot of financial advisors who handle hundreds of millions of dollars in client assets. These advisors regularly work with clients who could go to any other wealth management firm if they wanted to.
The interview process is one big difference between how a company like Credit Suisse works and how a company like Edward Jones works. Charles Schwab and Edward Jones are much more open to hiring new financial advisors, giving them some training, and then letting them get to work.
On the other hand, training will be more intense at a firm like Credit Suisse or the wealth management division of any other large investment bank. You may not even be able to start looking for clients right away (i.e. e. , you may need to help others before striking out on your own).
Edward Jones is more of a “sink or swim” employer, which means that the interview process isn’t as tough and the questions aren’t as hard. I’m personally less familiar with Edward Jones than I am with Goldman, JPM, etc. but I thought I’d give you some interview-style questions because if you can do well on a GS, JPM, etc. interview than you’ll have no troubles at Edward Jones.
Landing a financial advisor role at Edward Jones requires you to demonstrate your skills and experience during the interview process. This prestigious wealth management firm seeks advisors who align with their values of building long-term client relationships based on trust and personalized guidance.
Prepare for your Edward Jones interview by reviewing these commonly asked questions along with example responses:
1. Why are you interested in becoming a financial advisor at Edward Jones?
With this first question, the interviewer wants to see how interested you are in working for their company instead of just looking for any financial advisor job. Show enthusiasm for their client-focused, relationship-based approach to investments and financial planning.
Sample Answer: I am very interested in becoming a financial advisor at Edward Jones because I strongly align with the company’s values of developing genuine, long-term relationships with clients. I appreciate the emphasis on truly understanding each client’s unique financial situation and goals, then creating customized solutions. I want to help everyday investors reach their objectives through personalized guidance and continuing education. Edward Jones’ one-on-one advisor approach enables the trust-based relationships I value.
2. What does excellent customer service mean to you as a financial advisor?
Financial advice is an intangible service where client relationships are paramount, Share your philosophy on how to best serve clients and make them feel valued,
Sample Answer To me excellent customer service as a financial advisor means taking the time to truly understand what each client needs from me then exceeding those expectations every step of the way. It requires active listening first, then providing tailored solutions and education so the client feels empowered in their financial decisions. Excellent service also means being available to answer questions in between scheduled meetings and reviewing strategies regularly to adjust to life changes. My goal is developing relationships where clients trust I always have their best interests in mind.
3. How would you approach an angry or upset client?
Financial decisions can be emotional and stressful for clients. The person interviewing you wants to know that you can handle these tough situations with empathy and good communication. Share your strategy to de-escalate and get conversations back on a productive path.
When I have a client who is angry or upset, I would first listen carefully to understand why they feel that way without defending myself. After they told me what was bothering them, I would listen, say I was sorry for any mistakes, and reassure them I was here to help get things back on track. My goal would be to find ways to solve the problem at hand and stop it from happening again. I would also check in with them after our meeting to make sure all of their needs were met. Building trust requires being accountable as an advisor.
4. How do you stay up-to-date on financial regulations, markets and products?
Ongoing learning is key for financial advisors to provide sound guidance. Discuss the habits you practice to continually expand your industry knowledge and discover better ways to serve clients.
Sample Answer: Staying current in the financial industry is very important to me. I read industry publications daily, take continuing education courses annually, and regularly attend conferences and training sessions to expand my knowledge. I also make a point to follow financial news closely, particularly regulatory changes, so I can alert clients of any relevant updates. Additionally, I network with other advisors to learn alternate approaches that may benefit my clients. I consider continuing education vital in this fast-changing industry in order to provide the most informed guidance.
5. What tools and resources do you rely on daily as a financial advisor?
The interviewer wants to hear about the systems, software, information sources and other tools you use regularly to be effective in your advisor role. Share the resources that help you best serve clients.
Sample Answer: In my current financial advisor role, the tools I rely on daily include our client relationship management system, financial planning software, real-time market data platforms and retirement calculators. I also frequently utilize industry benchmarking and investment performance reports to make data-based recommendations. Office productivity software helps me stay organized across all my client accounts and sales literature assists with clearly explaining products. Ongoing training resources also help me improve as an advisor. These tools allow me to perform diligent research and deliver excellence to clients.
6. How would you go about acquiring new clients?
Business development is an important part of the financial advisor role at Edward Jones. Share proven tactics you have implemented to build your book of clients through prospecting and networking.
Sample Answer: My approach to acquiring new clients involves a few key strategies. First, I tap into my existing network by asking current clients for introductions to family and friends who may need financial guidance. I also network consistently within the local community by attending events to meet potential clients. When I interact with prospects, I focus on listening to understand if our services would be a good match. Additionally, I look for speaking and writing opportunities to demonstrate my expertise. The goal is always gaining new clients through educational, value-added interactions, never aggressive sales pitches.
7. How would you describe your investment management style?
Understanding your philosophy as an advisor helps match you to clients with aligned risk-tolerance and goals. Share your approach to developing investment strategies. Be specific about the asset types you prefer to utilize and your methodology.
