Jones Door knocker
Yesterday we had our third Jones rep this year knock on our door. This one came in from a neighboring state, and told the wife that he is licensed in New Mexico but not registered in our state of Colorado
I think maybe he is to green to know he is doing something illegal or poorly supervised!He might not even be licensed to sell yet… Might be in the doorknocking but not yet series 66 licensed… Either way… Bad News!
Do you live right on the border? Seems unusual for someone to be doorknocking in two states at once.
I live about 50 miles from the border. The high net worth people live here in the mountains.
Most are second home owners.He actually admitted to a prospect that he was not licensed in the sate he was prospecting in?!?!
Greenbacks, the next time this happens please have your wife video tape the doorknock. Put up on youtube and see if any of the jonesies can identify. I’m trying to get video of the new doorknocker in my town. I think it would be hilarious to follow them door to door.
I would not be suprised about the lack of knowledge of the newbie, they're trained just enough to be dangerous. A renegade segment 1.He obviously got turned around in those mountains and didn’t realize he was in CO instead of NM. Doorknocking can do that to a guy.
Ouch this is brutal if true.
C'mon??? 50 miles from the border and your colleague got "turned around"??? or is that the response you taught the newnew to give?He obviously got turned around in those mountains and didn’t realize he was in CO instead of NM. Doorknocking can do that to a guy.
[quote=Spaceman Spiff]He obviously got turned around in those mountains and didn’t realize he was in CO instead of NM. Doorknocking can do that to a guy.
C’mon??? 50 miles from the border and your colleague got “turned around”??? or is that the response you taught the newnew to give?[/quote]
Do ya’ think maybe he was just kidding?
[quote=compliancejerk] [quote=Spaceman Spiff]He obviously got turned around in those mountains and didn’t realize he was in CO instead of NM. Doorknocking can do that to a guy.
C’mon??? 50 miles from the border and your colleague got “turned around”??? or is that the response you taught the newnew to give?[/quote]
Do ya’ think maybe he was just kidding?[/quote]
That poor guy probably has no idea what he is getting into. I know some on here will be swift to defend doorknocking…personally I just find it intruding these days.
No matter if someone got their first account knocking on a door or not...either way its just something I wont do.Door-knocking is awful.
I had a newnew in my office the other day who had just returned from KYC, and he was scared to death. I think all the role playing really freaked him out, and he said he was very leary about the whole door-knocking thing. I told him I wished he had given me a call before he'd quit his job. (Since I believe starting out as a newnew is a terrible idea.) The only person he spoke with prior to applying was a Seg. 5 guy who took over a $50 million office 15 years ago and has never door-knocked a day in his life. (He built his office to its current size by gathering the assets of failed brokers in the area throughout the years.) He's definitely not someone I'd recommend a person who's starting out newnew to visit with about what it's like to build a business from scratch. Just to try and prevent the attacks, I am not being negative about Jones. I believe it is a great company, but I have to laugh at the things I used to do--at their direction, of course--to make sure I had my contacts in the system and the sales I needed to stay employed. I certainly don't miss those days.Oops, let’s try that again…LEERY
[quote=Borker Boy]Door-knocking is awful.
I had a newnew in my office the other day who had just returned from KYC, and he was scared to death. I think all the role playing really freaked him out, and he said he was very leary about the whole door-knocking thing. I told him I wished he had given me a call before he'd quit his job. (Since I believe starting out as a newnew is a terrible idea.) The only person he spoke with prior to applying was a Seg. 5 guy who took over a $50 million office 15 years ago and has never door-knocked a day in his life. (He built his office to its current size by gathering the assets of failed brokers in the area throughout the years.) He's definitely not someone I'd recommend a person who's starting out newnew to visit with about what it's like to build a business from scratch. Just to try and prevent the attacks, I am not being negative about Jones. I believe it is a great company, but I have to laugh at the things I used to do--at their direction, of course--to make sure I had my contacts in the system and the sales I needed to stay employed. I certainly don't miss those days.[/quote] Borker, true, and many others post the same type of things on this board. I doorknocked for some time (maybe a year?) and hated it. But I also never really hear any other concrete suggestions (other than coldcalling) as to how to start out in this business (absent taking over a book, doing a huge goodknight, already being connected, etc.). Other firms doorknock (I have an AGE guy poking around our neighborhoods right now). It's easy for people that have been in the business several years to criticize doorknocking (and again, I hated it...), but there are only so many ways to get started from scratch - and NONE of them are easy. I NEVER want to go back to it, but it definitely got me started.Doorknocking is an okay way of doing business to begin with. I can say I was a little embarrassed walking the neighborhoods in my town. I think the real problem with doorknocking in some communities is what the thread was started on. So much turnover in the Jones offices, some homes(my town in particular) have been hit mulitple times. Remember the "cry wolf" tale? I assume most people talk about how long the newby will be around and not how they could do business in the future. Just my 2...ah hell..that was worth 3 cents.
