Edward Jones training
Happy New Years to everyone!
Well it is official and I have accepted the FA position with Edward Jones. I am curious to know know if there is any training involved while I study for my series 7 and 66 or is it strictly studying to pass the exams??
Everyone also keeps telling me that you are going to struggle your first 2 years in terms of making ends meet. I am curious to know what qualifies as “struggling”. I am coming from an entry level sales job where I made around 35k my first year. I am going to bust my tail for the first few years to make six figures…if I make less then 35k my second year I would be pretty upset with myself for not busting my a$$. On top of that my market is a pretty wealthy suburb of a metropolitan city with no FA in or around this region.
I have to say I am very siked at the opportunity and cannot wait to get going!!
Studying for the next few months is all you will be doing. You will have no life you will be very frustrated and will want to quit… Remember this feeling because you will experience this several more times in the next few years…
Struggling.. Some don't make sales in a full selling month. Hard to learn how to close an account if you don't have prior sales experience. Miss JWhat is the average someone studies per week with Jones??
A couple years ago they told us to study 10 hours per day M-F and 6 hrs. on Saturday. I didn't study that much, but I did study a lot.
I remember being so excited that I was actually going to have my first Christmas off in many years...and I studied about 5 hours Christmas day.Good question-
I studied a lot.. I think it really depends on the last time you were a 'student'. I had long forgotten my study tactics so it took me more time than most.. more like 10-11 hours a day 6 days a week.. I did okay on the tests but when it came time for the 7 exam.. I was just hoping I had passed.. I actually got an 80. I think the study time depends on you and your ability to remember the information. Miss JI agree with you 100% Miss Jones. I graduated from College 2 years ago and was very good at test taking. I have a very photogenic (spelling?) which made test taking a breeze (especially when it came to multiple choice).
If you don’t mind me asking Miss Jones, how did you become so successful during your first 2 years?? Was it persistence, luck, did you take over someones office, was it the area you were assigned…??? I have been in a sales position for the last 1 1/2 and I know I have learned enough to make me successful. Am I aiming to high or should I say is it realistic when I say I would like to make close to 75k my second year?
Different folks are successful in this business for different reasons.
A lot of folks do exactly what they're told and just can't get anything to happen for them. As I've said before, there are many other factors involved than just "working hard." Being established in the community in which you're opening your business, having wealthy friends and relatives, and having pre-established relationships with good referral centers (local CPAs, attorneys, church members, etc.) are all huge benefits when going into this business. The turnover rate is so high, that most folks are leery to trust a guy who's new to town since the odds are the last broker they worked with is no longer in the business.BK-I don’t think you are aiming too high to expect to make 75K in your second year. The key is believing in yourself, having a positive attitude and DOING the work. The one thing you have to remember is that LITTLE salary they give you goes away… In our region we say you have a ‘can sell date’ and then you have the ‘must sell date’… Even though the salary is small it sure gives you a nice start every month. That is why most FA’s at Jones don’t make it to 18 months… You should come in here (Jones) with at least 3 months of living expenses so when you have one too many low months you don’t have to quit.
To be successful in this business you must have positive people in your life and you must do what you say your going to do- For both your family and your clients/prospects. Many good people fail and it normally has to do with not making enough money or having a tough time at home. I was in what i thought was a pretty successful relationship- come to find out my boyfriend of 4 years was jealous of all the time I was spending at work.. Men are a lot less needy than women so.. this HAS to be discussed if you are married or in a significant relationship.. If you aren't working a lot- you won't make it.. (or won't make it for long) I did take over an office but believe me that was more of a pain in my ass than it was a blessing. The one good thing I got out of it was an office that gave me creditability.. I was new/new in the beginning and that was tough.. Try to either do a goodknight or take over an EMPTY office. (we call them shell offices) Building your business with the clients you want to work with not the ones you got stuck with (like me).. The biggest advantage I had coming in to this business was having 5 years of commission only sales experience = I know how to live month to month and I also know how to close deals. You must be a closer and be good on the phone in order to have a fast start. Miss J ** Best of luck- If you have other questions.. Just PM me.It’s like anything else- it depends on you. If you know how you learn then you actually accomplished something in school and you won’t have much trouble. Jones passes 90% so trust in the system.