Sample Answer: My investment management style is primarily focused on long-term growth for clients. I construct customized, well-diversified portfolios using a strategic asset allocation approach based on the client’s timeframe, goals and risk appetite. I often utilize low-cost, passive index funds and ETFs for the equity component, combined with actively managed mutual funds for fixed income. I rebalance portfolios annually and ensure appropriate liquidity levels for each client’s needs. My goal is helping clients meet objectives through consistent, risk-adjusted returns over time, not chasing unsustainable performance.
8. How do you handle a situation when a client disagrees with your recommendations?
The interviewer understands advisors and clients won’t always see eye-to-eye. They want to see you can maintain positive relationships even during disagreements. Share your conflict management approach of listening first and finding compromise.
Sample Answer: When a client disagrees with my recommendations, my approach is first making sure I fully understand their objections while remaining patient and professional. I then walk through my rationale again and offer to provide any data or information that may address their concerns. If we still don’t agree, I suggest adapting my original recommendation to a solution that works for both of us. My focus is always on preserving the client relationship, even if we don’t achieve total consensus. Their trust is most important.
9. How do you balance acquiring new clients with providing excellent service to existing clients?
Growing your book of business must not compromise the care you provide long-time clients. Share how you effectively juggle these two priorities. Strategic time management is key in your answer.
Sample Answer: Balancing new and existing clients requires tightly scheduled days and thoughtful time management. I dedicate set blocks of time for prospecting, outreach and meetings with potential new clients. The bulk of my week is spent meeting with current clients and monitoring their accounts. I schedule frequent reviews to touch base and update strategies if needed. Clients always receive priority for any urgent needs. I also leverage collaboration with our team for tasks like marketing and administrative work. Keeping a focus on both acquiring and retaining clients is essential.
10. Where do you see your financial advisory career in 5 years?
This closing question provides insight into your growth expectations and loyalty. The interviewer wants to hear you are committed to building your career at Edward Jones.
Sample Answer: In the next 5 years, my goal is to build up my book of clients here at Edward Jones into a thriving practice. As I help more families meet their financial objectives, I hope to move into a senior advisor role with the experience to mentor newer advisors. I aim to be the trusted resource my clients turn to first for all their investing and financial planning needs. I’m excited by the opportunity to establish myself in this local community and one day manage an Edward Jones branch office. This aligns perfectly with my long-term career aspirations.
Edward Jones Financial Advisor Interview Questions
Below are some of the interview questions you could get at Edward Jones. That being said, I tried to pick some that are a little tougher but still might come up in the interview.
If a client wanted to be overweight cash due to economic uncertainty, what would you advise them?
When the economy is uncertain, clients often get scared by the market (especially when stock prices are falling) and want to switch their investments to cash.
When inflation is less than 2%, that’s not always the worst thing that could happen. However, you should tell your client that they need to think about their real wealth instead of their nominal wealth in this day and age. In other words, they need to be thinking about their wealth after adjusting for inflation.
So, if inflation is 4% next year, having all cash is the same as getting a -4% return. That’s better than putting all their money into stocks in case they drop even more, but because interest rates are so high right now, there are many cash-like options that could give them a return that either matches inflation or lessens its effects.
For example, a client could put their money into short-dated treasuries (i.e., the two-year treasury) and earn around 4% over the next year. Alternatively, they could allocate into TIPS (treasury inflation protected securities) that have a coupon rate indexed to CPI to insulate themselves fully from the impact of inflation.
Both of these options have the benefit of being short-duration (i. e. You’re not locking up your money for months or years, and you’re giving your clients a small amount of money back, which should at least keep their return profile flat.
Edward Jones Interview Questions with Answer Examples
FAQ
How do I prepare for a financial advisory interview?
Why do you want to be a financial advisor at Edward Jones?
What is the Edward Jones assessment test?
How long does the interview process take at Edward Jones?
What is the interview process like at Edward Jones?
I interviewed at Edward Jones Long and thorough process – took about a full month to go through interviews, background check, finger prints, etc. They offer great training once you are hired and bonus incentives. Questions based on my learning habits. I interviewed at Edward Jones (Saint Louis, MO) It was a great interview process.
How many interview questions does Edward Jones have?
Share Your Experiences Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job that’s right for you. Edward Jones interview details: 1,589 interview questions and 1,433 interview reviews posted anonymously by Edward Jones interview candidates.
How do you interview a financial advisor?
Begin by talking with a recruiter and then meet with the financial advisor who has a standard list of questions to ask. They ask many situational questions and common interview questions. I interviewed at Edward Jones (Maryland Heights, MO) Over the phone interview that lasted about 30 minutes and consisted of many stereotypical questions.
Why should financial advisors work with Edward Jones?
Edward Jones clients in the test markets have been saying ”they really appreciate the opportunity to engage with a larger group of people to support them in their financial advisor’s office, and financial advisors are enjoying the culture of collaborating around unique client needs,” she added.