Realistically what would the success rate be for a new seg 1 in my town. We've had 7 brokers in the office since 1999. Its almost laughable now that I think about it.The turnover is incredible. I don’t know what it’s like at other firms, but I have to believe that when a Jones guy abandons an office, it has a much more negative impact on the brand than when a ML guy leaves a ten-broker office.
It's pretty disturbing, I'm sure, when a client drives up to their Jones office only to find a closed sign on the door and an empty office inside. And, unfortunately, it's something that happens very regularly.[quote=Broker24] [quote=compliancejerk] [quote=Spaceman Spiff]He obviously got turned around in those mountains and didn’t realize he was in CO instead of NM. Doorknocking can do that to a guy. [/quote]
C'mon??? 50 miles from the border and your colleague got "turned around"??? or is that the response you taught the newnew to give?[/quote]
Do ya' think maybe he was just kidding?[/quote] compliancejerk is just living up to his normal reputation. He's as anti Jones as I am pro Jones. Maybe I should have put one of those cute little emoticons behind my quote. Perhaps then he would have recognized the glaring sarcasm. Actually I don't know that it would have helped. He's been so vocal recently about his disdain for Jones that it has clouded his already fuzzy perception of reality. He's looking for every opportunity to show Jones in a negative light. Doorknocking is an tool to gather prospects. Nothing more. Nothing less. It is the building of a relationship that will eventually open the accounts. So whether you knock on doors, mass mail, or cold call is really a moot point. It is a contact sport. Make the contacts.
[quote=shadow191]
I'm in a wirehouse, and have seen a bit of turnover. I think what surprised me is that when a relatively new guy fails out, many of their clients don't care. I've inherited a few accounts and when told that their former advisor is no longer with the firm, they're totally fine doing business with me. I guess the mentality is more that they're doing business with the office and not a particular person. [/quote]Perhaps because the adviser failed to build a good relationship with those who chose to stay behind....
[quote=shadow191]
So is that what happens when someone leaves Jones? Their office is just closed until they find a replacement? I guess the accounts are just split across nearby offices? Sorry if this is an obvious question. I have no idea how this stuff works at Jones. [/quote] Basically yes. The office would probably have a BOA to man the phones, but no FA to do the real work. A department in the home office gets a list of the clients and they would start to do damage control and trying to retain assets. They would also work the book while the region is trying to fill that office. If it is a large office they would actually sent out an FA from the home office to be a physical presence there until that region could find a replacement. They don't usually split the assets to nearby offices. It does happen, but it isn't the norm. They don't like to have the FA leave and shift the clients to another physical office. Clients don't always like that much change at one time.If you are referring to spaceputz then actually I did not think he was kidding. Space putz claims I am anti Jones....duh whatever gave him that idea? Having worked in a department that supposidely supervises his previous area, his response "oh he must have gotten turned around during door-knocking" is something my area would have to defend.
Do ya’ think maybe he was just kidding?
Are you kidding? Is that corncob so far up there that it has pushed your sense of humor out the top of your head? You really need to get a life. Maybe drink a beer or two before posting here. Maybe that might help you relax enough to get it when someone, like me, is OBVIOUSLY trying to be sarcastic. BTW, your area wouldn’t defend someone who says that they got 50 miles lost in the wrong direction across a state line. They’d fire him for, among other things, just being stupid.
