Edward Jones: What advisers think

[Text by J.D. Power and Associates]
Edward Jones ranks highest in overall satisfaction with a score of 876 (on a 1,000-point scale) and achieves the highest index scores in six of the 8 factors that comprise the Employee Adviser Satisfaction Index Model.

Edward Jones performs particularly well in both the Work Environment and Job Duties factors. Edward Jones excels in the Work Environment factor, with an index score (933) that is 30 points above the next-closest competitor. While the majority of advisers with Edward Jones work in small branch offices typically staffed by one adviser, the firm provides the highest number of employer-sponsored social events of any firm surveyed (5.5 vs. 2.6 industry average)—with the sponsoring of 2 or more social events being a Key
Performance Indicator. These events allow advisers to interact with each other to improve morale and teambuilding across the firm. Additionally, these smaller branch offices provide advisers with the ability to work independently and allow for a more entrepreneurial spirit. This is further validated by the fact that Edward Jones rates among the highest performers on the Brand Image attribute for Entrepreneurial (5.81 on a 7-point scale) compared to the industry average of 3.63.
Job Duties (921) is another key strength for Edward Jones, which is driven by a strong performance on Amount of challenge provided by your work (a rating of 9.06 on a 10-point scale) and Amount of non-client service work you are expected to do (e.g., paperwork, compliance/administrative related) (8.16). The percentage of time Edward Jones advisers spend on compliance-related tasks is the lowest in the study (10%), which allows advisers to focus on servicing their current clients and growing new business. Advisers with Edward Jones lead the industry on the percentage of time spent on new business development (27%).

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