Best regional ever!
-Guest speaker Tony Danza did a keg stand with my RL!
-Hooters catered! -Crystal in the open bar! -Jack Nicholson was staying in the same hotel, and I gave him my card when we were in the Jacuzzi! -Meth lab bust in the GP's room! -The wholesalers brought complementary Omaha Steaks gift certificates! the only negative thing about the whole weekend is that I have to wait another YEAR before I can do it all over again.Forgot to mention…the JOURNEY COVER BAND!!!
Geeze I'm just glad to see that Steve Perry found work! The "Anywayyouwantit's" rocked by the way.This dude weirds me out.
end of storyHAHAHA, that’s hilarious…my regional was no where near as exciting…when are they gonna stop making us go to this crap?
Probably the worst one I’ve attended. I’m just glad it was truncated by a day.
Every session turned into a discussion about how to move existing mutual fund clients into Advisory Solutions.maybe next year they can send us out camping, maybe toast a couple of marsh mellows around the fire, sing some camp songs, tell scary stories…now that would save the firm a couple of bucks instead of pushing for delayed quotes in the office…unbelievable…
My first meeting, was not impressed with the agenda or execution. The people I met were great for the most part - willing to share and offer advice. Got nothing from the sessions though.
Had hoped to walk away recharged … just left tired.
And so begins the exodus…
I don’t think there will be an exodus because of the lack of quality of the regional meeting. Sure, it was uninspiring, but not a reason for a mass exodus. BTW, you’re just one in a very long line of people predicting a mass exodus from Jones. So far you folks have been about as accurate as an online psychic.
There will never be a mass exodus from Jones for a couple of reasons:
1. They hire so many damn people. They will have an FA in your office 3 minutes after you walk out the door(if he isn’t waiting in the lobby already). Even if 20% of the firm left, there wouldn’t be an empty office.
2. People are stupid. Some guys who are doing and will never due more than 300K at Jones(slackers as we like to call them) should leave and set up there own shop and get more money. But they either don’t want to or don’t care to(slackers again)
3. Tough to break away from the Jones model without reinventing your business. Jones does a great job of separating the clients from you and attaching them to Jones. They have great branding(because there are so many of them) and are in every town(starbucks/mcdonalds).
4. Most of them are genuinely happy with making $100-$175K. They never thought they would get there in the first place.
5. The good producers have been there for years and don’t want to start over when they are nearing retirement.
6. That damn LP
I remember back in 2000 celebrating 10000 office!!! Wow. Now 12000 offices nine years later, sounds impressive! But you hire 100-200 new irs every month so 9yrs times 1500 per year =13500 ir hired over 9yrs. impressive %15 percent retention rate. Go green
I don’t think there numbers are that far off from other places in terms of retention
Retention at any firm will never be that high. At Jones, turnover will ALWAYS be high, because you will always have half the people leave in the first 3-6 months because (a) they can’t pass their tests, and (b) they realize they didn’t want to actually do this job (sell). Those two things alone knock out half the people that leave in teh first few months. It takes some people a bit longer to come to that realization, then a lot of people simply don’t have the financial means to last as long as it takes (at any firm) to make it. Then you have the people that get fired because they simply CAN’T make it work - they are either really bad at selling, have terrible personalities (prospects don’t connect with them), or they simply don’t want to work as hard as it takes to make it. Then of course there are people that decide this firm is not for them, or they decide to go to another firm, whatever.
Bottom line, I don't think you can "blame" Jones (or any firm) for turnover. Now matter how hard you try, a huge number of people will not make it from scratch in this business for all those reasons. It's just like the failure rate in starting any new business from scratch. The advantage the wirehouse firms have, is that they hire mostly transfer brokers that already "made it". But they lose just as many to other firms as they hire, so it's sort of just a revolving door of front-end checks between the wirehouses. Unfortunately, unless they ALL turn off that spigot, they will forever be paying front-end recruiting bonuses while watching others walk right out the other door to the other firms. Not that Jones is "right" for growing organically. I think the individual FA's get hurt worse in this environment versus the "front end check" world, because they are taking a leap of faith. A 500K producer at Merrill isn't taking on too much risk going to Morgan.I don’t think there will be an exodus because of the lack of quality of the regional meeting. Sure, it was uninspiring, but not a reason for a mass exodus. BTW, you’re just one in a very long line of people predicting a mass exodus from Jones. So far you folks have been about as accurate as an online psychic.
My prediction is only for the individuals on this site who have been so gung ho (the new guys), not in general. And I never predicted a "mass" exodus. Simply an exodus of a few. Blinders have been removed, time to take a look at what things are really like.
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I have considered leaving, not because of product offering but lack of leadership and direction within my region. That and I share my “office” with hot wheels, talking donkey’s, and all the other toys my kid has.