Sorry for breaking the truce everyone, but this guy is just too much.I knew you were nothing but a truce breaker!! I would agree just a bit with Spiff, it would be hard to defend stupid. Look at my tagline...
[quote=Spaceman Spiff]Are you kidding? Is that corncob so far up there that it has pushed your sense of humor out the top of your head? You really need to get a life. Maybe drink a beer or two before posting here. Maybe that might help you relax enough to get it when someone, like me, is OBVIOUSLY trying to be sarcastic. BTW, your area wouldn’t defend someone who says that they got 50 miles lost in the wrong direction across a state line. They’d fire him for, among other things, just being stupid.
Sorry for breaking the truce everyone, but this guy is just too much. [/quote] Your are correct at "most" firms wouldre primand the rookie and get rid of the mentor/instructor for State line violation. The funny/scary thing is that I was "instructed" to do exactly as I stated. This while I was employed at your firm. The instructions came from "above". And yes I know sarcasm when I hear it. Problem is that your firm's past hiring procedures has fresh out of college teaching "newnew" (hint I am NOT being sarcastic but rather stating fact). anyone that has worked at your firm knows that whenever someone goes from head office to the field it is NOT considered a "promotion" rather the opposite... You maybe right about me having the corncob stuck "up there" but at least I can think for myself.Theres a new sheriff in town and his name is Compliancejerk…glad to get some of the weight taken off my shoulders. THank you. Does this mean Spiff was DE moted…I knew it…I just knew it.
You consider going from home office to FA a demotion? The Jones I know sees it just the opposite. If you can’t cut it in the field, the last ditch effort is home office. More often than not, the compliance department. There’s always room and the pay isn’t all that bad for a failing FA. You don’t get booted to the field from the home office because you can’t cut it.
In the time I was in training I don't know that they ever hired anyone fresh out of college. Sorry, I take that back. I know of 3 people that just graduated with Finance degrees that landed in training. One is now working for her dad who runs a large lawfirm in the St. Louis area. One is Seg 5 and manages a $90 million book in KY. The third is Seg 4 and runs about a $65 million book in southern MO. I know of 9 other FAs who used to work in that department. All of them are Seg 4 or higher. So, you interpret that as you wish. I don't interpret that as a demotion.[quote=Spaceman Spiff]You consider going from home office to FA a demotion? The Jones I know sees it just the opposite. If you can’t cut it in the field, the last ditch effort is home office. More often than not, the compliance department. There’s always room and the pay isn’t all that bad for a failing FA. You don’t get booted to the field from the home office because you can’t cut it.
In the time I was in training I don't know that they ever hired anyone fresh out of college. Sorry, I take that back. I know of 3 people that just graduated with Finance degrees that landed in training. One is now working for her dad who runs a large lawfirm in the St. Louis area. One is Seg 5 and manages a $90 million book in KY. The third is Seg 4 and runs about a $65 million book in southern MO. I know of 9 other FAs who used to work in that department. All of them are Seg 4 or higher. So, you interpret that as you wish. I don't interpret that as a demotion. [/quote] Sure there are failures in the field that move to the head office..... According to your standards all those GPs that head the departments were failures in the field .......riiiight. here's a funny quote about someone getting hiring out of college to instruct at your firm"My history with Jones:
11 years with the firm. 5 years in the field. Took over a small office of about $6 mil. Seg 3, probably hit Seg 4 next year. Not a fast starter, but I also have a couple of kids I'd rather watch grow up than spend 60 hours a week working. When I was in home office I spent almost 5 years in New IR Training. Before Jones I was a college boy. Business degree from a small private college. I've never met Jim Weddle. Would love to be a GP. " Gee I wonder who's record that could be???? why spaceheadless from Nov. 7, 2007 and what sort of AUM????? from Nov 9, 2007 we got spaceboy wonders response of "Show me yours and I'll show you mine.Just kidding. Just under $25 mil. Not great, I know. Would you like to know my blood type too?"