If you can pass the tests each day then it doesn't matter if it took you 2 hours or 10. Each day is about 30-40 pages of reading with a quiz and test.$75k in your second year is very doable ($20k in possible bonuses)- you need about $140k so 12k a month. That’s about $55k to you with the rest coming from bonuses. When year 4 hits though you are going to need to do an extra $50k in sales to make as much as you did in years 2 and 3 because the bonuses go away.
Miss Jones is right about taking over an office. The revolving door office in town is not where you want to be. However, if there is a good sized office available, take it. Everyone will tell you you suck and you were related to someone or something stupid like that, but blow them off and keep working.
Your situation sounds great. Only FA in a wealthy metro market. Man, that must be nice. I've got about half a dozen offices within a mile or two of me. And I wouldn't call it a wealthy suburb. Not poor, but definitely not wealthy. Good luck.Yes, good luck. Study hard, and keep us updated!
Thanks Spaceman. Yeah I was actually doing market research into which suburb I would like to open an office in before an offer was extended to me. Come to find out after looking at all the FA’s in my region there wasn’t one in that particular suburb…closest one is around 15 miles away. So when I had that discussion with the hiring specialist I brought that particular area up and that is what she was thinking for my primary region.
I also saw that others depend on friends and family. I do not want to use this strategy as I want to build my book using my skills and my determination. If friends and family want to invest with me fine…but I don’t think I will be pursuing them (at least not until I prove myself).
I’m feeling particularly chatty today. Don’t really remember how I studied for the 7, but that’s a joke compared to your first 3 years anyway. Plan on 12 hour days, 6 days a week for at least 2 to 3 years. I didn’t have much in the way of bonuses when I started, only 2k/month salary. Made around 55k year 1, 45k year 2, 75k year 3, 100k year 4, 110k year 5, 140k year 6, 200k year 7, etc. etc. Start by having people sample you out, get the rest of their accounts after they trust you. Sell product your first few years, don’t try for the whole picture unless you are sure you can get it…until you become a veteran. Assets are key, your income will be directly correlated. I manage well over 100 million now, started new-new, so I would heed my advice.
rankstocks,
Thanks for support. Do you mind me asking if you were in a sales position before going with Edward Jones?
It used to be year two that was the most difficult. When rankstock started he probably had a $2k per month draw, not salary. That’s the way they used to do it. When that stopped at the end of year 1, you were straight commission. No bonuses. A lot of people quit mid way through that second year because the cash flow just wasn’t there. Now, there are bonuses that can add a substantial sum to your cash flow if you are on track to get them.
Vets like to say things like, I've been with Jones for 15 years. It's been the best 13 years of my life. Today, with Goodknight programs, Legacy plans, open offices, asset sharing, etc not that many people are starting New/New like they did. My advice, work hard like rankstocks obviously did. When you get a bonus, put it in savings. You'll need it later. If you make more than you need to pay your bills, put it in savings. You'll need it later. Don't think about working hard for a number of years. Instead think about working hard until you reach a certain asset under management goal. The name of the game is gathering assets. The hard work is the natural by product of that.[quote=Spaceman Spiff]It used to be year two that was the most difficult. When rankstock started he probably had a $2k per month draw, not salary. That’s the way they used to do it. When that stopped at the end of year 1, you were straight commission. No bonuses. A lot of people quit mid way through that second year because the cash flow just wasn’t there. Now, there are bonuses that can add a substantial sum to your cash flow if you are on track to get them.