If I were not an indentured servant to Jones it would have been a done deal. But alas, they have me by the balls … so I can either pay the 5-10k I’d pay to get out of jail free or plow that into the business and see how my perspective changes once I’m in a more professional atmosphere and actually have someone to get my damn paperwork filed.
BTW the 75K is negotiable. I have a close friend that left in his first quarter and just settled for a 2K payoff. He originally owed the entire 75K.But alas, they have me by the balls … so I can either pay the 5-10k I’d pay to get out of jail free or plow that into the business and see how my perspective changes once I’m in a more professional atmosphere and actually have someone to get my damn paperwork filed.
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Wind,
Did they have you speak at the new IR break out session? That's a serious question, I'm also dating myself, it's probably new FA session..
They probably had him speak at one of the general sessions. Unless his RL has a nephew or son or niece or daughter that is doing not as well as wind.
What I'm curious to know is if you ever heard this?
"Wind, Why don't you share with us what you are doing to make yourself so successful." If you truly are so successful, which I have no reason to doubt that you are, that is something I would think they would want you to share. All you Jones newbies got screwed this year with the shortened and probably cheap version of the old summer regionals. I used to have a lot of fun on those! If only they wouldn't have made you go to the meetings..
Very humble response. You are learning young Skywalker.
wind is the New FA version of the Beatles.
Wind’s response carries a very different tone than the past, so maybe he is being more realistic, or maybe the pipeline is starting to become more realistic. I hope it is just him, but reality will hit at some point.
[quote=wind3574] [quote=voltmoie]d actually have someone to get my damn paperwork filed.
[/quote]
Amen…[/quote]
Sometimes I’m jealous of the guys opening 4-5 accounts per month. They get an extra 6-7 hrs a week to prospect while I’m on the phone with St. Louis, faxing crap, or trying to figure out some crazy annuity someone just handed me.
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i’m sure you can go load your admin off to your trainer/mentor’s boa, trust me when i say most of them have all the time in the world…
What’s your process for entertaining prospects? How do you set it up? Discuss during dinner?
I’ve not jumped in this end of the pool yet.
[quote=wind3574] [quote=jkl1v1n6] Wind,
Did they have you speak at the new IR break out session? That's a serious question, I'm also dating myself, it's probably new FA session. [/quote]
No, I haven't been out long enough to get any awards.[/quote] sorry...with your numbers you should be Rookie of the Year???....no?
[quote=Hey Kool-Aid][quote=wind3574] [quote=jkl1v1n6] Wind,
Did they have you speak at the new IR break out session? That's a serious question, I'm also dating myself, it's probably new FA session. [/quote]
No, I haven't been out long enough to get any awards.[/quote] sorry...with your numbers you should be Rookie of the Year???....no?[/quote]
He's got my vote
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they gave awards to a couple of ‘field trainers’ in my region who did absolutely nothing for their trainees simply because they made it past eval/grad…even though they were changed out for new trainers after eval/grad…the awards carry a lot of significance apparently…
Awards mean jack … net means everything.
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amen to that…otherwise they would have nailed me for attendance to segment trainings, QC meetings, and my half ass attendance at the regionals…exceeding is immunity…
Mary, are you Windy’s mistress? The … gives you away.
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Why am I doing this especially when I like iceco1d?
So are you saying all of these firms will front the money for an office build out? They will hire and pay for an office staff? They will sign an office lease (not you)? They will offer ownership (with a cost) to you? They will pay for all the costs of your licensing? This is not a "subjective" question of the value of these things. It is a question about the facts only. you said "Nothing. Zero, nadda, zilch, zippo." I don't think t is possible for any firms to be so identical that the above could be an accurate statement. Not that this will matter to anyone but I have been doing this a long, long time and I have lost exactly no sleep because I could not: Charge an hourly fee to take descretion to do a private equity deal in a non-publicly traded REIT off the coast of Venezuela while I was leveraging a hedge fund. With all due respect ice are you telling me that this is part of your every day business? If you controlled our "laughably flexible" fee based platform clients would be spiritually fullfilled? When you took 1 benign sentence and turned it into a couple of paragraphs you know it was meant as a bash. We are all in the same boat and rowing the same direction. God Bless those of you who do these esoteric investments as part of your everyday business. The direction of the stock market and interest rate fluctuations make my job hard enough as it is. To quote Rodney King "Can't we all just get along'?Ice … I think people care very much about the label when you are brand new. It adds to your credibility early on.
No offense taken. I’ve not sold under another brand so I can’t comment on what people’s reactions would be. However I have met more than a few people that have done some research into EDJ and told me they did so. What that means, I have no idea.