Just keep repeating to yourself that you didn't get demoted and that you work for the best darn salesforce and you will be fine.pssssssssssssssss....that is the air coming out of spiff..he just got kicked in the stomach. Holy shitttttttttt...
[quote=compliancejerk][quote=Spaceman Spiff]You consider going from home office to FA a demotion? The Jones I know sees it just the opposite. If you can’t cut it in the field, the last ditch effort is home office. More often than not, the compliance department. There’s always room and the pay isn’t all that bad for a failing FA. You don’t get booted to the field from the home office because you can’t cut it.
In the time I was in training I don't know that they ever hired anyone fresh out of college. Sorry, I take that back. I know of 3 people that just graduated with Finance degrees that landed in training. One is now working for her dad who runs a large lawfirm in the St. Louis area. One is Seg 5 and manages a $90 million book in KY. The third is Seg 4 and runs about a $65 million book in southern MO. I know of 9 other FAs who used to work in that department. All of them are Seg 4 or higher. So, you interpret that as you wish. I don't interpret that as a demotion. [/quote] Sure there are failures in the field that move to the head office..... According to your standards all those GPs that head the departments were failures in the field .......riiiight. here's a funny quote about someone getting hiring out of college to instruct at your firm"My history with Jones:
11 years with the firm. 5 years in the field. Took over a small office of about $6 mil. Seg 3, probably hit Seg 4 next year. Not a fast starter, but I also have a couple of kids I'd rather watch grow up than spend 60 hours a week working. When I was in home office I spent almost 5 years in New IR Training. Before Jones I was a college boy. Business degree from a small private college. I've never met Jim Weddle. Would love to be a GP. " Gee I wonder who's record that could be???? why spaceheadless from Nov. 7, 2007 and what sort of AUM????? from Nov 9, 2007 we got spaceboy wonders response of "Show me yours and I'll show you mine.Just kidding. Just under $25 mil. Not great, I know. Would you like to know my blood type too?"
Just keep repeating to yourself that you didn't get demoted and that you work for the best darn salesforce and you will be fine. [/quote] I will agree that Spiff sometimes yaps too much, but, man, you've got WAAAAY too much time on your hands if you are going back through and finding his old quotes.I can see how y’all would perceive someone who was in middle/senior management being sent to the field as a demotion…it’s like they were sent from the ivory tower in DesPeres to Siberia. But-I fail to understand how you can make a case that someone who took an entry level job, gained 5 years of experience, and then went to the field and is building a profitable and growing business has been DEMOTED. That just doesn’t make any sense.
Let’s talk about something interesting and educational, presuming you can bear to take a break from dogpiling on Spiffy. If the IR was across the state line he may have been in violation of some firm policy. But, was he actually doing anything illegal if he was just going door to door to introduce himself, collect a name and phone number, and secure permission to call at some point in the future if he has something interesting? I could see that they would be crossing a line as soon as they started to ask/talk about anything specific relating to investments, but otherwise I would imagine they might be ok.
What do you think?
[quote=Greenbacks]
Yesterday we had our third Jones rep this year knock on our door. This one came in from a neighboring state, and told the wife that he is licensed in New Mexico but not registered in our state of Colorado
I think maybe he is to green to know he is doing something illegal or poorly supervised! [/quote] This scenario is usally aquestion on Series 63 and 7 examinations. I know the answer and hopefully you do too. b24 - kids are sick at home and the wife is visiting out of state. Besides spaced out boy is fair game due to his pious attitude towards anyone that disagrees with the emarld city inhabitants.[quote=compliancejerk][quote=Spaceman Spiff]You consider going from home office to FA a demotion? The Jones I know sees it just the opposite. If you can’t cut it in the field, the last ditch effort is home office. More often than not, the compliance department. There’s always room and the pay isn’t all that bad for a failing FA. You don’t get booted to the field from the home office because you can’t cut it.
