Edward Jones worth it?
I got contacted by Edward Jones today an i always swore Id never work for them by hearing some ridiculous stories. But a VP i know from Morgan Stanley says there training program is the best you will find out there. But I’m not sure what to think of “cold walking” but pretty much think I wont be a big fan of it. And I heard if I do not like the concept of Cold Walking there is nothing I can do about it because they can fine you up to 75,000 for leaving?? I know there is a lot of people here that work for Edward Jones so I was wondering what you guys thought of it.< id=“gwProxy” ="">< =“jsCall;” id=“jsProxy” ="">
No.
F*cking ROOOOOOOOOOOGGGGGGGGGLLLLLLLLLLLLEEEEEEEEEEEEEEEEEEEEE!!!
[quote=Grinder] I got contacted by Edward Jones today an i always swore Id never work for them by hearing some ridiculous stories. But a VP i know from Morgan Stanley says there training program is the best you will find out there. But I’m not sure what to think of “cold walking” but pretty much think I wont be a big fan of it. And I heard if I do not like the concept of Cold Walking there is nothing I can do about it because they can fine you up to 75,000 for leaving?? I know there is a lot of people here that work for Edward Jones so I was wondering what you guys thought of it.< id=“gwProxy” ="">< =“jsCall;” id=“jsProxy” ="">
[/quote] In general terms, yes, it's worth it. For you, with your preconceived notions about not liking doorknocking, then no. Why work for a company whose basic MO you don't agree with. Why don't you ask the MSSB VP if you can work for him? No doorknocking there.[quote=Spaceman Spiff][quote=Grinder] I got contacted by Edward Jones today an i always swore Id never work for them by hearing some ridiculous stories. But a VP i know from Morgan Stanley says there training program is the best you will find out there. But I’m not sure what to think of “cold walking” but pretty much think I wont be a big fan of it. And I heard if I do not like the concept of Cold Walking there is nothing I can do about it because they can fine you up to 75,000 for leaving?? I know there is a lot of people here that work for Edward Jones so I was wondering what you guys thought of it.< id=“gwProxy” ="">< =“jsCall;” id=“jsProxy” ="">
[/quote] In general terms, yes, it's worth it. For you, with your preconceived notions about not liking doorknocking, then no. Why work for a company whose basic MO you don't agree with. Why don't you ask the MSSB VP if you can work for him? No doorknocking there. [/quote]The program at MSSB I want to get into requires 5 years of experience.
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You should try Primerica. They're actually a branch of Citigroup who used to own Smith Barney. It's about the same as EDJ, but no doorknocking requirement. And they won't fine you if you leave.
[quote=3rdyrp2]
You should try Primerica. They're actually a branch of Citigroup who used to own Smith Barney. It's about the same as EDJ, but no doorknocking requirement. And they won't fine you if you leave.
[/quote][quote=3rdyrp2]
You should try Primerica. They’re actually a branch of Citigroup who used to own Smith Barney. It’s about the same as EDJ, but no doorknocking requirement. And they won’t fine you if you leave.
[/quote]hahhahahah Primerica is awful
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Why not apply for mssb in whatever program and then move to the program you want later on? If you already disagree with EJ then don't do it. You will be miserable and fail.
Edward Jones has a great model as long as you buy into there system. If you try to come in and do things your way, you are going to FAIL.
It is either the Jones way, or the highway. I know from personal experience.
SMUSMU, I disagree. Just like Ice said: as long as you produce, they don’t care how you do it. If you’re not getting 25 contacts a day by doorknocking, but you’re getting a $1 million dollar client every week through cold calling, they’re going to love you. EDJ has some of the lowest rookie production standards out there. They only train you to doorknock because they believe that is the best chance for rookie survival. If you can gather assets and surpass goals by doing something else, DO IT! Go to EDJ and prospect the same way you would at another firm, but if you can’t cut it with Big Green, you’re not going to cut it anyplace else.
Jones isn’t worth it. You will go out an doorknock and try to drum up business but what will happen is that you will be hunting down people with 5K IRAs. This isn’t the way a new person should start in our business. I would advise you to take a look at a bank or credit Union. Get some experience and then move to another firm. I would even advise people to work in a firms home office if you are located near one and keep your eyes out to see if there is anyone looking for a junior broker.
Doorknocking is about as fun as running over your foot with a lawn mower. The other things they don't tell you when going through "training" most people don't make it to a "Can Sell Date" and even fewer make it in the field. I did build a business door to door but it will be a painful process. If you go to Jones make sure you have some money saved up because you will need it to make ends meet. Year 1 is ok because of salary and low expectations, Year 2 little pay and lots of work, Year 3-7 runing on a treadmill and can't get off (always need new $$ to survive...............Year 8 ---Indpendent. Live happy ever after!!!!I would think if you door knocked a millionaire’s home they would say a polite no thank you.
Look, we already know Grinder can’t take rejection well. He is the one who whined about Merrill not giving him an interview after “failing” the personality test. I’m guessing the VP he knows as MSSB (which just means a FA producing $500,000+) is not willing to vouch for him to his BM. We all know MSSB is hiring like crazy, so if the VP thought he could do it, they would vouch for him and get him an interview if not a job.
I would say forget Jones. If you REALLY want to do this, find some small regional office with low benchmarks. Get in there, work your a$$ off and get used to rejection. Then if you are still in the business in 5 years maybe you can go work at MSSB.
[quote=iceco1d]In other words, you couldn’t produce.
[/quote]
Just what I was thinking. I, from personal experience, can attest to the fact that they couldn’t care less how you prospect as long as you are exceeding expectations. I haven’t knocked on a door since before Eval/Grad.
The program at MSSB requires a college degree AND/OR five years work experience.
So in your calls, are you trying to sell a product or an appointment?Just what I was thinking. I, from personal experience, can attest to the fact that they couldn’t care less how you prospect as long as you are exceeding expectations. I haven’t knocked on a door since before Eval/Grad.
[quote=Fooled No More]Jones isn’t worth it. You will go out an doorknock and try to drum up business but what will happen is that you will be hunting down people with 5K IRAs. This isn’t the way a new person should start in our business. I would advise you to take a look at a bank or credit Union. Get some experience and then move to another firm. I would even advise people to work in a firms home office if you are located near one and keep your eyes out to see if there is anyone looking for a junior broker.