Not sure what I would be doing wrong. I mention my firm once, at the door, and then it’s the Voltmoie show. EDJ is just a company I use to offer them products - it’s my strategy.
ice,
Reread Winds 1 sentence quote (in your own post). It had nothing to do with product. I asked you questions. You turned them in to accusations. Read my post slowly. If you don't give a rats ass then don't make hateful comments. Again. Product was not mentioned. Product availabiltiy? Why do you bring up all of us "kool aid" wirehouse people. Indys' are Gods chosen people? I did not bash. You seem p!ssed off. Why call me a "Jonesie"? My post did not extoll the virtues of Jones. As usual, words twisted and posts misread. Please read exactly what I commented on....nothing more..
You did get product specific dumbass. First you said you said "I’ve seen alot of the crap that goes on at Jones…“Not being able to
sell certain investments that might be good for a client, Regional Pats
on the back” and i still think Jones is a great company."
Then you said "I’m sure even you Independents have things you can’t do, wish you could
do, or wish you had, that Jones as a big company can do. It’s all
relevant to your company."
You went product focused so don’t bitch about ICE for correcting you. You want to talk about EDJ marketing capability, back office support, etc. , say it, but no chance you inferred it based on your initial product based knock on Jones.
BTW Windy: What does “relevant” to a company mean? Do you mean relative?
Wind, what do you mean by that comment?Actually…Gross means everything…
This thread is great, now if Ron14 shows up to start smack-talking this thread will be perfect
Wind, what do you mean by that comment?[/quote] I think he's trying to say that take-home pay (net) is less important than the stats that show up on the Jones scoreboard (gross).[quote=wind3574]Actually…Gross means everything…
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That's what it sounded like to me, too. I just don't want to assume that is the case.
Until banks are going to let us cash our gross, it seems like a pretty meaningless number. Do you think that I can use my gross to pay tuition for my kids?.
Wind,
I'm not going to bash on you but when you tell Volt, "Your a moron" or "Your and idiot", it's "You're a moron" and "You're an idiot". You've used your since the beginning of your postings and it doesn't add to your intelligence in your debates..
Defensive yet again! You really are a tool! IT MAKES YOU SOUND LIKE AN UNEDUCATED HILLBILLY! You may not care but people will question your intelligence. If they weren't already by your belligerent responses.
Awesome thread.
We are finally starting to come alive again on this board.
Personally I think there are some at Jones who are Kool-aid drinkers and some who simply see Jones as a platform that they use to grow a business. I believe (maybe wrongly) that qwerty falls into the latter category.
I do think this statement “'I’m sure even you Independents have things you can’t do, wish you could
do, or wish you had, that Jones as a big company can do” means that we as independents wish we had the product depth, the back office support (insert cough or laugh here), regional meetings (insert joke about waste of time - see BEST REGIONAL EVER!), the brand name (50/50 here - a lot of people are in love with the Edward Jones name, others stay away from it like the plague).
My point is, you PAY for all of that! And if you think that independents don’t get together and talk about best practices, you are wrong. I know guys that get together to write their business plans, who share office space, who plan “independent div trips”. It’s a lot cheaper, and it’s not taxable to them, it’s a tax write-off.
Btw - I like wind, but I think you’re just trying to cover on this one.
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Cover your a$$ about how you really were talking about product offerings but then backed off it once Ice called you out on it.
Maybe you should go back and delete this post. [quote=wind3574]Very humble response. You are learning young Skywalker.
Your taking sentences out of context and rationalizing them as individual statements. Your a moron. Thats like saying, "Volt wishes he had nuts" which would imply that you blow steam in the rectal area, but i "intentionally" forgot to include the important part of the sentence which was "Volt wishes he had nuts from Walmart. The blue ones in a can"....
[/quote] Window- you gotta admit this one had to be called out
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I was refering to the words in bold Window. I could care less about the rest. You know with as many people on here, someone is going to post about it. I mean just read it and imagine someone else wrote it. "Your a moron" Now laugh it off and get back to dialing.
How else on earth could someone translate that sentence? What exactly did you mean by "I'm sure even you independents have things you can't do". It can't be back office support because you would have said "There are things that independents don't have", as opposed to "can't do". It can't be trips, because then you would have said "There are things that independents don't have as incentives", as opposed to "can't do". It can't be marketing help, because you again would have said "There are things independents don't have", as opposed to "can't do". I'm just trying to figure out what you mean by "can't do", other than sell certain products.I’m sure even you Independents have things you can’t do, wish you could do, or wish you had, that Jones as a big company can do.
You guys say the forum is boring…
Sounds like you are just bored, trying to find something to argue about and this is usually what it boils down to…Arguing over type-o’s and taking senteces out of context and turning them into fact statements…[/quote]
Actually, we were having a pretty good time with the wire guys a little while back. It got pretty lively. Didn’t really involve you or anyone else from Jones.