Vets like to say things like, I've been with Jones for 15 years. It's been the best 13 years of my life. Today, with Goodknight programs, Legacy plans, open offices, asset sharing, etc not that many people are starting New/New like they did. My advice, work hard like rankstocks obviously did. When you get a bonus, put it in savings. You'll need it later. If you make more than you need to pay your bills, put it in savings. You'll need it later. Don't think about working hard for a number of years. Instead think about working hard until you reach a certain asset under management goal. The name of the game is gathering assets. The hard work is the natural by product of that. [/quote] When I started, year 2 and 3 were more difficult like rankstocks. I am at standard and have always been since I started and I am by no means a rocket ship as far as production but it might be meaningful to give you some actual numbers to look at. Year 1 48K Year 2 52K Year 3 65K Year 4 68K Year 5 93K There are a lot of people that would laugh at those but they are my numbers and i started with no assets.... Today with the extra bonuses that one could get you should add 10-12K per year for the 1st 2-3 years. I am in my 6th year now and should do a net of 110-125K.... Hope this helps, btw, Spaceman gave some real good advice.I’ve been lurking on this board for months since starting my research on FA jobs. I am also starting with EJ this month and this has by far been the most useful post I’ve come across concerning what to expect and advice for future Jones rep. Thanks all…
Noggin,
I appreciate your honesty in terms of what to expect. I agree with Peelo that this thread has been very helpful, very insightful and to be honest has really put me at ease when it comes to compensation.
I look forward to starting on Feb. 4th and who knows…maybe someday I’ll be running into one of you guys in St. Louis.
Thanks again!
[quote=Spaceman Spiff]It used to be year two that was the most difficult. When rankstock started he probably had a $2k per month draw, not salary. That’s the way they used to do it. When that stopped at the end of year 1, you were straight commission. No bonuses. A lot of people quit mid way through that second year because the cash flow just wasn’t there. Now, there are bonuses that can add a substantial sum to your cash flow if you are on track to get them.
Vets like to say things like, I've been with Jones for 15 years. It's been the best 13 years of my life. Today, with Goodknight programs, Legacy plans, open offices, asset sharing, etc not that many people are starting New/New like they did. My advice, work hard like rankstocks obviously did. When you get a bonus, put it in savings. You'll need it later. If you make more than you need to pay your bills, put it in savings. You'll need it later. Don't think about working hard for a number of years. Instead think about working hard until you reach a certain asset under management goal. The name of the game is gathering assets. The hard work is the natural by product of that. [/quote] come on Space, 98% of the people who get the bonuses would have made it anyway. This is a farce that it helps a lot of people through the second year.[quote=gad12][quote=Spaceman Spiff]It used to be year two that was the most difficult. When rankstock started he probably had a $2k per month draw, not salary. That’s the way they used to do it. When that stopped at the end of year 1, you were straight commission. No bonuses. A lot of people quit mid way through that second year because the cash flow just wasn’t there. Now, there are bonuses that can add a substantial sum to your cash flow if you are on track to get them.
Vets like to say things like, I've been with Jones for 15 years. It's been the best 13 years of my life. Today, with Goodknight programs, Legacy plans, open offices, asset sharing, etc not that many people are starting New/New like they did. My advice, work hard like rankstocks obviously did. When you get a bonus, put it in savings. You'll need it later. If you make more than you need to pay your bills, put it in savings. You'll need it later. Don't think about working hard for a number of years. Instead think about working hard until you reach a certain asset under management goal. The name of the game is gathering assets. The hard work is the natural by product of that. [/quote] come on Space, 98% of the people who get the bonuses would have made it anyway. This is a farce that it helps a lot of people through the second year. [/quote]How is it a farce if it helps people get through the second year?
Don't underestimate the bonuses. They can be a huge help but can also set up up for disaster if you rely on them in your first year as a gauge in how you are doing. Everyone should be able to hit the first bonus ($4k) and the second one takes a little luck but is very doable ($5k). Thats $9k of about 45-60k total salary. If you relied just on friends and family, though, to hit your numbers, then you will find it real hard to hit the bonuses in year 2 ($14k total).