Doorknocking is about as fun as running over your foot with a lawn mower. The other things they don't tell you when going through "training" most people don't make it to a "Can Sell Date" and even fewer make it in the field. I did build a business door to door but it will be a painful process. If you go to Jones make sure you have some money saved up because you will need it to make ends meet. Year 1 is ok because of salary and low expectations, Year 2 little pay and lots of work, Year 3-7 runing on a treadmill and can't get off (always need new $$ to survive...............Year 8 ---Indpendent. Live happy ever after!!!![/quote] I agree with almost everything above. The only problem is most banks won't hire you without licensing and/or some kind of track record of increased production.Winner, Winner, Chicken Dinner! Yes, the Jones trainers will harp on you in the beginning if you are struggling with your numbers and not doorknocking. But if you are making or exceeding your (very modest) goals, IT WON'T MATTER HOW YOU ARE GETTING YOUR CLIENTS! You could stand outside the local Taco Bell with a sandwich board that reads "FREE 401K REVIEWS". If it gets you to your goals, you can basically thumb your nose at anyone that tells you to go doorknock. Jones believes doorknocking is the most effective way to get started. If you are NOT hitting your numbers, and you are NOT starting out the way Jones recommends (doorknocking), then what the hell do you expect them to do? One thing that all firms have in common as far as "newbie" training, is that they preach that it's all about the numbers. The mroe cotnacts, the better your odds of making it. I know many Jones FA's that never knocked on ONE door in the careers at Jones. Not ONE. And they are doing fine. They probably lied to their trainers about doorknocking, but who cares? They made their numbers.SMUSMU, I disagree. Just like Ice said: as long as you produce, they don’t care how you do it. If you’re not getting 25 contacts a day by doorknocking, but you’re getting a $1 million dollar client every week through cold calling, they’re going to love you. EDJ has some of the lowest rookie production standards out there. They only train you to doorknock because they believe that is the best chance for rookie survival. If you can gather assets and surpass goals by doing something else, DO IT! Go to EDJ and prospect the same way you would at another firm, but if you can’t cut it with Big Green, you’re not going to cut it anyplace else.
The best method is to find a legacy or goodnight with Jones. They will train better than anyone else. That’s not necessarily a compliment, sine all training is piss poor, in my opinion. However, you will learn enough to get by. Then you find your own training resources. Sites like this have taught me quite a bit, between insults(I’m still trying to figure out if Qwiff face is an insult or wishful thinking). Jones doesn’t pay much, so they don’t really care if you make it or not. They are not your daddy, and that’s fine. They will try to keep your book if you leave. But working in a neighborhood and getting to know the people in your community is wonderful. If you put your time and energy into being a good neighbor and making meaningful and rewarding relationships, you will do fine.
[quote=Fooled No More]
I never even made it to my “Can Sell Date”. I came over to Jones licensed, and had never heard of a “Can Sell Date”. When I started out at BAI as a licensed advisor, I was expected to start producing from Day 1. I expected training, which was a week in Tempe, was going to teach me the EDJ systems and technology. But instead it was a “Door-Knocking Convention”. At the campus, at the hotel, everywhere there was “doorknocking”. I guess there is no training required for the MS-DOS Order Entry.
When I returned from from Tempe, I tried to get my Can-Sell date so I could move over clients, but my ATL and Field Trainer was more worried about me completing my Blue Book, and doing my Regional Leader Exam. So no it is not all about producing, I had around 5mm to move over immediatley. I know that is not a huge number, but it would have been production.
I am not here to bash EDJ, I am just saying it is not for everyone.
[quote=SMUSMU] [quote=Fooled No More]
I never even made it to my "Can Sell Date". I came over to Jones licensed, and had never heard of a "Can Sell Date". When I started out at BAI as a licensed advisor, I was expected to start producing from Day 1. I expected training, which was a week in Tempe, was going to teach me the EDJ systems and technology. But instead it was a "Door-Knocking Convention". At the campus, at the hotel, everywhere there was "doorknocking". I guess there is no training required for the MS-DOS Order Entry.
When I returned from from Tempe, I tried to get my Can-Sell date so I could move over clients, but my ATL and Field Trainer was more worried about me completing my Blue Book, and doing my Regional Leader Exam. So no it is not all about producing, I had around 5mm to move over immediatley. I know that is not a huge number, but it would have been production.
I am not here to bash EDJ, I am just saying it is not for everyone.[/quote] That isn't on EJ thats on you. You weren't willing to "play the game" and do the very basics that they asked of you. 5 million is some production, but then what ? Why the hell would Jones invest in you when you weren't going to provide them with a work ethic in return. It is so easy to go along with what they are telling you until you get things rolling. The only thing that gets in the way is ego. What happened to you has nothing to do with EJ.
Unless you were going to liquidate and transfer that $5MM, it wasn’t production. I can’t even count the number of hotshots like you who used to come through my training class acting like they owned the place when they had a $5MM book and had been in the business for a year. There was a reason you went through the normal training program and not the “I’m already a big boy” producing transfers class - you needed to start over. You evidently weren’t successful enough yet at BAI to be able to sit at the adults table at Jones.
That blue book would have taken you a couple of hours. The RL exam maybe a few more. You could easily have done those two things in a day or two, depending on the RL's schedule. KYC is about trying to create customers, not enter orders. It's written specifically for those folks who come to Jones without any industry experience. It doesn't matter if you know how to place orders, get email, use Bondnet or the FAST tools IF YOU DON'T HAVE ANYONE TO USE THEM ON!!! Thus all the doorknocking roleplaying. I agree with Ron - your ego got in the way of a succesful career at EDJ. That's on you.So in your calls, are you trying to sell a product or an appointment?[/quote][quote=SometimesNowhere]Just what I was thinking. I, from personal experience, can attest to the fact that they couldn’t care less how you prospect as long as you are exceeding expectations. I haven’t knocked on a door since before Eval/Grad.
I call on product or just to introduce myself. I really just want people to talk, and appointments sort of happen naturally. I think it has been said on here before, it doesn't matter what you say, just as long as you're calling. Just depends on what I feel like doing on a particular day.