Also, we had fun with this guy selling free FHA leads.
It’s not all about you man.
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[quote=wind3574] [quote=3rdyrp2] [quote=wind3574]I’m sure even you Independents have things you can’t do, wish you could do, or wish you had, that Jones as a big company can do.[/quote]
How else on earth could someone translate that sentence? What exactly did you mean by "I'm sure even you independents have things you can't do". It can't be back office support because you would have said "There are things that independents don't have", as opposed to "can't do". It can't be trips, because then you would have said "There are things that independents don't have as incentives", as opposed to "can't do". It can't be marketing help, because you again would have said "There are things independents don't have", as opposed to "can't do". I'm just trying to figure out what you mean by "can't do", other than sell certain products.[/quote]
DO
–verb (used with object)
1. to perform (an act, duty, role, etc.):
Back Office Support: Me - Did you call Back Office Support.
You - No I didn't DO it. I can't call back support, we don't have it. This part was covered in the "wish you had" part of your original sentence. Nice try with the example though!
Div Trips: Me - Did you go on a Div Trip
You - No I didn't. That's not something I really wan't to DO.
This part was covered either in the "wish you could do" or "wish you had" part of your original sentence.
Marketing Help: Me - Did you get any help with your marketing.
You - No, I didn't call them because I'm too busy to DO that. This part was covered in the "wish you had" part of your original sentence. And your example sentence above doesn't even make sense. "No I didn't call them" isn't an acceptable answer to "Did you get any help with your marketing". The person who asked the question would look at you cross-eyed. Either the company has marketing support or it doesn't. It doesn't require any action on your part.
Hmmm....Sounds to me like you can DO all those things.... If this is what you had in mind when you wrote the original sentence than you have worse English than ANY of us originally thought. And we didn't originally think much of it. Neither do your clients.
[/quote]
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As a guy who has certainly posted his share of Edward Jones bashings, I say enough is enough…Sooner or later the pendulum swings to a place where one is comfortable with the way they do business. I prefer LPL for myself. Several of my friends at Ed Jones have stayed there while others are at LPL, RJ and Next Financial. There were several things that EJ did and still does that I found irrating but I am certain that for the person that buys into all the culture they have would not have a problem with at all. I help people when they call me from EJ understand the outside world as they are essentially clueless on the differences unless they have done a lot of research. My wife misses the Div Trips at Jones but we have actually been able to vacation since I moved my practice. One of the better decisions of my life was getting into the industry as well as moving to independence.
I wish everyone well as they search for that perfect spot on the beach, mountains or vineyard !!! May it suit your soul....Here is an example of why you are a d***.... [quote=window3574]Oh I've had lots of people ask me that, but they ask everyone that, when they have a good month. Just didn't speak at the Summer Regional.[/quote] [quote=jkl1v1n6]Very humble response. You are learning young Skywalker.[/quote] No bashing, no out of context, actually some what of a complement. and then... [quote=jkl1v1n6]Wind, I'm not going to bash on you but when you tell Volt, "Your a moron" or "Your and idiot", it's "You're a moron" and "You're an idiot". You've used your since the beginning of your postings and it doesn't add to your intelligence in your debates.[/quote] [quote=window3574]When I am trying to type between phone calls, client meetings, school, kids, and blah blah....I could care less whether i type in proper form on this site. Has nothing to do with whether or not I'm capable. I just dont give a f***. Find something better to talk about...[/quote] No bashing, no out of context, just a valid comment. Why not just answer "oh damn..., i did f it up...lol...but he got the point"[quote=Moraen]
It’s not all about you man.
[/quote]
Never once said it was. But I can’t post one comment, without someone picking it apart and taking it out of context.
can’t we just all get along? what happened to bashing the regionals, i don’t care if you drink le koolaid or not, regionals are seriously lame, they have no value added and aside from everyone there bragging about how the just brought in the next zillion dollar account, its kinda like high school with all the different clicks (of course those are somewhat adjusted with the spouses being there and all)…its sad, the ‘family’ spirit they try to evoke when in reality most of the FAs can’t stand each other (i know there are some good regions, but definitely not mine)…i don’t see the point in having all of these regional’s, especially at a time when the firm is looking at cost
People that complain about clicks in their regionals probably don’t have any friends. Are you fat?
just kidding.haha that’s hilarious! maybe everyone else is fat and i’m the lone skinny chick, or is that not even an option?
If you are not sure post a pic and we will let you know if you were the one looking for food or you were the one thought of as foodhaha that’s hilarious! maybe everyone else is fat and i’m the lone skinny chick, or is that not even an option?
oh ok jaxson, right away!
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