You can produce around $35k and make about $48k in your first year if you hit your numbers. Year 2, you can produce $75k and make about the same amount ($49k) or proudce $60k and make $24k (double your income with 25% more production because of bonuses). Year 3, you can produce $130k and make $70k (or produce $100k and make $38k). This is why a little more work now and during your second year can pay HUGE dividends in year 3- you won't see them now but you will feel them later (again, almost doubled income with about 30% more production). Year 4, you can produce $130k and make about $50k. (no bonuses anymore, what you produce is what you get. The bonuses make it realistic to be getting around a 65-70% payout for your first three years with office, assistant, etc. Point is, the bonuses are pretty important. If you would like detailed basis on my claims above, let me know.The point is, that with the new bonus system, there is an even better cash flow than before. Sure, if you hit the milestone bonus figures, you are probably going to make it. If you bank those bonuses and don’t spend them, it just makes those inevitable months that you don’t make what you need a little more palatable. You’re not buying groceries on credit cards or taking withdrawals from your Roth IRA that you started when you were making good money just to pay the bills. Having that little bit of a nest egg, with the promise of more to come, can be a great stress releiver.
Best post I’ve read yet, I’ve just started with Jones aswell, and currently in study. Thanks for real figures to work with. I have 8 years sales experience, 5 years straight commission with very successful track record, getting into a new field can be challenging.
Thanks allHello all i am new to the forum and have spent all day reading every post in every thread. I am 24 years old and jumped into the mortgage industry right out of college and build my book of brokers from scratch with sweat and long hours. just when i was seeing the work pay off after 2 years my company closed. i have been researching and interviewing at different firms for the past 2 months and i believe that edward jones is the best fit for me other than met life, northwestern mutual, first investors, smith and barney and others.
All this said i am scarredto death and excited out of my mind at this opportunity to begin such a great career. having said this does anyone know what the best start is becoming a new new, or goodknight. also there are 4 jones offices thhat surround my area. i am willing to go a bit farther to get a different set of clients. any advice would help greatly. any advice for someone starting out in the industry? ps i have a few more interviews with jones but after seeing what everyone else has to offer i really want to work with jones.
[quote=Ryeman]Hello all i am new to the forum and have spent all day reading every post in every thread. I am 24 years old and jumped into the mortgage industry right out of college and build my book of brokers from scratch with sweat and long hours. just when i was seeing the work pay off after 2 years my company closed. i have been researching and interviewing at different firms for the past 2 months and i believe that edward jones is the best fit for me other than met life, northwestern mutual, first investors, smith and barney and others.
All this said i am scarredto death and excited out of my mind at this opportunity to begin such a great career. having said this does anyone know what the best start is becoming a new new, or goodknight. also there are 4 jones offices thhat surround my area. i am willing to go a bit farther to get a different set of clients. any advice would help greatly. any advice for someone starting out in the industry? ps i have a few more interviews with jones but after seeing what everyone else has to offer i really want to work with jones.
[/quote] First, I'm sorry you spend your entire day reading every post and every thread. There's a lot of garbage on here. Some good stuff, but it's hard to find. EJ is the best fit "other" than those firms you listed? Or "OVER" those other firms you listed? Gotta learn how to communicate. The problem I have with EJ is that there's this "perception" of saturation with multiple offices. There's only ONE broker per office, but it looks like they have a "corner" on the market there. Find any other brokerage firm and you'll find up to 50 people on ONE FLOOR IN THE SAME TOWN! So... what saturation? EJ is NOT Starbucks! So, start "new new" or "goodknight"? Does it really matter? The clients under the "goodkight" just might end up saying "goodbye" to you anyway. In fact, trying to "woo" past clients of another broker might take MORE time and headache than building your own book from scratch. Just my thoughts.80k avg first 2 years very doable IF you have a lot of cold-calling sales experience and know that b/t 9am-5pm is selling, not paperwork or "analysis". I did it as a newnew.
I appreciate the advice.