I am, however, about to make a campaign of calling wealthy people (I traditionally have been focusing on the $200-400k crowd). With that I will probably lead with product.
I think from my first post, it was pretty evident that I know it was my fault. I clearly said you have to do it the Jones way, I was not willing to do so.
I was not let go from BAI for Production reasons, my book was over 20mm in a year and a half. It was for something stupid I did. I knew I could guarentee to bring over 5mm and would work to bring over the rest, that was going to be my prospecting. My ATL said these people had to be NEW contacts, and would check my prospecting for notes. When I entered notes, he would say it was not enough. You guys really need to chill out, and stop being so defensive. I am a strong believer in standing up for your company, but recognize that I was not on a bashing spree. In my short peroid there, I could do plenty of bashing but there is no need to. I am happy with the way things turned out, and EDJ was around before I was born, and will probably be here when I die. So they will not miss me one bit.[quote=SMUSMU]
I think from my first post, it was pretty evident that I know it was my fault. I clearly said you have to do it the Jones way, I was not willing to do so.
I was not let go from BAI for Production reasons, my book was over 20mm in a year and a half. It was for something stupid I did. I knew I could guarentee to bring over 5mm and would work to bring over the rest, that was going to be my prospecting. My ATL said these people had to be NEW contacts, and would check my prospecting for notes. When I entered notes, he would say it was not enough. You guys really need to chill out, and stop being so defensive. I am a strong believer in standing up for your company, but recognize that I was not on a bashing spree. In my short peroid there, I could do plenty of bashing but there is no need to. I am happy with the way things turned out, and EDJ was around before I was born, and will probably be here when I die. So they will not miss me one bit.[/quote] How many names would have been in that 20MM? Should have just included Santa Claus as a prospect. I wouldn't be a member of RR unless I asked what you did?[quote=SMUSMU]
I think from my first post, it was pretty evident that I know it was my fault. I clearly said you have to do it the Jones way, I was not willing to do so.
I was not let go from BAI for Production reasons, my book was over 20mm in a year and a half. It was for something stupid I did. I knew I could guarentee to bring over 5mm and would work to bring over the rest, that was going to be my prospecting. My ATL said these people had to be NEW contacts, and would check my prospecting for notes. When I entered notes, he would say it was not enough. You guys really need to chill out, and stop being so defensive. I am a strong believer in standing up for your company, but recognize that I was not on a bashing spree. In my short peroid there, I could do plenty of bashing but there is no need to. I am happy with the way things turned out, and EDJ was around before I was born, and will probably be here when I die. So they will not miss me one bit.[/quote]What the hell? I never had that sort of problem with my ATL. Half the time I didn't have notes.
If that is your experience with Eval/Grad SMUSMU, then you have issues.
Here’s Eval/Grad in a nutshell:
Bring a bunch of made up numbers…
Fake half your calls…
Fake half your money dues…
Try to leave as early as possible…
They don’t check anything, atleast in Tempe. Your ATL and your Vet don’t wanna be there anymore than you do. The ATL’s are all 20 something year olds living in Tempe, wanting to leave for the lake or to party ASAP and your Vets are ready to get to happy hour at the hotel. It’s all a corporate game, to see who can play it and get by. The whole door-knocking thing is dumb, but i understand it. In fact i think it’s pretty genius on Jones part. Not because it gets them ton’s of business, but because most of the money made is actually AFTER the whole door-knocking phase and when an Advisor does things his own way. It’s genius because door-knocking is about the hardest type of prospecting there is. Not physically, but it kills you mentally, unless you laugh at angry people like i do. If an FA can door-knock and be alright, he/she can do any kind of prospecting. It’s more of a weed out program than a “formula”.
Once you get to PDP, do what you want. Screw STL, they don’t give a crap what you do as-long as you are throwing up numbers and your operating in an ethical manner. For instance, I moved to Seg 3 pretty fast, and the Development Leader called me and said “Why don’t you just skip BDW and we’ll focus on Visions”. Sure, you might learn a little here or there from these classes, but they are just a weed out program. I’d encourage anyone who starts at Jones, to do what they tell you and fake it until you make it. Get to PDP, then throw everything you learned away and develop your own strategy that works.
I actually did what the last FA I interviewed with during the hiring process. I plugged in my former clients, and I just went to my county tax roll and got everybodies name and address. Then I went to Whitepages and got the phone numbers and cold called them. The ones I spoke with, I sent out the postcards to them. Prospects was not a problem.
My ATL used to go through my prospects while I was on the phone with him, asking me question about them.
Someone mentioned earlier that most don’t make it to their can-sell date, I would not say most but it is more than I would have imagined. My roomate from training did not make it to his can-sell date, and he had prior experience also.
Quick question, why does EDJ make you have a roomate anyways? I was very surprised by that. Been on business trips/training before and never had a roomate.
[quote=Ronnie Dobbs] If that is your experience with Eval/Grad SMUSMU, then you have issues.
Here’s Eval/Grad in a nutshell:
Bring a bunch of made up numbers…
Fake half your calls…
Fake half your money dues…
Try to leave as early as possible…
They don’t check anything, atleast in Tempe. Your ATL and your Vet don’t wanna be there anymore than you do. The ATL’s are all 20 something year olds living in Tempe, wanting to leave for the lake or to party ASAP and your Vets are ready to get to happy hour at the hotel. It’s all a corporate game, to see who can play it and get by. Once you get to PDP, do what you want.[/quote]
Once again, someone is being defensive. If I never made it to my can-sell date, then obviously I did not attend Eval/Grad. I have never even mentioned Eval/Grad. I don’t even know what goes on during that time.
[quote=SMUSMU]
Once again, someone is being defensive. If I never made it to my can-sell date, then obviously I did not attend Eval/Grad. I have never even mentioned Eval/Grad. I don’t even know what goes on during that time. [/quote]
I wasn’t being defensive at all. I was giving you facts.
Example: “I never made it to my can-sell date” - You got weeded out. Pulled out the John Deere and WHIIIIIZZZED on you.
Weeded Out, really? The not sitting at the big boy table was a good joke, the John Deere was lame.