In the time I was in training I don't know that they ever hired anyone fresh out of college. Sorry, I take that back. I know of 3 people that just graduated with Finance degrees that landed in training. One is now working for her dad who runs a large lawfirm in the St. Louis area. One is Seg 5 and manages a $90 million book in KY. The third is Seg 4 and runs about a $65 million book in southern MO. I know of 9 other FAs who used to work in that department. All of them are Seg 4 or higher. So, you interpret that as you wish. I don't interpret that as a demotion. [/quote] Sure there are failures in the field that move to the head office..... According to your standards all those GPs that head the departments were failures in the field .......riiiight. here's a funny quote about someone getting hiring out of college to instruct at your firm"My history with Jones:
11 years with the firm. 5 years in the field. Took over a small office of about $6 mil. Seg 3, probably hit Seg 4 next year. Not a fast starter, but I also have a couple of kids I'd rather watch grow up than spend 60 hours a week working. When I was in home office I spent almost 5 years in New IR Training. Before Jones I was a college boy. Business degree from a small private college. I've never met Jim Weddle. Would love to be a GP. " Gee I wonder who's record that could be???? why spaceheadless from Nov. 7, 2007 and what sort of AUM????? from Nov 9, 2007 we got spaceboy wonders response of "Show me yours and I'll show you mine.Just kidding. Just under $25 mil. Not great, I know. Would you like to know my blood type too?"
Just keep repeating to yourself that you didn't get demoted and that you work for the best darn salesforce and you will be fine. [/quote] What I didn't mention when I posted my Jones resume for you folks was that I got hired into Jones in an entry level position. I was a paper pusher in Operations. From there I moved on to New IR Training and did a couple of different things there before I went to the field. Each time I moved jobs in Jones it was a promotion which earned me a bigger salary and more responsibility. The move to the field wasn't a lateral move. Wasn't even close to a demotion as you seem to think. To spell it out for you, a demotion would be moving to a position of a lesser status which includes a lower salary and less responsibility. I wouldn't characterize managing people's money as lower responsibility. And I've certainly not taken a pay cut. So, please explain to me so my mind, that can't think for itself, can understand how I got demoted when I went to the field. You love putting words into my mouth don't you? I never said that the GPs that run departments were failed brokers. What I did say is that there are some people who go to the home office because they don't make it in the field. See the difference?spacey,
My apologies I didn't realize I was messing which such a knowledgable and 'impotent ir at the great and wonderful green machine. less than a month ago you statedAre you done having fun with me yet?
I realize I don't meet all of your expectations. My apologies. I don't remember ever telling you folks that I was a big hitter. If you construed my comments as such, that was your fault. I'll try to get my numbers up next year so I can have an opinion like the rest of you do. " With all the spouting off you have done and the the retractions, first you try to sho off by claiming to have close connections with the mothership...... yeah paper pusher to NEW IR training to 5 years in the field with $25 mill (but you started with 6 and in how many years ..... oh yeah another 5 years) You bad mouth people who go from the field to head office. You then generalize FSDs as failed sales reps. My mistake, I didn't check my math regarding your career. Boy you've risen fast. small college boy to paper pusher to new ir training......no wonder a $6 mill branch would seem like a promotion...... to you. oh by the way do you the answer to the scenario that Broker24 doesn't seem to know the answer to?[quote=compliancejerk]
oh by the way do you the answer to the scenario that Broker24 doesn't seem to know the answer to? [/quote] I didn't realize there was a question on the table for me ?? Or should I go back through the last 6 months of your posts to find it? (as you do with Spiff)[quote=compliancejerk][quote=Greenbacks]
Yesterday we had our third Jones rep this year knock on our door. This one came in from a neighboring state, and told the wife that he is licensed in New Mexico but not registered in our state of Colorado
I think maybe he is to green to know he is doing something illegal or poorly supervised! [/quote] This scenario is usally aquestion on Series 63 and 7 examinations. I know the answer and hopefully you do too. b24 - kids are sick at home and the wife is visiting out of state. Besides spaced out boy is fair game due to his pious attitude towards anyone that disagrees with the emarld city inhabitants.[/quote] sorry I didn't bold it and I didn't direct the question to you[quote=compliancejerk]spacey,