As stated above, I'm new to this biz, I was wondering what type of volume should a new rep set as a floor when signing new accts. I see the term millions under management, but on a monthly level what would be considered "acceptable" and what would "successful" per month realistically
Thanks all, Back to study! Series 7/66 are coming soon[quote=DCnew] I was wondering what type of volume should a new rep set as a floor when signing new accts. I see the term millions under management, but on a monthly level what would be considered “acceptable” and what would “successful” per month realistically
[/quote] I've been licensed with Jones for just shy of two years, and I have to find approximately $500K to invest each month to have a $3000 net paycheck. With the Jones business model, you bring in assets, invest them, and then strike out looking for more new money. I've transferred in accounts as large as $750K without making a penny off of them, because if folks are in good investments, I refuse to liquidate their account and reinvest the money just to make a commission--unlike many in this business choose to do. One of the most difficult aspects of this business is climbing the enormous psychological mountain month after month after month. I'm hoping that building up my trailing income will alleviate the constant pressure to sell. Time will tell...Thanks BB, I really appreciate the info. I have about 20 aquaintences interested in investing when I get licensed, but I also know that that is just thwe tip of the iceberg, I'm not counting on friends/family to build my book. Hard work, perserverence, and a successful history in sales landed me the position, I dont plan on success IN the position to demand anything less!
I have a passion for success, and the determination to see it come to fruition!I also see in the paperwork that we get new acct bonuses for “qualifying accts” what is deemed qualifying? Thanks in advance
DCqualifying is either 10k in assets or 100.00 in gross commission. BUT is only one per household.
So a 10k cd or mmkt acct does count, even if no commission. But just PROSPECT constantly and it all works out. DO AS THEY SAY--do not reinvent.thanks
how much planning do you do your second year? i know that mutual fund sales are heavy the first year. what percentage of your business is insurance sales and what is the commission split on that as well as renewals? any help would be great
How much planning would you expect to do with a company that just got email 18 months ago? Your insurance revenue will go through your grid, so don't expect to be well compensated on insurance - unless you get a big case somehow. Edward Jones is an INVESTMENT firm, so expect to deal with INVESTMENT ASSETS. The most you'll do with insurance will probably be variable annuities.how much planning do you do your second year? i know that mutual fund sales are heavy the first year. what percentage of your business is insurance sales and what is the commission split on that as well as renewals? any help would be great
Your question about sales experience? None....came to Jones immediately after getting my masters. Find someone in your region that can teach you sales, and the first several years ARE sales, and ask them to teach you.
As far as assets, here's my list of assets by year as best as I can remember them: 1: 3 million 2: 8 million 3: 15 million 4: 26 million 5: 38 million 6: 50 million 7: 67 million 8: 80 million 9: 93 million 10: 107 million Hope this helps, keep in mind I am very good at what I do, and I am in the top quartile at Jones. I average well over a million a month now in new assets, but when I started I was happy at 300k/month. Now I go after the whole picture, but when I started I was having people sample me out. I woul be recommending some mid-term muni's and corporates right now to open account, some 25$ par bonds would open accounts also. Have people sample you out with some good managers like the Franklin Founding Funds strategy, or go after specific managers like Hartford Capital Appreciation. Selling stocks to open accounts can get you into trouble, but if you pick up some insured muni's at 5%, it's tough to get a client too upset. Always error on the side of caution with clients money. I'm rambling, but last comment: Transfered over a Merrill account last week for 350k in a 2.5% wrap. 95% international. couldn't believe it. When I start seeing this kind of crap, it makes me nervous.[quote=Ryeman]how much planning do you do your second year? i know that mutual fund sales are heavy the first year. what percentage of your business is insurance sales and what is the commission split on that as well as renewals? any help would be great
How much planning would you expect to do with a company that just got email 18 months ago?
Your insurance revenue will go through your grid, so don’t expect to be well compensated on insurance - unless you get a big case somehow.
Edward Jones is an INVESTMENT firm, so expect to deal with INVESTMENT ASSETS.
The most you’ll do with insurance will probably be variable annuities.[/quote]
Huh? Do you know that EDJ is the largest insurance producer of all major brokerage firms? That does not come from Jones - that came from a Met wholesaler. Not sure where you get your info. Most Jones advisors do quite a bit of life and LTC.
Did you know that if you go to an INVESTMENT firm to do INSURANCE, that you’re an idiot?