I have nothing to prove by getting into a pissing match with you. I wish you much success in your professional career.
I’m very comfortable with my business, and obviously you are with yours.
BTW, My kids are enjoying the tablet PC…I guess it will get some use after all.
[/Quote]
You guys really need to chill out, and stop being so defensive. I am a strong believer in standing up for your company, but recognize that I was not on a bashing spree. In my short peroid there, I could do plenty of bashing but there is no need to. I am happy with the way things turned out, and EDJ was around before I was born, and will probably be here when I die. So they will not miss me one bit.[/quote] Most of your respondents don't even work at EDJ. I'm an Independent and couldn't care less about EDJ's success or reputation. We're just tired of listening to bitter people come on the forum and knock a company's business structure because THEY couldn't cut it in the industry. I guess we just get a little edgy. You've gotta tread lightly when you come on here and point fingers. So by the way, where are you now? Not trying to be rude, but I'm just curious as to what firms take a guy who's been fired twice already.Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving.
I am no longer in the business. I own a kids gym now.
What did you get fired for at BAI?Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving.
I am no longer in the business. I own a kids gym now.
Thanks for your honesty. Whats a "kids gym"?
[quote=SMUSMU]Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving. I am no longer in the business. I own a kids gym now.
What did you get fired for at BAI?[/quote]
I am too ashamed to say why
Could it have been swept under the rug, Yes. Did my boss have the right to fire me, Obviously Yes.
I will say I did not steal, I did nothing inapropriate, and no one was harmed in the incident. Just end of the day boredom, got me in trouble.
Thanks for your honesty. Whats a “kids gym”?
It is an interactive gym where all of the "games"require movement. There are no actual weights, just kids being active and having fun. We also host birthday parties, and have camps & after-school programs.
[quote=SMUSMU] [quote=Mr.Blonde] [quote=SMUSMU]Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving. I am no longer in the business. I own a kids gym now. [/quote]
What did you get fired for at BAI?[/quote]
I am too ashamed to say why
Could it have been swept under the rug, Yes. Did my boss have the right to fire me, Obviously Yes.
I will say I did not steal, I did nothing inapropriate, and no one was harmed in the incident. Just end of the day boredom, got me in trouble. [/quote] Were you looking up porn at the office? *serious question, I can't think of what else it would be.*
[quote=SMUSMU] [quote=Mr.Blonde] [quote=SMUSMU]Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving. I am no longer in the business. I own a kids gym now. [/quote]
What did you get fired for at BAI?[/quote]
I am too ashamed to say why
Could it have been swept under the rug, Yes. Did my boss have the right to fire me, Obviously Yes.
I will say I did not steal, I did nothing inapropriate, and no one was harmed in the incident. Just end of the day boredom, got me in trouble. [/quote] YOu had to have slept with said boss's wife on his desk......congratulations!
You guys are funny, it was nothing sexually inappropriate.
It had to do with documents.
I would have guessed signing a client’s name, but he claimed “boredom,” so that doesn’t make sense. Also, the well of good GIFs has run dry for me…temporarily.
You were close, I will tell…I had to wait after-work for someone one day. As I was waiting I took an extra signed form(I don’t remember which one) and made a copy of it. I cut off the signature and pasted it on a blank document and made a copy of that one. I wanted to see how real it would look. It was an extra form that I had a client sign, but was not needed. So I threw away the forged copy, but left the form with the client signature cutoff on my desk. Just so happen the next day my compliance officer came by my office while I was on an appointment and saw it. The next day I was fired.
Just plain stupidity on my part. I would have rather been fired for not meeting expectations, But oh well.
While on this subject, once (at a previous employer) we received an Advisory contract from a FA that was fully completed (client signature and everything). Unfortunately, the FA practiced the client’s signature on the back of the contract!
Doh! Client forgery is surprisingly common - and most of the time it is because the client wants the FA to sign for them.Cost. Roommates cut the cost of the hotel bill in half. It suprises me that they still have roommates these days. Here's why: Many years ago I was observing a KYC class. There was this one really strange dude that just got stranger all week long. Wore the same clothes, hair was a mess, didn't shave, acted nervous all the time. His roommate was another guy in the same classroom. On Thursday the weird guy was gone. Never showed up in class and his roommate spent hours talking with the team leader and the HR lady who gets involved with really ugly situations. Judy something if I remember correctly. Come to find out the weird dude jumped into the bed with his roommate in the middle of the night and propositioned him. Like I said, I'm suprised that they still have roommates at all. I would think there would be a ton of liability.
Quick question, why does EDJ make you have a roomate anyways? I was very surprised by that. Been on business trips/training before and never had a roomate.
I worked at a major F500 company at one time in corporate finance. When we used to go on Regional business trips, we shared rooms. We could choose them, but we shared them, nonetheless. Incidentally, in both cases (Jones and the palce I used to work), you can pay 1/2 the room rate to get your own room if you want.
So even though I never used the document because all of the paperwork was already turned in, it was the action not the intent that got me fired.
Yes, but they should have explained that to you. You should feel lucky (I guess) that it wasn’t put on your U4.
So you went from Smith Barney to BAI to Jones to kiddie...whatever....in how many years?Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving.
I am no longer in the business. I own a kids gym now.
My question is: What broker/Advisor sits around when they are bored making forged copies of paperwork in thier spare time?..Sounds to me like there was some intent there, otherwise the action wouldn’t be necesssary.
Trust me, I have no reason to lie. The only people that know this story up until this point is my wife and my ex-boss/compliance officer. This is the first time I have told anyone. I guess you can say, I am at peace with it.
I went through training with Smith Barney, and would say it was a lot harder than I expected. When the opportunity came to join BAI, I jumped at the chance. Who doesn’t like having millions of prospects with there money already with you at the bank. I spent more time with my bank partners, than I did prospecting. That is where I got most of my clients. I would have started out there but they were looking for licensed advisors. Once I was fired, I really did not think I would be able to work in the industry again. Edward Jones sent me the personality exam, and the next thing I know I am interviewing and on doorsteps getting my required 25 “surveys”. My heart was never really into though. I tried to do things my way and it did not work.
