Jones Field Trainer
The independence of a jones broker coupled with small accounts…What a life!
I was a little luckier than you. My FT is six years in and is a strong Seg 5, traveling every six months since he’s been there. He also said he did not generate even 1 account out of his doorknocking days and thinks its a bunch of BS!! Can’t wait to learn how that’s done…
[quote=wannabefa]
OK, I just had to share this, but let me give a little background first. I’m going through Jones’s training. Yeah, I checked others but liked Jones the best. I had visited several Jones offices in my area before accepting and was pleased with all of them: well kept, professional, it didn’t matter if it was the middle class suburb, the small town county seat, or the upscale side of town-all nice.So I go meet my field trainer today. His BOA was just wearing pants and a shirt w/o a tie. In the lobby, I kid you not, he had a plastic tree with fake money hanging from it. His conference room was also his storage room with paper scraps from the shredder all over the floor. The only non-Jones picture was his college diploma.
He had gone through that St. Louis training program so he took over an existing branch. After about 2 years he is a segment 2, doesn’t door knock, only prospects through direct mail to new movers and a little bit with buisnesses, and gets a few referrels (sp?). His appointment calendar for this week had two entries, and one of those was a hand holding appointment!
Yo dawg, don’t be hatin’ on the money tree son! That mess is awesome!
He said he needs to do more prospecting but just hasn’t gotten up the nerve.
Oh Lord, this is the guy that I’m supposed to learn from???
I think I’ll be learning what not to do![/quote]
[quote=Hey Kool-Aid]
BEWARE…This is a troll!!! Seg 2 Broker’s are not Field Trainers…Just another hater trying to bash…that’s ok…we’re still here, highly capitalized…not a bank nor bank owned. From where I sit it’s pretty good to be with Jones right now![quote=wannabefa]
OK, I just had to share this, but let me give a little background first. I’m going through Jones’s training. Yeah, I checked others but liked Jones the best. I had visited several Jones offices in my area before accepting and was pleased with all of them: well kept, professional, it didn’t matter if it was the middle class suburb, the small town county seat, or the upscale side of town-all nice.
So I go meet my field trainer today. His BOA was just wearing pants and a shirt w/o a tie. In the lobby, I kid you not, he had a plastic tree with fake money hanging from it. His conference room was also his storage room with paper scraps from the shredder all over the floor. The only non-Jones picture was his college diploma.
He had gone through that St. Louis training program so he took over an existing branch. After about 2 years he is a segment 2, doesn’t door knock, only prospects through direct mail to new movers and a little bit with buisnesses, and gets a few referrels (sp?). His appointment calendar for this week had two entries, and one of those was a hand holding appointment!
He said he needs to do more prospecting but just hasn’t gotten up the nerve.
Oh Lord, this is the guy that I’m supposed to learn from???
I think I’ll be learning what not to do![/quote] [/quote]
Actually that is not true that Seg 2’s are not field trainers. Whether this guy is a troll or not. Before I left, if you were at 100% of standard and a Seg 2, you could become a field trainer. In fact, we had two guys in our region who were. Both left the firm six months after that.
Nope, not a troll. Just a guy gettin’ ready to bust his tail to make it in this buisness that thought a “money tree” and non-prospecting FA trainer was too absurd to keep to myself.
What’s the EJ payout these days anyway? I keep hearing different things. Of course I am sure it is hard to tell for sure. Most think the overhead is paid, but I understand they take up to 60% off the top. That sounds like overhead to me.
When I left it averaged around 38% depending on what you were selling.
Field Trainers can be segment 2. I ran into that myself. If your FT does not do his job, start askin around and see if you can change it around to someone else.
[quote=schlemoc]
Field Trainers can be segment 2. I ran into that myself. If your FT does not do his job, start askin around and see if you can change it around to someone else.
[/quote] Agreed. My FT was not bad, just a drastically different personality than me. I took what I could learn (a lot of it is just office operations anyway), and tried to get what I could from others in my region too. In fact, no matter who your FT is and how successful they are (or not so), you should leverage all the willing FA's in your region to learn from them. As my FT told me early on, "it will be your business, so take what you can use".I’m a Groupie now!
Learn what you can from your FT, but be picking the brains of every successful veteran in your region. Everyone runs their office/business differently. What works for them, may not for you. Regardless, you have to implement. They can give you the best ideas in the world, but if you don’t use them, they’re worthless.
My field trainer was great. I was lucky. But for the most part, the field trainer role is more of an operations thing. I probably spent more time with the BOA learning about opening accounts, how to use the system, etc. If you think you are going to learn everything there is to know from a few sessions with a field trainer, you are mistaken. A good mentor is much more valuable for learning about the "sales" aspect of the business. So be more particular about who you choose to partner with for a mentor than your field trainer.
Well, just remember he’s doing it for free so try and learn what you can. They really shouldn’t be letting him do field training though, as it appears he’s struggling as well.