You should compare the compensation of your insurance production from Edward Jones to the compensation of a large mutual (NYL, MM, NML) and see which would make more sense to do where. And just because "a" Met wholesaler said something... doesn't make it true. My info comes from common sense. I'd put a career life insurance agent who's been around over 5 years against the TOP producing EJ insurance producer anyday and see who would come out on top in terms of production and total personal earnings. I've never heard of an EJ FA reaching MDRT TOT, COT or just standard membership status. There's probably a reason why that is. Perhaps you should ask your Met wholesaler?[quote=Broker24]
Huh? Do you know that EDJ is the largest insurance producer of all major brokerage firms? That does not come from Jones - that came from a Met wholesaler. Not sure where you get your info. Most Jones advisors do quite a bit of life and LTC.[/quote]
I bet he also told you the MetLife products are the best available for you.
Really, broker24 - I’m sure you are astute enough to take what a wholesaler might say with an appropriate grain of salt. Have you ever heard a wholesaler tell you your firm (generically speaking, not EDJ specifically) wasn’t the best in whatever way? I haven’t.
I have read over this post several times. Does it not seem odd that you took a job with a firm and know absolutely NOTHING about its requirements or what you will be doing with Edward Jones? Did you not do any research and ask any questions???
Ilovedogs,
Is your reply aimed at me?? Because of it is you are way off. I have done more research on the company and have asked more questions than your average applicant. Reason I am asking all of these questions is because its nice to get feedback from FA’s that have been there for 10 yrs, 3 yrs and 8 months. I am a true believer that to be the best at something you have to seek advice from different channels (i.e. peers, trade magazines, forums etc…).
If you took my questions as me being clueless then I would have to say you need to go back and re-evaluate your post as my motives for being on here went over your head.
From your response to my post, you will be a perfect fit to EJ. I was simply responding to your post asking very, very basic questions about being an Edward Jones FA and the fact that most of your questions you should already know the answer to before even agreeing to work for them. You are already in the EJ mode with your nasty response!
Obviously Ilovedogs, you are a bitter person. Not sure if it is because you have failed in this industry or just not what you expected it to be. It is a very simple concept that I am trying to explain…reason for the questions (mainly about compensation) is that I want to know first hand from other FA’s from around the country some of the pains they went through their first years.
Why are you assuming what type of person I am or what type of research/questions I asked? Just curious to find out where your nasty response came from?
bank,
You are the perfect EDJ fit. Just like most other EDJ poster-children here, as soon as someone questions your intentions, you throw out the, "you must have failed in the industry" quote. Now I do agree that doggy there was a little nasty in his response and he's probably just trying to get a rise out of you, which he did, but the ol' you must have failed comment is way off base especially for someone who hasn't even passed his series 7 as of yet. Just so you'll know, most of us folks who left EDJ did so because we could be more successful elsewhere. Good luck, EDJ has a great initial training program, but then you'll discover that there is so much more available and you may even decide to move on as well. If you do, good luck on that as well!Free,
I appreciate the post. I agree with you 100% that if you’re better off moving on to another institution then why not make the move especially if more money is involved. I really did not try to come off as a cocky a-hole…just kind of shocked that someone frowns upon (or thinks I’m clueless) the fact that I come on here to try to get info and advice from others not only at EJ but from others that work in the industry.
How long have you been in the industry if you don’t mind me asking? What got you interested in this field? Any advice for a newbie like myself that is new to the industry?
Thanks Free.
Bankroll
Bank,
I've been in the industry 5 years and had my best year ever last year. I made $80 - $90K more than any of my friends who are still at Jones with the same amount of time in made. I got into the business because I enjoy the investment aspect of it and enjoy helping folks figure out what they need to do. It has it's ups and downs but no more than any other job. As far as advice goes, I'll probably get slammed by the pro-Jones crowd when I say don't swallow everything Jones feeds you. I did for four years and it finally hit me one day at one of the infamous summer regional meetings that the guys who were finally netting $100K for the first time had all been with Jones for 8 - 12 years. Amazingly enough, three of those $100K producers left Jones three weeks after I did. I am thankful that Jones hired me and trained me and I repaid them by honoring the contract I had signed. I do not appreciate all of the "we are better than all others" crap that flows so freely in St Louis when you go there for training, but it never really hit home until I became one of the "all others". Take the Jones training and build YOUR business, but realize that it is your business and don't let Jones tell you otherwise. If the clients you gain hire YOU and not Jones, they'll always be yours, even when you leave the green mothership. You'll hear all sorts of great stories about success in Jones, but realize, it just like any one else trying to sell you their company. Jones is not better than all others but there are some great Jones advisors out there and there are some bums. Good luck!![quote=skippy]Did you know that if you go to an INVESTMENT firm to do INSURANCE, that you’re an idiot?