This business was MUCH harder than I could have imagined. But I have been able to apply things I learned to my own business. Writing a business plan, preparing financial documents, client satisfaction, etc. All things helped me get approval for an SBA Loan and start my own business(" little kiddie whatever").
To the Original Post, EDJ is a great place to start. But really know what you are getting into. Anyplace you go, they have ways of doing things. Do not try to do it your way. Follow instructions and be prepared for rejection. People are willing to just throw money at you, no matter who you are, and who you work for.
[quote=Otane]I would think if you door knocked a millionaire’s home they would say a polite no thank you. [/quote]
but the next time u talk, via phone, he might just buy a bond.
Jones’ model gives u a better chance to build rapport with local people and therefore offer more of your services.
Have realized that a goodnight is really someone else headaches and garbage clients. They are doing you no favor by giving you a good night. Think about it. Most goodnights make the mistake and only deal with the senior brokers clients and never build a business which means you never have “Your own clients” and now your stuck taking care of someone elses clients that he or she didn’t want. You will make enough to live but never enought to be successful (unless your the guy who gets hit by lightning and gets a 30+ million goodnight and then you will able to tell new FA what your doing to be successful and the real truth you will be only working someone elses book), few and far between get that lucky).
Hey Ron,
I agreee with you and I can't count how many people came and went at EDJ. It is a sin that they don't tell you what your really getting into till your neck deep. I can honestly say in my 8 years that I've seen probably 100 people fail and never make it to the field. I was blind and ignorant when I started and if they told me to jump over a wall I did it. I worked hard and took on a lot of credit card debt to make it. I was a successful producer when I left and I don't have any hard feeling for EDJ ( I'm thankful they got me into the business and I think I and my family but I outgrew EDJ (I didn't buy in anymore) and it wasn't right for me anymore, I agree with you that it isn't for eveyone! I just think it is funny when I was a rookie the call was EDJ is the right place for anyone. Funny how things change. I have been an indy for 15 months and I didn't post much because I knew EDJ would possibly play hard ball for the first 12 months after you leave. Here is my true story, I was a good honest broker but at regional meeting a more senior broker told me that I was too nice and honest? He also told me that I was tiger with stripes and I need to have spots. (AKA I wasn't aggressive enough and not getting enough out of my book). He told me I should go to a bank or somewhere else. I drank the "green coolaid" Hook, line and sinker. I was floored by this guy and he was close to the regional leader. It was an eye opener. I found out later that this guy is just an asshole and had it out for me and didn't like personally. I acutally reported to the regional leader and nothing happened. I think that nothing happend was bull sh*t. But, I got a call the next day from this broker with some bullsh*t line that he was trying to motivate me. Well, I increased my production the next year and had my best year ever. I acutally out produced my mentor (13 year vet, I was only in the business about 6.5 years). I want to thank the asshole that put me down because he opened my eyes about the real EDJ. They don't care about you or your family, they care about production and $$$ for the partners. I told my regional leader that I was done with all the meetings and bullsh*t and that I would speak to every recuiter that ever contacts me and guess what I had a check for 450k from a wire house on my desk very quickly ("Dr M Stanley I presume"?). I didn't want the check because then your dancing with devil. I went Independent and my client are happier, better diversifed, and I made more my first year than I had ever at EDJ. The reason I'm writing this story, is that too many people talk sh*t on this site about how EDJ is so great. I don't know if they are new and haven't worked at other firms. I agree EDJ is good for some and not for others. I just wish some of these people that write on these posts realize that if it works for you great but if it didn't work for that doesn't make you a piece of garbage that didn't work hard. I get sick of hearing that if you didn't make it, you must be lazy!!!! This a far cry from the truth. It depends on work, luck, and the people in the firm backing you (aka either drop you some clients,go to bat for you with regional leader to name two)...... So I ask lets get the facts before you bash someone!To summarize: A vet tells you that you need to be more aggressive. You get your panties in a wad over it. You tell on him to your RL (Daddy, that mean boy is picking on me). You expect the RL to...? But he doesn't. You make the jump in your mind that EDJ only cares about production and partnership money and doesn't give a rip about your family. What exactly does your family have to do with this situation? It pisses you off so much that you decide to start looking elsewhere. You pass over the check for $450K and go indy.
That's a pretty big jump from the guy telling you to be more aggressive to EDJ doesn't care about anything but production and partnership money. Are you sure you weren't just looking for a change and used that incident as the justification in your mind for officially starting to look? Jones does care about production and partnership dollars. First and foremost. It is a for profit organization. However, they do care about your family. We have had several FAs in our region who have had to be out of their offices for an extended amount of time because of a family illness or a personal situation. Jones took care of them every single time. Not just with disability insurance, but by relaxing the standard, getting a TR in their office, etc until the affected person can get back to work. Ask anyone at Jones who has received the adoption reimbursement if Jones only cares about production and partnership. Jones isn't for everyone. I agree with you. Some people come to Jones and stay for a few months while others never leave. To each his own. But seriously, if you actually fail at Jones it's not because you didn't get enough assets handed to you or the RL doesn't like you. It's because you didn't do enough of the right kind of work to keep your job.[quote=Fooled No More]
Here is my true story, I was a good honest broker but at regional meeting a more senior broker told me that I was too nice and honest? He also told me that I was tiger with stripes and I need to have spots. (AKA I wasn't aggressive enough and not getting enough out of my book). He told me I should go to a bank or somewhere else. I drank the "green coolaid" Hook, line and sinker. I was floored by this guy and he was close to the regional leader. It was an eye opener. I found out later that this guy is just an asshole and had it out for me and didn't like personally. I acutally reported to the regional leader and nothing happened. I think that nothing happend was bull sh*t. But, I got a call the next day from this broker with some bullsh*t line that he was trying to motivate me. Well, I increased my production the next year and had my best year ever. I acutally out produced my mentor (13 year vet, I was only in the business about 6.5 years). I want to thank the asshole that put me down because he opened my eyes about the real EDJ. They don't care about you or your family, they care about production and $$$ for the partners. I told my regional leader that I was done with all the meetings and bullsh*t and that I would speak to every recuiter that ever contacts me and guess what I had a check for 450k from a wire house on my desk very quickly ("Dr M Stanley I presume"?). I didn't want the check because then your dancing with devil. I went Independent and my client are happier, better diversifed, and I made more my first year than I had ever at EDJ. The reason I'm writing this story, is that too many people talk sh*t on this site about how EDJ is so great. I don't know if they are new and haven't worked at other firms. I agree EDJ is good for some and not for others. I just wish some of these people that write on these posts realize that if it works for you great but if it didn't work for that doesn't make you a piece of garbage that didn't work hard. I get sick of hearing that if you didn't make it, you must be lazy!!!! This a far cry from the truth. It depends on work, luck, and the people in the firm backing you (aka either drop you some clients,go to bat for you with regional leader to name two)...... So I ask lets get the facts before you bash someone![/quote] Dude, you and I read TOTALLY different Forums.All of the anit- Independent, pro Edward Jones talk is getting tiresome for me too Fooled No More. I mean, what the hell, even the guys who left Jones can’t stop talking about how great it is.