FWIW, last week I visited a segment 5, 1 million dollar + producer, and his office was nicer than the nicest doctor's office I've ever been in. His conference room was like a theatre, with a V-shaped board table and nice high chairs. On the wall was a 52 in TV. It had three offices, a kitchen and two bathrooms. No fake money trees. Just remember, every company and every town has it's share......last week I visited a segment 5, 1 million dollar + producer, and his office was nicer than the nicest doctor’s office I’ve ever been in. His conference room was like a theatre, with a V-shaped board table and nice high chairs. On the wall was a 52 in TV. It had three offices, a kitchen and two bathrooms. No fake money trees.
Did John Thain help him decorate?
I suppose since he spent his own money, it doesn't matter.[quote=wp_fan] last week I visited a segment 5, 1 million dollar + producer, and his office was nicer than the nicest doctor’s office I’ve ever been in. His conference room was like a theatre, with a V-shaped board table and nice high chairs. On the wall was a 52 in TV. It had three offices, a kitchen and two bathrooms. No fake money trees.[/quote]
Did John Thain help him decorate?
[quote=wannabefa]
OK, I just had to share this, but let me give a little background first. I'm going through Jones's training. Yeah, I checked others but liked Jones the best. I had visited several Jones offices in my area before accepting and was pleased with all of them: well kept, professional, it didn't matter if it was the middle class suburb, the small town county seat, or the upscale side of town-all nice. So I go meet my field trainer today. His BOA was just wearing pants and a shirt w/o a tie. In the lobby, I kid you not, he had a plastic tree with fake money hanging from it. His conference room was also his storage room with paper scraps from the shredder all over the floor. The only non-Jones picture was his college diploma. He had gone through that St. Louis training program so he took over an existing branch. After about 2 years he is a segment 2, doesn't door knock, only prospects through direct mail to new movers and a little bit with buisnesses, and gets a few referrels (sp?). His appointment calendar for this week had two entries, and one of those was a hand holding appointment! He said he needs to do more prospecting but just hasn't gotten up the nerve. Oh Lord, this is the guy that I'm supposed to learn from???? I think I'll be learning what not to do![/quote] I just read your post...I have yet to read anyone else's reply yet, but I felt like I should share. I just met FT the other day. Nice guy, very professional, clean office, Seg 4. I think I'll keep him. YOU, on the other hand, should definitely ditch your FT and request a new one. And yes...you can do that. There's an old saying, "You are the average of the five people you spend the most time with." You are going to be spending a lot of time with this guy. Do what's best for you...not him.[quote=Hey Kool-Aid]
BEWARE....This is a troll!!!! Seg 2 Broker's are not Field Trainers...Just another hater trying to bash...that's ok...we're still here, highly capitalized....not a bank nor bank owned. From where I sit it's pretty good to be with Jones right now! But everyone in the industry still thinks you guys are unsophisticated advisors, and belong to a cult like partnership....You guys are just weird. That's all. How's American Funds A share portfolios holding up? Or better yet LA Bond Debenture. Every account I take from Jones is the same, American Funds/LA and 30 year muni's...[quote=Baba Booey][quote=Hey Kool-Aid]
BEWARE....This is a troll!!!! Seg 2 Broker's are not Field Trainers...Just another hater trying to bash...that's ok...we're still here, highly capitalized....not a bank nor bank owned. From where I sit it's pretty good to be with Jones right now! [/quote] But everyone in the industry still thinks you guys are unsophisticated advisors, and belong to a cult like partnership....You guys are just weird. That's all. How's American Funds A share portfolios holding up? Or better yet LA Bond Debenture. Every account I take from Jones is the same, American Funds/LA and 30 year muni's...[quote=Baba Booey][quote=Baba Booey][quote=Hey Kool-Aid]
BEWARE....This is a troll!!!! Seg 2 Broker's are not Field Trainers...Just another hater trying to bash...that's ok...we're still here, highly capitalized....not a bank nor bank owned. From where I sit it's pretty good to be with Jones right now! [/quote] But everyone in the industry still thinks you guys are unsophisticated advisors, and belong to a cult like partnership....You guys are just weird. That's all. How's American Funds A share portfolios holding up? Or better yet LA Bond Debenture. Every account I take from Jones is the same, American Funds/LA and 30 year muni's... [/quote] First of all, you stutter ....secondly, do you think I, or anyone else at Jones gives a tiny rats ass what you or anyone else in the industry thinks? Most of the "industry professionals" that think the way you do are fighting for their lives right now with firms that have to become banks or merge in order to avoid bankruptcy! I can only speak for my own book, but I use much more than American Funds & LT Munis...but those types of portfolios held up about the same as most others i suppose. I will be the first one to tell you that my firm ain't perfect...but it's a heck of lot better than most out there! Funny how people feel that Jones is cultish...just because it has happy, fulfilled employees....seems to me to be jealousy...not of the firm...but of the happiness...why can't people just be happy for other folks that are happy with their jobs/lives...instead of hating...it may not be for you ...but that doesn't make it a bad place.Troll or not … simply man up and get a new FT. You said you met tons of other FA … ask for one of them.
