Edward Jones Raises Recruiting Target

Training magazine ranked it 15^th in its 2012 Training Top 125 list and recognized its Practice Makes Perfect initiative, which emphasizes role play, with one of five Best Practice awards.

“The associates in our branches–financial advisors and branch office administrators–are key to our firm’s success. Training them to serve clients well has always been a top priority,” said Jim Weddle, managing partner of Edward Jones, in a statement. “We appreciate getting outside recognition but satisfied clients are the best confirmation that our training is the industry’s best.”

The role playing, according to Alm, takes place in a suite with 12 rooms, representing homes and businesses. “Trainee advisors move around in teams doing role-play activities in different client situations,” he shared. “They are videotaped and get the tape on a flash drive, so they can take it with them and review it later. I don’t think there is anything else like this in the industry.”

Such efforts, Alm says, contribute to both higher production and assets, as well as more households as clients and lower advisor attrition.

Only a small fraction of those hired as trainees join Edward Jones with a securities license, he notes. But a majority of the trainees will go into business with some assets that they have “inherited from other advisors.”

As for veteran reps, close to 170 teams recently completed training programs that included practice-management exercises and role play.

“What Edward Jones has done, with about 200 staff members in our training group, is make a very substantial investment in our training and support of the advisor,” Alm said. “This is very effective in taking those without experience and giving them the regulatory training, licensing and other help they need … to allow them to build a business to successfully serve clients.”