If it was so great, why did they leave?
Seriously though, what forum are you reading, Fortune magazine?
I wouldn’t say there’s a lot of anit-independant talk. Just a lot of Jones bashing, to which I typically respond in a pro-Jones fashion. Kind of like the old Hannity & Colmes show. I would challenge you to find anyone who is seriously saying that being indy is bad.
everything posted on here is like a circle of topics.
on another note, i had a fresh new Edward Jones rep at my door last night. “going to be opening up my doors right at the corner of __ & ___.” oh great! good for you!
[quote=Spaceman Spiff]I wouldn’t say there’s a lot of anit-independant talk. Just a lot of Jones bashing, to which I typically respond in a pro-Jones fashion. Kind of like the old Hannity & Colmes show. I would challenge you to find anyone who is seriously saying that being indy is bad. [/quote]
Forgot my emoticon. Or my sarcasm. I hope you didn’t think I was serious. I’m surprised anybody from Jones willingly admits it anymore, the way people (especially new guys) start blasting Jones.
Spiff,
I never once said I wasn't successful at EDJ. I was very successful. I left not because of partnership or money. I left becuase of integrity. I told my wife a few years back when changes started to show up that the day the firm made me choose between them and my clients I was out. If someone tells me basically I'm not producing enough from my assets (aka CHURNING which is illegal) should say something about the firm. I don't know how long you have been out but maybe you don't know how things work. I have one responsiblity that is to my clients! I will never do anything that crosses that line. It wasn't about the money it about principals. When, the firm cares so much about $$$ it will eventually catch up with them. Pushing people to give clients to new broker is the design for disaster. If you ever read your partnership paperwork, one of the risks with EDJ is that within 5 years 7 out of ten brokers will have less than 5 years experience. Spiff your comments have implied that you think I want to still be there and that is completely false. I left on my terms and never looked back. I now have a my own practice which I have no corporate bullsh*t. I don't have to go to any meeting which were nothing but a cheerleading session. I don't need to have someone tell me how to sell mutual funds with the ICA Guide. Now for your comment about family. I love my wife and she called EDJ the "Firm" ever since I started there. Watch the movie and you'll see some very interesting similarities. You have people telling what to sell, how to do your job and who you can go on vacation with!!!!! Hummmmmmmm. She was behind my move 110% and the only thing she said she would miss was the div trips. I told her we would take our own. I just got back from a med cruise jan1-15 (barcelona, rome, athens, turkey, egypt, malta). It was great and I'm going to take another trip this fall but not sure where. Spiff, I told my story to let everyone know why I left (Not to slam EDJ and not to Promote them). I also wrote it, to let people know the mud you sling about people not making because they aren't doing the right work is garbage. Keep drinking the "Cool Aid"! PS: Partnership is something you are given usually for free. Not something you have to buy which you pay a little down and it pays itself off over a couple of years. Oh, Yeah you get to pay phantom income tax on it......... run a hypo after tax on CWGIX and Partnership you might be suprised with the outcome? Just an ideaWhy can’t people spell “Kool Aid” properly? It starts with a ‘k’…
Fool - You must have a reading comprehension problem. Nowhere have I said that you left Jones because you failed. Nowhere did I imply that you still wanted to be with Jones. In fact I’m pretty sure that by the time the vet that got under your skin said anything to you, you were already headed out the door.
Who pushes people to give assets to new FAs? Are you talking about the Goodknight program? Because if you are there are hundreds of FAs out there that will tell you it was a good thing for them. Both on the vet and the new FA side of the table. I'll argue that point with you all day long. And you'll lose. I understand your point with the div trips. But, you used the wrong term. You used the term vacation. It's not a vacation. Nobody tells me who I can take with me on vacation. The firm can, however, tell me who I can or can't take on a company sponsored trip. I know it's a semantics game, but when the firm writes the check they call the shots. There are lots of people who come on this forum and complain about Jones being too tough, not giving them any assets, etc. and so they failed. I will continue to tell folks like those that I believe that it had very little to do with what the firm didn't give them, but instead what they chose to do with what they had to work with. This whining and moaning is stupid. I just went back and read my post to you. You do have a reading comprehension problem. That last paragraph went from being directed at you specifically to you in general sense. However, I can see where you (you here being used to indicate Fooled No More) got confused. PS - and they call us kool-aid drinkers. "I can take my own diversification trips" "Partnership isn't free" "I don't have to go to any meetings that are just cheerleading sessions." It's all the same from you ex Jones guys.[quote=Spaceman Spiff]Fool - You must have a reading comprehension problem. Nowhere have I said that you left Jones because you failed. Nowhere did I imply that you still wanted to be with Jones. In fact I’m pretty sure that by the time the vet that got under your skin said anything to you, you were already headed out the door.