[quote=Baba Booey][quote=Baba Booey][quote=Hey Kool-Aid]
BEWARE....This is a troll!!!! Seg 2 Broker's are not Field Trainers...Just another hater trying to bash...that's ok...we're still here, highly capitalized....not a bank nor bank owned. From where I sit it's pretty good to be with Jones right now! [/quote] But everyone in the industry still thinks you guys are unsophisticated advisors, and belong to a cult like partnership....You guys are just weird. That's all. How's American Funds A share portfolios holding up? Or better yet LA Bond Debenture. Every account I take from Jones is the same, American Funds/LA and 30 year muni's... [/quote] Although you and "everyone else in the industry" are smart enough to know this, it is in our best interest for you to think we are weird and unsohisticated. 1: Everyone in the industry doesn't invest with us. Clients do. 2: If you and "everyone in the industry" don't see us as a threat then you don't prepare to compete against us. Everyone in the world has seen what "everyone else in the industry" has done to their companies. We aren't impressed with your "sophistication".Just seems like Triple A.
Versus the Montreal Expos.
Haha, priceless B24!!
[quote=Baba Booey][quote=Baba Booey][quote=Hey Kool-Aid]
BEWARE....This is a troll!!!! Seg 2 Broker's are not Field Trainers...Just another hater trying to bash...that's ok...we're still here, highly capitalized....not a bank nor bank owned. From where I sit it's pretty good to be with Jones right now! [/quote] But everyone in the industry still thinks you guys are unsophisticated advisors, and belong to a cult like partnership....You guys are just weird. That's all. How's American Funds A share portfolios holding up? Or better yet LA Bond Debenture. Every account I take from Jones is the same, American Funds/LA and 30 year muni's... [/quote] The fact that you lumped all of the American Funds into one portfolio for discussion purposes just screams rookie. Couple that with the fact that you don't know that 30 year munis were some of the best buys of the century last year and that LBNDX did just fine last year. A properly allocated American Funds portfolio did just fine last year. Not horrible, but not great. Now, if an advisor had all of his clients money in New World, Small Cap World, Capital World, and Capital Income Builder then he probably got smoked. But that's his own stupidity and not the fault of American Funds. And while you sophisticated people are trying to hash out retention checks, ownership, what firm you're going to move to, and what the heck is going on with client accounts (in that order, BTW) the good Jones advisor is brining in lots of new clients. And they're coming from the "sophisticated" places.LBNDX was down 20%, CAIBX was down 34% and AGTHX was down 42% last year. I’ve been ACATing these funds for the past 12 months. The firm I work for isn’t hashing out retention checks, ownership or any of the other things you said.
It's fun getting you Jonesies fired up.Your field trainer may have a pretty big effect on your success early on, I’d speak up now and get it fixed early on. This way you won’t risk getting bad advice. I remember being so overwhelmed early on that I took everything I was told from other Joneseys as gospel. You will want an FT who can encourage you from experience, not what he reads on Joneslink.
Not for nothing, but I have been told by multiple wirehouse advisors (current and former) that they got virtually no training on investments and portfolio design, let alone prospecting and marketing. I suppose its an issue everywhere.
Mine has cancelled appoitments on me twice so today was the last straw … called my RL and fired him. Having never met him or spoken to him made that pretty damn easy.
I've done field training with four trainees, and I can tell you it's a committment of time on the trainers part as well. I would advise all those trainees to be especially prepared during these times to get the most out of the meetings; b/c the trainer is probably trying to survive as well.Mine has cancelled appoitments on me twice so today was the last straw … called my RL and fired him. Having never met him or spoken to him made that pretty damn easy.
Yeah, that is about what I expected and is very low. Give us a call.
It’s nice to get a Field Trainer that will get “real” with you once in a while. We all now the slogans. We can look them up on Joneslink ourselves.
It's also nice to get a Field Trainer who really built their book themselves. They are out there but getting harder to find. I find the guys who have been out too long have simply forgotten what it's like to be short on money or have true business tension. I respect the 20 year guys like everyone else but I don't want to hear about the 90's anymore. It's not relevant to today's market place. It seems like after ten years or so the self righteousness ramps up and they start to get a big ego. I guess a pocket full of cash plus lots of stories about past glories will do that to you. Good luck to you[quote=Swordoftruth]It’s nice to get a Field Trainer that will get “real” with you once in a while. We all now the slogans. We can look them up on Joneslink ourselves.
It's also nice to get a Field Trainer who really built their book themselves. They are out there but getting harder to find. I find the guys who have been out too long have simply forgotten what it's like to be short on money or have true business tension. I respect the 20 year guys like everyone else but I don't want to hear about the 90's anymore. It's not relevant to today's market place. It seems like after ten years or so the self righteousness ramps up and they start to get a big ego. I guess a pocket full of cash plus lots of stories about past glories will do that to you. Good luck to you[/quote] I know what you mean, but I'm sure it's the same everywhere. It's not all that helpful to hear what a guy with $200 million under management is doing right now, but I do like hearing from some of the top guys tell what they did at certain times in their careers. A good one is Troy Nelson from North Dakota, the firm's top producer. He's only like 40 and has been with the firm <10 years so if you ever get that opportunity, don't miss it.What you have to understand that all the field trainer is getting is some consideration for LP. What the GP gets is cheap training provided by the Segment 3’s and 4’s eager for LP…
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