My apologies I didn't realize I was messing which such a knowledgable and 'impotent ir at the great and wonderful green machine.[/quote] Gettin kinda personal, aren't ya? Just teasin ya.[quote=compliancejerk]spacey,
My apologies I didn't realize I was messing which such a knowledgable and 'impotent ir at the great and wonderful green machine. With all the spouting off you have done and the the retractions, first you try to sho off by claiming to have close connections with the mothership...... yeah paper pusher to NEW IR training to 5 years in the field with $25 mill (but you started with 6 and in how many years ..... oh yeah another 5 years) You bad mouth people who go from the field to head office. You then generalize FSDs as failed sales reps. My mistake, I didn't check my math regarding your career. Boy you've risen fast. small college boy to paper pusher to new ir training......no wonder a $6 mill branch would seem like a promotion...... to you. oh by the way do you the answer to the scenario that Broker24 doesn't seem to know the answer to? [/quote] Are you a politician? Cause you really like to spin things to make them sound the way you want to them sound. First, I've never claimed that I have close connections with the home office. I do know people that I used to work with that may have access to info I don't. In fact in one of those posts you quoted I mentioned that I've never met Jim Weddle. I wouldn't exactly call that well connected. Second, none of the moves I made at home office were demotions. Like I told you before, I got a better paying job with more important responsibilities everytime I moved. Now, had I moved from NIRT to FSD, now that, in my opinion, would have been a demotion. Third, I didn't bad mouth anyone about going to the home office from the field. Sometimes if someone likes Jones and they can't make it or don't like it in the field, they go to the home office. I don't think that's bad mouthing them. Also, I didn't generalize anything about FSDs. There are former FAs there, but not anywhere near all of them. My own FSD has never been anywhere close to the field from what I can tell. The answer to your question (the one you never actually asked B24) is yes, I do know the answer. OK, let's take a straw poll here. Who out there believes like cj does that going from a home office position to becoming an FA is a demotion? I've been meaning to ask you. Who are you? I don't mean your actual name, but what function do you serve and at what firm? I'll accept a little bashing from spears or some of the other ex-Jones guys, but where do you get off bashing me? Just curious. You know my history. Have any interest in telling us yours?I can only think of one on the demotion side…Spaceman Spiff…
Spiff, you have been upfront and direct–I am a indy and I agree with Spiff (I’ll go to confession later), tell him firm and fuction at the firm…Bspears and all of us were at Jones and received the Koolaid antidote–so we feel free to bash Jones whenever (and we do!)
I still can't figure out why Spiff isn't Indy, for that matter, why a lot of my former "friends" in at Jones aren't Indy...but be a man/woman/heshe and give firm and postion.Let me correct roadhard…we don’t want any heshe’s here…
[quote=Greenbacks]
Yesterday we had our third Jones rep this year knock on our door. This one came in from a neighboring state, and told the wife that he is licensed in New Mexico but not registered in our state of Colorado
I think maybe he is to green to know he is doing something illegal or poorly supervised! [/quote] Okay B24, this is is an easy question but what is wrong with what your newbie is doing??? This scenario is part of a question on series 7 & 63. (I guess that is why you have not answered???)[quote=compliancejerk] [quote=Greenbacks]
Yesterday we had our third Jones rep this year knock on our door. This one came in from a neighboring state, and told the wife that he is licensed in New Mexico but not registered in our state of Colorado
I think maybe he is to green to know he is doing something illegal or poorly supervised!
[/quote]
Okay B24, this is is an easy question but what is wrong with what your newbie is doing???
This scenario is part of a question on series 7 & 63. (I guess that is why you have not answered???)[/quote]
Actually, it’s because I don’t care. He’s not “my” newbie. He can get fired for all I care. Of course you can’t solicit somewhre you are not registered. But again, I don’t really care.
Ah, but he is “your” newbie after all, B24. The regulators could conceivably shut Edward Jones down entirely for failure to supervise in the state where the broker is not registered. Don’t laugh…it happened some years back in Florida, I believe. That, I feel, is one of the major drawbacks to the Jones system. (It’s also one of the reasons that product is so limited in the Edward Jones repertoire.)
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