Who pushes people to give assets to new FAs? Are you talking about the Goodknight program? Because if you are there are hundreds of FAs out there that will tell you it was a good thing for them. Both on the vet and the new FA side of the table. I'll argue that point with you all day long. And you'll lose. I understand your point with the div trips. But, you used the wrong term. You used the term vacation. It's not a vacation. Nobody tells me who I can take with me on vacation. The firm can, however, tell me who I can or can't take on a company sponsored trip. I know it's a semantics game, but when the firm writes the check they call the shots. There are lots of people who come on this forum and complain about Jones being too tough, not giving them any assets, etc. and so they failed. I will continue to tell folks like those that I believe that it had very little to do with what the firm didn't give them, but instead what they chose to do with what they had to work with. This whining and moaning is stupid. I just went back and read my post to you. You do have a reading comprehension problem. That last paragraph went from being directed at you specifically to you in general sense. However, I can see where you (you here being used to indicate Fooled No More) got confused. PS - and they call us kool-aid drinkers. "I can take my own diversification trips" "Partnership isn't free" "I don't have to go to any meetings that are just cheerleading sessions." It's all the same from you ex Jones guys. [/quote]Nice one Spiff! Although I don't think I've ever used the "partnership isn't free" one. Haha!
I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
SMU, I think what you see is the “newbies” or relative newbies at EDJ on here. Most of the happy FA’s have been with Jones over 10 years. Unless you take over a big book, it normally takes a LONG time to ramp up to a decent living (from what I have seen). Yes, there are exceptions. I find that some of the aggressive younger guys can do well (READ: no wife, no kids) ramping up quick, because they are willing to put in the time and effort.
The conundrum at Jones is that they actually want to hire guys with some life experience behind them. But starting from scratch is REALLY hard, even if you are experienced (and getting handed $5mm AUM is not really much of a headstart - about a 6 mo. to 1 year headstart). Most guys with much life experience are already making good money, and can't take the income hit for that long. So they end up working a few years, burning through cash, with nothing to show for it (except debt). They are then bitter at Jones. Now, it's not so much that you can't succeed at Jones, but the starting from scratch thing. Jones tries very hard to educate new recruits how hard it is, but some of them are just blind to it. Ideally, Jones should have a much different way of starting people out. Not for the FA's sake, but for the firm's sake. If they would spend more money on ramp-up time (ie. salary), and have ASSET hurdles along the way, and REQUIRE the FA to be in an office, they would need to hire about a 1/4 of the people they hire, and employe a fraction of the recruiting/training teams, and have much higher retention. That's how Merrill does it (or used to at least). Also, you have guys more focused on gathering assets, and less focused on how they are going to pay their mortgage and eek out a few more commission dollars from a $3mm book. I just think their new FA process is very, very flawed.Would you like a list of names? I could start with my RL/GP and work my way down. There are about 50 in my region alone who are very happy at EDJ. Then I could go to the region just south of me and give you another 50 more. There are probably 10 or so who aren't for one reason or another. Those folks won't be here this time next year. People don't stay at a company they don't like. There are lots of reasons to dislike EDJ, but most of it boils down to being told what to do. Some guys hate that. So they go indy to get the freedom they need and are very happy. I think most people who are indy would end up there wherever they started their careers. It's just their mentality. They're just not happy unless they are truly their own boss.I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t [know] any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
Would you like a list of names? I could start with my RL/GP and work my way down. There are about 50 in my region alone who are very happy at EDJ. Then I could go to the region just south of me and give you another 50 more. There are probably 10 or so who aren't for one reason or another. Those folks won't be here this time next year. People don't stay at a company they don't like. There are lots of reasons to dislike EDJ, but most of it boils down to being told what to do. Some guys hate that. So they go indy to get the freedom they need and are very happy. I think most people who are indy would end up there wherever they started their careers. It's just their mentality. They're just not happy unless they are truly their own boss. [/quote][quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t [know] any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
Bingo. I would say this is the case for most. Why I got out of the Army.
I don’t know these FA’s, but I can almost guarentee they were falling below expectations at there old firm and had no choice but to make a move. You can spin any story, I told Jones I was “Laid-off” during the BAI/Merrill merger, when in fact I was fired.
What are you talking about? Are you talking about transfer brokers who come to Jones after they’ve been let go from their other companies? Are they the ones who aren’t happy? I’ll give you a list transfer brokers who are happy at Jones too.
You are correct that quite a few of the rookie transfer brokers we hire were not cutting it at their previous firm. At least the majority of the ones I trained were that way. It may be different these days with the wirehouse shuffle going on.well it depends on how you fit. some do some dont. They hired me OMG 3 mo of interview. their training is good maybe great…I used to own a training and development company. If you can “drink the coolaid” and get 25 contacts a day, practice presentations. you will be all good. Make SURE you get 25 contacts. I was seriously busting my ass and getting 17 -20 on avg. My Field trainer understood I was walking in a high networth area that had see more than 1 EJ wantabe’s knock on their door. First rookie he had been a field trainer for. the reason they do it is they want to be a partner and you get points for offering to be one. 2 weeks from my “can sell” date August 08, i get a call from the home office…i dont work for EJ any more. it was like getting hit upside the head with a 2x4. Economy? Me? my stupidity/or integrity to get a name and not permission to call back. that does not count as a contact. I had reps tell me to get names and if no permission, look the # up in the phone book. if i would have known the 25 was a make or break…i might have. not an issue now. I only tell you this for perspective…everybody has a different point of view. absolutely no sour grapes…my bad for not being aware. My counsel…Eyes Open! only you can decide what fits. I work for ING Financial Partners as more of a financial advisor and love it. You have heard it before…it’s a marathon, endurance counts. Good Luck with your decision.
I must say in response to those who say the people at EJ are not happy - I’ve been pitching visiting EJ FA’s and BOAs recently; so far I have been to 16 offices, and, except for one sourpuss, all of them seemed very genuinely happy with their job. However, they all stressed that it was hard work, and you had to “earn your stay” so to speak. I’ve been very impressed with the people I’ve spoken with. It’s a rarity to find so many happy employees.
BINGO! Same experience I had when visiting branches prior to joining Jones. The one guy I found that was unhappy was spending all of his time in his office and not doing the work. Not sure if he ever straightened out and made it though. Good luck to you!I must say in response to those who say the people at EJ are not happy - I’ve been pitching visiting EJ FA’s and BOAs recently; so far I have been to 16 offices, and, except for one sourpuss, all of them seemed very genuinely happy with their job. However, they all stressed that it was hard work, and you had to “earn your stay” so to speak. I’ve been very impressed with the people I’ve spoken with. It’s a rarity to find so many happy employees.
