Veterans Can Use G.I. Bill Benefits As They Transition to a Financial Services Career at Edward Jones
Missouri Approves First-of-Its-Kind Program; Under Consideration by States Nationwide
ST. LOUIS, May 17, 2012 /PRNewswire/ -- Financial services firm Edward Jones today announced a first-of-its-kind program for military veterans that features enhanced training and mentoring and also meets federal requirements for on-the-job training under the G.I. Bill.
The Edward Jones program, FORCES, includes tailored training, mentoring and a structured compensation package designed to meet the unique needs of veterans transferring to a civilian career. Tapping benefits under the G.I. Bill is not a requirement of the program, but it is an option for those who qualify. The amount of benefits available is determined by factors including Chapter of Entitlement, years of service and, under Chapter 33, location of employer, and is paid directly to the veteran during the initial six months of employment and training with Edward Jones.
Each State Approving Agency must approve the program for use. So far, the Missouri State Approving Agency within the Missouri Department of Elementary and Secondary Education's Veterans Education and Training Section has given approval. Other states are reviewing the program now.
"Edward Jones has a long history of hiring veterans because they make excellent financial advisors," said Jim Weddle, managing partner of Edward Jones. "Currently more than 11 percent of our financial advisors – 1,300 – plus are veterans and that's a number we'd like to increase. The skills and discipline embraced in the military are absolutely transferable to a career as a financial advisor."
The FORCES program is specifically designed for people without a financial services background but possess the skills and qualities that would make a successful Edward Jones advisor. Those eligible for the program include veterans and qualifying dependents with G.I. Bill entitlement/OJT benefits as well as non-military population holding advanced degrees such as a legal or medical degree or those with an MBA and who have less than 3 years of professional work experience.
"The unemployment rates among veterans is an alarming issue. It remains a sobering fact that many of those who have served their country return home without a path for gainful employment and a successful career," said Chad Schatz, President of the National Association of State Approving Agencies and Director of the Missouri Veterans Education and Training Section and SAA. "Edward Jones has developed a unique program to make it easier for veterans to transition to a meaningful and desirable career."
Edward Jones' research has shown that 90 percent of individuals surveyed believe skills gained in the military are transferable to post-military careers and nearly 60 percent believe those skills are specifically applicable to a career as a financial advisor. The survey, conducted by ORC(1) on behalf of Edwards Jones, also found that people favored doing business with a veteran-turned-financial advisor because of their discipline (77 percent), goal-orientation (73 percent) and integrity (72 percent). Six in 10 Americans (61 percent) said they would like to work with a veteran to thank them for their service to the country.
Edward Jones was recently recognized by CivilianJobs.com as a winner for the 2012 Most Valuable Employers (MVE) for Military®. According to a recent study by J.D. Power and Associates, Edward Jones financial advisors rated the firm "Highest in Employee Advisor Satisfaction among Financial Investment Firms." Additionally, this year Edward Jones was named a best company to work for by FORTUNE magazine, ranking No. 5 on that prestigious list, and was ranked a best company for training by Training Magazine, the 12th consecutive year the firm has earned that honor.
To learn more about the program and apply visit: http://www.ejcareer.com/forces/.
For veterans looking to check on their entitlement, please call the VA's Toll Free Number, 1.888.442.4551 and visit its web site, www.gibill.va.gov.
About Edward Jones
Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm's 12,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.
Edward Jones, which ranked No. 5 on FORTUNE magazine's "100 Best Companies to Work For 2012," is headquartered in St. Louis. This is the 13th time Edward Jones has been included on this prestigious list. The Edward Jones Web site is located at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com. Member SIPC.
(1) These results are based on a national probability sample of 1,006 telephone interviews conducted among adults 18 years of age or older (502 males and 504 females) living in private households in the continental United States, conducted from March 8-11, 2012. The margin of error for data based on total sample is plus or minus 3 percentage points. The survey was conducted by CARAVAN®, an omnibus service of ORC International for Edward Jones.
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