You should compare the compensation of your insurance production from Edward Jones to the compensation of a large mutual (NYL, MM, NML) and see which would make more sense to do where. And just because "a" Met wholesaler said something... doesn't make it true. My info comes from common sense. I'd put a career life insurance agent who's been around over 5 years against the TOP producing EJ insurance producer anyday and see who would come out on top in terms of production and total personal earnings. I've never heard of an EJ FA reaching MDRT TOT, COT or just standard membership status. There's probably a reason why that is. Perhaps you should ask your Met wholesaler?[/quote] You are right (OK, not the part about me being an idiot ). I did not mean to suggest the guys focused on insurance should go to Jones (or any investment firm). My point was that there are a lot of advisors at Jones that do a lot of insurance (compared to other investment firms, not GA's). And the info from the wholesaler was actual literature that ranked all the firms by production - it was not just his "word". Yes, I am smart enough to not believe everything a salesman tells me.Got it. I actually don't use Met much. And yes, I don't believe everything salesmen tell me. What I saw was actual literature. Not a big deal. I was not trying to go pro-Jones or anything. I know where that gets me (cough-cough-SPIFF--cough-cough).[quote=Broker24]
Huh? Do you know that EDJ is the largest insurance producer of all major brokerage firms? That does not come from Jones - that came from a Met wholesaler. Not sure where you get your info. Most Jones advisors do quite a bit of life and LTC.[/quote]
I bet he also told you the MetLife products are the best available for you.
Really, broker24 - I’m sure you are astute enough to take what a wholesaler might say with an appropriate grain of salt. Have you ever heard a wholesaler tell you your firm (generically speaking, not EDJ specifically) wasn’t the best in whatever way? I haven’t.
I’m starting my 7th year with Jones and will say that years 2 and 3 were definitely the most difficult. It would have been nice to have the “new bonus system” in place when I started.
Freefromjones,
No doubt about it that they will tell me that they are the best and what not…if they don’t feel passionate about the company I would have second thoughts. It is up to the individual to buy into the system and each has to decide if a certain culture fits into what they are looking for. Obviously Jones wasn’t for you and there is nothing wrong with that…you are better off then you were with Jones…can’t knock someone for thinking about themselves and family.
As for myself, I know one thing…I am very passionate about investing and my financial wellbeing. I have never worked in the industry but I have always said since a freshman in college that I want to work in this industry. I busted my ass in college I have busted my ass in the position I am now and will continue to push till I get to the point where I am happy financially.
Thanks for the response and good luck to you with your future en devours.
Bankroll
Ok…the money seems like it can be amazing!
I have never had Jones pple knocking on my door. What do you wear when door knocking? Also I imagine if u knock in the daytime all u find are housewives while the breadwinner works. I wanna try out but it doesnt seem that “optimistic” for lack of a better word.
Also Canadians…I’m vacationing in Europe but whats first yr salary for Jones?
You're guaranteed a minimum of $150,000 for each of your first five years.
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k
[quote=Borker Boy]
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k[/quote]
I think maybe Borker was just kidding Ms. Obama.
[quote=mrsobama] [quote=Borker Boy]
You’re guaranteed a minimum of $150,000 for each of your first five years.
Wow thats a lot of dough. But $150K in first yr. I doubt it. Most pple here made $40k[/quote]
I think maybe Borker was just kidding Ms. Obama.[/quote]
LOL!! Missed the sarcasm!
Hey everyone. Thank you for the great info. Does Edward Jones pay us while we study for our exams? If so, I'm sure it's very little but I just didn't know if we were compensated at all during our studying time or not. Thanks in advance!
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