2 Reasons... 1.LP is on the line(yeah EDJ can see in offices through secret cameras) 2. They are planning to leave next month and you seemed to be the guy they wanted to compete against when trying to move their book(you know, slow, new, dumb)... JK.I must say in response to those who say the people at EJ are not happy - I’ve been pitching visiting EJ FA’s and BOAs recently; so far I have been to 16 offices, and, except for one sourpuss, all of them seemed very genuinely happy with their job. However, they all stressed that it was hard work, and you had to “earn your stay” so to speak. I’ve been very impressed with the people I’ve spoken with. It’s a rarity to find so many happy employees.
does this strike anyone else as a bit extreme? Sixteen offices??? For real? Under the category, is Edward Jones worth it? No. I can't imagine a job worth 16 interviews (well, I can, but doing this isn't worth it.)… so far I have been to 16 offices…
I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
If you haven’t worked anywhere else, it might seem like a fortune magazine top 10!!
For most, it is an agonizing short term carreer move.I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?[/quote][quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
It's not difficult to get hired by EJ. Please don't feed us the line about "Harvard elite". One of my clients' owns two McDonald's and he hates when corporate tells him what to do. Guess what? He can't. Unlike you, if he sets up a Burger joint like McD's, he's out of luck. Can't compete.
People go to McDonald's for McDonald's.
And an indy who inquired about joining you is NOT doing well. He needs money.
My old mentor was a Segment 5. We were told that there was a specific regional meeting that it was highly recommended we go to. This Segment 5, who left the firm to take a job in a different capacity at another firm, was called by the regional leader and told that he had better be at this meeting. This particular Seg 5 was in his last semester of grad school and had exams that day.
WTF?!
Does it happen everywhere? No. But it does happen.
I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?[/quote] You're an idiot! Once you hit seg 4, you're not concerned about being told what to do; You see all that money go to buy Weddell a new car and start looking at lining your own pockets. I remember in training we were sitting in the bar trying to recruit the bartender so we could get 5000 bonus points for a new hire towards a div trip! 10,000 applications a month, could wipe my ass with at least half![quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?[/quote] You're an idiot! Once you hit seg 4, you're not concerned about being told what to do; You see all that money go to buy Weddell a new car and start looking at lining your own pockets. I remember in training we were sitting in the bar trying to recruit the bartender so we could get 5000 bonus points for a new hire towards a div trip! 10,000 applications a month, could wipe my ass with at least half![/quote] Well, I see things are pretty much the same here; so I'll probably take another look at this forum in two or three years. Most of you on here who aren't new or looking to change careers are probably low achievers, or losers like Blondie above, so I'll just go back to what I think is a pretty decent life. Carry on.[quote=tidefan][quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?[/quote] You're an idiot! Once you hit seg 4, you're not concerned about being told what to do; You see all that money go to buy Weddell a new car and start looking at lining your own pockets. I remember in training we were sitting in the bar trying to recruit the bartender so we could get 5000 bonus points for a new hire towards a div trip! 10,000 applications a month, could wipe my ass with at least half![/quote] Well, I see things are pretty much the same here; so I'll probably take another look at this forum in two or three years. Most of you on here who aren't new or looking to change careers are probably low achievers, or losers like Blondie above, so I'll just go back to what I think is a pretty decent life. Carry on. [/quote] See ya loser, go f*** yourself![quote=Mr.Blonde][quote=tidefan][quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
I think you are wrong. It's difficult to get hired at Edward Jones, but some do get by that probably shouldn't have been hired. But hell, they get 10,000 applications a month! Our attrition rate is really just 10 - 15%, about the same as everyone else. Think it's hard to "cold walk"? Try making about 500 cold calls a day all over the country! That's pretty difficult too. I'm very happy, but then again I haven't worked for another brokerage. The two independent guys in my town don't seem any more happy than I am frankly. One of them even contacted our regional leader about an open office down the road. So, yeah he might be doing well but he did inquire about joining us. After what we've seen the past two years, and probably will see more of with some bank brokers, I can't believe the same old $hit is still being posted here as was six years ago when I was trying to decide on a career change. Seriously, it's like this thread is exactly like one I read in 2004! Merril, Wachovia, AG Edwards, Bear Sterns, etc., etc. and everyone is still criticising Edward Jones? The fact is we rarely have anyone tell us what to do when Seg. 4 level is reached. But, what's wrong with that anyway? It's really no different than the guy who owns a McDonald's restaurant. Think they don't occasionally tell everyone what to do for the good of the franchise?[/quote] You're an idiot! Once you hit seg 4, you're not concerned about being told what to do; You see all that money go to buy Weddell a new car and start looking at lining your own pockets. I remember in training we were sitting in the bar trying to recruit the bartender so we could get 5000 bonus points for a new hire towards a div trip! 10,000 applications a month, could wipe my ass with at least half![/quote][quote=tidefan][quote=SMUSMU]I am new to this forum but it seems like most of the EDJ advisors lack perspective. It is the only firm they know. I could be wrong but you can find tons of FA very happy after they leave EDJ. But I don’t any who are happy, if there are any, once they join EDJ.
Some are loyal because this is the only firm that will hire you without a college degree. Not to say a college degree makes you smart, but if you cannot go to any other firm, you are going to be loyal to the one that gave you a chance.
EDJ has probably the lowest goals to meet as a New FA so to say the least, if you can’t make it at Edward Jones you probably need to find a new profession.
I thought I was the only one who did that!
I’ve inquired about empty Jones’ offices before - not because I wanted to go to Jones, but because the inquiries led me to find out how long the office has been empty, what sort of book existed at that branch, and about how long they anticipated filling the empty box. I was able to concentrate my local advertising, explaining that I will be there to service them for the long-term. The ACAT’s rolled in for quite sometime after that advertising! I like the turnover at the local Jones’ offices, myself! Some of the Jones clients were surprised when I wouldn’t take them on - didn’t meet my minimums. That left some for the new guy, who has come and gone already over the past 1.5 year. The latest FA is doing a little better. We’ve had lunch a couple of times. He pounds the pavement more so than most I’ve seen.
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